- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
- DR Congo launches mpox vaccination drive, hoping to curb outbreak
- Trump returns to site of failed assassination
- Careless Leverkusen held to Bundesliga draw
- O'Brien's 'superstar' Kyprios posts landmark win on Arc weekend
- Liverpool suffer Alisson injury blow
- Habosi helps Racing beat Vannes before Auradou's playing return
- Thousands march in London in support of Palestinians, 1 year after Oct 7
- Israel readying response to Iran missile attack
- Schutt, Mooney help Australia beat Sri Lanka in Women's T20 World Cup
- Liverpool extend Premier League lead with win at Palace
- Djokovic 'shakes rust off' to make third round of Shanghai Masters
- 'Imperfect' PSG fighting on all fronts - Luis Enrique
- Struggling Pakistan look to thwart adaptable England
- Child 'trampled to death' in asylum seekers' Channel crossing: minister
- Gauff fights back to set up Beijing final against Muchova
- Guardiola claims Premier League won't delay season for Man City
- Israel to mark October 7 attack as Gaza war spreads
- Gauff fights back to reach China Open final
- Recovering Stokes ruled out of first Pakistan Test
- Hezbollah battles troops on border as Israel pounds Lebanon
- Alcaraz, Sinner breeze into third round of Shanghai Masters
- Bagnaia wins Japan MotoGP sprint to cut Martin's lead
- Alcaraz breezes into third round of Shanghai Masters
- Gaza cultural heritage brought to light in Geneva
- 'Bullet for democracy': Trump returns to site of rally shooting
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- South Korean cult-horror series 'Hellbound' returns at BIFF
- Nepalis fear more floods as climate change melts glaciers
- Honduras arrests environmentalist's alleged murderer
- Padres pitcher Musgrove needs elbow surgery
- Supreme Court lets stand rules to curb mercury, methane emissions
- Boston beat Denver in NBA exhibition season opener, but Jokic says omens are good
- Chagos diaspora angry at lack of input on islands' fate
- Biden says 'not confident' of peaceful US election
- US trade chief defends tariff hikes when paired with investment
- Lukaku stars as Napoli beat Como to hold Serie A top spot
- Ohtani set for MLB playoff debut as Dodgers face Padres
- Pogba's drug ban cut to 18 months from four years
- Devine leads New Zealand to big win over India in Women's T20 World Cup
- Bosnia floods kill 16 people
- EU court blocks French ban on vegetable 'steak' labelling
- Prosecutors seek dismissal of rape charges against French rugby players
- Meta AI turns pictures into videos with sound
- Bolivia's Morales says claims he raped a minor are a 'lie'
- MLB Reds hire two-time champion Francona as manager
- Daniel Maldini receives first Italy call-up for Nations League
- US dockworkers return to ports after three-day strike
Asian markets drop ahead of key Fed rate decision
Equities fell in Asian trade Wednesday as traders nervously awaited what is expected to be the biggest Federal Reserve interest rate hike in more than two decades.
With inflation showing little sign of easing from its 40-year highs, the US central bank has set itself on a hawkish course of tightening this year, sending shivers through world markets.
The prospect of higher borrowing costs has been compounded by a range of crises including the war in Ukraine, elevated oil prices and China's Covid lockdowns that have strangled crucial global supply chains.
The Fed now has to walk a fine line between getting control of surging prices and making sure it does not knock the recovery in the world's top economy off course.
"The Fed remains very focused on bringing inflation down, however, any further hawkish pivots will likely be tempered to some extent by the desire to achieve a soft landing," said Blerina Uruci at T. Rowe Price.
The Fed is expected to announce a 50 percentage point lift Wednesday -- its biggest since 2000 -- but boss Jerome Powell's post-meeting news conference will be closely watched for an idea about future hikes.
Speculation was swirling that 75 points could be on the table at some point this year.
"Powell will fall back to 'we are not on pre-set rate hikes' or something along those lines -- 'we go in with an open mind each meeting and will talk it over and we'll see where we go from there'," said Tony Farren, managing director at Mischler Financial Group.
"The market would take that as hawkish. For his comments to seem dovish, he'd have to shut down the talk of 75 basis points. And while I don't think he'll endorse it, I don't think he'll shut it down."
- Russian oil ban -
After a broadly positive lead from Wall Street, Asian markets struggled in holiday-thinned trade.
Hong Kong, Sydney, Seoul, Mumbai and Singapore slipped but Taipei and Manila rose while Wellington was flat.
Tokyo, Shanghai, Jakarta, Kuala Lumpur and Bangkok were closed.
London, Paris and Frankfurt rose in the opening minutes.
Oil prices rose after European Commission president Ursula von der Leyen on Wednesday said the European Union would impose a gradual Russian oil ban in retaliation for the war in Ukraine.
The news offset the expected hit to demand from China's coronavirus lockdowns, including in the country's biggest city Shanghai.
A huge release of crude from reserves by dozens of countries including the United States has also helped keep prices tempered.
Investors are waiting for a meeting Thursday of OPEC and other major producers including Russia, where they will discuss whether or not to lift output more than expected.
- Key figures at around 0720 GMT -
Hong Kong - Hang Seng Index: DOWN 1.2 percent at 20,856.96
London - FTSE 100: UP 0.1 percent at 7,565.78
Tokyo - Nikkei 225: Closed for a holiday
Shanghai - Composite: Closed for a holiday
Euro/dollar: DOWN at $1.0512 from $1.0519 on Tuesday
Pound/dollar: DOWN at $1.2486 from $1.2491
Euro/pound: UP at 84.18 pence from 84.17 pence
Dollar/yen: UP at 130.15 yen from 130.14 yen
West Texas Intermediate: UP 1.4 percent at $103.79 per barrel
Brent North Sea crude: UP 1.2 percent at $106.19 per barrel
New York - Dow: UP 0.2 percent at 33,128.79 (close)
O.Salvador--PC