International stock markets updates: Q4 2022 to Q1 2023

Tokyo shares open higher Tuesday as investors cheer an overnight rebound of US tech shares and surprisingly strong Japanese GDP data. 

The benchmark Nikkei 225 index rose 0.84%, or 270.43 points, to 32,330.34, while the broader Topix index added 0.49%, or 11.13 points, to 2,292.02.

"The market should maintain the momentum seen in the US and is expected to stay buoyant in early trade," brokerage house Monex says in a note. — AFP

Hong Kong stocks edge slightly lower in opening trade Friday following losses on Wall Street and with investors fretting over the outlook for China's economy.

The Hang Seng Index dipped 0.05%, or 9.32 points, to 18,918.70.

The Shanghai Composite Index shed 0.19%, or 6.10 points, to 3,163.42, while the Shenzhen Composite Index on China's second exchange lost 0.18%, or 3.68 points, to 2,011.97. — AFP 

Asian markets are mixed Thursday as investors shrug at data showing US inflation fell further but only marginally, suggesting the Federal Reserve still had much to do in its battle against rising prices.

Adding to the uncertainty was the battle to raise the US debt ceiling to avert a destabilising default, with Democrats and Republicans unable to reach a deal just weeks before the country runs out of cash to pay its bills.

The consumer price index reading was the lowest in two years and a tad below what was expected, giving the Fed a little room to take a break in its long-running rate hike campaign. — AFP

Hong Kong stocks open slightly higher Thursday morning after two days of losses and the release of data showing a further drop in US inflation, fuelling hopes for a pause in the Federal Reserve's interest rate-tightening drive.

The Hang Seng Index edged up 0.41%, or 80.78 points, to 19,842.98.

The Shanghai Composite Index added 0.14%, or 4.51 points, to 3,323.66, while the Shenzhen Composite Index on China's second exchange gained 0.12%, or 2.50 points, to 2,031.77. — AFP

Stocks extend losses in Asia and Europe on Wednesday as traders await the release of US inflation data, with sentiment clouded by a range of issues including the debt ceiling standoff in Washington and banking sector uncertainty.

After last week's Federal Reserve interest rate hike and a forecast-beating jobs report, focus is lasered on the consumer price index reading later in the day, which will play a key decision-making role in the US central bank's June policy meeting.

The Fed hinted at a possible pause in its long-running tightening cycle but observers warned that any sign inflation is creeping up would put pressure on officials to turn the screws further. — AFP

Asian markets struggle Tuesday as investors eyed the release of US inflation data later in the week that could play a key role in shaping the Federal Reserve's interest rate plans.

While the region enjoyed a healthy start to the week, there remains plenty of nervousness on trading floors after last week's upheaval in the US banking sector that hammered financial stocks.

The turmoil saw the sale of the embattled First Republic Bank to JPMorgan Chase and came just two months after the collapse of three other regional banks and the takeover of Credit Suisse by UBS. — AFP

Asian stocks are mixed on Friday following a slide on Wall Street driven by renewed fears of banking sector turmoil.

All three major US indices ended the day in the red, while regional bank shares nosedived following another quarter-point hike from the US Federal Reserve.

PacWest plunged 50.6%, First Horizon slumped 33.6% and Western Alliance lost 38.5%. — AFP

Hong Kong stocks open higher on Friday despite another bruising session on Wall Street.

The Hang Seng Index opens up 0.56%, or 112.17 points, at 20,061.00.

The Shanghai Composite Index opens flat at 3,350.65, while the Shenzhen Composite Index on China's second exchange was down 0.14%, or 2.83 points, at 2,051.57. — AFP

Asian stocks are down on Wednesday following losses on Wall Street fuelled by fears of banking sector turmoil and jitters over interest rates.

Sydney was more than one percent down in morning trade after the Australian central bank hiked interest rates there to an 11-year high -- a surprise move that dashed hopes it would hold rates steady as inflation showed signs of slowing.

Investors were also positioning themselves ahead of an expected US Federal Reserve rate hike on Wednesday, and one from the European Central Bank on Thursday. — AFP

Hong Kong stocks open lower on Thursday following losses on Wall Street fuelled by fears of recession.

The Hang Seng Index fell 0.11%, or 20.92 points, to 19,736.35.

The Shanghai Composite Index was down 0.24%, or 7.87 points, to 3256.23, while the Shenzhen Composite Index on China's second exchange was down 0.37%, or 7.59 points, to 2017.48. — AFP

Asian stocks are mostly down on Tuesday following a mixed session on Wall Street, with investors still casting about for direction at the start of a week of major announcements.

Bourses in New York, London, Frankfurt and Paris dipped in and out of negative territory on Monday, ahead of earnings results from US tech behemoths such as Amazon, Microsoft, Facebook owner Meta and Google parent Alphabet.

Investors will also be watching important economic data from Australia and the eurozone, as well as a policy meeting of the Bank of Japan. — AFP

European and US stocks edge higher following mixed data and corporate results, as markets await peak earnings season and central bank actions.

Frankfurt and Paris stocks ended the day half a percentage point higher after purchasing managers' index (PMI) survey data showed eurozone business activity growth accelerated in April on the buoyant services sector -- but manufacturing shrank.

London, meanwhile, edged up as investors eyed rebounding UK business activity despite sliding retail sales. — AFP

Hong Kong stocks finish slightly higher Thursday after swinging through the day, with traders weighing the outlook for US interest rates as the Federal Reserve fights to get inflation under control.

The Hang Seng Index added 0.14%, or 29.21 points, to 20,396.97.

The Shanghai Composite Index dipped 0.09%, or 3.10 points, to 3,367.03, while the Shenzhen Composite Index on China's second exchange shed 0.40%, or 8.56 points, to 2,117.95. — AFP

Wall Street stocks retreat following a positive session on European bourses, as disappointing US retail sales data offset a lift from better-than-expected bank earnings.

Retail sales fell by a surprisingly big 1% in March, extending a downward trend that signals cooling in the world's biggest economy.

But that downcast reading was countered by surprisingly good earnings from JPMorgan Chase and other large banks that cheered investors nervous about the sector. — AFP

Equity markets rally and the dollar dips further Friday after fresh data showing continued slowing of inflation, fanning hopes that the Federal Reserve was nearing the end of its long-running campaign of interest rate hikes.

The surprise on-month drop in producer prices in March -- the biggest since April 2020 -- came a day after the consumer price index dropped more than expected, suggesting the central bank's tightening campaign was finally paying off.

A higher-than-forecast reading on jobless claims added to the positive mood, which helped send Wall Street's three main indexes rallying, including a two percent advance for the Nasdaq. — AFP

Markets are mixed Thursday as traders weighed data showing US inflation falling against minutes from the Federal Reserve's most recent policy meeting indicating officials foresaw a recession at the end of the year.

