- Turkish govt defends tax plan to fund defence industry
- Oil prices tumble on easing Middle East fears
- Eidevall quits as Arsenal Women head coach
- US, Philippines launch war games after China's Taiwan drills, ship collision
- Swedish prosecutor confirms 'rape' probe without naming Mbappe
- England dismiss Ayub but Pakistan reach 173-3 at tea in second Test
- Israel vows to put 'national interest' first in response to Iran attack
- Oil prices hit by easing Middle East fears, most Asian markets rise
- Mbappe-PSG salary row faces hearing as France captain cited in 'rape' report
- K-pop star tells South Korea lawmakers of workplace bullying
- Ex-Wallabies captain Elsom denies wrongdoing after arrest warrant
- Pakistan 79-2 at lunch in second England Test after Leach strikes
- Hopes pinned on peace across Taiwan Strait after drills
- Valencia fans leave Singapore with 'stern warning' after protest
- Falling sales cause sour grapes for iconic Portugal wine
- Belgian pathologist and literary star gives 'voice to the dead'
- Ethiopia's 'korale' recyclers turn waste into money
- Italy row, AI in focus at world's biggest book fair
- US, Philippines launch war games a day after China's Taiwan drills
- Scotland lock Gray signs for Japan's Toyota
- Allen and Bills foil Rodgers, outlast Jets 23-20
- North Korea blows up roads connecting it to the South
- East Timor fights new battles 25 years after independence vote
- Japan election campaigns kick off for Oct 27 vote
- Home runs propel Mets, Yankees to MLB playoff victories
- Taiwan detects record 153 Chinese military aircraft after drills
- Oil prices drop on easing fears over Middle East, most markets rise
- Reoxygenating oceans: startups lead the way in Baltic Sea
- North Korea's Kim holds security meeting over drone flights
- Cars, chlamydia threaten Australian koalas
- Small town India's DIY film industry comes to London
- Harris slams Trump over military threat to 'enemy from within'
- Can biodiversity credits unlock billions for nature?
- Texas poised to execute autistic man for 'shaken baby' death
- King Charles III heads to Australia and Commonwealth meeting
- In the Colombian Pacific, fighting to save sharks
- Argentina's Matera banned for Italy Test after red card
- Vientos grand slam propels Mets in series-tying win over Dodgers
- Supporters of ex-Bolivia leader Morales block roads over possible arrest
- Germany into Nations League quarters, France and Italy win
- Nagelsmann lauds 'supercharged' Germany's 'best half of the year'
- 'Pandas are coming': Two new bears depart China for US capital
- Dodgers pitcher Kershaw plans to return for 2025
- Mbappe 'investigated for rape' in Sweden: report
- Revived Italy sweep past Israel in Nations League amid high security
- Trudeau slams India as tensions soar over Sikh separatist's murder
- Harris courts Black voters as Trump makes inroads
- Wall Street stocks hit fresh records as oil prices slide
- Nigerian team return home after boycotting AFCON qualifier in Libya
- Nigeria refuse to play in Libya as Algeria, Cameroon qualify
Europe stocks drop but China stimulus lifts Asia
Europe's main stock markets slid in subdued trade Wednesday, but Asia rallied after China unveiled plans for $137 billion in extra debt to boost infrastructure spending.
Traders remain aware that the ongoing crisis in the Middle East could spiral at any minute as Israel presses on with a bombing campaign of Gaza after Hamas' deadly attacks.
"Asian indices... ended the session in the green on hopes that we will see the Chinese push forward with a major fiscal spending plan," said Scope Markets analyst Joshua Mahony.
"European markets remain in uncertain territory, with indices struggling for direction of late," he added on the eve of a eurozone interest rate decision.
German business sentiment improved slightly in October, a survey showed Wednesday, but analysts warned the Israel-Hamas conflict posed new risks as Europe's top economy struggles to emerge from a downturn.
Traders also eyed a rally on Wall Street that was helped by a strong set of numbers from big-name firms including Coca-Cola, Verizon and 3M that fuelled optimism for the earnings season, with Meta set to report later.
Yet geopolitical crises continue to cast a shadow, with a broader Middle East war still possible and many fearing it could send crude and inflation soaring.
- China plan -
In Asia, Hong Kong led gains Wednesday after China approved a plan to issue 1 trillion yuan ($137 billion) in sovereign bonds to be distributed to local governments to support national disaster prevention and recovery.
The move will lift the fiscal deficit ratio for 2023 to about 3.8 percent of gross domestic product, the official Xinhua news agency said Tuesday, above the three percent usually considered Beijing's limit.
Leaders rarely alter the budget mid-year, but it did happen in 2008 after the Sichuan earthquake and during the Asian financial crisis in the late 1990s.
Bloomberg News reported that President Xi Jinping paid his first known visit to the central bank, indicating the increased focus the government is putting on the economy.
The announcement follows a series of small, targeted measures aimed at lifting the economy, which has struggled to recover from the impact of years of zero-Covid measures.
- Key figures around 1050 GMT -
London - FTSE 100: DOWN 0.1 percent at 7,381.83 points
Frankfurt - DAX: DOWN 0.3 percent at 14,836.96
Paris - CAC 40: DOWN 0.4 percent at 6,868.48
EURO STOXX 50: DOWN 0.3 percent at 4,051.47
Tokyo - Nikkei 225: UP 0.7 percent at 31,269.92 (close)
Hong Kong - Hang Seng Index: UP 0.6 percent at 17,085.33 (close)
Shanghai - Composite: UP 0.4 percent at 2,974.11 (close)
New York - Dow: UP 0.6 percent at 33,141.38 (close)
Euro/dollar: DOWN at $1.0574 from $1.0590 on Tuesday
Dollar/yen: UP at 149.92 yen from 149.91 yen
Pound/dollar: DOWN at $1.2123 from $1.2160
Euro/pound: DOWN at 87.22 pence from 87.89 pence
Brent North Sea crude: UP 0.1 percent at $88.17 per barrel
West Texas Intermediate: DOWN 0.1 percent at $83.69 per barrel
X.Karnes--AMWN