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Stock markets diverged on Thursday as investors digested US inflation data that supported the case for another interest rate cut next month, while worries over Donald Trump’s presidency clouded optimism.Bitcoin was trading above the $90,000 level but below Wednesday’s record of $93,462. Observers are expecting it to soon top $100,000 following pro-crypto pledges from the US president-elect.US inflation data showed that consumer prices rose in line with forecasts, cementing expectations that the Federal Reserve will cut interest rates again next month. “Inflation is moving sideways on a year-on-year basis, but there is nothing in (the) report that would alarm the Fed,” said Bank of America Global Research in a report.”A 25-basis-point cut in December firmly remains our base case.”Still, there are worries about the impact of Trump’s plans to slash taxes, ease regulations and impose huge tariffs on imports — particularly from China — which observers say could reignite inflation.Some players are now scaling back their bets on how many cuts the Fed will make in 2025 in response to that.Tokyo, Hong Kong and Shanghai all fell on Thursday as concerns over another possible China-US trade war, and Beijing’s economic woes, weighed on Asian markets.European markets fared better, ahead of data on the health of the Eurozone’s economy due later in the day and data on the UK economy due on Friday.Shares in struggling British fashion house Burberry rose around 15 percent on London’s FTSE 250 as the group announced cost-cutting plans after posting a loss. The dollar built on advances against its peers on the prospect that Trump’s policies will keep the Fed from cutting interest rates as much as initially expected.The greenback topped 155 yen for the first time since July, putting focus on Japanese authorities who have said they are prepared to support their unit if they considered moves to be one-sided or speculative.The dollar was also at a more than one-year high against the euro.In company news, Chinese tech giant Tencent rose more than one percent after an upbeat earnings announcement in which it saw forecast-beating profits in the third quarter.It also said it saw signs of a recovery in the world’s number two economy.Chinese e-commerce giant JD.com also announced a pickup in third-quarter revenue, in a positive sign for the firm as it grapples with lacklustre consumer spending. The firm’s latest results — as well as rival Alibaba’s expected third-quarter filing on Friday — are being closely scrutinised by analysts and investors for signs that recent measures taken by the Chinese government to boost activity are having an impact.- Key figures around 1100 GMT -London – FTSE 100: UP 0.3 percent at 8,052.13Paris – CAC 40: UP 0.9 percent at 7,284.77Frankfurt – DAX: UP 1.2 percent at 19,220.72Tokyo – Nikkei 225: DOWN 0.5 percent at 38,535.70 (close)Hong Kong – Hang Seng Index: DOWN 2.0 percent at 19,435.81 (close)Shanghai – Composite: DOWN 1.7 percent at 3,379.84 (close)New York – Dow: UP 0.1 percent at 43,958.19 (close) Dollar/yen: UP at 155.71 yen from 155.51 yen on WednesdayEuro/dollar: DOWN at $1.0508 from $1.0564Pound/dollar: DOWN at $1.2636 from $1.2710Euro/pound: UP at 83.19 pence from 83.11 penceWest Texas Intermediate: UP 0.4 percent at $68.70 per barrelBrent North Sea Crude: DOWN 0.4 percent at $72.55 per barrel

Markets mostly fell Thursday as investors digested US inflation data that supported the case for another interest rate cut next month, while worries over Donald Trump’s next administration continued to cloud optimism.Bitcoin eased just below the $90,000 level it broke for the first time Wednesday when it hit a record $93,462, with observers expecting it to soon top $100,000 following pro-crypto pledges from the US president-elect.After a tough first half of the week for Asian investors, many are trying to get back into the game via bargain-buying, but concerns over another possible China-US trade war, and Beijing’s economic woes, are weighing on confidence.Wall Street provided a tepid lead after news that US consumer prices had picked up pace last month from September, which was in line with forecasts but highlighted the slow progress in bringing inflation under control.The figure lifted hopes that the Federal Reserve will cut rates again next month.”This is a business-as-usual print for the Fed. Inflation is moving sideways on a year-on-year basis, but there is nothing in (the) report that would alarm the Fed,” said Bank of