{"id":7320,"date":"2026-10-29T07:00:00","date_gmt":"2026-10-29T07:00:00","guid":{"rendered":"https:\/\/lqhmarkets.com\/news-and-trade-ideas\/asian-markets-mixed-tech-fed-rates-29-oct-26\/"},"modified":"2026-10-29T07:00:00","modified_gmt":"2026-10-29T07:00:00","slug":"asian-markets-mixed-tech-fed-rates-29-oct-26","status":"publish","type":"post","link":"https:\/\/lqhmarkets.com\/news-and-trade-ideas\/asian-markets-mixed-tech-fed-rates-29-oct-26\/","title":{"rendered":"Asian Markets Mixed Amid US Tech Divergence, Fed Holds Rates Steady"},"content":{"rendered":"<h2>Market Overview<\/h2>\n<p>Asian markets presented a mixed picture on Thursday, grappling with divergent performances from major US technology companies. Microsoft&#8217;s strong earnings provided an offset, but Alphabet&#8217;s disappointing results weighed on sentiment, particularly impacting South Korean tech stocks like Samsung. The US Federal Reserve&#8217;s decision to hold interest rates steady, while maintaining a tightening bias, continued to be a key macroeconomic factor, leading investors to look ahead to crucial US inflation data and the Bank of Japan&#8217;s upcoming policy meeting. Australian equities concluded their session higher, buoyed by a rally in banks and real estate, though the consumer discretionary sector faced headwinds from signs of tightening household budgets.<\/p>\n<h2>Markets<\/h2>\n<p>Japanese and Australian equities closed higher on Thursday, while South Korean and Chinese markets ended lower. Hong Kong was trading in negative territory, and Singapore edged higher as European markets entered their pre-market phase. US equity futures indicated a mixed opening for the upcoming US session.<\/p>\n<p>Japan&#8217;s <strong>Nikkei 225 (^N225)<\/strong> closed up 1.10% at 64,659.47, though it erased most of its intraday gains. South Korea&#8217;s <strong>KOSPI (^KS11)<\/strong> declined by 1.24% to 5,937.66, and mainland China&#8217;s <strong>Shanghai Composite (000001.SS)<\/strong> fell 0.98% to 3,645.26. Australian equities concluded their session higher, with the S&amp;P\/ASX 200 gaining between 0.4% and 0.46% according to sources.<\/p>\n<p>In intraday trading, Hong Kong&#8217;s <strong>Hang Seng Index (^HSI)<\/strong> was down 0.26% at 23,035.73 as of approximately 3:00 pm Hong Kong time. Singapore&#8217;s <strong>Straits Times Index (^STI)<\/strong> was up 0.27% at 5,412.27 as of approximately 3:00 pm Singapore time.<\/p>\n<p>Ahead of the US market open, <strong>Nasdaq-100 futures<\/strong> slid 1.4% to 1.5%, <strong>S&amp;P 500 futures<\/strong> declined 0.5%, while <strong>Dow Futures<\/strong> rose 0.3%.<\/p>\n<p>In commodity markets, gold edged lower, with <strong>Gold (GC=F)<\/strong> closing down 0.08% at $4,048.30. Oil prices eased, as <strong>Brent Crude (BZ=F)<\/strong> settled 4.36% lower at $110.29 per barrel and <strong>WTI Crude (CL=F)<\/strong> fell 1.32% to $101.42 per barrel.<\/p>\n<p>The <strong>AUD\/USD (AUDUSD=X)<\/strong> currency pair rose 0.26% to 0.7049, while <strong>USD\/JPY (JPY=X)<\/strong> edged down 0.08% to 157.8710. The 10-year US Treasury yield (^TNX) rose 5.20 basis points to 5.045%.