- Four face trial for online targeting of Brigitte Macron
- Macron prepares to name new French PM
- Prison will not silence me, Iran's Mohammadi says
- Dortmund to host Germany's Nations League clash with Italy
- Man City's Walker calls for action after online racist abuse
- Gaza rescuers say Israeli strikes kill 33, hit flour trucks
- French prosecutors seek up to 14 years in jail for rugby players in rape trial
- Climate change intensified back-to-back Philippines storms: study
- 'Unparalleled talent': India lauds new chess king Gukesh
- ECB cuts rates again, Lagarde says eurozone 'losing momentum'
- Brazil's Lula 'cognitively healthy' after operations
- Rate cuts fail to spur European stocks
- Trump 'vehemently' opposed to Ukraine firing missiles deep into Russia
- UN investigators say 4,000 Syrian rights abusers identified
- Indian teen prodigy becomes youngest world chess champ
- ECB cuts rates again as eurozone hit by economic, political woes
- Time Magazine names Donald Trump person of the year for second time
- Macron expected to name new French PM
- Salome Zurabishvili: defiant champion of Georgia's EU dream
- Syria govt pledges 'rule of law' after Assad's overthrow
- 'No longer of this time': Miss Netherlands pageant scrapped
- Gaza rescuers say Israeli strikes kill 33
- Swiss central bank announces big rate cut to boost economy
- European stocks rise after surprise Swiss rate cut
- Cycling chiefs move to ban controversial carbon monoxide use
- Fourth suspect held in deadly Dutch building collapse
- Suspense mounts as Macron expected to name new French PM
- Russians suffer rising costs of Ukraine conflict
- K-pop, carols, free food at South Korea impeachment protests
- Syrian whose selfie with Merkel went viral wants to stay in Germany
- Sweden ends rape investigation allegedly targeting Kylian Mbappe
- Israel condemned by media groups over Gaza journalist 'massacre'
- Sweden ends rape inquiry allegedly targeting Kylian Mbappe
- Gaza rescuers say Israel kills 33 in morning strikes
- Suspense mounts as Macron prepares to unveil new French PM
- 'Taste of love': Donkey milk cheese meets success in Albania
- Fears for the future as drug deaths among young Finns soar
- Asian markets rise after Wall St record; eyes on China
- Nationalist minister tests Slovak culture, LGBT limits
- Blown off course, turbine giant Orsted seeks second wind
- Gisele Pelicot: France rape survivor who became a feminist hero
- Kevin Johnson: US boxer fighting for Putin's Russia
- How an ex-inmate of brutal Syria jail overcame trauma by helping others
- Hawks beat Knicks, Rockets down Warriors to reach NBA Cup semis
- 'Alarming' US mystery drones confound officials, scare locals
- Korean Air buys majority stake in rival Asiana Airlines
- Australia to force tech titans to pay for news
- Australia to force tech titans to pay for news shared on platforms
- Taiwan detects 16 Chinese warships around island
- Trump taps election denier to head global media operation VOA
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Most markets climb as calm returns after sharp sell-off
Equities rose in most cities Tuesday in Asia as some stability returned to markets after last week's upheaval, but analysts warned of further pain for traders after central bank officials hinted at more interest rate hikes to reel in inflation.
While there was no catalyst from Wall Street owing to a public holiday, a healthy performance across Europe provided a little boost and bargain-buying was also lending support.
However, there remains an overarching sense of gloom as traders speculate that the sharp lift in borrowing costs around the world will tip economies into recession.
Focus this week is on Federal Reserve boss Jerome Powell's two days of testimony to lawmakers in Washington, which will be closely watched for insight into the bank's thinking and possible clues about its plans for fighting surging prices.
The Fed announced a three-quarter point lift last week, after inflation data days earlier had smashed forecasts and hit a four-decade high.
"While (investors do) not expect Powell to reinvent the policy wheel, we could expect him to reinforce the idea that the Fed is in data-dependent mode," said Stephen Innes of SPI Asset Management.
"Hence, any shift in Fed rhetoric will be a function of incoming data, virtually all of which now presents event risk. From that perspective, further evidence of persistent inflation will trigger policy panic, while any signs of sluggish growth momentum will confirm the recession narrative.
"Neither suggests that now is the time to board the rally wagon."
Tokyo, Hong Kong, Sydney, Seoul, Singapore, Wellington, Taipei, Mumbai, Bangkok and Jakarta all rose but Shanghai and Manila slipped.
London opened barely moved, while Paris and Frankfurt edged up.
"There might be a narrative that we've hit a bottom, we are oversold, the Fed is taking inflation seriously and that might be slightly bullish in the interim," Frances Stacy, of Optimal Capital, told Bloomberg TV.
However, while the volatility of last week has gone, banks' intention to continue hiking rates could cause fresh ructions.
Several officials -- including at the Fed, Bank of England, Reserve Bank of Australia and European Central Bank -- have come out in recent days to flag a further tightening of borrowing costs.
In commodities markets, oil extended gains as traders moved back in after Friday's plunge fuelled by concerns over a possible recession.
The gains have been helped by optimism for a boost to demand as China gradually eases out of its period of Covid containment, while the US summer driving period picks up.
"The physical market is as tight as ever, and thus, the speculative capitulation in futures markets (on Friday) probably shouldn't be taken as a picture of the reality on the ground in the real world," said OANDA's Jeffrey Halley.
"The bottom line seems to be that until we see physical demand destruction, oil and other energy markets are as tight as ever."
- Key figures at around 0720 GMT -
Tokyo - Nikkei 225: UP 1.8 percent at 26,246.31 (close)
Hong Kong - Hang Seng Index: UP 1.5 percent at 21,478.68
Shanghai - Composite: DOWN 0.3 percent at 3,306.72 (close)
London - FTSE 100: FLAT at 7,121.21
Dollar/yen: UP at 135.21 yen from 135.06 yen
Pound/dollar: UP at $1.2268 from $1.2243
Euro/dollar: DOWN at $1.0526 from $1.0528 Monday
Euro/pound: DOWN at 85.80 pence from 86.02 pence
West Texas Intermediate: UP 1.8 percent at $111.52
Brent North Sea crude: UP 0.5 percent at $114.70 per barrel
New York - Dow: DOWN 0.1 percent at 29,888.78 (close)
A.Gasser--BTB