- 'We will win!': Mozambique's ruling party confident at final vote rally
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Florida braces for Milton, FEMA head slams 'dangerous' Helene misinformation
- Postecoglou slams 'unacceptable' Spurs after 'terrible' loss at Brighton
- Marmoush double denies Bayern outright Bundesliga top spot
- Rallies worldwide call for Gaza, Lebanon ceasefire
- New 'Joker' film, a dark musical, tops N.America box office
- Man Utd stalemate keeps Ten Hag in danger, Spurs rocked by Brighton
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Vikings hold off Jets in London to stay unbeaten
- Ahead of attack anniversary, Netanyahu says: 'We will win'
- West Indies cruise to T20 World Cup win over Scotland
- Man Utd fire another blank in Aston Villa stalemate
- Lewandowski treble powers Liga leaders Barca to Alaves victory
- Russian activist killed on front line in Ukraine
- Openda strike briefly sends Leipzig top of Bundesliga
- Goal-shy Man Utd have to 'step up', says Ten Hag
- India bowl out Bangladesh for 127 in T20 opener
- Madueke rescues Chelsea in draw with 10-man Forest
- Beckett's belief rewarded as Bluestocking storms to Arc glory
- Trump on the stump, Harris hits airwaves in razor-edge US election
- Flash flooding kills three in northern Thailand
- Kaur leads India to victory over Pakistan in Women's T20 World Cup
- Juventus held by Cagliari after late penalty drama
- In France's Marseille, teen 'stabbed 50 times' then burned alive
- Ruthless Gauff beats Muchova in straight sets to win China Open
- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
- Penrith Panthers win fourth straight NRL title after downing Storm
- Weary Sinner happy for day off after battling into Shanghai last 16
- Pakistan's Masood warns England still a force without Stokes
- Madrid's Carvajal to miss several months after serious knee injury
- Two elephants die in flash flooding in northern Thailand
- Sabalenka targets world number one and Wuhan hat-trick
- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
- Mozambique vote: no suspense but some disillusion
- Austrian rapper channels anti-racist rage in Romani hip-hop songs
- Ohtani magic powers Dodgers over Padres in MLB playoff thriller
- Five of the best: Pakistan-England Test thrillers
- Man sets arm on fire as marches across US mark Gaza war anniversary
- Vietnam's young coffee entrepreneurs brew up a revolution
- Trump rallies at site of failed assassination: 'Never quit'
- Too hot by day, Dubai's floodlit beaches are packed at night
- Is music finally reckoning with #MeToo?
- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Monaco take top spot in Ligue 1 with win at Rennes
Asian markets swing on new inflation, rates concerns
Asian markets fluctuated Tuesday as investors struggled to maintain a global rally, with inflation continuing to niggle owing to a pick-up in oil prices while a top Federal Reserve official pressed for a series of sharp interest rate hikes.
With Wall Street closed for a holiday there were few catalysts to help extend the gains enjoyed in recent days, allowing inflation and borrowing costs to take centre stage.
Crude prices built on Monday's advance after the European Union reached a deal on a partial embargo of Russian imports as part of a punishment for its invasion of Ukraine.
Brent broke above $122 for the first time in two months and WTI was sitting around $117 as European chiefs said the latest sanction would ban purchases of Russian oil delivered by sea, though there would be a temporary exemption for pipelines.
While widely expected, the agreement adds further upside to crude just as China begins to ease Covid restrictions in Shanghai and Beijing, raising the likelihood of a jump in demand from the world's number two economy.
The lift in oil prices will help fan already elevated inflation and pile further pressure on central banks to tighten monetary policy to prevent it running out of control.
In a sign of the struggle policymakers face, German prices are rising at their fastest pace ever while Spain's topped forecasts.
In the United States, the chances of an extended period of rate hikes were increased after Federal Reserve Governor Christopher Waller said he favoured half-point hikes "for several meetings" until inflation slows towards the bank's two percent target.
He added that his goal was in line with market expectations, which is about 2.75 percent in December.
Joe Biden is due to hold talks with Fed boss Jerome Powell on Tuesday to discuss the inflation situation. US jobs data Friday will provide an update on the state of the US economy in light of soaring prices and rising rates.
The prospect of a period of rates rising higher for longer lifted the dollar against the euro, pound and yen as well as other currencies.
Asian equity markets swung through the morning, though there was some cheer from data showing China's manufacturing shrunk in May at a slower rate than expected.
Hong Kong edged slightly lower after two days of gains that saw it put on around five percent, while Shanghai was also marginally off.
Sydney, Taipei and Manila were also in the red, though Tokyo, Seoul, Singapore, Jakarta and Wellington rose.
But AXA Investment Managers' Chris Iggo warned that another 10-15 percent retreat for stocks could still be a possibility.
"The mood is temporarily better in markets," he said, adding that "I think the worst is over for bond markets but picking the bottom in equities is trickier."
- Key figures at around 0230 GMT -
Tokyo - Nikkei 225: UP 0.1 percent at 27,404.14 (break)
Hong Kong - Hang Seng Index: DOWN 0.2 percent at 21,092.51
Shanghai - Composite: DOWN 0.1 percent at 3,147.12
Euro/dollar: DOWN at $1.0754 from $1.0779 on Monday
Pound/dollar: DOWN at $1.2621 from $1.2650
Euro/pound: DOWN at 85.20 pence from 85.21 pence
Dollar/yen: UP at 128.10 yen from 127.59 yen
Brent North Sea crude: UP 0.4 percent at $122.20 per barrel
West Texas Intermediate: UP 2.2 percent at $117.54
New York - Dow: Closed for a holiday
London - FTSE 100: UP 0.2 percent at 7,600.06 points (close)
J.V.Jacinto--PC