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- All-round Ashwin powers India to big Test win over Bangladesh
- NZ chase 275 to win first Sri Lanka Test after Patel bags six
- Ashwin bags six wickets as India hammer Bangladesh in first Test
- Nascent French government under pressure on multiple fronts
- Angry French cognac makers see red over Chinese tariffs threat
- Protect the prosciutto: Italy battles swine fever
- 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
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- 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
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- 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
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- Verstappen stages protest over 'ridiculous' swearing punishment
- Bayern boss Kompany lauds 'special talent' Olise
Asian markets mixed but China, Fed keep confidence in check
Asian markets were mixed Tuesday as investors scrabbled to recover from the previous day's rout but fears over the impact of China's Covid-induced lockdowns and the Federal Reserve's plan to hike interest rates quickly continue to drag on sentiment.
The Omicron flare-up across China has led authorities to impose strict containment measures in its biggest cities, shutting off millions of people and threatening to deal a hammer blow to the world's number two economy.
While Shanghai -- the largest city -- has been in lockdown for weeks, Beijing has launched mass testing for nearly all its 21 million residents with many in the capital now fearing the same fate as the financial hub.
The measures have dealt a severe blow to the economy, leading to concerns about the likely knock-on effects for the rest of the world owing to its reliance on goods from China.
The China crisis comes as traders grapple with a hawkish Fed, which is struggling to control inflation, which is sitting at a more than 40-year high.
"For the time being, the spectre of more severe restrictions in China is not being traded from the inflationary side, but rather as a detriment to the global recovery and as a demand-negative shock," said BMO Capital Markets strategists Benjamin Jeffery and Ian Lyngen.
They added that they were "less convinced that the situation will be enough to materially shift" the Fed's plans to aggressively hike interest rates to tame runaway inflation.
US central bank policymakers have said they are keen to lift rates several times this year to get a grip on prices, with boss Jerome Powell indicating a half-point rise next month followed by more before January.
The Fed and China issues are being compounded by the war in Ukraine and all the uncertainty that has brought, while investors are nervously awaiting results and forecasts from the world's biggest companies, hoping for an idea about the impact on their bottom lines.
While Asia suffered a torrid day Monday, Wall Street managed to end on a positive note, helped by news of Elon Musk's $44 billion purchase of Twitter.
But buying remained weak in Asia again Tuesday.
Hong Kong and Shanghai edged up but made only small dents in the massive losses suffered the day before.
Tokyo, Seoul and Jakarta also ticked higher, though Sydney, Singapore, Wellington, Taipei and Manila fell.
Crude prices were slightly higher but were unable to recover fully from the hefty drop seen Monday caused by concerns about demand from China.
"Given Omicron's less-lethal footprint, traders had expected some easing of lockdowns before the Golden Week" holiday next week, said Stephen Innes at SPI Asset Management.
"And with this unlikely to happen, traders were then forced to revalue oil prices lower on a more protracted consumption slump than expected."
- Key figures at 0230 GMT -
Tokyo - Nikkei 225: UP 0.5 percent at 26,726.65 (break)
Hong Kong - Hang Seng Index: UP 0.9 percent at 20,055.84
Shanghai - Composite: UP 0.2 percent at 2,932.90
Brent North Sea crude: UP 0.5 percent at $102.81 per barrel
West Texas Intermediate: UP 0.3 percent at $98.88 per barrel
Euro/dollar: UP at $1.0731 from $1.0716 late on Monday
Pound/dollar: UP at $1.2758 from $1.2744
Euro/pound: UP at 84.11 pence from 84.05 pence
Dollar/yen: DOWN at 127.44 yen from 128.15 yen
New York - Dow: UP 0.7 percent at 34,049.46 (close)
London - FTSE 100: DOWN 1.9 percent at 7,380.54 (close)
C.Kovalenko--BTB