HONG KONG: Most Asian markets rose on Thursday on bargain-buying after they were battered the day before, though oil extended losses after Federal Reserve (Fed) Chairman Jerome Powell admitted that the United States economy could tip over into a recession as the central bank hikes interest rates to fight runaway inflation.

Soaring prices and the battle by central banks to rein them in have sent a chill through global trading floors this year, while investors are also having to deal with the uncertainty brought by the war in Ukraine and patchy recovery from the coronavirus pandemic.

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