- Stewart leads Liberty past Lynx to level WNBA Finals
- England return to winning ways in Nations League, Austria thrash Norway
- UN chief says attacks on UNIFIL 'may constitute a war crime'
- Ravens outlast Commanders while Bucs batter Saints in NFL
- Dozens hurt in Israel as Hezbollah claims drone strike
- England deserve 'world class' coach: Carsley
- Burkina Faso win to become first qualifiers for 2025 AFCON
- AC Milan's Pulisic among five out for USA match in Mexico
- France's Amandine Henry retires from international football
- Centre-left set to win pro-Ukraine Lithuania's vote
- India's World Cup hopes in Pakistan hands after Australia defeat
- Zelensky says NKorea sending troops to Russian army
- England beat Finland to get back on track
- King and Lewis propel West Indies to T20 triumph over Sri Lanka
- Pre-Halloween 'Terrifier' lands atop North America box office
- 'I still plan to compete and play next season,' says Djokovic
- Harris, Trump seek advantage in knife-edge election battle
- Chepngetich shatters women's marathon world record in Chicago
- Kamindu and Asalanka power Sri Lanka to 179 against West Indies
- Chepngetich shatters women's marathon world record as Korir wins in Chicago
- Spain send injured Yamal home 'to prioritise player's health'
- In milestone, SpaceX 'catches' megarocket booster after test flight
- Iraq walks fine line with pro-Iran factions to avoid war
- Race four abandoned after New Zealand breeze into 3-0 lead in America's Cup
- West Indies win toss, put Sri Lanka in to bat in first T20
- Sudan rescuers say air strike killed 23 in Khartoum market
- Netanyahu tells UN to move Lebanon peacekeepers out of 'harm's way'
- Bangladeshi Hindus defy attack worries to celebrate festival
- Kiwis three up in America's Cup as Ineos pay for time penalty
- In a first, SpaceX 'catches' megarocket booster after test flight
- Dominant England crush Scotland at Women's T20 World Cup
- Dropped: The rise and fall of Pakistan batting maestro Babar Azam
- Israel fights Hezbollah on the ground, pounds Lebanon from the air
- Sabalenka outlasts local hero Zheng to win third Wuhan Open title
- Bangladeshi Hindus shrug off attack worries to celebrate festival
- Former Pakistan captain Azam dropped for second England Test
- 'Opportunist' Dupont dazzles on Toulouse return
- Australia replace injured Vlaeminck with Graham at Women's T20 World Cup
- Sinner wins Shanghai Masters to deny Djokovic 100th career title
- Ubisoft fears assassin's hit over falling sales
- Israel hits Lebanon from the air and fights Hezbollah on the ground
- China's Yin has 'goosebumps' as she romps to LPGA win in Shanghai
- Pakistan to re-use Multan pitch for second England Test
- Blair and King Charles hail Salmond's 'devotion' to Scotland
- Vietnam, China hold talks on calming South China Sea tensions
- SpaceX will try to 'catch' giant Starship rocket shortly before landing
- England captain Stokes in line for second Pakistan Test return
- Japan's former empress Michiko discharged after surgery: reports
- Japan's former empress Michiko discharged after surgey: reports
- Israel widens Lebanon strikes as troops fight Hezbollah along border
Asian markets track Wall St rally, boosted by China hopes
Asian markets rallied Wednesday, building on a hearty performance on Wall Street and helped by the reopening in China, though analysts continue to warn of near-term volatility caused by surging inflation, rising interest rates and the Ukraine war.
Equities have enjoyed some respite in recent weeks from a painful sell-off caused by central bank monetary tightening -- particularly by the Federal Reserve -- and a spike in prices that is beginning to hit consumers, raising concerns of an economic slowdown or recession.
A retreat in US Treasury yields provided a lift to New York traders, as did a jump in Chinese firms listed there fuelled by growing optimism that Beijing is to ease back on its long-running crackdown against the tech sector.
The improved mood around tech has come after a report this week said China was close to ending a probe into ride-hailing app Didi Global and restoring its main apps this week.
The Wall Street Journal also said investigations into two other firms -- Full Truck Alliance and recruitment platform Kanzhun -- were coming to a conclusion.
And on Tuesday authorities approved a second batch of 60 games in a further step to lightening their approach in the world's largest mobile entertainment market.
Citi analysts said the "announcement will also send a positive signal of policy support to the overall China internet sector".
Market heavyweights rallied in Hong Kong with Alibaba up more than six percent, Netease four percent higher and Tencent up more than three percent, helping the Hang Seng Index climb more than one percent.
Shanghai, Tokyo, Sydney, Seoul, Wellington, Taipei and Manila were also well in positive territory.
The moves come as Beijing relaxes its strict Covid lockdown measures, allowing the world's number two economy to edge back into life after months.
"The bounce in risk sentiment is due to a more positive China tilt where the outlook is set to brighten up as Covid restrictions ease, and state-owned banks are obliged to increase lending again," said SPI Asset Management's Stephen Innes.
"It certainly feels like the tide is turning on the Mainland, though the overall tone still leans more cautiously optimistic, with key emphasis on 'cautiously'."
All eyes are on the release Friday of US inflation data for a better idea about the Fed's plans as it hikes borrowing costs.
Officials are expected to lift rates half a point each in June and July with some commentators warning a strong report on Friday could allow them to unveil a three-quarter-point move in September.
Such a move would push the dollar up even further against its peers, with the unit at a 20-year high against the yen.
And observers said that the uncertainty would continue to cause volatility on markets.
"The reality for the economy and probably the stock markets is that aggressive central bank rate hikes are likely to take a sharp bite out of household consumption as costs of living pressures come from goods and services, depressed real wage gains and markedly higher mortgage servicing," Innes added.
"Hence, the central bank's endgame is to cool inflation by slowing the economy and tightening financial conditions at stock market investors' expense until price pressures abate."
And Kate Moore at BlackRock explained to Bloomberg Television that "figuring out the direction over the next couple of months becomes increasingly difficult".
"There seems to be across all of the investing segments a lack of strong conviction in the direction of the market. We are going to see a lot more investors remain on the sidelines, remain cautiously positioned."
- Key figures at around 0230 GMT -
Tokyo - Nikkei 225: UP 1.0 percent at 28,208.92 (break)
Hong Kong - Hang Seng Index: UP 2.0 percent at 21,696.89
Shanghai - Composite: UP 0.7 percent at 3,264.90
Dollar/yen: UP at 133.00 yen from 132.62 yen late Tuesday
Euro/dollar: DOWN at $1.0693 from $1.0715
Pound/dollar: DOWN at $1.2580 from $1.2592
Euro/pound: DOWN at 85.00 pence from 85.02 pence
Brent North Sea crude: UP 0.1 percent at $120.71 per barrel
West Texas Intermediate: UP 0.2 percent at $119.65 per barrel
New York - Dow: UP 0.8 percent to 33,180.14 (close)
London - FTSE 100: DOWN 0.1 percent at 7,598.93 (close)
P.Mathewson--AMWN