A smaller-than-forecast rise in prices last month provided some much-needed hope to investors that a year of monetary tightening was finally showing results, but analysts said the details indicated there was still some way to go.

The five-percent rise in the March consumer price index was the lowest since May 2021 but core inflation, which excludes food and energy prices, accelerated to 5.6 percent from 5.5 percent the previous month. — AFP

Hong Kong stocks sink more than 1% at the open Thursday, dragged by tech stocks and after minutes from the Federal Reserve latest meeting showed officials see a recession.

The Hang Seng Index shed 1.63%, or 331.90 points, to 19,977.96.

The Shanghai Composite Index shed 0.18%, or 5.91 points, to 3,321.27, while the Shenzhen Composite Index on China's second exchange lost 0.29%, or 6.30 points, to 2,140.86. — AFP

Asian and European markets mostly rise Tuesday after an Easter break that thinned trading volumes in the region, with focus now turning to the release of US inflation data later in the week.

The consumer and wholesale price reports due follow Friday figures that showed a continued healthy rise in jobs creation, reinforcing expectations of another Federal Reserve interest rate hike next month.

But the jobs report also soothed concerns that the world's top economy was slowing too fast and could be on course for a recession, after last week's sub-par manufacturing and services sector activity numbers. — AFP

Financial markets in Australia, Hong Kong, India, Indonesia, New Zealand, the Philippines and Singapore are closed on Friday for public holidays.

Tokyo stocks open lower Wednesday as weaker US jobs data drive down New York shares, while the yen's strength also weighs on the market. 

The benchmark Nikkei index fell 0.61% or 171.60 points to 28,115.82 while the broader Topix index lost 0.79% or 16.07 points to 2,006.69. — AFP

Asian markets are mixed Tuesday as concerns about the impact of surging oil prices on inflation offset data indicating a slowing US economy that could allow the Federal Reserve to slow its interest rate hikes.

Crude held on to Monday's surge of more than six percent that came after top producers announced a surprise output cut, providing a fresh headache to central bankers as they battle inflation.

Regional investors were given a positive lead from Wall Street, where the S&P 500 and Dow chalked up healthy gains after a closely watched gauge of US factory activity from the Institute for Supply Management (ISM) missed forecasts and showed a fifth consecutive month of contraction. — AFP

Stocks advance as data show inflation slowing in the eurozone and the United States, and a British economy performing slightly better than thought.

With the US Federal Reserve and European Central Bank raising interest rates to tame inflation, markets were eagerly waiting for the latest inflation data to see if monetary policymakers have room to pause hikes given recent turmoil in the banking sector.

The eurozone's annual inflation rate slowed sharply to 6.9 percent in March from 8.5 percent in February, beating expectations as energy prices eased, the EU's statistics agency says. — AFP

Tokyo stocks end higher Friday as risk appetite increased with investors cheered by a weakening yen and receding fears over the banking sector.

The benchmark Nikkei 225 index gained 0.93 percent, or 258.55 points, to close at 28,041.48, while the broader Topix index added 1.02 percent, or 20.18 points, to 2,003.50.

The dollar stood at 132.92 yen, against 132.67 yen in New York late Thursday. — AFP

Tokyo shares open lower on Thursday despite gains on Wall Street, where investors cheered the apparent containment of a banking industry crisis that has rattled markets in recent weeks.

The benchmark Nikkei 225 index fell 0.34%, or 95.60 points, to 27,788.18 in early trade, while the broader Topix index slid 0.68%, or 13.50 points, to 1,981.98.

"The Japanese market is expected to start the day with a slight sell-off," as investors unload shares purchased to secure year-end dividends, Monex senior market analyst Toshiyuki Kanayama says in a note. — AFP

Hong Kong stocks extend gains to a third day Thursday following a rally on Wall Street fuelled by easing banking sector worries.

The Hang Seng Index added 0.12%, or 24.39 points, to 20,216.79.

The Shanghai Composite Index gained 0.09%, or 3.01 points, to 3,243.07, while the Shenzhen Composite Index on China's second exchange was flat, inching down 0.40 points to 2,102.97. — AFP

Asian stocks are broadly up on Wednesday to buck losses on Wall Street, led by massive gains for Chinese tech behemoth Alibaba after it announced it would split into six groups.

The Hangzhou-based firm said the changes were intended to "unlock shareholder value and foster market competitiveness".

Alibaba is one of China's most prominent tech firms, with operations spanning cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence. — AFP

Asian stocks were mixed Monday in a cautious start to what could be another rocky week for global markets after a rout in banking shares renewed fears for the sector.

Hong Kong and Shanghai dipped, while Tokyo, Sydney and Singapore rose, following a positive finish on Wall Street last week.

The US Federal Deposit Insurance Corporation (FDIC) announced during Asian trade that First Citizens had agreed to buy Silicon Valley Bank, whose collapse this month had sparked fears of a global contagion in the banking sector.

US President Joe Biden and European officials had sought to calm investors as banking shares tumbled on Friday, triggered by concerns over troubled lender Deutsche Bank. — AFP

Bank shares tumble, jolting stock markets as fears about the health of the financial sector resurfaced with Deutsche Bank now in the eye of the storm.

Markets had rallied earlier this week after financial authorities took steps aimed at preventing contagion from the collapse of US regional lenders this month.

But sentiment soured following decisions by central banks in the United States, Britain and Switzerland to hike interest rates despite concerns about the impact of the monetary tightening on banks. — AFP

Asian markets mostly rise Thursday and the dollar retreated, brushing off a Wall Street fall on hopes the Federal Reserve's latest interest rate hike would be one of its last.

The gains came even as the US central bank's chief Jerome Powell dealt a blow to hopes it could cut borrowing costs later in the year to soothe banking sector fears.

Recent turmoil caused by the collapse of two US lenders and the takeover of Credit Suisse had fanned speculation central banks would pause their inflation-fighting monetary tightening campaign. — AFP

Hong Kong stocks rise at the open Tuesday morning, clawing back some of the previous day's rout, but traders remain on edge over the banking sector following the collapse of two US lenders and the rescue of European giant Credit Suisse.

The Hang Seng Index added 0.62 %, or 118.16 points, to 19,118.87.

The Shanghai Composite Index edged up 0.18%, or 5.93 points, to 3,240.84, while the Shenzhen Composite Index on China's second exchange climbed 0.14%, or 2.88 points, to 2,056.53. — AFP

Asian equities sink following a sell-off in New York on fears over the financial sector, with traders giving short shrift to news of UBS's takeover of embattled Credit Suisse and central bank pledges to provide liquidity to troubled lenders.

The losses came ahead of the Federal Reserve's latest policy meeting this week, with speculation mounting that it will pause its interest rate hikes in order to provide some stability to markets.

