- EU chief says China must 'adapt its behaviour' to solve trade row
- Musk unveils robotaxi, pledges it 'before 2027'
- Lynx rally, stun Liberty in overtime in WNBA Finals opener
- Pogacar hunting 'perfect' season finale with Coppi's Il Lombardia record
- 'Soul of old Baghdad': city centre sees timid revival
- Kittle at the double as Niners hold off Seahawks
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Yankees advance in MLB playoffs as Guardians stay alive
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- Kamada says Japan can close in on World Cup place against Australia
- On US coast, wind power foes embrace 'Save the Whales' argument
- Renewables revolt in Sardinia, Italy's coal-fired island
- Argentina held, Brazil leave it late in 2026 World Cup qualifiers
- Obama blasts 'crazy' Trump in first rally for Harris
- 2024 Nobel Peace Prize, a plea in favour of world order?
- Fry homers as Guardians down Tigers to stay alive in MLB playoffs
- Japan PM presses China's Li on airspace intrusion
- In Trump 'Truths,' conspiracies, attacks -- and doubts about the election
- How Sebastian Stan found a 'relatable' Trump for 'The Apprentice' biopic
- Panama's water wheel trash collector keeps plastic at bay
- It's still 'the economy, stupid,' says US political guru Carville
- Five key dates in the history of the America's Cup
- Zelensky to meet Pope, Scholz as whirlwind Europe tour ends
- At least 10 dead in Florida but Hurricane Milton not as bad as feared
- Far from eye, Hurricane Milton's deadly tornados rampaged Florida
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Argentina held, Bolivia stun Colombia in 2026 qualifiers
- Socceroos have 'nothing to fear' from Japan
- Sean 'Diddy' Combs sex trafficking trial set for May 2025
- Bolivia stun Colombia in World Cup qualifiers
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Greece earn late win against England in Nations League, Italy-Belgium stalemate
- Trump biopic 'The Apprentice' hits US theaters weeks before election
- Pavlidis dedicates 'special' Greece win over England to tragic Baldock
- Wall Street stocks retreat from records on US inflation data
- 'Like a quake': Beirut shaken after deadliest strikes on centre
- Fallen giants Ghana in AFCON trouble after Sudan draw
- Asian leaders meet in Laos with US, Russia on world turmoil
- England gamble backfires as Pavlidis fires emotional Greece to victory
- Obama stumps for Harris, Trump talks US protectionism
- New-look France ease past Israel in Nations League
- Belgium fight back to draw with 10-man Italy in Nations League
- 'Get a life': Hurricane whips up US election storm
- Japan stay perfect in World Cup qualifying
- Relief as Lebanon evacuees dock in Turkey
- Lebanon says 22 dead in Israeli strikes on central Beirut
- NBA boss Silver sees games back in China 'at some point'
- Israel strikes central Beirut, killing 22
Asian markets struggle as US data dents Fed rate cut optimism
Asian markets mostly fell Friday after data pointing to a still-strong US economy raised fresh concerns about inflation and dampened optimism that the Federal Reserve will slash interest rates as much as it expected this year.
Equities across the world surged Thursday in response to the central bank's closely watched dot plot projection that it would lower borrowing costs three times this year, even after figures showed prices ticking up in January and February.
News that the central banks of Switzerland and Mexico had started cutting added to the sense that decision-makers were gearing up to reverse their tightening measures.
All three main US indexes clocked up record highs for a second straight day on the back of a tech rally as traders contemplated an end to the era of two-decade-high rates.
However, Asia struggled to maintain the momentum after a string of data reminded investors that the world's number one economy was still in rude health, resilient to the tighter credit environment.
Sales of existing homes in the United States climbed the most in a year last month, industry figures showed, as buyers got used to elevated borrowing costs, while initial applications for jobless benefits were stuck near historic lows, reinforcing the view that the labour market was still tight.
Meanwhile, the purchasing managers index of manufacturing activity picked up quicker than expected.
"This could potentially lead the Fed to implement interest rate cuts slower than the market anticipates," warned SPI Asset Management's Stephen Innes.
Rodrigo Catril at National Australia Bank said "the composite measure of prices derived by manufacturers and service providers rose to an almost one-year high on the back of continued wage growth and higher fuel costs, suggesting stubborn inflation".
In early trade, most markets were in the red in Asia.
Hong Kong lost two percent and Shanghai gave back more than one percent, with Sydney, Singapore, Seoul, Taipei, Manila and Jakarta also down.
However, Tokyo and Wellington rose.
The yen strengthened slightly after the release of figures showing a 2.8 percent jump in Japanese inflation, which sparked debate about whether the country's central bank will follow up this week's interest rate hike -- the first in 17 years -- with further raises.
The currency took a hit Tuesday following a warning from Bank of Japan boss Kazuo Ueda that officials would take their time after shifting away from their long-running policy of negative rates.
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: UP 0.1 percent at 40,844.53 (break)
Hong Kong - Hang Seng Index: DOWN 2.0 percent at 16,518.81
Shanghai - Composite: DOWN 1.2 percent at 3,040.81
Dollar/yen: DOWN at 151.58 yen from 151.65 yen on Thursday
Euro/dollar: DOWN at $1.0848 from $1.0861
Pound/dollar: DOWN at $1.2647 from $1.2653
Euro/pound: DOWN at 85.76 pence from 85.82 pence
West Texas Intermediate: DOWN 0.6 percent at $80.57 per barrel
Brent North Sea Crude: DOWN 0.6 percent at $85.26 per barrel
New York - Dow: UP 0.7 percent at 39,781.37 (close)
London - FTSE 100: UP 1.9 percent at 7,882.55 (close)
Ch.Kahalev--AMWN