- Pakistan 122-1 at lunch in first England Test
- Kazakhs approve plan for first nuclear power plant
- World marks anniversary of Oct. 7 attack on Israel
- 'Second family': tennis stars hunt winning formula with new coaches
- Philippines, South Korea agree to deepen maritime cooperation
- Mexico mayor murdered days after taking office
- Sardinia's sheep farmers battle bluetongue as climate warms
- Japan govt admits doctoring 'untidy' cabinet photo
- Israel marks first anniversary of Hamas's October 7 attack
- Darvish tames Ohtani as Padres thrash Dodgers
- Asian markets track Wall St rally on jobs data
- Family affair as LeBron, Bronny James make Lakers bow
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- As Great Salt Lake dries, Utah Republicans pardon Trump climate skepticism
- Amazon activist warns of 'critical situation' ahead of UN forum
- Mourners pay tribute to latest victims of deadly Channel crossing
- Phillies win thriller to level Mets series
- Yu bags first PGA Tour win with playoff win
- PSG held by Nice to leave Monaco clear at top of Ligue 1
- Lewandowski treble for leaders Barca as Atletico held
- Fresh Israeli strikes hit south Beirut
- Sucic stunner earns Real Sociedad draw against Atletico
- PSG draw with Nice, fail to reclaim top spot in Ligue 1
- Gudmundsson downs AC Milan after De Gea's penalty heroics for Fiorentina
- 'Yes' vote prevails in Kazakhstan nuclear plant vote: TV
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- 'Nothing gets in way of team,' says Celtics' MVP hopeful Tatum
- '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
Most markets climb as calm returns after sharp sell-off
Equities rose in most cities Tuesday in Asia as some stability returned to markets after last week's upheaval, but analysts warned of further pain for traders after central bank officials hinted at more interest rate hikes to reel in inflation.
While there was no catalyst from Wall Street owing to a public holiday, a healthy performance across Europe provided a little boost and bargain-buying was also lending support.
However, there remains an overarching sense of gloom as traders speculate that the sharp lift in borrowing costs around the world will tip economies into recession.
Focus this week is on Federal Reserve boss Jerome Powell's two days of testimony to lawmakers in Washington, which will be closely watched for insight into the bank's thinking and possible clues about its plans for fighting surging prices.
The Fed announced a three-quarter point lift last week, after inflation data days earlier had smashed forecasts and hit a four-decade high.
"While (investors do) not expect Powell to reinvent the policy wheel, we could expect him to reinforce the idea that the Fed is in data-dependent mode," said Stephen Innes of SPI Asset Management.
"Hence, any shift in Fed rhetoric will be a function of incoming data, virtually all of which now presents event risk. From that perspective, further evidence of persistent inflation will trigger policy panic, while any signs of sluggish growth momentum will confirm the recession narrative.
"Neither suggests that now is the time to board the rally wagon."
Tokyo, Hong Kong, Sydney, Seoul, Singapore, Wellington, Taipei, Mumbai, Bangkok and Jakarta all rose but Shanghai and Manila slipped.
London opened barely moved, while Paris and Frankfurt edged up.
"There might be a narrative that we've hit a bottom, we are oversold, the Fed is taking inflation seriously and that might be slightly bullish in the interim," Frances Stacy, of Optimal Capital, told Bloomberg TV.
However, while the volatility of last week has gone, banks' intention to continue hiking rates could cause fresh ructions.
Several officials -- including at the Fed, Bank of England, Reserve Bank of Australia and European Central Bank -- have come out in recent days to flag a further tightening of borrowing costs.
In commodities markets, oil extended gains as traders moved back in after Friday's plunge fuelled by concerns over a possible recession.
The gains have been helped by optimism for a boost to demand as China gradually eases out of its period of Covid containment, while the US summer driving period picks up.
"The physical market is as tight as ever, and thus, the speculative capitulation in futures markets (on Friday) probably shouldn't be taken as a picture of the reality on the ground in the real world," said OANDA's Jeffrey Halley.
"The bottom line seems to be that until we see physical demand destruction, oil and other energy markets are as tight as ever."
- Key figures at around 0720 GMT -
Tokyo - Nikkei 225: UP 1.8 percent at 26,246.31 (close)
Hong Kong - Hang Seng Index: UP 1.5 percent at 21,478.68
Shanghai - Composite: DOWN 0.3 percent at 3,306.72 (close)
London - FTSE 100: FLAT at 7,121.21
Dollar/yen: UP at 135.21 yen from 135.06 yen
Pound/dollar: UP at $1.2268 from $1.2243
Euro/dollar: DOWN at $1.0526 from $1.0528 Monday
Euro/pound: DOWN at 85.80 pence from 86.02 pence
West Texas Intermediate: UP 1.8 percent at $111.52
Brent North Sea crude: UP 0.5 percent at $114.70 per barrel
New York - Dow: DOWN 0.1 percent at 29,888.78 (close)
X.M.Francisco--PC