<\/p>\n<h2>What Drove Markets<\/h2>\n<p><strong>Tech Earnings Deliver Mixed Signals<\/strong><br \/>\nThe latest round of US hyperscaler earnings sent mixed signals across global markets. While Microsoft reported robust results, including 48% growth in its cloud business, Alphabet&#8217;s performance disappointed investors. Google parent <strong>Alphabet (GOOGL)<\/strong> saw its shares slump approximately 9-10% in after-hours trading, with its third-quarter sales of $US111.2 billion falling short of expectations and the company posting negative free cash flow of $9.07 billion. This divergence influenced US equity futures and sent ripples through Asian tech, notably causing <strong>Samsung Electronics (005930.KS)<\/strong> shares to drop 4.13% on Thursday, as the company missed semiconductor profit expectations despite record third-quarter earnings. In contrast, <strong>SK Hynix (000660.KS)<\/strong> shares rose 2.62% after reporting stronger-than-expected profit and announcing a 100 trillion won ($75 billion) shareholder-return plan.<\/p>\n<p><strong>Central Bank Patience Amidst Tightening Bias<\/strong><br \/>\nThe US Federal Reserve voted 10-2 to hold its benchmark federal funds rate in a range of 3.75 per cent to 4 per cent, a decision widely anticipated by markets. However, the Federal Open Market Committee (FOMC) explicitly noted that inflation &#8220;remains elevated,&#8221; stating it was awaiting the &#8220;accumulation of more information&#8221; before taking further steps. Daniel Siluk, head of global short duration and liquidity at Janus Henderson Investors, interpreted the Fed&#8217;s decision as &#8220;mildly dovish at the margin&#8221; and &#8220;an expression of patience rather than a shift away from a tightening bias,&#8221; while also noting that &#8220;the door remains open to further tightening.&#8221; This stance has kept traders pricing in a roughly 78% chance of a US rate increase in December, according to CME FedWatch, making upcoming US inflation data highly influential.<\/p>\n<p><strong>Australian Consumers Tighten Belts<\/strong><br \/>\nDespite overall gains in the Australian market, a notable sell-off in consumer discretionary and consumer staples stocks signaled increasing caution among Australian consumers. Major retailers <strong>Wesfarmers (WES.AX)<\/strong> and <strong>Woolworths (WOW.AX)<\/strong> saw their shares decline by 4.04% and 3.28% respectively, following reports of slowing sales. Datt Capital chief investment officer, Emanuel Datt, stated that Australian consumers are &#8220;clearly tightening their belts&#8221; amidst rising costs of living, higher interest rates, and unemployment.<\/p>\n<h2>Stocks to Watch<\/h2>\n<ul>\n<li><strong>Alphabet (GOOGL)<\/strong>: Shares slumped in after-hours trading after the Google parent company reported third-quarter sales that fell short of expectations and posted negative free cash flow. Alphabet kept its full-year capital expenditures forecast at $195 billion to $205 billion.<\/li>\n<li><strong>Microsoft (MSFT)<\/strong>: Shares climbed in after-hours trading following robust results, including 48% growth in its cloud business, providing a positive counterpoint to Alphabet&#8217;s performance.