- From TikTok to Hollywood, the irresistible rise of Italy's Khaby Lame
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- Sri Lanka lead by 202 in first New Zealand Test
- Brook 'not too fussed' by England's batting in heavy Australia loss
- India's Ashwin 'happy' to embrace pressure
- A modern 'Trojan Horse': two days of mayhem in Lebanon
- Third of Burundi mpox cases in children under five: UN
- Man Utd appoint Foster + Partners to develop Old Trafford 'masterplan'
- Israel-Hezbollah exchanges intensify on Lebanon border
- French mayor sorry for 'no one died' remark over mass rape trial
- Mohamed Al-Fayed, outsider shunned by British high society
- Lawyers say 'monster' late Harrods owner abused dozens of women
- India in box seat after Bumrah takes four against Bangladesh
- Taiwan retains death penalty but limits use to 'exceptional' cases
- Ferrari's Leclerc sets early pace in Singapore ahead of Norris
- 10 years into Huthi rule, some Yemenis count the cost
- France poised to finally get new govt
- Kompany, Alonso call for action on player workload amid strike talks
- Liverpool goalkeeper Alisson doubtful for Bournemouth clash
- Bumrah takes four as India bowl out Bangladesh for 149
- Sri Lanka 134-1 to take upper hand in first New Zealand Test
- Bayern's Kompany calls for game cap for players amid strike talks
- Christie's expands Hong Kong footprint in hope of art market 'pickup'
- Sultry screen legend Sophia Loren turns 90
- Cambodian opposition figure in court on incitement charge
- Bumrah takes three wickets to have Bangladesh in trouble at 112-8
- Kimchi threat as heatwave drives up South Korea cabbage prices
- UK economic data delivers fresh blow to new govt
- China to 'gradually resume' seafood imports from Japan after Fukushima ban
- India minister blames dam release for flooding
- O'Rourke strikes early for Kiwis as Sri Lanka trail by three
- Deep takes two as Bangladesh totter in reply to India's 376
- Israel pounds Lebanon's Hezbollah after device blasts
- Revolution or mirage? Controversy surrounds new Alzheimer's drugs
- Ashwin's 113 powers India to 376 in Bangladesh Test
- Biden opens home to 'Quad' leaders for farewell summit
- Sally Rooney returns with 30-something questions
- Wallabies sense 'massive' chance to upset All Blacks
- Taiwan questions two in probe into Hezbollah pagers
- Viral Korean Olympic shooter scores first acting role as assassin
- Farrell set for 'challenge' of downing Bordeaux in Top 14
- Springbok Etzebeth diverts attention from looming caps record
- Inter on a high ahead of Milan derby as Napoli face Juve test
- Bank of Japan leaves key interest rate unchanged
- Arnold quits after six years in charge of Australia
- Asian markets track Wall Street record to extend global rally
- Guirassy and Anton to return to Stuttgart with new side Dortmund
- Marseille bidding to continue 'almost perfect' Ligue 1 start
- Arnold quits as coach of Australia men's football team
- Harris and Oprah hold star-studded US election rally
Markets rise, oil flat after Russia sanctions but traders on edge
Equities mostly rose Wednesday and oil prices stabilised as investors tracked developments in the Russia-Ukraine crisis after world powers imposed less harsh sanctions on Moscow than feared.
However, trading floors remain on edge after Russian President Vladimir Putin ordered his forces into Ukraine to secure the self-declared Donetsk and Lugansk rebel republics, with Western leaders warning that a war could break out imminently.
Global markets have been in turmoil since the move this week, with oil soaring towards the $100 mark not seen since 2014 and other commodities also hitting multi-year highs.
Wall Street, which was closed for a holiday Monday, tanked in early trade but saw a noticeable bounce after US President Joe Biden unveiled a series of sanctions against Russia.
The measures included moves against two Russian banks, cutting the country off from Western financing by targeting Moscow's sovereign debt, and penalising oligarchs and their families who are part of Putin's inner circle.
That came after a series of announcements in Europe with Germany halting certification of the lucrative Nord Stream 2 gas pipeline from Russia, while Britain targeted five banks and three billionaires.
Canada, Japan and Australia have since followed up with their own punishments.
The sanctions were not as bad as feared -- crucially not aiming at Russia's crude exports -- providing some much-needed breathing room for investors and halting the surge in oil prices that has seen both main contracts pile on more than 20 percent so far this year.
Brent, which touched $99.50 on Tuesday, and WTI were slightly lower in Asia.
- 'Considerable risk' -
However, Biden said the moves were only a "first tranche" in response to Putin "carving out a big chunk of Ukraine", and more penalties could follow if he does not change course.
"There's still considerable risk that oil prices may surge above $100 a barrel" if the situation escalates, said Vivek Dhar at Commonwealth Bank of Australia.
"Oil markets are particularly vulnerable at the moment given that global oil stockpiles are at seven‑year lows and that OPEC+ spare capacity is being questioned due to disappointing OPEC+ supply growth."
On Wednesday, Hong Kong, Shanghai, Sydney, Seoul, Singapore, Bangkok, Wellington, Taipei, Mumbai and Jakarta were all in positive territory. Manila slipped. Tokyo was closed for a holiday.
London, Paris and Frankfurt edged up at the open.
The crisis comes just as investors prepare for a series of interest rate hikes by the US Federal Reserve as it tries to rein in 40-year-high inflation.
Commentators say that while a March hike is baked in, forecasts for further increases this year are being affected by events in Europe as officials try to assess the impact on the economy.
"How the Federal Reserve wants to handle that particular issue is really the issue that feeds through to US markets and the broader world," Steven Wieting, of Citigroup Private Bank, said on Bloomberg Television.
OANDA's Jeffrey Halley added: "Markets will likely bubble along sideways now until we see Mr Putin's next move."
"But I have no doubt that Russia/Ukraine still have the potential to deliver a stagflationary shock to the rest of the world if it escalates and oil prices spike to above $130.00 a barrel," he added.
"That would leave many central banks having to... halt monetary normalisation just as inflationary pressures intensified sharply."
- Key figures around 0820 GMT -
Hong Kong - Hang Seng Index: UP 0.6 percent at 23,660.28 (close)
Shanghai - Composite: UP 0.9 percent at 3,489.15 (close)
London - FTSE 100: UP 0.1 percent at 7,504.48
Tokyo - Nikkei 225: Closed for a holiday
West Texas Intermediate: FLAT at $91.90 per barrel
Brent North Sea crude: FLAT at $96.85 per barrel
Euro/dollar: UP at $1.1337 from $1.1330 late Tuesday
Pound/dollar: UP at $1.3609 from $1.3588
Euro/pound: DOWN at 83.31 pence from 83.35 pence
Dollar/yen: DOWN at 115.06 yen from 115.08 yen
New York - Dow: DOWN 1.4 percent at 33,596.61 (close)
K.Thomson--BTB