The collapse earlier this month of regional lenders Silicon Valley Bank, Signature Bank and Silvergate has sparked fears of contagion across the industry as worried customers withdraw their cash.

The crisis led US authorities last week to promise support for other lenders and depositors, in a move aimed at preventing a run on banks. — AFP

Stocks markets tumble again on as fears of a banking crisis resurface despite massive financial lifelines thrown at embattled lenders to prevent contagion across the sector.

Markets had rallied on Thursday after Wall Street titans including JP Morgan, Bank of America and Citigroup pledged to inject $30 billion into First Republic Bank.

Credit Suisse had also rebounded after it said it would borrow up to $54 billion from the Swiss central bank. — AFP

Hong Kong stocks bounce more than 1% as traders welcome news that several Wall Street banking titans had put together a rescue package for struggling regional US lender First Republic.

The Hang Seng Index climbed 1.23%, or 235.93 points, to 19,439.84.

The Shanghai Composite Index added 0.57%, or 18.37 points, to 3,245.26, while the Shenzhen Composite Index on China's second exchange gained 0.71%, or 14.59 points, to 2,064.08. — AFP

Asian markets rise Friday, tracking New York and European equities, as traders welcome multi-billion-dollar shows of support for troubled banks aimed at soothing concerns about contagion in the sector.

A rollercoaster week was on course to end on a positive note after several Wall Street titans including JP Morgan, Bank of America and Citigroup stumped up $30 billion to deposit into troubled First Republic.

The move came as investors feared the lender could suffer a run of withdrawals by customers worried it would follow Silicon Valley bank and Signature Bank, which went under last week and fuelled fears of another financial crisis. — AFP

Asian markets slide Thursday, led again by banks, with contagion talk sweeping across trading floors owing to fears about European giant Credit Suisse.

Already jittery investors have been in panic mode since the collapse of two regional US banks over the weekend sparked a sell-off across equities and ramped up concerns of a global recession.

While commentators have said the crisis should be contained and most major lenders had little exposure to the firms -- Silicon Valley Bank and Signature Bank -- news of trouble at Credit Suisse once again sent traders running for the hills. — AFP

Asian markets bounce as concerns about contagion from the collapse of two US regional lenders eased while investors turned their attention back to next week's Federal Reserve interest rate decision.

Banks rallied in early exchanges after taking a battering the previous two days in reaction to the demise of Silicon Valley Bank and Signature Bank at the weekend, which were the biggest casualties since the global financial crisis.

But investor worries were soothed by the swift response from US authorities to pledge all depositors would get their cash and that other lenders would be given support. — AFP  

Asian markets sink Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders.

The swift closure of Silicon Valley Bank on Friday, followed by Signature Bank days later, forced US authorities to immediately pledge support for other lenders and depositors.

The move by the Federal Reserve, Treasury Department and Federal Deposit Insurance Corp. provided some reassurance to investors, but shares in several US banks were hammered on fears of a run by customers. — AFP

European stocks plunge and Wall Street equities are mixed after US President Joe Biden seeks to give assurances that America's banking system is sound, following the collapse of two lenders.

The sessions came after US authorities stepped in to protect depositors at Silicon Valley Bank, which collapsed, while regulators took over a second troubled lender. 

US bond yields fell as investors judged the turmoil in the regional banking sector could push the Federal Reserve to become gun-shy on raising interest rates, a move which would be positive for stocks but pushed down the dollar. — AFP

Most Asian markets fall as the closure of two regional US banks sparked fears of contagion in the financial sector, even as officials promised to support customers.

The collapse Friday of Silicon Valley Bank, which specialises in venture-capital financing largely in the tech sector, came after a huge run on deposits left it unable to stay afloat on its own.

That came in response to its announcement of a stock offering and sale of securities to raise much-needed cash. Its shares collapsed 60 percent in New York on Thursday and trading was suspended Friday morning, before regulators said they had closed it down.

SVB is the largest retail bank to fail since the 2008 financial crisis. — AFP

Asian traders shift cautiously Thursday ahead of key US jobs data at the end of the week, after Federal Reserve boss Jerome Powell warns it could ramp up its pace of interest rate hikes if the economy shows no sign of slowing.

Markets have been falling since the start of February as a string of forecast-beating indicators have shattered hopes the US central bank could pause its tightening campaign soon, and even cut borrowing costs by the year's end.

And on Tuesday, Powell delivered another blow by telling lawmakers that with inflation still stubbornly high and the jobs market tight, officials were prepared to hike by half a percentage point at their next meeting as they struggle to control prices. — AFP

Hong Kong stocks edge up slightly in opening trade Thursday morning following the previous day's sharp losses, with focus now on the release of key US jobs data at the end of the week.

The Hang Seng Index rose 0.16%, or 31.17 points, to 20,082.42.

The Shanghai Composite Index ticked up 0.08%, or 2.69 points, to 3,285.94, while the Shenzhen Composite Index on China's second exchange added 0.09%, or 1.80 points, to 2,116.71. — AFP

Markets sink Wednesday, the dollar holds big gains and oil struggles to recover from hefty losses after Federal Reserve boss Jerome Powell opens the door to a quicker pace of interest rate hikes as officials battle to tame inflation.

In much-anticipated testimony to US lawmakers, Powell dealt a hammer blow to traders who had held faint hopes that the central bank could pause its tightening campaign soon and give a much-needed boost to equities.

A string of data in recent weeks has indicated the world's top economy remained in rude health, including strong employment, consumer spending, factory activity and inflation figures. — AFP

Tokyo shares reverse early losses, stabilizing swiftly despite US Federal Reserve chair Jerome Powell hinting at fresh rate hikes to fight inflation.

The benchmark Nikkei 225 index opened in the red but quickly emerged above water, trending up 0.16% or 45.13 points, to 28,354.29, while the broader Topix index rose 0.15%, or 3.13 points, to 2,048.11.

The dollar stood at 137.48 yen, compared with 137.13 yen seen in New York. — AFP 

Wall Street stocks rise for a second straight session Friday, pushing the week into positive territory, as Treasury bond yields retreated.

The yield on the 10-year US Treasury note, which hit multi-month highs earlier in the week amid worries over Federal Reserve monetary tightening, retreated on Friday.

Jack Ablin of Cresset Capital cited a "growing sense" that the Federal Reserve was nearing the end of its rate-hiking cycle, saying "we're within a couple of months of having the Fed finally end this tightening program." — AFP

Hong Kong stocks jump more than 1% at the open of trade Friday morning following a healthy performance on Wall Street as worries about US interest rate hikes calmed

The Hang Seng Index rose 1.34%, or 273.68 points, to 20,703.14.

The Shanghai Composite Index added 0.12%, or 4.12 points, to 3,314.77, while the Shenzhen Composite Index on China's second exchange edged up 0.07%, or 1.43 points, to 2,154.06. —  AFP

Hong Kong stocks open sharply lower Thursday morning as profit-takers jumped in following a more than four percent surge the previous day, while a negative lead from Wall Street added to selling pressure.

