- UN holds 'Summit of the Future' to tackle global crises
- Marxist leader set to become Sri Lanka's next president
- From blades to pull-up bars: UK charity tackles knife crime
- Swiss vote on pensions and environment protections
- No pain, no gain: Chinese pro wrestlers fight for recognition
- UAE leader seeks to deepen 'strategic' ties in US visit during Mideast crisis
- Hezbollah takes heavy hits but still fighting Israel
- Floods, landslides hit central Japan months after major quake
- All Blacks coach Robertson demands better finishing
- Argentina edge South Africa to keep title hopes alive
- Biden says China 'testing us,' in hot mic remarks to Quad allies
- Dubois destroys Joshua to retain IBF world heavyweight crown
- Guardiola says critics want Man City wiped 'from face of the Earth'
- Biden says 'Quad' is 'here to stay' despite challenges
- Dubois knocks out Joshua to retain IBF world heavyweight crown
- Vinicius helps 'faster' Madrid overturn stubborn Espanyol
- Zelensky to press US on long-range missile strikes inside Russia
- PSG drop first points in draw at Reims
- Vinicius, Mbappe on target as Madrid crush plucky Espanyol
- Jeeno leads Ko by two at LPGA Queen City Championship
- Bottega Veneta goes for 'E.T.' chic as Madonna pops into D&G
- Messi, Miami frustrated by New York late leveler
- Musk's X platform takes first step toward lifting Brazil ban
- 'Business as usual' for Australia match-winner Carey amid boos
- Israeli jets pound Lebanon after deadly Beirut strike
- Ten Hag bemoans Man Utd's lack of killer instinct in Palace stalemate
- France's Macron appoints new government in shift to right
- Cheika proud of Leicester grit after winning start as boss
- Profligate Man Utd pay price in 0-0 draw at Palace
- Kane, Olise run riot as Bayern thump Bremen
- Diaz fires Liverpool top of Premier League, Man Utd held at Palace
- LIV champion Rahm out of LIV Team semis with severe flu
- Slot surprised by tearful Nunez's moment of magic
- Title rivals Norris, Verstappen on 'cool' front row for Singapore GP
- Biden talks China with 'Quad' leaders in hometown summit
- Juve and Napoli play out goalless draw in early Serie A title tussle
- Alcaraz fears tennis tour grind will 'kill us'
- Carey sparks recovery as Australia thrash England in 2nd ODI
- Leclerc, Sainz lament 'disappointing' Saturday in Singapore
- Bottega Veneta holds investors' aces as Madonna pops into D&G
- Beirut digs for victims at building flattened in Israeli strike
- Verstappen stages protest over 'ridiculous' swearing punishment
- Bayern boss Kompany lauds 'special talent' Olise
- Diaz fires Liverpool top of Premier League, Spurs bounce back
- Heavy fire over Israel-Lebanon border after deadly Beirut strike
- Ramos guides unbeaten Toulouse to Montpellier win despite Hogg scuffle
- Myanmar flood death toll jumps to 384
- Chelsea owners 'happy' with win at West Ham amid rift report
- Kane and Olise run riot as Bayern thump Bremen
- Ramos guides unbeaten Toulouse to Montpellier win
Asian markets tumble after Federal Reserve chief's comments
Asian markets fell sharply at the open on Friday, trailing losses on Wall Street after the US Federal Reserve boss said an interest-rate hike was likely forthcoming.
Hong Kong and Tokyo both opened deep in the red even as inflation data from Japan was in line with market expectations and better than elsewhere in the world.
A falling yen, due mainly to the interest rate gap between Japan and the United States, had boosted trade on the Nikkei 225 all of this week.
But the prospect of rate hikes in the United States and ongoing pandemic disruptions in China, where millions are still under a harsh Covid-19 precipitated lockdown, weighed on Asian bourses.
Shanghai, Seoul, Sydney, and Taipei were all down.
Fed Chair Jerome Powell's comments reversed fortunes on Wall Street mid-session.
Equities had opened higher following good results from Tesla and upbeat comments from leading airlines as well as solid gains in Paris and Frankfurt.
But US stocks tumbled after Powell, who has signalled the US central bank will have to move more aggressively to counter record US inflation, explicitly said a half-point interest rate increase is "on the table" for next month's policy meeting.
"Red flags are going up today," said Stephen Innes at SPI Asset Management.
"While one day certainly does not make a trend, when the market decides to focus on a super hawkish inflation-fighting Fed narrative stoking recession fears, it typically triggers significant shifts in investor behaviours and conversations, and markets then turn a lot more caution."
Major US indices all finished down more than one percent, while the dollar pushed higher against the euro and other currencies.
Oil prices also took a hit over the Fed's potential monetary policy tightening and dwindling energy demand in China.
Supply concerns linked to the war in Ukraine and protest-related disruptions in Libya were also impacting crude.
"Russian Production decreased, pointing to self and official sanctions starting to bite oil prices bullishly," Innes said.
"It is Friday, and typically, no one wants to go short oil into the weekend for fear of dreadful Ukraine weekend headline risk. So that suggests to me that oil holds a bid barring awful news out of China on the Covid front, where there seems to be some light at the end of the lockdown tunnel."
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: DOWN 1.92 percent at 27,023.88
Hong Kong - Hang Seng Index: DOWN 0.93 percent at 20,490.48
Shanghai - Composite: DOWN 0.10 percent at 3,076.69
Euro/dollar: FLAT at $1.0840 from $1.0840
Dollar/yen: UP at 128.59 yen from 128.35 yen
Pound/dollar: DOWN at $1.3023 from $1.3029
Euro/pound: UP at 83.23 pence from 83.14 pence
Brent North Sea crude: DOWN 0.66 percent at $107.62 per barrel
West Texas Intermediate: DOWN 0.73 percent at $103.03 per barrel
New York - Dow: DOWN 1.1 percent at 34,792.76 (close)
London - FTSE 100: FLAT at 7,627.95 (close)
Frankfurt - DAX: UP 1.0 percent at 14,502.41 (close)
Paris - CAC 40: UP 1.4 percent at 6,715.10 (close)
burs-ssy/reb
O.Krause--BTB