Cryptocurrency markets nursed heavy losses on Thursday, with bitcoin pinned near a two-year low as investors fretted about the fallout from the implosion of crypto exchange FTX.

Asian stocks started down on Thursday after inconclusive US midterm election results and a turbulent cryptocurrency market left Wall Street and European markets in a sea of red.

Asian stocks made a positive start Wednesday following gains on Wall Street but lost momentum as factory gate prices in China fell for the first time in nearly two years.

Stocks in Shanghai was down 0.6 percent, while Jakarta fell 0.3 percent, Bangkok retreated 0.2 percent and Wellington dropped 0.7 percent.

China's super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine war, Beijing's zero-COVID measures and falling mainland and Hong Kong stock markets pummeled fortunes, an annual rich list said on Tuesday.

Asian equities rose on Friday, boosted by Hong Kong and China stocks, while the dollar was set for its best week in more than a month as investors priced in the prospect of the Federal Reserve taking interest rates above 5 percent next year. 

Asian markets sank Thursday after the Federal Reserve hiked interest rates and boss Jerome Powell suggested they would go higher than expected, blowing a hole in hopes for a more dovish pivot in its fight against inflation.

Asian stocks were mixed Wednesday following losses on Wall Street as forecast-beating US data jolted hopes the Federal Reserve could soon tone down its hawkish pace of interest rate hikes.

Chicago wheat futures jumped more than 5 percent on Monday and corn rose over 2 percent as Russia's withdrawal from a Black Sea export agreement raised concerns over global grain supplies. 

The dollar firmed on Monday after strong consumer spending data pointed to persistent underlying inflation pressure, cooling bets that the US Federal Reserve could flag a slowdown in its aggressive interest rate hikes.

Investors are holding back from the government bond market amid rising interest rates to fend off high inflation in many major economies, leaving emerging countries like Indonesia struggling to keep up with investors’ appetite to secure capital at home.

Asian equities edged lower on Friday as investors grappled with mixed earnings reports, while the Japanese yen held firm ahead of the Bank of Japan's policy review.

Indonesia Stock Exchange (IDX) aims for an average daily transaction value (ATV) of Rp 14.75 trillion (US$948 million) in 2023, which would mark a slowdown from the volume achieved so far this year.

Sterling soared to six-week highs on Wednesday, as Britain's new Prime Minister Rishi Sunak holds his first Cabinet meeting amid reports he could delay the announcement of a plan to repair the country's public finances.

Asian shares edged higher on Wednesday as investors clung to hopes that the pace of US and global rate hikes will start to slow, though US futures dropped after disappointing results from tech giants Alphabet and Microsoft. 

After Britain's brief Prime Minister Liz Truss unleashed her mini-budget on Sept. 23, filling financial markets with dread, a section of investors stampeded away from the pound and towards the cryptocurrency.

The safe-haven US dollar eased against peers on Tuesday amid signs Federal Reserve rate hikes are already putting the brakes on the world's biggest economy, while risk sentiment improved with Rishi Sunak about to become Britain's prime minister.

Most Asian markets rose Monday on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood was darkened by worries over the China outlook after President Xi Jinping tightened his grip on power.

The yen's sell-off has fed broader concerns for the world's third-largest economy, as it is driving already surging import bills for everything from fuel to food, and challenges the Bank of Japan's fierce commitment to ultra-low rates in the face of rapid global monetary tightening to combat rampant inflation. 

Russia can access enough tankers to ship most of its oil beyond the reach of a new G7 price cap, industry players and a US official told Reuters, underscoring the limits of the most ambitious plan yet to curb Moscow's wartime revenue.

The pound dipped 0.21 percent to $1.1215 in early Asian trade, after a brief rally to a high of $1.1338 in the previous session after Truss announced her resignation.

Asian equities tumbled Thursday, tracking a sell-off on Wall Street, while the dollar regained its strength as surging inflation, interest rate hikes and recession fears returned to the fore.

“In my personal opinion, Blibli will not be so different from Bukalapak or GoTo. I even think they’re somewhat late,” said Indonesian Digital Empowerment Community (IDIEC) chair Tesar Sandikapura.

In Indonesia, southeast Asian pulp and paper producers are continuing to expand production, putting the country's remaining forests under pressure.

Asian shares were mostly higher on Wednesday, with US corporate earnings aiding sentiment, while traders awaited British inflation readings later in the day for clues on how hawkish central banks need to be to fight inflation. 

European equities rose with sterling Tuesday after the UK government scrapped a controversial debt-funded mini-budget. Most Asian markets gained earlier in the day.

Asia stocks nudged higher on Tuesday as the dramatic U-turn in British fiscal policy brightened investor sentiment, while the US dollar took a breather at its lowest levels in more than a week as a revival in risk-taking lowered its appeal. 

Tokyo stocks ended lower on profit-taking following sharp gains on Friday and lackluster automakers amid fears over a possible US recession resulting from the Federal Reserve's aggressive interest rate hikes.

The long-awaited IPO of e-commerce platform Blibli aims to raise around US$530 million when it lists its shares on the Indonesian bourse next month.

Asian share markets slipped on Monday following another drubbing for Wall Street as investors brace for a further drastic tightening in global financial conditions, with all the risks of recession that brings.