America Global Research in a report.”A 25-basis-point cut in December firmly remains our base case.”Still, officials at the US central bank trod a careful road.Minneapolis Fed boss Neel Kashkari said: “Right now, I think that inflation is headed in the right direction. I’ve got confidence about that, but we need to wait.””We’ve got another month or six weeks of data to analyse before we make any decisions,” he said in an interview with Bloomberg Television.His Dallas counterpart Lorie Logan added that she saw more reductions to borrowing costs but that the neutral level — one which supports growth but keeps inflation in check — was uncertain.”I think it behooves us to proceed cautiously at this point,” she said.Still, there are worries about the impact of Trump’s plans to slash taxes, ease regulations and impose huge tariffs on imports — particularly from China — which observers say could reignite inflation.Some players are now scaling back their bets on how many cuts the Fed will make in 2025 in response to that.After Wall Street’s flat day, Asia struggled.Tokyo, Hong Kong, Shanghai, Mumbai, Taipei, Manila, Bangkok and Jakarta all fell, though Sydney, Seoul, Singapore and Wellington eked out gains.London opened lower, though Paris and Frankfurt edged up.The dollar built on advances against its peers on the prospect that Trump’s policies will keep the Fed from cutting as much as initially expected.The greenback topped 155 yen for the first time since July, putting focus on Japanese authorities who have said they are prepared to support their unit if they considered moves to be one-sided or speculative.The dollar was also at a more than one-year high against the euro.In company news, Chinese tech giant Tencent rose more than one percent after an upbeat earnings announcement in which it saw forecast-beating profits in the third quarter.It also said it saw signs of a recovery in the world’s number two economy.The results are expected to be followed this week by fellow tech titans JD.com and Alibaba, which will be pored over for signs of an improvement in Chinese domestic consumption.- Key figures around 0810 GMT -Tokyo – Nikkei 225: DOWN 0.5 percent at 38,535.70 (close)Hong Kong – Hang Seng Index: DOWN 2.0 percent at 19,435.81 (close)Shanghai – Composite: DOWN 1.7 percent at 3,379.84 (close)London – FTSE 100: DOWN 0.1 percent at 8,024.02Dollar/yen: UP at 155.71 yen from 155.51 yen on WednesdayEuro/dollar: DOWN at $1.0555 from $1.0564Pound/dollar: DOWN at $1.2694 from $1.2710Euro/pound: UP at 83.15 pence from 83.11 penceWest Texas Intermediate: DOWN 0.5 percent at $68.06 per barrelBrent North Sea Crude: DOWN 0.5 percent at $71.92 per barrelNew York – Dow: UP 0.1 percent at 43,958.19 (close) 

Asian markets diverged Thursday as investors digested US inflation data that supported the case for another interest rate cut next month but worries over the next Trump administration continued to cloud optimism.Bitcoin sat just above the $90,000 level it broke for the first time Wednesday when it hit a record $93,462, with observers expecting it to soon top $100,000 following pro-crypto pledges from the president-elect.After a tough first half of the week for Asian investors, many are trying to get back into the game via bargain-buying, but concerns over another possible China-US trade war, and Beijing’s economic woes are weighing on confidence.Wall Street provided a tepid lead after news that US consumer prices had picked up pace last month from September, which was in line with forecasts but highlighted the slow progress in bringing inflation under control.The figure lifted hopes that the Federal Reserve will cut rates again next month, though officials at the bank trod a careful road.Minneapolis Fed boss Neel Kashkari said: “Right now, I think that inflation is headed in the right direction. I’ve got confidence about that, but we need to wait.””We’ve got another month or six weeks of data to analyse before we make any decisions,” he said in an interview with Bloomberg Television.His Dallas counterpart Lorie Logan added that she saw more reductions to borrowing costs but that the neutral level — one which supports growth but keeps inflation in check — was uncertain.”I think it behooves us to proceed cautiously at this point,” she said.Still, there are worries about the impact of Donald Trump’s plans to slash taxes, ease regulations and impose huge tariffs on imports — particularly from China — which observers say could reignite inflation.Some players are now scaling back their bets on how many