The Hang Seng Index sank 1.11%, or 229.69 points, to 20,390.02.

The Shanghai Composite Index lost 0.13%, or 4.34 points, to 3,308.01, while the Shenzhen Composite Index on China's second exchange dipped 0.10 percent, or 2.11 points, to 2,161.71. — AFP

Tokyo shares recover from earlier losses and ends higher, with the market supported by China's positive economic data.

The benchmark Nikkei 225 index climbed 0.26%, or 70.97 points, to close at 27,516.53, while the broader Topix index rose 0.23%, or 4.53 points, to 1,997.81.

The Tokyo market started lower "following losses on Wall Street where the prospect of prolonged monetary tightening by the US Federal Reserve weighed on once again," Iwai Cosmo Securities said in a note. — AFP 

Hong Kong stocks jump more than 3% in morning.

Hong Kong stocks open slightly higher Tuesday on mild bargain-buying following a recent sell-off, though traders remain concerned about the Federal Reserve's determination to ramp up interest rates to tackle inflation.

The Hang Seng Index edged up 0.38%, or 76.66 points, to 20,020.17.

The Shanghai Composite Index added 0.24%, or 7.71 points, to 3,265.74, while the Shenzhen Composite Index on China's second exchange ticked up 0.34%, or 7.17 points, to 2,132.04. — AFP

Wall Street stocks finish an ugly session decisively lower Friday after another round of hot inflation data exacerbated worries over monetary policy.

The Federal Reserve's preferred gauge of inflation, the personal consumption expenditures price index, rose 5.4 percent last month from January 2022.

The report is the latest indicator to suggest the central bank still faces significant challenges in addressing sticky pricing pressure. — AFP

Asian markets are mixed Friday, with traders still occupied by long-running interest rate worries, though Tokyo rallied after the man tipped as Japan's next central bank head made the case for keeping its ultra-loose policy.

Analysts said the realization that the Federal Reserve will further hike borrowing costs and hold them there appears to have sunk in among investors, who were betting on a cut by year's end as 2023 began.

That has seen equities across the globe tumble this month after rallying throughout January, and observers warn this could be another bumpy year after the turmoil of 2022. — AFP

Markets are mixed Thursday, with little buying enthusiasm after minutes from a Federal Reserve policy meeting indicated interest rates will likely keep rising longer than previously feared.

A blockbuster jobs report and sticky inflation data this month have dealt a hammer blow to earlier expectations the US central bank could soon pause its monetary tightening campaign or even cut borrowing costs before year's end.

Several Fed officials have lined up to warn traders they were too optimistic and that with the labour market still strong, rates would need to keep rising until it had weakened and prices were under control. — AFP

Hong Kong stocks fall again at the open of trade following a broadly downbeat day on Wall Street as Federal Reserve minutes indicated a prolonged period of interest rate hikes.

The Hang Seng Index fell 0.41%, or 84.69 points, to 20,339.15.

The Shanghai Composite Index edged up 0.07%, or 2.37 points, to 3,293.52, while the Shenzhen Composite Index on China's second exchange was flat, inching down 0.11 points to 2,159.71. — AFP

Asian markets sank Wednesday following hefty losses on Wall Street as still-strong economic data fanned expectations that US interest rates will go higher and stay there longer than expected.

Traders are now awaiting the release of minutes from the Federal Reserve's latest policy meeting hoping for an idea about officials' views on how much and how far to lift borrowing costs.

All three main indexes in New York plunged at least two percent Tuesday, with forecast-beating purchasing managers index data showing the US economy remained in rude health despite almost a year of rate hikes and elevated inflation.

The readings followed a massive surge in new jobs in January and a slower-than-hoped drop in inflation, piling pressure on the Fed to continue tightening policy, which many fear could spark a recession. — AFP

Wall Street stocks fall on resurgent worries over Federal Reserve policy and gloomy forecasts from retailers, while European equities also retreated despite some encouraging economic data.

US indices were in the red the entire day, tumbling as the yield on the 10-year US Treasury climbed closer to four percent. This is the latest sign that markets expect more central bank actions ahead, to counter inflation and slow the economy.

Analysts said the pullback reflects recognition that hopes for a quick Fed pivot may have been unrealistic. — AFP

Asian markets are mixed, with traders trying to gauge the outlook for the US economy as they price in more interest rate hikes than previously predicted.

With Wall Street closed Monday for Presidents' Day there were few catalysts for regional investors, with focus on the release later in the week of minutes from the Federal Reserve's most recent policy meeting.

After data this month showed the jobs market continues to boom and prices continue to rise well above the Fed's target, several Fed officials have lined up to warn borrowing costs will need to go much higher for longer than was previously expected. — AFP

Asian markets sink Wednesday as a mixed US inflation report did little to soothe investor worries that the Federal Reserve will continue to ramp up interest rates, which many fear could cause a recession.

The much-anticipated figures from January's consumer price index showed a slight slowdown from the previous month, but the 6.4 percent reading was higher than forecast, suggesting a return to normality will take longer than hoped.

A number of top Fed officials also lined up to restate that borrowing costs will likely need to go higher and for an extended period if they are to bring inflation down to their two percent target. — AFP

Asian equities fall again on growing expectations that US interest rates will go much higher and for longer than previously thought.

While inflation has been trending down for several months, data showing the jobs market remained very tight in January indicated the world's top economy was still robust.

The employment reading led a number of Federal Reserve officials to insist that there was still plenty of work to do before they were happy they had prices under control.

The release Tuesday of the January US consumer price index is in focus, with a stronger-than-forecast reading likely to further weigh on sentiment. — AFP

Asian markets squeeze out gains, giving investors some relief from a recent sell-off fuelled by worries that US interest rates will go higher than feared following last week's blockbuster jobs report.

January's rally has come to a halt this month as investors contemplate an extended period of high borrowing costs aimed at bringing down inflation from multi-decade highs.

While there are signs that price rises are slowing, and the Federal Reserve acknowledged progress in its battle last week, the employment data Friday was seen as a body blow for many. — AFP

Asian equities are mixed as the optimism over a possible pause in Federal Reserve interest rate hikes again gave way to worries about the global economy as more than a year of monetary tightening kicks in.

Disappointing earnings from Wall Street titans Apple, Amazon and Alphabet -- who together are worth almost $5 trillion -- indicated higher borrowing costs and elevated inflation were weighing on consumer demand.

The readings came in towards the end of a week when the stocks rally that defined most of January hit the barriers as traders worried that the buying had been overdone and that there were plenty more bumps in the road for the economy. — AFP

Hong Kong stocks close down on Thursday after a late sell-off as traders struggled to maintain early momentum, despite hopes the Federal Reserve could be nearing the end of its interest rate hike campaign.