<\/li>\n<li><strong>Samsung Electronics (005930.KS)<\/strong>: The South Korean tech giant&#8217;s shares dropped on Thursday as investors focused on a miss in semiconductor profit expectations, despite record third-quarter earnings. The company warned that AI-driven memory demand would outstrip industry supply in 2027.<\/li>\n<li><strong>SK Hynix (000660.KS)<\/strong>: Shares rose after reporting stronger-than-expected profit and announcing a significant 100 trillion won shareholder-return plan.<\/li>\n<li><strong>National Australia Bank (NAB.AX)<\/strong>: The Australian banking stock rose 2.33% to 41.36, leading a rally in banks that contributed to the S&amp;P\/ASX 200&#8217;s overall gains.<\/li>\n<li><strong>Wesfarmers (WES.AX)<\/strong>: Shares were down 4.04% to 74.02, impacted by declining Bunnings sales and broader signs of consumer belt-tightening in Australia.<\/li>\n<li><strong>Woolworths (WOW.AX)<\/strong>: The supermarket giant shed 3.28% to 39.48, reflecting slowing sales in the consumer staples sector.<\/li>\n<li><strong>Woodside (WDS.AX)<\/strong>: The energy stock rose 1.90% to 32.74, despite an easing oil price environment.<\/li>\n<\/ul>\n<table>\n<thead>\n<tr>\n<th>Instrument<\/th>\n<th>Code<\/th>\n<th>Close<\/th>\n<th>Move<\/th>\n<th>WoW<\/th>\n<th>YTD<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Microsoft<\/td>\n<td>MSFT<\/td>\n<td>531.01<\/td>\n<td>-0.06%<\/td>\n<td>-0.47%<\/td>\n<td>12.28%<\/td>\n<\/tr>\n<tr>\n<td>Alphabet<\/td>\n<td>GOOGL<\/td>\n<td>324.89<\/td>\n<td>1.34%<\/td>\n<td>-5.60%<\/td>\n<td>3.09%<\/td>\n<\/tr>\n<tr>\n<td>Samsung<\/td>\n<td>005930.KS<\/td>\n<td>232,000.00<\/td>\n<td>-4.13%<\/td>\n<td>9.69%<\/td>\n<td>80.54%<\/td>\n<\/tr>\n<tr>\n<td>Nikkei<\/td>\n<td>^N225<\/td>\n<td>64,659.47<\/td>\n<td>1.10%<\/td>\n<td>2.78%<\/td>\n<td>24.75%<\/td>\n<\/tr>\n<tr>\n<td>KOSPI<\/td>\n<td>^KS11<\/td>\n<td>5,937.66<\/td>\n<td>-1.24%<\/td>\n<td>7.30%<\/td>\n<td>37.78%<\/td>\n<\/tr>\n<tr>\n<td>Shanghai Composite<\/td>\n<td>000001.SS<\/td>\n<td>3,645.26<\/td>\n<td>-0.98%<\/td>\n<td>-0.35%<\/td>\n<td>-9.40%<\/td>\n<\/tr>\n<tr>\n<td>Gold<\/td>\n<td>GC=F<\/td>\n<td>4,048.30<\/td>\n<td>-0.08%<\/td>\n<td>-0.30%<\/td>\n<td>-6.50%<\/td>\n<\/tr>\n<tr>\n<td>Brent Crude<\/td>\n<td>BZ=F<\/td>\n<td>110.29<\/td>\n<td>-4.36%<\/td>\n<td>-2.54%<\/td>\n<td>81.55%<\/td>\n<\/tr>\n<tr>\n<td>WTI Crude<\/td>\n<td>CL=F<\/td>\n<td>101.42<\/td>\n<td>-1.32%<\/td>\n<td>1.96%<\/td>\n<td>76.94%<\/td>\n<\/tr>\n<tr>\n<td>AUD\/USD<\/td>\n<td>AUDUSD=X<\/td>\n<td>0.7049<\/td>\n<td>0.26%<\/td>\n<td>0.94%<\/td>\n<td>5.55%<\/td>\n<\/tr>\n<tr>\n<td>USD\/JPY<\/td>\n<td>JPY=X<\/td>\n<td>157.8710<\/td>\n<td>-0.08%<\/td>\n<td>-0.41%<\/td>\n<td>0.73%<\/td>\n<\/tr>\n<tr>\n<td>10-Year Treasury<\/td>\n<td>^TNX<\/td>\n<td>5.045<\/td>\n<td>5.20 bp<\/td>\n<td>-10.10 bp<\/td>\n<td>85.80 bp<\/td>\n<\/tr>\n<tr>\n<td>SK Hynix<\/td>\n<td>000660.KS<\/td>\n<td>1,526,000.00<\/td>\n<td>2.62%<\/td>\n<td>24.78%<\/td>\n<td>125.41%<\/td>\n<\/tr>\n<tr>\n<td>Wesfarmers<\/td>\n<td>WES.AX<\/td>\n<td>74.02<\/td>\n<td>-4.04%<\/td>\n<td>-6.99%<\/td>\n<td>-9.42%<\/td>\n<\/tr>\n<tr>\n<td>Woolworths<\/td>\n<td>WOW.AX<\/td>\n<td>39.48<\/td>\n<td>-3.28%<\/td>\n<td>-5.12%<\/td>\n<td>34.15%<\/td>\n<\/tr>\n<tr>\n<td>NAB<\/td>\n<td>NAB.AX<\/td>\n<td>41.36<\/td>\n<td>2.33%<\/td>\n<td>5.51%<\/td>\n<td>-2.45%<\/td>\n<\/tr>\n<tr>\n<td>Woodside<\/td>\n<td>WDS.AX<\/td>\n<td>32.74<\/td>\n<td>1.90%<\/td>\n<td>-3.19%<\/td>\n<td>38.38%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>What