cuts the Fed will make in 2025 in response to that.After Wall Street’s flat day, Asia fluctuated.Hong Kong, Shanghai, Singapore, Taipei, Manila and Jakarta all fell in the morning, though Tokyo, Sydney, Seoul and Wellington eked out gains.The dollar extended gains against its peers on the prospect that Trump’s policies will keep the Fed from cutting as much as initially expected.The greenback topped 155 yen for the first time since July, putting focus on Japanese authorities, who have said they are prepared to support their unit if they considered moves to be one-sided or speculative.The greenback was also at a more than one-year high against the euro.In company news, Chinese tech giant Tencent rose more than one percent after an upbeat earnings announcement in which it saw forecast-beating profits in the third quarter.It also said it saw signs of a recovery in the world’s number two economy.The results are expected to be followed this week by fellow tech titans JD.com and Alibaba, which will be pored over for signs of an improvement in Chinese domestic consumption.- Key figures around 0230 GMT -Tokyo – Nikkei 225: UP 0.1 percent at 38,761.02 (break)Hong Kong – Hang Seng Index: DOWN 0.7 percent at 19,689.46Shanghai – Composite: DOWN 0.2 percent at 3,432.82Dollar/yen: UP at 155.88 yen from 155.51 yen on WednesdayEuro/dollar: DOWN at $1.0555 from $1.0564Pound/dollar: DOWN at $1.2693 from $1.2710Euro/pound: UP at 83.16 pence from 83.11 penceWest Texas Intermediate: DOWN 0.3 percent at $68.23 per barrelBrent North Sea Crude: DOWN 0.2 percent at $72.15 per barrelNew York – Dow: UP 0.1 percent at 43,958.19 points (close) London – FTSE 100: UP 0.1 percent at 8,030.33 (close)

Global equities stalled Wednesday while bitcoin hit a fresh high as traders digested a small rise in inflation and mulled what Donald Trump’s presidency might mean for global trade and the adoption of cryptocurrency.US stocks were little changed on Wednesday, as traders digested data pointing to a small increase in the Consumer Price Index (CPI) measure of inflation last month.”The drivers in large part are the fact that the CPI came in very much in line with expectations, and some buzz in the markets yesterday,” B. Riley Wealth Management chief market strategist Art Hogan told AFP. “So that coming in line was very much a positive,” he added.Despite inflation matching expectations, there are lingering concerns that Trump’s stated plans for sweeping tariffs could prove to be inflationary, forcing the US Federal Reserve to cut interest rates by less than they otherwise would. “If prices are already looking unruly, expectations will rise for Trump’s threats to be watered down,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown. For Srijan Katyal, global head of strategy and trading services at ADSS brokerage, “this (inflation data) reading has slightly disrupted the disinflationary pattern we have seen in the last few months but continues to remain stable around the targeted level.”Yet, given Trump’s election victory, “inflation worries could return to markets,” he said.- Bitcoin hits fresh record -As inflation edged up, bitcoin, the world’s best-known cryptocurrency, soared to an all-time peak above $93,400 before easing back slightly.Trump has notably pledged to ease regulation around digital tokens.With main European indices hardly budging — Frankfurt and Paris lost a bit of ground and London closed barely ahead — FOREX.com analyst Fawad Razaqzada suggested that “this week’s US inflation data may impact Wall Street but will likely have limited implications for European indices.”But, he added, “one factor that is certainly weighing on sentiment on this side of the pond is political uncertainty in Germany,” which faces elections in February.Asian markets had mostly ended lower as Trump named known China hawks to key cabinet positions, fuelling concerns about another debilitating trade war between the economic superpowers.- Key figures around 2130 GMT -New York – Dow: UP 0.1 percent at 43,958.19 points (close) New York – S&P 500: UP less than 0.1 percent at 5,985.38 (close)New York – Nasdaq Composite: DOWN 0.3 percent at 19,230.74 (close)London – FTSE 100: UP 0.1 percent at 8,030.33 (close)Paris – CAC 40: DOWN 0.1 percent at 7,216.83 (close)Frankfurt – DAX: DOWN 0.2 percent at 19,003.11 (close)Tokyo – Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)Shanghai – Composite: UP 0.5 percent at 3,439.28 (close)Dollar/yen: UP at 155.51 yen from 154.59 yen on TuesdayEuro/dollar: DOWN at $1.0564 from $1.0625Pound/dollar: DOWN at $1.2710 from $1.2748Euro/pound: DOWN at 83.11 pence from 83.34 penceBrent North Sea Crude: UP 0.5 percent at $72.28 per barrelWest Texas Intermediate: UP 0.5 percent at $68.43 per barrel