The Hang Seng Index fell 0.52%, or 113.82 points, to 21,958.36.

The Shanghai Composite Index was flat, edging 0.75 points up to 3,285.67, while the Shenzhen Composite Index on China's second exchange inched down 0.05%, or 1.10 points, to 2,172.49. — AFP

Most Asian markets bounce back from two days of losses as traders tracked a Wall Street surge fuelled by data pointing to slowing US inflation and hopes the Federal Reserve's rate hike drive is coming to an end.

The gains will provide some relief to investors after January's rally appeared to have hit the buffers this week on lingering concerns about the economic outlook.

Focus is firmly on the US central bank's policy decision later in the day, which will be followed for an idea about its plans for interest rates over the next few months in light of the less painful price environment.

Of particular interest will be bank boss Jerome Powell's post-meeting comments as he and most other officials have consistently pushed back against market talk of a change of course from the policy board. — AFP

Hong Kong stocks finish with hefty losses on profit-taking after enjoying a strong January, though mainland Chinese markets climbed as traders returned from a week-long holiday.

The Hang Seng Index fell 2.73%, or 619.17 points, to 22,069.73.

The Shanghai Composite Index added 0.14%, or 4.50 points, to 3,269.32, while the Shenzhen Composite Index on China's second exchange rose 1.16%, or 24.56 points, to 2,150.38. — AFP

Hong Kong stocks build on the previous days' rallies at Friday's open, with investors cheering forecast-beating US data indicating the world's top economy was faring better than thought.

The Hang Seng Index edged up 0.21%, or 48.14 points, to 22,614.92.

Mainland Chinese markets were closed for the Lunar New Year break. — AFP

Tokyo stocks close lower on Thursday, with investors increasingly cautious ahead of Japan's earnings season and also eyeing key US economic data due this week.

The benchmark Nikkei 225 index was down 0.12%, or 32.26 points, at 27,362.75 at the close, while the broader Topix index lost 0.12%, or 2.29 points, to 1,978.40. — AFP

Most Asian markets rose Thursday as the majority returned from the Lunar New Year break on an optimistic note, with inflation slowing and central banks hinting at a lighter approach to tackling prices.

Hong Kong led the way again, helped by hopes that China's reopening will fuel a strong recovery this year, while Bloomberg News said travel and box office numbers for the holidays were encouraging.

But uneven earnings from tech giants largely kept sentiment in check and saw Wall Street end on a soft note, with the Nasdaq in the red.

Traders are now awaiting the release of US growth data on Thursday and the Federal Reserve's preferred gauge of inflation Friday.

Still, Asia continued to outperform after a strong start to the year. — AFP

Asian markets fluctuate as traders in several countries returned from the Lunar New Year break to a soft lead out of Wall Street with recession fears still causing concern.

While equities have enjoyed a strong start to the year as a slowdown in inflation gives central banks room to temper their interest rate hikes, focus is now turning to the impact of last year's increases on the economy.

Worries about the growth outlook and the impact on higher rates on company profits is also offsetting optimism over China's reopening from years of strict zero-Covid measures.

Data showing a slight improvement in US factory and services activity was unable to settle nerves, with the figures still showing the sectors in contraction.

Focus is now turning to next week's Federal Reserve policy meeting, with speculation growing that it will lift rates by 25 basis points. — AFP

Tokyo stocks opened higher on Tuesday as investors took heart from rallies on Wall Street and a cheaper yen against the dollar.

The benchmark Nikkei 225 index was up 1.10 percent, or 297.20 points, at 27,203.24 in early trade, while the broader Topix index added 0.84 percent, or 16.41 points, to 1,961.79.

The dollar fetched 130.60 yen, against 130.66 yen in New York and 129.70 yen in Tokyo late Monday. — AFP

Tokyo stocks surged at the close on Monday, following Wall Street rallies, while a lull in the yen's appreciation against the dollar also supported the Japanese market.

The benchmark Nikkei 225 index jumped 1.33 percent, or 352.51 points, to end at 26,906.04, while the broader Topix index advanced 0.96 percent, or 18.51 points, to 1,945.38.

The dollar slipped to 129.06 yen in the early afternoon before recovering to 129.70 yen in the late afternoon in Tokyo. The levels compared with 129.51 yen on Friday in New York. — AFP

Asian markets are mixed in holiday-thinned trade, while the dollar dropped as investors lowered their expectations for US interest rate hikes.

Tokyo was the standout performer, rallying more than one percent following a blockbuster performance on Wall Street, where all three main indexes enjoyed a strong end to last week thanks to a tech rally.

Comments from top Federal Reserve officials provided support to equities after they indicated the bank could lift rates at a much slower pace as inflation gradually comes down. — AFP

Hong Kong stocks start on a positive note after stuttering for most of the week, as renewed recession concerns offset hopes for China's economic reopening.

The Hang Seng Index rose 0.75 percent, or 161.48 points, to 21,812.46.

The Shanghai Composite Index gained 0.21 percent, or 6.92 points, to 3,247.20, while the Shenzhen Composite Index on China's second exchange added 0.21 percent, or 4.44 points, to 2,116.54. — AFP

Most stocks dropped alongside oil prices Thursday and the dollar weakened after disappointing US data renewed worries about a recession in the world's biggest economy.

The optimism that has flowed through trading floors since the start of the year has taken a knock this week as concern about inflation and rising interest rates are replaced by growth fears and their impact on company profits.

The downbeat mood overshadowed hopes that China's economy will enjoy a strong recovery this year -- having suffered its worst annual growth in 46 years in 2022 -- as it moves away from its zero-Covid policy.

All three main indexes on Wall Street sank more than one percent Wednesday in response to figures showing retail sales, and shrank at the quickest pace in more than a year, while producer prices fell the most since the beginning of the pandemic. 

Industrial production also came in worse than forecast. — AFP

Hong Kong stocks close Wednesday in positive territory, resuming this year's upward march along with most other Asian markets, as traders brush off a weak lead from Wall Street.

The Hang Seng Index added 0.47%, or 100.36 points to 21,678.00.

The Shanghai Composite Index barely moved at the close, inching up 0.16 points to 3,224.40, while the Shenzhen Composite Index on China's second exchange edged up 0.18 percent, or 3.69 points, to 2,097.95.

Asian markets mostly rise Wednesday following a mixed lead from Wall Street as traders fought to maintain the strong start to the year.

Weak earnings from banking titan Goldman Sachs, a jobs warning by Microsoft and a plunge in manufacturing data highlighted the bumpy road ahead for the United States, the world's top economy, even as optimism over inflation and the interest rate outlook improved.

