In Asian Equity Markets stocks extended gains on Friday as hopes of more Chinese stimulus and speculation of a British government U-turn on its fiscal plans supported risk sentiment, while the safe-haven dollar eased. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 2.6 percent on Friday. Japan’s Nikkei jumped 3.4 percent. Chinese bluechips also rose 2 percent, marking the biggest gain since August, after the country’s central bank governor promised stronger support to the real economy as COVID lockdowns spread ahead of the all-important Communist Party Congress.

In Currency Markets the dollar fell on Friday as risk appetite returned to global stock markets and investors appeared to shift their focus away from U.S. interest rate considerations, even as red-hot inflation data suggested more policy tightening was likely. Elsewhere, the dollar was trading at 147.33 to the yen, below the 32-year peak of 147.665 it hit in the previous session. The euro nudged up 0.06 percent to $0.9779. The Australian dollar was up 0.56 percent versus the greenback at $0.633, coming off a two and half year low it touched in the previous session. The kiwi was up 0.71 percent at $0.567.

In US Equity Markets stocks rose to close more than 2 percent higher on Thursday, as technical support and investors covering short bets drove a dramatic rebound from a selloff earlier in the day. The Dow rose 2.83 percent, to 30,038.72, the S&P 500 gained 2.60 percent, to 3,669.91 and the Nasdaq Composite added 2.23 percent, to 10,649.15. The market initially fell after data showed the headline consumer price index rose at an annual pace of 8.2 percent in September, compared with an estimated 8.1 percent rise. Financials and energy led gains among S&P 500 sectors.

In Commodities Markets oil prices settled about 2 percent higher on Thursday, as low levels of diesel inventory ahead of winter triggered buying and reversed early losses on surprisingly high stocks of crude and gasoline. Brent crude futures for December delivery rose $2.12 to $94.57 a barrel, a 2.29 percent gain. U.S. crude rose 2.1 percent, to $89.11 per barrel. Spot gold fell 0.3 percent to $1,666.77 per ounce. Spot silver lost 0.9 percent to $18.87 per ounce, platinum firmed 1.9 percent to $897.00, and palladium fell 1.3 percent to $2,107.78.

In European Equity Markets stocks climbed on Thursday, rebounding from a near two-year low touched earlier in the session after hot U.S. inflation data spurred bets of aggressive interest rate hikes from the Fed. The region-wide STOXX 600 index shuttled between positive and negative territory throughout the session before closing up 0.9 percent. Chipmakers including Infineon and ASML also reversed session losses to gain between 0.9 percent and 3 percent. Norwegian aluminium producer Norsk Hydro jumped 6.7 percent after reports that the United States was weighing restricting imports of Russian aluminium.

In Bond Markets benchmark Treasury yields jumped to 14-year highs on Thursday after data showing larger than expected gains in U.S. consumer prices last month raised fears the Federal Reserve’s ongoing efforts to tame inflation will spark a recession. Ten-year Treasury yields were last up 3.7 basis points to 3.939 percent, while two-year notes rose 14.3 basis points to a 15-year high of 4.430 percent. The 30-year’s yield was later up 3.3 basis points on the day at3.920 percent. The breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) was last at 2.431 percent.