Global equities stalled Wednesday while bitcoin hit a fresh high as traders fret over the impact of Donald Trump’s presidency on the Chinese and global economies amid fears his policies may reignite US inflation, which rose on latest data.The prospect of higher prices on the back of Trump’s planned tax cuts, import tariffs and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican’s election win last week.Adding to concerns on the impending transfer of White House power, key US October consumer price data saw a 2.6-percent rise, up from 2.4 percent in September, the Labor Department said.Although the figure was in line with the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal, the data complicates the US Federal Reserve’s plans to cut interest rates, even if it remains broadly on track to slow the rate of price increases, EY chief economist Gregory Daco told AFP. “It’s particularly pertinent given concerns that Trump’s tariff policies will be inflationary,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.”If prices are already looking unruly, expectations will rise for Trump’s threats to be watered down.”For Srijan Katyal, global head of strategy and trading services at ADSS brokerage, “this (inflation data) reading has slightly disrupted the disinflationary pattern we have seen in the last few months but continues to remain stable around the targeted level”.Yet, given Trump’s election victory, “inflation worries could return to markets,” Katyal said.As inflation edged up, bitcoin, the world’s premier cryptocurrency, soared to fresh heights in topping $90,000, hitting an all-time peak above $93,400 before easing back slightly.Trump has notably pledged to ease regulation around digital tokens.With main European indices hardly budging — Frankfurt and Paris lost minor ground and London closed barely ahead — FOREX.com analyst Fawad Razaqzada suggested that “this week’s US inflation data may impact Wall Street but will likely have limited implications for European indices.”But one factor that is certainly weighing on sentiment on this side of the pond is political uncertainty in Germany,” which faces elections in February.On Wall Street, the Dow stood 0.4 percent in the green two hours into the session as traders digested the inflation data but the tech heavy Nasdaq was flat.Asian markets had mostly ended lower as Trump named known China hawks to key cabinet positions, fuelling concerns about another debilitating trade war between the economic superpowers.- Key figures around 1645 GMT -New York – Dow: UP 0.4 percent at 44,101.90 points New York – S&P 500: UP 0.2 percent at 5,997.42 New York – Nasdaq Composite: FLAT at 19,286.38 London – FTSE 100: UP 0.1 percent at 8,030.33 (close)Paris – CAC 40: DOWN 0.1 percent at 7,216.83 (close)Frankfurt – DAX: DOWN 0.2 percent at 19,003.11 (close)Tokyo – Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)Shanghai – Composite: UP 0.5 percent at 3,439.28 (close)Dollar/yen: UP at 155.19 yen from 154.59 yen on TuesdayEuro/dollar: DOWN at $1.0570 from $1.0625Pound/dollar: DOWN at $1.2714 from $1.2748Euro/pound: DOWN at 83.13 pence from 83.34 penceBrent North Sea Crude: UP 0.1 percent at $71.99 per barrelWest Texas Intermediate: UP 0.1 percent at $68.20 per barrel

Global equities stalled Wednesday as traders fret over the impact of Donald Trump’s presidency on the Chinese and global economies amid fears his policies could also reignite US inflation, which rose on latest data.The prospect of higher prices on the back of Trump’s planned tax cuts, import tariffs and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican’s election win last week.Adding to concerns on the impending transfer of White House power, key US October consumer price data saw a 2.6-percent rise, up from 2.4 percent in September, the Labor Department said.Although the figure was in line with the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal, the data complicates the US Federal Reserve’s plans to cut interest rates, even if it remains broadly on track to slow the rate of price increases, EY chief economist Gregory Daco told AFP. “It’s particularly pertinent given concerns that Trump’s tariff policies will be inflationary,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.”If prices are already looking unruly, expectations will rise for Trump’s threats to be watered