Still, hopes for China's recovery continued to provide much-needed support, with the country's Vice Premier Liu He telling the Davos forum growth will likely rebound this year as it reopens from zero-COVID, and adding that COVID infections had peaked. — AFP

Asian stocks mostly fall Tuesday but pares early losses after data showed China's economy grew more than expected last year, while traders remain hopeful about the country's outlook as it emerges from years of debilitating zero-Covid measures.

The three percent expansion was the slowest in four decades -- excluding pandemic-hit 2020 -- and sharply down from the previous year, as widespread lockdowns and other containment policies hammered business activity.

However, it beat the 2.7 percent forecast and the fourth-quarter reading also topped estimates, while a healthy reading on retail sales provided extra cheer. — AFP  

Analysts say China's economic growth for 2022 is expected to have been among its weakest in four decades after the twin crises of the pandemic and property woes, ahead of Tuesday's GDP announcement.

Ten experts interviewed by AFP forecast an average 2.7% year-on-year rise in gross domestic product (GDP) for the world's second-largest economy, a sharp plunge from China's 2021 growth of more than 8%.

It could also be China's slowest pace since a 1.6 contraction in 1976 -- the year Mao Zedong died -- and excluding 2020, after the Covid-19 virus emerged in Wuhan in late 2019. — AFP 

Asian equities push higher as investors were buoyed by China's reopening and optimism that key data due this week will signal a further slowdown in US inflation.

Traders tracked a Wall Street advance as they brushed off fresh warnings that Federal Reserve rates would continue to rise and a World Bank decision to slash its global growth forecast.

After a stumble Tuesday, regional markets resumed the upward push that has characterised the start of the year thanks to China's emergence from nearly three years of zero-Covid isolation.

The reopening, easing of Beijing's tech crackdown and moves to help the property sector have raised hopes for the world's number-two economy, a crucial driver of world growth. — AFP

Hong Kong stocks finish on the back foot as profit-taking and fresh US interest rate concerns offset optimism over China's economic reopening.

The Hang Seng Index dipped 0.27%, or 56.88 points, to close at 21,331.46.

The Shanghai Composite Index slipped 0.21%, or 6.58 points, to 3,169.51, while the Shenzhen Composite Index on China's second exchange added 0.29%, or 5.96 points, to 2,060.44.  — AFP

Asian markets are mixed Tuesday as growing optimism over China's economic reopening was offset by warnings that US interest rates will continue to rise and stay elevated for some time.

After a torrid 2022, equities have enjoyed a broadly strong start to the new year thanks largely to Beijing's decision to throw off the shackles of its strict zero-Covid policy, which battered the economy.

And while there are concerns about the short-term impact of soaring infections across the country, investors are growing increasingly confident thanks to government pledges of support, including for the troubled property sector. — AFP

Asian markets resumed their strong start to the year Monday, tracking a surge on Wall Street fuelled by hopes that US data will allow the Federal Reserve to slow its pace of interest rate hikes.

All three main indexes in New York soared more than two percent Friday after a closely watched report showed a forecast-busting rise in new jobs but a slowdown in wages growth.

That came as separate figures showed a shock contraction in the crucial services sector -- the first since spring 2020 at the height of the pandemic.

The readings, while suggesting the world's top economy was showing signs of weakness, were seized on by traders hopeful that the Fed will begin to temper its monetary tightening campaign. — AFP

Tokyo stocks rebound, as a weaker yen encourages investors despite overnight falls on Wall Street.

The benchmark Nikkei 225 index added 0.59%, or 153.05 points, to 25,973.85, while the broader Topix index gained 0.37%, or 6.86 points, to 1,875.76.

The market started slightly weak as investors weighed the impact of softer US shares after better-than-expected jobs data reinforced concerns that the Federal Reserve will pursue more interest rate hikes.

Asian investors struggle to maintain the week's positive momentum as they eyed sharp losses on Wall Street that came after forecast-beating jobs data that suggested the Federal Reserve will have to keep lifting interest rates.

Regional markets have enjoyed a strong start to the year, largely thanks to optimism over China's reopening and signs it is toning down its tough talk on a number of issues domestically and geopolitically.

But long-running fears that central bank policy tightening would cause a recession were brought back into play by figures showing more jobs than expected were created in the US private sector last month. — AFP

Asian investors struggle to maintain the week's positive momentum as they eyed sharp losses on Wall Street that came after forecast-beating jobs data that suggested the Federal Reserve will have to keep lifting interest rates.

Regional markets have enjoyed a strong start to the year, largely thanks to optimism over China's reopening and signs it is toning down its tough talk on a number of issues domestically and geopolitically.

But long-running fears that central bank policy tightening would cause a recession were brought back into play by figures showing more jobs than expected were created in the US private sector last month. — AFP

Asian markets rose Thursday, led by Hong Kong after the city's traders extended an impressive start to the year thanks to optimism over China's reopening and officials there making key policy changes to encourage investment.

Oil prices also staged a mild rebound but remain under pressure after losing around nine percent in the previous two days owing to demand concerns.

Asia's advance tracked a rally on Wall Street, which came even as minutes from the Federal Reserve's December meeting showed officials intended to keep lifting rates to fight decades-high inflation.

The upbeat mood has been boosted by signs that China is implementing policy changes to make it a more attractive investment location. — AFP

Asian markets built on their positive start to the year Wednesday as investors brushed off a drop on Wall Street and weighed China's reopening moves with surging Covid cases, while recession concerns kept any rally in check.

China's shift out of almost three years of zero-Covid has been widely welcomed but the breakneck speed at which authorities have lifted restrictions has led to an explosion of cases across the country, dealing another battering to economic activity.

However, analysts said concerns about the impact of the mass outbreak were playing off against optimism that the long-term outlook was positive as infections eventually come down and businesses restart. — AFP

Asian stocks start on the back foot as traders in most markets return from the new year break to the same worries over interest rates, China's growth and the Ukraine war, which fuelled a worldwide rout last year.

While 2022 was painful for investors, there is a fear that the next 12 months could be as bad, with the head of the International Monetary Fund warning a third of the global economy could slip into recession.

Eyes are on China, where the swift removal of most zero-Covid measures has sparked a massive surge in infections that has filled up hospitals and left crematoriums overloaded. — AFP 

Official data show Singapore's economy grew more than expected last year but much slower than in 2021, as analysts warned of weaker growth ahead owing to an expected recession in key markets.

While the 3.8% on-year expansion was welcome, it was weighed by a 3.0% contraction in the key manufacturing sector in the final three months.

Growth in the fourth quarter came in at 2.2%, sharply down from 4.2% in July-September, according to advance estimates by the trade ministry. — AFP

Wall Street stocks mark a gloomy end to 2022, slumping to close lower in their worst annual showing in years.

Surging inflation and steep interest rate hikes to cool demand have battered markets and investor sentiment this year, on top of global shocks like Russia's invasion of Ukraine.

