Asian shares wobbled while commodity prices fell on Thursday as mounting worries about the risks of a global recession amid aggressive rate hikes by the Federal Reserve kept broad investor sentiment fragile.

Amid rising inflation and global interest rates, the World Bank released a downside growth scenario where Indonesia’s GDP growth would fall short of the government’s target in both 2022 and 2023.

The euro and sterling fell on Wednesday as concerns resurfaced that interest rate hikes from major central banks to contain inflation run the risk of a sharp global growth slowdown or recession. British consumer price inflation hit a new 40-year high at 9.1 percent.

Equities struggled Wednesday after a brief respite from last week's painful rout across world markets, with recession fears continuing to build as central banks hike interest rates to combat decades-high inflation. 

Several countries have asked Indonesia for rice, hoping the world's third-largest producer of the grain can help them overcome shortages at home, but experts and farmers see little chance of Indonesia becoming a major exporter in the foreseeable future.

Equities rose 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 further interest rate hikes to reel in inflation.

Indonesian authorities hope to reach an agreement with Singapore to start exporting chickens within weeks, officials said, as the city-state scrambles to find alternative supply sources after another neighbor Malaysia restricted sales.

Markets widely believe that Chinese policymakers are wary of risks that the yuan will depreciate and capital outflows will be triggered if they embark on further monetary easing to underpin a COVID-19-hit economy at a time when other major economies are tightening their rates policies.

The US Federal Reserve's biggest rate hike since 1994, the first such Swiss move in 15 years, a fifth rise in British rates since December and a move by the European Central Bank to bolster the indebted south all took turns roiling markets.

World stocks on Friday headed for their worst week since markets' pandemic meltdown in March 2020, as investors feared sharp rate hikes tipping economies into recession, while growth fears and a soaring Swiss franc whacked the US dollar.

As foot-and-mouth disease (FMD) continues to spread, the price of sacrificial livestock has witnessed a notable hike amid rising demand and limited supply nearing the celebration of Idul Adha.

Asian stocks rose on Thursday, while longer-dated US government bond yields fell and the dollar was down from two-decade highs after the US Federal Reserve delivered an aggressive rate hike and cut its growth projections.

Asian equities were mixed Wednesday with investors nervously awaiting a Federal Reserve interest rate decision that has taken on greater significance since a forecast-busting inflation report sent shockwaves through world markets.

Expectations for a 75 basis-point increase at the conclusion of a two-day meeting on Wednesday are nearly baked into prices, according to CME's Fedwatch Tool with investment banks like Goldman Sachs expecting a 75 basis-point rate hike in June and July, and a 50 basis-point rise in September.

Panic has swept through trading floors since data on Friday showed US consumer prices rising at their fastest pace in a generation owing to a spike in energy and food costs caused by the Ukraine war, China's lockdowns and supply chain snarls.

Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive US interest rate hikes would push the world's largest economy into recession.

Markets tumbled in Asia on Monday and the dollar rallied as part of a global rout fueled by a forecast-beating US inflation print that ramped up bets on a more aggressive campaign of Federal Reserve interest rate hikes.

The yen fell to a fresh 20-year low against the dollar on Monday, as red-hot US inflation data drove up Treasury yields, diminishing the earlier boost from speculation Japanese authorities could intervene to support the currency.

US inflation surged to a new four-decade high in May, defying hopes price pressures had peaked and deepening President Joe Biden's political troubles as Americans struggle to meet the ever-rising cost of essentials like food and gas.

Japan's government and central bank said on Friday they were concerned by recent sharp falls in the yen in a rare joint statement, the strongest warning to date that Tokyo could intervene to support the currency which has sunk to 20-year lows.

Farm gate prices remain low after the government revoked its palm oil export ban, while surging fertilizer prices have driven up production costs, smallholders say.

Asian stocks fell, US bond yields rose and a soaring dollar pushed to a two-decade high against the yen on Thursday as investors worried about the outlook for more rate rises ahead of a key meeting of the European Central Bank later in the day.

The yen hit a fresh 20-year low versus the dollar on Wednesday and slipped to a seven-year trough against the euro as traders awaited a European Central Bank meeting likely to leave Japan alone among peers in sticking to ultra-easy monetary policy.

Asia's stock markets edged lower on Tuesday, the yen hit a 20-year low and bond markets wavered as investors nervously awaited US inflation figures and central bank meetings in Australia, Europe and, next week, in the United States.

Asian shares steadied on Monday as US stock futures made cautious gains ahead of US inflation data later in the week, while the euro touched a seven-year top on the yen amid wagers of European Central Bank tightening.

The Japanese yen was on the back foot on Monday, ahead of a busy policy-focused week in which inflation will be in the spotlight with a major European Central Bank meeting and US consumer price data scheduled.

Asian share markets fell on Thursday on widespread investor worries over high inflation and the threat of recession, while oil prices slumped following a report of reassurances from Saudi Arabia over production.

Palm oil producers are finding sufficient buyers in Indonesia and abroad for whom sustainability is a minor consideration, which is limiting pressure on the sector to adopt environmental practices.

Improved insurance literacy among consumers is one way to capitalize on potential growth in Indonesia's insurance industry, which still lags behind its Southeast Asian peers.

Stocks wobbled and bonds fell in Asia, while the dollar rose on Tuesday after a hot inflation reading in Germany heightened nerves about the pace and scale of looming interest rate hikes.