down.”For Srijan Katyal, global head of strategy and trading services at ADSS brokerage, “this (inflation data) reading has slightly disrupted the disinflationary pattern we have seen in the last few months but continues to remain stable around the targeted level”.Yet, given Trump’s election victory, “inflation worries could return to markets,” Katyal said.As inflation edged up, bitcoin, the world’s premier cryptocurrency, soared to fresh heights in topping $90,000, hitting an all-time peak above $91,000 before easing to $90,670.Trump has notably pledged to ease regulation around digital tokens.Wall Street lacked direction in early trading as traders digested the inflation data. Its three main indices had finished in the red Tuesday as investors took a breather from a week-long rally to more record highs, with the Dow barely in the green and the tech heavy Nasdaq off 0.2 percent.Major European indices all were trading down some two hours out from the close, although Siemens Energy shares surged more than 15 percent after the German company posted positive annual results and upgraded its outlook.Asian markets mostly ended lower as Trump named known China hawks to key cabinet positions, fuelling concerns about another debilitating trade war between the economic superpowers.”We expect the effective tariff rate on US imports from China to rise to around 40 percent,” said Harry Murphy Cruise at Moody’s Analytics.”That would effectively double the rate today,” he told AFP.Cruise said, “China would almost certainly follow suit.”The threat of another standoff comes as Beijing struggles to kickstart growth at home, unveiling a raft of measures at the end of September but leaving traders disappointed.China’s state media on Wednesday reported that Beijing had announced a raft of tax policies aimed at boosting the country’s ailing property market.- Key figures around 1445 GMT -New York – Dow: UP 0.1 percent at 43,948.32 points New York – S&P 500: FLAT 0.2 percent at 5,982.53 New York – Nasdaq Composite: DOWN 0.2 percent at 19,243.48 London – FTSE 100: DOWN 0.2 percent at 8,008.47Paris – CAC 40: DOWN 0.7 percent at 7,179.08Frankfurt – DAX: DOWN 0.8 percent at 18,890.76Tokyo – Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)Shanghai – Composite: UP 0.5 percent at 3,439.28 (close)Dollar/yen: UP at 154.98 yen from 154.59 yen on TuesdayEuro/dollar: DOWN at $1.0617 from $1.0625Pound/dollar: DOWN at $1.2741 from $1.2748Euro/pound: DOWN at 83.31 pence from 83.34 penceBrent North Sea Crude: UP 1.0 percent at $71.21 per barrelWest Texas Intermediate: DOWN 1.0 percent at $67.45 per barrel

Indian food delivery firm Swiggy rose nearly 17 percent on its market debut Wednesday after raising $1.34 billion in the country’s second-biggest IPO this year, as investor optimism offset profit concerns.A booming stock market in the world’s fifth-largest economy has stoked an IPO frenzy over the past two years, with start-ups and established companies alike raking in billions of dollars at rich valuations.Swiggy, which is backed by Japan’s SoftBank and investment giant Prosus, has pushed the limits of rapid commerce in India, with the help of a network of local warehouses and tens of thousands of delivery riders.The tech firm, like many of its rivals, has expanded beyond traditional food delivery business into having everything from groceries to electronics dropped off at doorsteps in under 20 minutes.Group chief executive Sriharsha Majety, speaking at the listing ceremony in the financial capital Mumbai, said India had “so much economic growth” ahead, and that “growth is obviously going to show up in the cities” — a boost for firms like Swiggy.The company’s shares defied an overall weak market and closed at 456 rupees($5.4), 16.9 percent higher than the issue price, on their first day of trade.In the run-up to the listing, analysts had raised concerns over stiff competition from industry leader Zomato and unlisted rival Zepto.”Swiggy’s initial focus on in-house innovation gave it an edge, but competitors like Zomato and Zepto have since overtaken it in food delivery and quick commerce,” Ninad Sarpotdar, an analyst at Aditya Birla Capital, wrote in a pre-listing note.Sarpotdar said that ongoing losses and a “slightly high valuation” were also negative factors.Swiggy’s financial filings show its losses increased to 6.1 billion rupees ($72.3 million) in the June quarter.The delivery app plans to use $66 million from its IPO proceeds to expand its warehouse network as it looks to boost revenue and cut losses. 