"The last trading day of the year just confirmed what we had all year, a horrible stock market," says Peter Cardillo of Spartan Capital Securities. — AFP

Asia-Pacific stocks fall in early trade on Thursday as the COVID-19 surge in China cast a shadow over markets across the region.

Investors had cheered the easing of China's strict zero-Covid controls -- which had hammered the world's second-largest economy -- but are now worried about the impact of the outbreak on global supply chains and inflation.

The United States, Japan and Italy have imposed restrictions on visitors from China, and a senior US official warned that the surge increases the potential for new Covid variants to emerge. — AFP

Asian markets fall again Friday after forecast-beating US data fuelled expectations that the Federal Reserve will lift interest rates well into next year.

A glum warning from top chipmaker Micron and worries about China's surging Covid cases added to the less-than-Christmassy mood on trading floors.

Investors have been on a rollercoaster ride this month with slowing inflation and an easing of monetary policy hikes offset by central bank warnings that borrowing costs will likely have to go higher than expected.

Those worries were increased by the Bank of Japan's shock decision this week to move away from its ultra-loose monetary policy, increasing bets on an even more restrictive investment environment in 2023. — AFP

Wall Street stocks tumble, closing in a sea of red after data that indicated a strong labor market and better-than-expected economic growth.

The Dow Jones Industrial Average closed 1.1% down at 33,027.49, while the broad-based S&P 500 Index lost 1.5% to 3,822.39.

The tech-rich Nasdaq Composite Index plunged 2.2% to 10,476.12. — AFP

Asian markets extended a Wall Street advance into Thursday as forecast-busting US earnings and consumer confidence data tempered worries about a deep recession.

With dust settling after the Bank of Japan's surprise shift from ultra-loose monetary policy, investors embarked on a mini Santa rally ahead of the Christmas break, while the yen stabilised following its biggest jump in 24 years.

The global gains came after hefty selling since the Federal Reserve and European Central Bank last week signalled they would likely lift interest rates higher than expected to fight decades-high inflation.

Investors, looking for some good news, pounced on a survey showing consumer confidence in the US economy jumped in December more than estimated -- to the highest since April -- as inflation showed signs of easing and energy prices cooled. — AFP

Japan's central bank tweaks its longstanding monetary easing program on Tuesday, in a surprise move that saw the yen strengthen quickly against the dollar while Tokyo stock markets fell.

After a two-day policy meeting, the bank says it would widen the band in which it would allow rates for 10-year Japan government bonds to move, saying it would "improve market functioning".

"The Bank will expand the range of 10-year JGB yield fluctuations from the target level: from between around plus and minus 0.25 percentage points to between around plus and minus 0.5 percentage points," it says in a statement. — AFP

Asian markets fell on Monday as traders weighed the prospect of a global recession caused by central bank moves to fight inflation.

Equities took a turn south last week after monetary policymakers around the world signalled that while price rises appeared to be stabilising, more work would be needed to get them under control.

All three main indexes on Wall Street ended sharply lower Friday after the Federal Reserve warned that it would continue tightening monetary policy into 2023.

That was followed by similar warnings from the European Central Bank and Bank of England, while data suggested economies were feeling the pinch, dealing a blow to sentiment heading into the Christmas break.

"With no shortage of economic headwinds, investors struggle to find something cheerful about this holiday week after the two most dominant central banks cast a pall over the proceedings," said SPI Asset Management's Stephen Innes. — AFP

Asian stocks fall Friday as investors contemplate interest rates going higher than expected for an extended period after central banks reaffirmed their commitment to bringing down inflation.

After a healthy rally in recent weeks fuelled by signs that price rises were slowing, the US Federal Reserve and European Central Bank this week crushed any Christmas spirit by hiking borrowing costs again and warning of more pain to come.

While inflation in most countries has started coming down from the highs seen earlier this year -- helped by a drop in energy costs -- they remain at multi-decade highs.

And observers have warned that economies could be heading for a period of stagflation where prices keep rising but growth stalls. — AFP

Asian and European equities fall Thursday after the Federal Reserve signalled US interest rates would go higher than expected and warned the world's biggest economy would grow less than expected next year, fanning fears a recession is on the way.

Traders took their lead from Wall Street, where a more hawkish statement than expected dented hopes the central bank could soften its approach to fighting inflation.

Markets had rallied after data on Tuesday showed the consumer price index rose less than forecast in November, marking a fifth straight slowdown and the lowest level since December last year.

But the Fed appeared less inclined to accept that the recent figures were enough to indicate enough progress was being made. — AFP

Asian markets rise and the dollar struggles to recover as investors welcome softer-than-expected US inflation data that could allow the Federal Reserve to slow down its pace of interest rate hikes.

The reading provided some much-needed Christmas cheer on trading floors and came the day before the US central bank's last policy decision of the year, which will be pored over for clues about its plans for 2023.

There is also some focus on China as it continues to roll back its strict zero-Covid strategy that has battered the world's number two economy, though fears of a sharp surge in infections are causing some unease among dealers. — AFP

Asian markets are mixed Tuesday as nervous investors sat tight ahead of key US inflation data and a Federal Reserve policy decision but fresh pledges by China to open up from zero-Covid offered support.

The region was given a positive lead after Wall Street's three main indexes raced out of the traps Monday, with analysts citing a survey by the central bank that showed inflation expectations falling.

The November consumer price index figures later in the day follow Friday's forecast-beating print on wholesale inflation, which dented hopes the Fed could take a more dovish tilt in its monetary-tightening campaign.

The central bank is then widely expected to lift interest rates 50 basis points on Wednesday -- a slowdown from the previous four 75-point hikes -- but its post-meeting statement and comments from boss Jerome Powell will be closely followed. — AFP

Asian markets dropped and the dollar edged up Monday after a forecast-beating US inflation reading dampened hopes for a more dovish tilt by the Federal Reserve in its battle against soaring prices.

The producer price index reading for November followed data showing the jobs market remained tight, suggesting the central bank would likely need to keep hiking interest rates.

Investors are now looking to the release later in the day of key consumer price index figures, which comes ahead of the Fed's next policy meeting.

A below-forecast print for October's CPI sparked a rally on markets last month as investors bet on a shorter pace of rate hikes, though concerns about a recession continue to weigh on sentiment.

"An ominous feeling is consuming markets ahead of this week's crucial CPI report and (Fed policy) meeting," said Stephen Innes at SPI Asset Management.

"While headline inflation continues to drop, the top-side beat on PPI expectations suggests that while inflation might climb down the mountain, the slope remains very uncertain." — AFP

Asian markets are mixed as optimism about China's economic reopening continues to face off against concerns about rising interest rates and a possible recession.

With few Thursday catalysts to work with, traders were setting their sights on the release of two key US inflation reports -- on Friday and Monday -- and the Federal Reserve's final policy meeting of the year.

