- Carey takes Australia to 270 in 2nd ODI against England after collapse
- Two Hezbollah leaders killed in Israel's Beirut strike
- Hungary Danube waters reach decade high after Storm Boris
- Bagnaia cuts Martin's MotoGP lead with Emilia-Romagna sprint win
- Jackson double fires Chelsea to victory at woeful West Ham
- Fiji beat Japan to lift Pacific Nations Cup
- Kasatkina to face Haddad Maia in Korea Open final
- S.Africa snowfall closes roads, strands motorists overnight
- Lawyers of women alleging Al-Fayed sex abuse receive over 150 new enquiries
- President Museveni's son backs Ugandan strongman for 7th term
- Norris quickest as Verstappen bounces back in Singapore practice
- Wallabies lament All Blacks' fast start
- Germany's Oktoberfest opens under tight security after attacks
- Environmental protesters block French cruise liner port
- Hezbollah in disarray after Israeli strike kills top commanders
- No place like home: Biden hosts 'Quad' leaders
- One dead, 7 missing as heavy rains trigger floods in central Japan
- Zelensky says no UK, US go-ahead to use long-range missiles
- New Zealand edge Australia 31-28 in Bledisloe Cup thriller
- Japan orders evacuations as heavy rains trigger floods in quake-hit area
- New Zealand pilot freed in Indonesia after 19 months in rebel captivity
- Hezbollah in disarray after Israeli air strike kills top commanders
- Leading climate activist released from Vietnam jail
- Ethiopians struggle with bitter pill of currency reform
- Sri Lanka votes in first poll since economic collapse
- Feminist author warns of abortion disaster if Trump wins US election
- US city of Flint still reeling from water crisis, 10 years on
- Arsenal's mean defence faces acid test to shut out Man City again
- Late surge lifts Thailand's Jeeno to LPGA Queen City lead
- DeChambeau says PGA's Ryder Cup decision 'just the start'
- Alcaraz defeated on Laver Cup debut
- Postecoglou embraces 'struggle' to make Spurs a success
- Nice hand 'ashamed' Saint-Etienne 8-0 Ligue 1 mauling
- Boeing CEO says ending strike 'a top priority'
- Stock markets mostly fall after Fed-fueled rally
- Harris slams Trump for hypocrisy on abortion as US starts voting
- Academy to host first overseas ceremony to honor young filmmakers
- No doctor necessary: US okays nasal spray flu vaccine for self-use
- Gurbaz, birthday boy Rashid lead Afghanistan to 177-run rout of South Africa
- Former delivery man Baldwin leads star names at PGA Championship
- Trump shooting: Secret Service admits complacency
- Can an ambitious Milei make Argentina an AI giant?
- Haiti, its suffering growing, in 'race against time': UN expert
- Ibrahim Aqil, the Hezbollah elite unit commander wanted by the US
- Chinese forward Cui signs NBA contract with Brooklyn Nets
- US Fed dissenter calls for 'measured' pace of rate cuts
- Guardiola tells players to lead change over workload as Kompany demands cap on games
- Norway limits wild salmon fishing as stocks hit new lows
- Top Hezbollah commander killed in Israeli strike on Beirut
- Rotterdam fatal knife attacker suspected of 'terrorist motive'
Asian markets track Wall St gains, traders wary of hawkish Fed
Asian markets mostly rose Friday after a tough week dominated by the US Federal Reserve's hawkish tone that has set it on an aggressive tightening path, while oil ticked higher after another series of losses.
After a slow start, the region managed to take the lead from Wall Street, which recovered from steep intra-day losses to end on a positive note, having plunged in previous sessions as traders fretted over the prospect of higher interest rates.
While the Fed has made clear it intends to act more decisively to rein in 40-year-high inflation by ramping up borrowing costs and offloading bond holdings, analysts suggested that better clarity on policy was welcome.
The Fed's desire to tighten has sent the dollar rallying against most other major currencies, particularly the euro, which has been weighed by European officials' reticence to move as aggressively on prices. The euro is sitting around a one-month low.
Markets have come under huge pressure this year as the end of ultra-cheap central bank cash, a Covid-fuelled slowdown in China's economic activity, the war in Ukraine and soaring inflation come together in a perfect storm.
Highlighting the difficult task central banks will have in fighting inflation, the UN's Food and Agriculture Organization said Friday that world food prices hit their "highest levels ever" in March as Russia's invasion of Ukraine disrupted wheat and coarse grain exports.
Still, all three indexes on Wall Street ended slightly higher, having bounced back from heavy losses thanks to bargain-buying, while some observers suggested recent selling may have gone too far.
Asia saw a tepid start but most markets enjoyed mild gains towards the end of the day.
Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Taipei, Mumbai, Manila, Jakarta and Bangkok all rose, though Singapore and Wellington were lower.
London, Paris and Frankfurt rallied in the morning, while US futures were also well up.
- Crude concerns -
Still, OANDA's Jeffrey Halley warned traders were "growing warier about China as the Shanghai lockdown drags on" owing to the fast-spreading Omicron virus variant.
"China's Covid-zero policy continues to be its Achilles heel, although there are plenty of other reasons to be a little cautious," he said in a note.
"A serious spread outside of its finance and commercial centre to other large cities will be a big headwind for China's growth, China stocks, and by default eventually, much of Asia."
Crude prices edged up having also endured a downcast week after the United States and allies pledged to release more than 200 million barrels over the coming months to offset the loss of Russian supplies.
The decision comes on top of concerns about demand from China owing to the lockdowns.
Still, there is a feeling that the war in Ukraine, and any possible further sanctions on Russia, could send the oil market higher again.
"I still think... the sentiment-driven sell-off will give way, and fundamentals will reassert themselves, especially as more market participants start fretting about how will the US administration replenish the SPR drawdown," said SPI Asset Management's Stephen Innes.
"Oil prices remain volatile amid concerns over Russian supply against the backdrop of slowing demand in China and a likely depressed US summer driving season due to higher prices at the pump."
He added that "deficits are likely to persist but only moderated by the accelerated strategic stock release from May to November and weaker demand growth".
- Key figures around 0810 GMT -
Tokyo - Nikkei 225: UP 0.4 percent at 26,985.80 (close)
Hong Kong - Hang Seng Index: UP 0.3 percent at 21,872.01 (close)
Shanghai - Composite: UP 0.5 percent at 3,251.85 (close)
London - FTSE 100: UP 1.0 percent at 7,625.18
Brent North Sea crude: UP 0.1 at $100.71 per barrel
West Texas Intermediate: UP 0.2 percent at $96.26 per barrel
Euro/dollar: DOWN at $1.0858 from $1.0880 late Thursday
Pound/dollar: DOWN at $1.3035 from $1.3071
Euro/pound: UP at 83.29 pence from 83.17 pence
Dollar/yen: UP at 124.11 yen from 123.95 yen
New York - Dow: UP 0.3 percent at 34,583.57 (close)
B.Shevchenko--BTB