Asian shares tumbled, the dollar held firm and two-year Treasury yields hit a new 15-year high on Wednesday, as a US inflation report dashed hopes for a peak in inflation, fueling bets rates may have to be raised higher for longer.

Asian stocks rose on Tuesday as traders in Korea returned from holidays in a mood to catch up on a global bounce, while other markets held steady ahead of US inflation data that will offer a crucial guide to the interest rate outlook.

Asian shares crept higher as the dollar eased, with markets turning calmer after a record interest rate hike from the European Central Bank and hawkish comments from the US Federal Reserve Chair reinforced bets of aggressive tightening ahead.

State-owned oil-and-gas company Pertamina is in talks to buy crude oil from Russia while the G7 forum is trying to get other countries to join its push for a price cap on Russian oil.

Most Asian markets enjoyed a rare advance on bargain-buying Thursday, tracking a Wall Street rally after a series of losses, though the dollar resumed its upward march with the Federal Reserve expected to announce another bumper interest rate hike.

Asian shares rose on Tuesday morning after China pledged to make renewed efforts to boost its economy on Monday, while investors pinned hope on more clarity ahead of a number of central bank meetings.

Oil prices jumped along with the whole energy complex as a holiday in US markets made for thin trading conditions. News of more coronavirus lockdowns in China only added to the jittery mood.

Faced with recession fears, the OPEC+ countries are expected to agree a modest increase in oil production at a meeting on Monday, with some experts even forecasting a cut to support prices.

Asian shares were mixed and the dollar stood tall on Friday ahead of a key US jobs report as investors braced for more aggressive rate hikes from the Federal Reserve, while commodities took an overnight dive amid new China lockdowns.

Asian stocks slid and the dollar spiked on Thursday as investors greeted September by selling everything that was not nailed down after a month battered by concerns about aggressive rate hikes from global policymakers.

Asian markets extended the global stocks selloff on Wednesday, as investor worries about aggressive monetary tightening were inflamed further by strong US jobs data.

Some market watchers point to the decision of BlackRock to launch a private bitcoin investment product specifically for institutional investors as a strong sign that demand remains strong and could drag crypto out of the doldrums. 

China stocks dropped on Tuesday, as more cities tightened COVID-19 restrictions in response to rising cases, fuelling fears of a further economic slowdown.

Federal Reserve Chair Jerome Powell's promise of policy "pain" to contain inflation quashed hopes that the central bank would ride to the rescue of markets as so often in the past.

Asian shares rose on Friday, buoyed by news of possible progress for China and the United States to hammer out an audit deal, while traders anxiously awaited a speech from Federal Reserve Chair Jerome Powell on rate-hike path later in the day.

The US dollar edged back from near a two-decade peak against a basket of major currencies on Thursday as investors looked to a speech by Federal Reserve Chair Jerome Powell the following day for fresh clues on the path for monetary policy.

A fleet of 14 trains provided by French industrial giant Alstom to the German state Lower Saxony will replace the diesel locomotives on the 100 kilometers of track connecting the cities of Cuxhaven, Bremerhaven, Bremervoerde and Buxtehude near Hamburg.

China's autumn harvest is under "severe threat" from high temperatures and drought, authorities have warned, urging action to protect crops in the face of the country's hottest summer on record.

Indonesia's central bank could also add to the gloom, if it delivers a surprise interest rate increase at its scheduled policy meeting. Economists polled by Reuters expect it to hold its 7-day reverse repo rate steady at 3.50 percent. 

Asian shares were down for a sixth straight session on Tuesday after a renewed spike in European energy prices stoked fears of recession and pushed the euro to 20-year lows. Analysts warned inflation in Britain could top 18 percent if energy prices were not restrained.

The US dollar hit a fresh five-week high versus major peers on Monday after more Federal Reserve officials flagged the likelihood of continued aggressive monetary tightening.

China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week's easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of COVID cases.

The US dollar climbed to a fresh one-month high against a basket of major peers on Friday as Federal Reserve policymakers continued to talk up the need for further interest rate hikes ahead of their key Jackson Hole symposium next week.

The dollar was on the front foot on Thursday after minutes from the Federal Reserve's July meeting pointed to US interest rates staying higher for longer to bring down inflation.

Markets dropped in Asia on Thursday following a sell-off in New York spurred by minutes from the Federal Reserve indicating officials intended to keep lifting interest rates to tackle decades-high inflation.

Asian markets mostly fell Friday, winding back some of the previous day's rally, as traders come to terms with the likelihood that central banks will continue to raise interest rates to battle runaway inflation.

State-owned electricity monopoly PLN reported a declining inventory in the last three months due to a wide gap between capped domestic prices and the prices paid by offshore buyers.

Asian shares tracked Wall Street higher on Thursday after a softer-than-expected US inflation report encouraged bets of less aggressive rate hikes from the Federal Reserve, while the dollar remained bruised after its biggest plunge in five months.

Asian shares fell and the dollar steadied on Wednesday as investors waited for a key US report on inflation to provide hints to the Federal Reserve's plans for future monetary tightening.

Asian share markets were mostly softer on Monday and the dollar held firm after a stunning US payrolls report pushed back against talk of recession but also bolstered the case for more super-sized rate hikes.