Global stock markets diverged Wednesday as traders fret over the impact of Donald Trump’s presidency on the Chinese and global economies, with fears that his policies could also reignite US inflation.The prospect of higher prices on the back of Trump’s planned tax cuts, import tariffs and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican’s election win last week.Focus is now on the release of key US October consumer price data due later in the day, with expectations for a slight uptick from the previous month.”It’s particularly pertinent given concerns that Trump’s tariff policies will be inflationary,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.”If prices are already looking unruly, expectations will rise for Trump’s threats to be watered down.”The reading will be pored over for an idea about the Federal Reserve’s plans for borrowing costs when it meets again in December.Major European indices edged higher around midday Wednesday.Shares in Siemens Energy surged more than 15 percent after the German company posted positive annual results and upgraded its outlook.Asian markets mostly ended lower as Trump named known China hawks to key cabinet positions, fuelling concerns about another debilitating trade war between the economic superpowers.”We expect the effective tariff rate on US imports from China to rise to around 40 percent,” said Harry Murphy Cruise at Moody’s Analytics.”That would effectively double the rate today,” he told AFP.”It’s likely the threat of further tariffs up to the touted 60 percent would be used as a negotiating tool.” Cruise said “China would almost certainly follow suit, imposing tariffs of its own of equal magnitude”.The threat of another standoff comes as Beijing struggles to kickstart growth at home, unveiling a raft of measures at the end of September but leaving traders disappointed.China’s state media on Wednesday reported that Beijing had announced a raft of tax policies aimed at boosting the country’s ailing property market.Wall Street provided a negative lead, with its three main indices finishing in the red Tuesday as investors took a breather from a week-long rally to more record highs.Traders are keeping tabs on bitcoin after it came within a whisker of breaking $90,000 for the first time on Tuesday owing to Trump’s pro-crypto campaign pledges.- Key figures around 1100 GMT -London – FTSE 100: UP 0.1 percent at 8,062.73Paris – CAC 40: UP 0.3 percent at 7,248.33Frankfurt – DAX: UP 0.3 percent at 19,096.11Tokyo – Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)Shanghai – Composite: UP 0.5 percent at 3,439.28 (close)New York – Dow: DOWN 0.9 percent at 43,910.98 (close)Dollar/yen: UP at 154.98 yen from 154.59 yen on TuesdayEuro/dollar: DOWN at $1.0617 from $1.0625Pound/dollar: DOWN at $1.2741 from $1.2748Euro/pound: DOWN at 83.31 pence from 83.34 penceBrent North Sea Crude: UP 0.7 percent at $72.38 per barrelWest Texas Intermediate: UP 0.7 percent at $68.61 per barrel

Airlines cancelled flights to and from the Indonesian resort island of Bali on Wednesday, leaving travellers stranded after a nearby volcano catapulted an ash tower miles into the sky.At least 16 international routes were affected after Mount Lewotobi Laki-Laki on Flores island spewed a nine-kilometre (5.6-mile) tower a day earlier, the general manager of Bali’s international airport said in a statement.Flights from Singapore, Hong Kong, Qatar, India, Australia, Malaysia, China’s Pudong and South Korea’s Incheon were all either delayed or grounded, Ahmad Syaugi Shahab said Wednesday.Animal clinic worker Samsudin, 52, from Indonesia’s main island was transiting in Bali to Malaysia and forced to spend the night at the airport.”I’m sleeping here rather than going back to Java. It is far,” he told AFP.”I’m waiting here, until tomorrow,” he added, saying he bought a new flight after his AirAsia ticket was refunded.Australia’s Jetstar, Qantas and Virgin Australia all grounded flights, while Malaysia Airlines, AirAsia, India’s IndiGo and Singapore’s Scoot also listed flights as cancelled on Wednesday, an AFP journalist at Bali’s airport said.”Volcanic ash poses a significant threat to safe operations of the aircraft in the vicinity of volcanic clouds,” said AirAsia as it announced several cancellations.Hong Kong’s Cathay Pacific also listed its flights as cancelled, rescheduling routes to and from Bali until Thursday.Multiple eruptions from the 1,703-metre (5,587-foot) twin-peaked volcano in recent weeks have killed nine people, with 31 injured and more than 11,000 evacuated, Indonesia’s disaster mitigation agency said Tuesday.Eruptions can pose serious risks to flights, disgorging fine ash that can damage jet engines and scour a plane’s windscreen to the point of invisibility.The island’s tourism head called for calm after the cancellations, saying the island was “very safe” because the volcano is far away.”Bali’s tourism activity is still running normally,” Tjok Bagus Pemayun said in a statement Wednesday.But airlines said the situation was too dangerous to keep their planes in the sky.Jetstar said all flights to and from Bali would be halted until noon on Thursday as it was “currently not safe to operate flights”.Malaysia Airlines said it had cancelled six flights Wednesday in a statement on its website, while Scoot said it scrapped two flights and rescheduled four more.The airlines said they would monitor the volcano’s status and provide updates.Singapore Airlines was still listing its flights as running on Wednesday.- ‘Refunds, rescheduling, re-routing’ -Bali airport’s Shahab said 26 domestic and 64 international flights had been affected by recent eruptions as of Wednesday afternoon.”Due to this natural event impacting flight operations, airlines are offering affected passengers the options of refunds, rescheduling, or re-routing,” he added in a statement.But some said they were set to be stranded for days, with little help forthcoming.”There’s nobody helping us, nobody is providing us accommodation or food, we are kind of stranded,” said IT consultant Arsh Khurana, 39, from Delhi whose Air India flight was rescheduled to Saturday.”There is nothing from Air India, there is absolutely no support,” he told AFP, adding that he and his wife were set to lose money as the airline’s travel insurance did not cover disruptions caused by volcanic eruptions.Local media reported thousands of passengers were affected but Balinese officials gave no estimate.Bali’s international airport operator PT Angkasa Pura Indonesia said Wednesday it had conducted tests in its airspace and no volcanic ash was detected, saying the airport was “operating as normal”.But the airport in the tourist hotspot of Labuan Bajo on Flores island was shuttered on Wednesday until 8pm local time (1200 GMT) because of the volcanic ash from Lewotobi, according to the airport’s Instagram.Lewotobi erupted again from midnight Wednesday until early morning, and a large ash column could be seen pouring from its crater, an AFP journalist nearby said.Laki-Laki, which means “man” in Indonesian, is twinned with a calmer volcano named after the Indonesian word for “woman”.The island’s economy is heavily reliant on tourism but Indonesia is one of the most disaster-prone nations on Earth, straddling the Pacific Ring of Fire where tectonic plates collide.

