
-
Hamilton rubbishes claims he's lost faith in Ferrari
-
Nintendo Switch 2 sparks excitement despite high price
-
Sri Lanka's crackdown on dogs for India PM's visit sparks protest
-
S Korea police raise security levels ahead of impeachment verdict
-
China vows 'countermeasures' to sweeping new US tariffs
-
Trump jolts allies, foes and markets with tariff blitz
-
France says EU to target US online services after Trump tariffs
-
Tsunoda vows to bring 'something different' after Red Bull promotion
-
Verstappen not happy with Tsunoda-Lawson Red Bull swap
-
Experts accuse 54 top Nicaragua officials of grave abuses
-
Remains of 30th victim of Los Angeles fires found
-
EU to target US online services after Trump tariffs: France
-
How Trump's 'liberation day' tariffs will impact China
-
Malaysia suspends search for long-missing flight MH370
-
Search for long-missing flight MH370 suspended: Malaysia minister
-
Europe hits out at Trump tariffs, keeps door open for talks
-
Myanmar's junta chief to head to Bangkok summit as quake toll surpasses 3,000
-
Lawson vows to prove he belongs in F1 after shock of Red Bull axing
-
Australia sweats through hottest 12 months on record: official data
-
Livestock theft is central to jihadist economy in west Africa
-
South African artist champions hyenas in 'eco-queer' quest
-
Danish PM in 'unity' Greenland visit amid US takeover threats
-
Taiwan says US tariffs 'highly unreasonable'
-
Lawson says ruthless Red Bull axing was 'tough to hear'
-
Heat humble Celtics for sixth straight win, Thunder roll on
-
Trump escalates trade war with sweeping global tariffs
-
Japan says US tariffs 'extremely regrettable', may break WTO rules
-
South Koreans anxious, angry as court to rule on impeached president
-
Juve at in-form Roma with Champions League in the balance
-
Injuries put undermanned Bayern's title bid to the test
-
Ovechkin scores 892nd goal -- three away from Gretzky's NHL record
-
Australian former rugby star Petaia signs for NFL's Chargers
-
China says opposes new US tariffs, vows 'countermeasures'
-
Athletics world watching as 'Grand Slam Track' prepares for launch
-
Heat humble Celtics for sixth straight win, Cavs top Knicks
-
Quake-hit Myanmar's junta chief to head to Bangkok summit
-
New Spielberg, Nolan films teased at CinemaCon
-
Shaken NATO allies to meet Trump's top diplomat
-
Israel's Netanyahu arrives in Hungary, defying ICC warrant
-
Shiny and deadly, unexploded munitions a threat to Gaza children
-
Stocks tank, havens rally as Trump tariffs fan trade war
-
Altomare hangs on to tie defending champ Korda at LPGA Match Play
-
Paraguay gold rush leaves tea producers bitter
-
Health concerns swirl as Bolivian city drowns in rubbish
-
Syria says deadly Israeli strikes a 'blatant violation'
-
Financial markets tumble after Trump tariff announcement
-
Starbucks faces new hot spill lawsuits weeks after $50mn ruling
-
Europe riled, but plans cool-headed response to Trump's tariffs
-
'Shenmue' voted most influential video game ever in UK poll
-
New coal capacity hit 20-year low in 2024: report

Most Asian markets see much-needed rally as Fed's big day arrives
Most Asian markets enjoyed some respite Wednesday from the hefty selling at the start of the week, with focus on the end of the Federal Reserve's policy meeting later in the day, when traders hope it will provide much-needed guidance on its plans for hiking interest rates.
After weeks of uncertainty, the US central bank will finally deliver its views on the state of the world's top economy and how officials plan to tackle inflation that is now at a four-decade high without knocking its recovery off course.
Minutes from its December gathering pointed to a more hawkish tilt, with plans to speed up the taper of its vast bond-buying programme, the selling of the assets it already has and three or four rate increases before the end of the year.
While boss Jerome Powell pledged any tightening would be carefully calibrated, the prospect of higher borrowing costs has rattled markets across the world with most key indexes deep in the red from the start of the year, with Wall Street particularly hard hit.
His comments after the meeting will be pored over for signs of the Fed's plans, which most commentators believe include a first hike in March.
Analysts were leaning positive ahead of the meeting.
Frances Stacy, at Optimal Capital, told Bloomberg Television that Powell would try to take a less hawkish tone, saying policy would be guided by data while supply chains were improving and inflation showed signs of peaking.
"I think what that's going to do is potentially reassure markets that the Fed put is ready, willing and able," she said, referring to the bank's past in backstopping markets. "That could cause some serious enthusiasm and a short squeeze."
Michael Hewson at CMC Markets added: "While no changes to policy are expected ... markets will be looking for clues as to how concerned Fed officials are about headline (consumer inflation) and whether they might be leaning towards a potential 50 basis point hike in March, rather than the 25 that is currently priced.
"Given the volatility this week, any sort of indication that Fed officials were leaning in this direction would be risky. However it wouldn't be beyond the realms of possibilities for them to put the idea out there."
Meanwhile, markets strategist Louis Navellier saw three rate hikes this year and that after the recent bout of selling across markets, buying opportunities were emerging.
"I'm very comfortable that we are going to have a bottom here soon. Remember, the market is a manic crowd," he said in a note.
After a second day of high volatility in New York, Asia enjoyed a little more stability.
Hong Kong, Shanghai, Singapore, Wellington, Jakarta and Bangkok rose, though Tokyo, Seoul, Taipei and Manila edged down. Sydney and Mumbai were closed for holidays.
However, while there remains some optimism among analysts about the outlook, the International Monetary Fund on Tuesday lowered its growth outlook for the global economy saying it has started the year "in a weaker position than previously expected".
It said Omicron threatened to set back the recovery as countries impose containment measures, while other issues remained, including inflation and geopolitical tensions.
Included in those tensions is the standoff on the Ukraine-Russia border, with Moscow building up troop numbers and the West led by the United States warning the risk of an invasion "remains imminent".
US President Joe Biden said such a move would prompt "enormous consequences" and even "change the world", adding that he would consider imposing direct sanctions on Russian counterpart Vladimir Putin on top of a raft of measures being drawn up.
- Key figures around 0710 GMT -
Tokyo - Nikkei 225: DOWN 0.4 percent at 27,011.33 (close)
Hong Kong - Hang Seng Index: UP 0.1 percent at 24,265.27
Shanghai - Composite: UP 0.7 percent at 3,455.67 (close)
Euro/dollar: DOWN at $1.1297 from $1.1305 late Tuesday
Pound/dollar: UP at $1.3509 from $1.3507
Euro/pound: DOWN at 83.64 pence from 83.66 pence
Dollar/yen: UP at 113.95 yen from 113.87 yen
West Texas Intermediate: DOWN 0.1 percent at $85.50 per barrel
Brent North Sea crude: UP 0.1 percent at $88.31 per barrel
New York - Dow: DOWN 0.2 percent at 34,297.73 (close)
London - FTSE 100: UP 1.0 percent at 7,371.46 (close)
M.White--AT