- 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
- Ancelotti points finger at Madrid's 'lack of intensity'
- Haiti reeling after 70 killed in gang attack
- Five Czech kids in hospital over TikTok 'piercing challenge'
- What happens next in Iran-Israel conflict?
- Country star Garth Brooks denies rape accusations
- Stubbs hits maiden century as South Africa make 343-4 against Ireland
- DR Congo to begin mpox vaccination campaign Saturday in east
- Odegaard injury has forced Arsenal to be 'different', says Arteta
- Ratcliffe refuses to guarantee Ten Hag's Man Utd future
- Meta must limit data use for targeted ads: EU court
- Mauritius to hold legislative election on November 10
- Britain qualify for America's Cup final after 60-year wait
- IMF asks Sri Lanka to protect hard-won gains
- Morata returns to Spain Nations League squad after injury
- Irish regulator to probe Ryanair use of facial recognition
- Public allowed to see video evidence in France mass rape trial
- US hiring soars past expectations in sign of resilient market
- Under-fire Ten Hag 'together' with Man Utd hierarchy
- Guardiola talks of Man City love affair as financial hearing rumbles on
Most Asian markets rise as traders gear up for Fed rate cut
Asian markets mostly rose Friday and the yen sat around nine-month highs after another healthy day on Wall Street as investors gear up for an expected US interest rate cut next week.
More data suggesting the Federal Reserve was winning the battle against inflation provided an extra kick for equities after another rollercoaster week that started with big losses fuelled by worries the world's top economy could be heading for recession.
While concern after last Friday's big miss on US jobs creation -- which followed another well-below-forecast read a month ago -- continues to linger, traders are now turning their attention to the central bank decision on September 18.
Having slashed rates in the early months of the pandemic, the Fed began hiking in 2022 as inflation started to take hold, and they kept lifting for a year until rates hit a two-decade high.
Now, with disinflation seemingly kicking in and the labour market softening, decision-makers are tipped to start cutting again, but discussion revolves around whether it will go for a 25 or 50 basis point move.
Figures on Thursday showed wholesale prices rose 0.2 percent in August, putting the benchmark on an annual basis at 1.7 percent, down from a revised 2.1 percent the previous month.
However, when volatile food and energy components were stripped out, they were up 0.3 percent, topping forecasts.
The readings came a day after news that the consumer price index had hit its lowest level since February 2021, but the core reading had risen more than expected from the previous month.
Observers said the data did little to alter the view that borrowing costs would come down but made the case for the bigger move harder.
Confidence that the Fed would cut provided support to Wall Street, particularly the key tech sector, with the Nasdaq up one percent.
And Asia mostly followed suit.
Hong Kong gained more than one percent. Ecommerce titan and market heavyweight Alibaba was a key driver of the gains, building on this week's rally as mainland Chinese investors snap it up after it was included Tuesday in a programme that allows them to buy stocks in Hong Kong-listed firms.
Shanghai, Sydney, Seoul, Singapore, Taipei, Manila and Jakarta were also well in the green.
Tokyo was weighed by a stronger yen, which was hovering just above the 141 per dollar mark last touched at the end of December on bets the Fed will ease monetary policy.
The Japanese unit has rallied strongly from the levels close to 162 touched in July, which caused authorities to intervene and spend billions to prop it up.
Expectations that the Bank of Japan will hike rates for a third time this year have also provided a big boost to the currency, while decision-makers have suggested they will keep lifting if the economy and inflation act as forecast.
Daiwa Securities said "staunch speculation over the Bank of Japan's additional rate hikes prompted (the dollar) to fall".
The BoJ is seen standing pat on rates at its meeting next week but investors are keeping a close eye on deliberations after it announced a surprise lift at its last gathering, sparking turmoil on markets.
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: DOWN 0.9 percent at 36,507.10 (break)
Hong Kong - Hang Seng Index: UP 1.7 percent at 17,540.81
Shanghai - Composite: UP 0.4 percent at 2,726.70
Dollar/yen: DOWN at 141.02 yen from 141.78 yen on Thursday
Euro/dollar: UP at $1.1088 from $1.1078
Pound/dollar: UP at $1.3147 from $1.3126
Euro/pound: DOWN at 84.33 pence from 84.36 pence
West Texas Intermediate: UP 0.5 percent at $69.33 per barrel
Brent North Sea Crude: UP 0.5 percent at $72.31 per barrel
New York - Dow: UP 0.6 percent at 41,096.77 (close)
London - FTSE 100: UP 0.6 percent at 8,240.97 (close)
F.Ferraz--PC