Asian markets fell again Wednesday as traders fret over the impact of Donald Trump’s presidency on the Chinese and global economies, with fears that his policies could also reignite US inflation.The prospect of prices spiking again on the back of tax cuts, import tariffs, and an easing of regulations gave fresh impetus to the dollar, which has rallied since the Republican’s election win last week.Traders are also keeping tabs on bitcoin after it came within a whisker of breaking $90,000 for the first time, though observers are betting on it hitting $100,000 owing to Trump’s pro-crypto campaign pledges.After an initial rally in the wake of the tycoon regaining the White House, Asian markets have pulled back this week as his cabinet begins to emerge.The naming of known China hawks to key positions has fuelled concerns about another debilitating trade war between the economic superpowers.”We expect the effective tariff rate on US imports from China to rise to around 40 percent,” said Harry Murphy Cruise at Moody’s Analytics.”That would effectively double the rate today and be a similar increase to that seen during the first trade war. It’s likely the threat of further tariffs up to the touted 60 percent would be used as a negotiating tool,” he told AFP.”China would almost certainly follow suit, imposing tariffs of its own of equal magnitude.”The threat of another standoff comes as Beijing struggles to kickstart growth at home, unveiling a raft of measures at the end of September but leaving traders disappointed with anything new at a much-anticipated announcement Friday.Uncertainty about the outlook heading into 2025 was weighing on Asian equities, with Hong Kong, Tokyo, Sydney, Seoul, Taipei, Wellington and Mumbai all in the red.Still, Shanghai, Singapore, Manila and Bangkok rose, while London opened higher. Paris and Frankfurt dipped at the open.The selling came after a negative lead from Wall Street, where all three main indexes finished in the red as investors took a breather from a week-long rally to more record highs.Bitcoin was sitting at 87,654.The dollar extended gains against its peers, having tapped a one-year high versus the euro, while it pushed back above 155 yen.The greenback has risen as dealers pare bets on Federal Reserve interest rate cuts after Trump’s win, with two seen through to June, compared with four forecast before the election, according to Bloomberg.Focus is now on the release of key US October consumer price data due later in the day, with expectations for a slight uptick from the previous month.The reading will be pored over for an idea about the central bank’s plans for borrowing costs when it meets again in December.It cut rates 25 basis points last week, having slashed them by 50 points in September, the first since the start of the pandemic.- Key figures around 0810 GMT -Tokyo – Nikkei 225: DOWN 1.7 percent at 38,721.66 (close)Hong Kong – Hang Seng Index: DOWN 0.1 percent at 19,823.45 (close)Shanghai – Composite: UP 0.5 percent at 3,439.28 (close)London – FTSE 100: UP 0.1 percent at 8,034.76Dollar/yen: UP at 155.07 yen from 154.59 yen on TuesdayEuro/dollar: DOWN at $1.0606 from $1.0625Pound/dollar: DOWN at $1.2737 from $1.2748Euro/pound: DOWN at 83.27 pence from 83.34 penceWest Texas Intermediate: UP 0.1 percent at $68.18 per barrelBrent North Sea Crude: UP 0.1 percent at $71.96 per barrelNew York – Dow: DOWN 0.9 percent at 43,910.98 (close)