In light of data signalling almost a year of interest rate hikes was beginning to impact prices, the US central bank is widely expected to announce a 50 basis point lift at the gathering, compared with the previous four straight 75-point increases.

But there remains some concern that the world's top economy remains resilient and the jobs market too strong, meaning the Fed might have to keep tightening monetary policy longer than had been hoped. — AFP

Hong Kong stocks open slightly higher, building on the previous day's surge, following a healthy lead from Wall Street as traders weigh China's economic reopening moves against concerns over a US recession.

The Hang Seng Index edged up 0.17%, or 34.00 points, to 19,484.23.

The Shanghai Composite Index was flat, inching down 0.23 points to 3,197.12, while the Shenzhen Composite Index on China's second exchange was also barely moved, edging up 0.34 points to 2,064.72. — AFP 

Asian investors extended a sell-off across global markets Wednesday while oil held losses on growing fears Federal Reserve monetary tightening will tip the US economy into recession.

The drop followed another day deep in the red for New York's three main indexes after the heads of Wall Street's leading banks warned of tough times ahead in 2023.

JPMorgan Chase chief Jamie Dimon tipped a "mild to hard recession" and Goldman Sachs' David Solomon said jobs and pay would be hit, while Morgan Stanley and Bank of America were also uneasy about the outlook.

The comments added to the downbeat mood that has coursed through trading floors at the start of the week, after forecast-beating reports on jobs and the giant US services sector fanned worries the Fed will have to push interest rates higher than hoped. — AFP

The dollar struggles to recover Friday from its recent sell-off as traders grew confident the Federal Reserve will slow its pace of interest rate hikes, while a recent equities rally sputtered as focus turns to key US jobs data.

Another positive inflation data release out of the United States added to expectations that the US central bank will take a lighter approach to lifting borrowing costs at its December meeting.

The personal consumption expenditures price index data came a day after Fed boss Jerome Powell indicated that the days of 75 percentage-point rate increases were gone as officials pore over the impact of tightening on the economy.

A report showing factory activity shrinking in November added to the sense that the Fed moves were kicking in.

The developments gave forex traders another reason to shift out of the dollar, pushing it down against its major peers -- having surged this year on the back of hawkish Fed policy. — AFP

Asian stocks extend a global rally and the dollar sinks after Federal Reserve boss Jerome Powell flagged a rate hike slowdown and China signalled a softer approach to fighting COVID-19.

A growing sense of hope that months of sharp monetary tightening around the world is finally reining inflation back from its decades-long highs sent equities surging in November, even as policymakers warned more work had to be done.

And in a much-anticipated speech Wednesday, Powell says the full effects of the Fed's belt-tightening had yet to be felt but that it "makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down". — AFP

Markets rise Wednesday on hopes that China will further ease its strict Covid containment measures following widespread protests, though gains were tempered by leaders' warnings of a crackdown on dissent.

Traders are also nervously awaiting a key policy speech by Federal Reserve chief Jerome Powell later in the day that could outline the bank's strategy for tackling inflation in light of a recent slowdown in price gains.

A spectacular rally in Hong Kong on Tuesday led gains across Asia as investors looked past weekend demonstrations in China after officials announced moves aimed at softening the zero-COVID strategy. — AFP

Asian equities rise and the dollar weakens Tuesday as China avoided another night of protests after a weekend of unrest, with speculation growing that officials will announce a further easing of the country's strict containment measures.

The gains were led by a rally in Hong Kong and Shanghai, with property firms enjoying a much-needed surge on the back of moves to ease funding restrictions on troubled developers.

But sentiment was tempered by warnings from top Federal Reserve policymakers that US interest rates would rise further and could go higher than initially thought to fight inflation. — AFP

Hong Kong stocks rally more than 3% in the morning session Tuesday, led by a surge in property and tech firms.

The Hang Seng Index jumped 3.66%, or 633.41 points, to 17,931.35.

The Shanghai Composite Index added 1.72%, or 52.98 points, to 3,131.53, while the Shenzhen Composite Index on China's second exchange put on 1.50%, or 29.55 points, to 2,003.62.

Revised official data show Germany's economy grew more than previously thought in the third quarter despite high inflation and an energy crisis.

Europe's biggest economy expanded by 0.4% between July and September compared to the second quarter -- slightly better than the 0.3% growth previously calculated by federal statistics agency Destatis.

Analysts had forecast a contraction in the third quarter as the fallout from Russia's war in Ukraine takes a toll on European economies. — AFP

Global stocks mostly rise, shrugging off worries about inflation and the potential reinstatement of severe China COVID-19 restrictions ahead of the kickoff of the holiday shopping season.

London, Paris and Frankfurt closed in the green while Wall Street secured solid gains following a rally in beaten-down tech shares such as Facebook parent Meta and Google parent Alphabet that have lagged the broader market for much of 2022.

Briefing.com analyst Patrick O'Hare says Tuesday's rally reflected "the vicissitudes of a holiday market" two days before the Thanksgiving break when there were few major economic indicators. — AFP

Wall Street stocks finish lower despite a surge in Disney shares as markets fretted over the implications of China's latest COVID-19 wave.

China has reported its first coronavirus death in six months as country officials contend with another uptick in infections.

Some of Beijing's largest shopping malls were closed Sunday, while others reduced opening hours or banned table service at restaurants as officials urged residents to avoid non-essential travel. — AFP

Asian and European stocks mostly fell Monday, with investor sentiment hit by renewed Covid concerns in China.

Shares headed lower as China's first coronavirus death in six months sparked fears officials would reimpose strict, economically painful restrictions to fight outbreaks across the country.

Oil prices also slid on fears over energy demand in China, the world's second biggest economy.

• London — FTSE 100: DOWN 0.1% at 7,380.96 points
• Paris — CAC 40: DOWN 0.2% at 6,629.85
• Frankfurt — DAX: DOWN 0.6% at 14,342.54
• EURO STOXX 50: DOWN 0.5% at 3,906.26
• Tokyo — Nikkei 225: UP 0.2% at 27,944.79 (close)
• Hong Kong — Hang Seng Index: DOWN 1.9% at 17,655.91 (close)
• Shanghai — Composite: DOWN 0.4% at 3,085.04 (close)
• New York — Dow: UP 0.6% at 33,745.69 (close)

Tokyo shares opened higher Monday as bargain hunters stepped into the market following gains in US stocks.

The benchmark Nikkei 225 index added 0.16%, or 44.72 points, to 27,944.49 in early trade, while the broader Topix index rose 0.28%, or 5.5 points, to 1,972.53.

Investors cheered gains on Wall Street on Friday when the Dow advanced 0.59% while the Nasdaq managed to end flat after shedding earlier losses. — AFP

Updates on stock markets around the world for the last quarter of the year till the first quarter of 2013.