- 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
- Norris pips Verstappen to dramatic Singapore pole after Sainz crash
- 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
Asia stocks track US and European surge, oil ticks up
Asian equities rallied Thursday following a strong bounce on Wall Street and a breathtaking surge in Europe sparked by a plunge in oil prices and bargain-buying following a Ukraine-fuelled rout.
A glimmer of hope for peace talks provided some much-needed support to asset markets, which have been in the grip of extreme volatility in the two weeks since Russia invaded its neighbour, sparking a wave of sanctions against Moscow.
However, commentators urged caution in a time of massive uncertainty, with some warning that further losses for stocks were likely and crude will no doubt remain elevated for some time.
But for now, investors are enjoying a rare moment of calm, lapping up cheaper equities after a blockbuster day for their US and European colleagues.
The Dow jumped two percent, the S&P 500 even more and the tech-heavy Nasdaq an impressive 3.6 percent.
Frankfurt rocketed nearly eight percent and Paris more than seven percent, with analysts also crediting the gains to talk of a plan to issue more joint debt to fast-track green energy and renewables, defence and subsidies for spiking energy costs.
But a key driver of the advance was a massive drop in oil prices, which provided some relief to traders worried about already high inflation being sent even higher.
Brent at one point dropped to as low as $105.60, having hit a peak of $139 two days before, on hopes that the huge amounts of Russian oil taken out of the market by sanctions could be largely replaced by sourcing from elsewhere.
The United Arab Emirates said Wednesday it would urge fellow states in the OPEC oil producers' cartel to boost output, while US talks with massive producer Venezuela appeared to be making progress.
At the same time Iraq has said it could lift output and nuclear talks with Iran were also showing signs of bearing fruit.
Both main contracts fluctuated in Asian trade Thursday but with the war in Ukraine still raging and supplies still tight, expectations are for the commodity to maintain its strength.
Meanwhile, the optimists were given a lift after a top foreign policy aide to Ukraine President Volodymyr Zelensky said the country was prepared to talk about Moscow's demand for it to remain neutral in return for security guarantees.
"Surely, we are ready for a diplomatic solution," deputy chief of staff Ihor Zhovkva told Bloomberg Television.
"Our first and foremost pre-condition for having such kind of negotiations is immediate cease-fire and withdrawal of Russian troops."
That came as Russia's foreign ministry said it would be better if its goals in Ukraine were achieved through talks.
Investors will be keeping a close eye on a meeting between the countries' foreign ministers in Turkey on Thursday, marking the first high-level contact between Kyiv and Moscow since the invasion.
"If you see a resolution of the war in Ukraine -- and we are getting some reports that Russia and Ukraine might be moving closer to the negotiation stage -- that could help shift sentiment," said Nadia Lovell of UBS Global Wealth Management.
But she said she saw further choppiness ahead.
On equity markets, Tokyo bolted almost four percent higher -- its best one-day gain in 21 months -- while Seoul, Mumbai and Taipei gained more than two percent. Shanghai, Sydney, Singapore, Manila and Wellington were up more than one percent while Hong Kong, Jakarta and Bangkok were also in positive territory.
Gold, a safe haven asset in times of turmoil, fell back below $2,000, having almost hit a record on Wednesday, and other commodities that have hit all-time highs -- including wheat and nickel -- also retreated.
However, equity markets remain well down on the year and Stephen Innes at SPI Asset Management said: "It has been a harrowing week for investors; keep in mind these are financial-crises-type markets where everybody is trading headlines and chasing the same momentum intraday.
"But this should prove to be a reminder that systematic flow can move markets both ways, especially when the active investor base sits on the sidelines."
Investors will be closely watching US inflation data later in the day as it could play a part in the Federal Reserve's thinking ahead of an expected interest rate hike this month.
That comes as the European Central Bank holds its own policy meeting, with some commentators suggesting it could step back from tightening measures as it looks to support the economy, despite soaring prices in the eurozone.
- Key figures around 0710 GMT -
Tokyo - Nikkei 225: UP 3.9 percent at 25,690.40 (close)
Hong Kong - Hang Seng Index: UP 0.6 percent at 20,751.25
Shanghai - Composite: UP 1.2 percent at 3,296.09 (close)
Brent North Sea crude: 1.9 percent at $113.29 per barrel
West Texas Intermediate: UP 1.1 percent at $109.87
Euro/dollar: DOWN at $1.1056 from $1.1067 late Wednesday
Pound/dollar: DOWN at $1.3181 from $1.3181
Euro/pound: DOWN at 83.88 pence from 83.94 pence
Dollar/yen: UP at 116.05 yen from 115.86 yen
New York - Dow: UP 2.0 percent at 33,286.25 (close)
London - FTSE 100: UP 3.3 percent at 7,190.72 (close)
M.Odermatt--BTB