- 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
- Madrid beat Villarreal to level Liga leaders Barca
Asian markets mixed on inflation worry, oil bounces after drop
Asian markets fluctuated Wednesday following losses on Wall Street and data reminding traders that inflation shows no sign of easing.
Oil rose around one percent after seeing a sharp drop earlier on reports that OPEC was considering suspending Russia from an output deal, which observers said could allow producers to pump more.
Regional equities have enjoyed a largely healthy run of late on hopes that inflation could be nearing a peak and a sell-off across markets may have run its course, while the easing of some lockdown measures in China added to the optimism.
However, investors were brought down to earth with a bump Tuesday with figures showing eurozone inflation hit a record high in May owing to rocketing energy costs.
The news puts extra pressure on the European Central Bank to act quicker to rein in prices by hiking interest rates along with the Federal Reserve.
There is a fear that acting too late could mean policymakers will have to announce harder, more painful increases later on.
"There are heightened concerns around inflation and where central banks are likely to go trying to combat inflation," Kristina Hooper, of Invesco Advisers, told Bloomberg Radio.
"This has gone from just an inflation scare to a growth scare. Uncertainty has grown."
Equity markets were mixed in Asian trade, with traders shrugging off a further easing of lockdown restrictions in China that many hope will give a much-needed boost to the world's number two economy.
Hong Kong and Shanghai slipped along with Taipei, Bangkok and Manila, though Tokyo, Sydney, Mumbai, Singapore and Wellington rose. London, Paris and Frankfurt opened on a positive note.
But ACY Securities chief economies Clifford Bennett remained wary.
"After this brief euphoria stock prices are again vulnerable to a mass 'get-out’ frenzy as the reality of the already in full swing global slow-down accompanied by ever-higher interest rates begin to take their toll," he said in a commentary.
Oil prices struggled to rebound after falling more than four percent late Tuesday in reaction to a Wall Street Journal report that OPEC was considering removing Russia from an agreement that has locked producers into limited output increases.
Moscow's removal would mean an early end to the pact and allow major crude nations such as Saudi Arabia to open the taps, analysts said.
"If there's any confirmation from OPEC+ members that the absence of Russia is being discussed, then prices can drop to as low as $100," said Will Sungchil Yun, at VI Investment Corp.
"There's a need for OPEC+ to come up with a plan, as oil prices are likely to keep surging and boost inflationary pressure."
Matthew Simpson of StoneX Financial said that it was debatable whether such a move would offset a partial European Union embargo on Russia and the expected pick-up in Chinese demand as lockdowns are eased.
But he added that "it can also be argued that much of the drivers behind oil’s recent rally has been priced in. Regardless, we can see that some wind has been taken out of the oil rally sails".
- Key figures at around 0720 GMT -
Tokyo - Nikkei 225: UP 0.7 percent at 27,457.89 (close)
Hong Kong - Hang Seng Index: DOWN 0.5 percent at 21,307.40
Shanghai - Composite: DOWN 0.1 percent at 3,182.16 (close)
London - FTSE 100: UP 0.3 percent at 7,626.80
Euro/dollar: DOWN at $1.0724 from $1.0739 on Tuesday
Pound/dollar: DOWN at $1.2601 from $1.2603
Euro/pound: DOWN at 85.12 pence from 85.18 pence
Dollar/yen: UP at 129.38 yen from 128.72 yen
Brent North Sea crude: UP 1.0 percent at $116.76 per barrel
West Texas Intermediate: UP 1.0 percent at $115.85 per barrel
New York - Dow: DOWN 0.7 percent at 32,990.12 (close)
-- Bloomberg News contributed to this story --
F.Ferraz--PC