to Watch Next<\/h2>\n<h3>Economic Releases<\/h3>\n<ul>\n<li>2026-10-29 07:00 ET GB \u2014 BoE Interest Rate Decision<\/li>\n<li>2026-10-29 08:30 ET US \u2014 Core PCE Price Index MoM (Sep)<\/li>\n<li>2026-10-29 19:30 ET JP \u2014 Tokyo Core CPI YoY (Oct)<\/li>\n<li>2026-10-29 19:50 ET JP \u2014 Industrial Production (Sep)<\/li>\n<li>2026-10-29 19:50 ET JP \u2014 Industrial Production MoM (Nov)<\/li>\n<li>2026-10-29 23:00 ET JP \u2014 BoJ Interest Rate Decision<\/li>\n<li>2026-10-30 01:00 ET JP \u2014 Housing Starts YoY (Sep)<\/li>\n<li>2026-11-01 19:30 ET AU \u2014 Building Permits (Sep)<\/li>\n<li>2026-11-02 16:45 ET NZ \u2014 Building Permits MoM (Sep)<\/li>\n<li>2026-11-03 10:00 ET US \u2014 JOLTs Job Openings (Sep)<\/li>\n<li>2026-11-03 15:30 ET US \u2014 API Crude Oil Stock Change (Oct\/30)<\/li>\n<li>2026-11-04 05:00 ET EU \u2014 Core Inflation Rate (Oct)<\/li>\n<li>2026-11-04 07:00 ET US \u2014 MBA Mortgage Applications (Oct\/30)<\/li>\n<li>2026-11-04 09:30 ET US \u2014 EIA Crude Oil Stocks Change (Oct\/30)<\/li>\n<li>2026-11-05 07:00 ET GB \u2014 BoE Interest Rate Decision<\/li>\n<li>2026-11-06 02:00 ET GB \u2014 House Price Index (Oct)<\/li>\n<li>2026-11-06 02:00 ET DE \u2014 Industrial Production (Sep)<\/li>\n<li>2026-11-06 08:30 ET US \u2014 Non Farm Payrolls (Oct)<\/li>\n<li>2026-11-06 08:30 ET US \u2014 Nonfarm Payrolls Private (Oct)<\/li>\n<\/ul>\n<h3>Corporate Earnings<\/h3>\n<ul>\n<li>2026-10-29 US \u2014 Alnylam Pharmaceuticals, Inc. (ALNY) (Before market open)<\/li>\n<li>2026-10-29 US \u2014 Amazon.com Inc (AMZN) (After market close)<\/li>\n<li>2026-10-29 US \u2014 Caterpillar Inc (CAT) (Before market open)<\/li>\n<li>2026-10-29 US \u2014 Dexcom Inc (DXCM) (After market close)<\/li>\n<li>2026-10-29 US \u2014 Gilead Sciences, Inc. (GILD) (After market close)<\/li>\n<li>2026-10-29 US \u2014 Intel Corp (INTC) (After market close)<\/li>\n<li>2026-10-29 US \u2014 Linde PLC (LIN) (Before market open)<\/li>\n<li>2026-10-29 US \u2014 Merck &amp; Co Inc (MRK) (Before market open)<\/li>\n<li>2026-10-29 US \u2014 Mondelez International Inc (MDLZ) (After market close)<\/li>\n<li>2026-10-29 US \u2014 Monolithic Power Systems Inc (MPWR) (After market close)<\/li>\n<li>2026-10-29 US \u2014 SanDisk Corporation (SNDK) (After market close)<\/li>\n<li>2026-10-29 US \u2014 Starbucks Corp (SBUX) (After market close)<\/li>\n<li>2026-10-29 US \u2014 Strategy (MSTR) (After market close)<\/li>\n<li>2026-10-29 US \u2014 Xcel Energy Inc (XEL) (Before market open)<\/li>\n<li>2026-10-30 US \u2014 Chevron Corporation (CVX) (Before market open)<\/li>\n<li>2026-10-30 US \u2014 Exelon Corp (EXC) (Before market open)<\/li>\n<li>2026-10-30 US \u2014 Regeneron Pharmaceuticals, Inc. (REGN) (Before market open)<\/li>\n<li>2026-11-02 US \u2014 Apple Inc. (AAPL) (After market close)<\/li>\n<li>2026-11-02 US \u2014 Diamondback Energy, Inc. (FANG) (After market close)<\/li>\n<li>2026-11-02 US \u2014 IDEXX Laboratories (IDXX) (Before market open)<\/li>\n<li>2026-11-02 US \u2014 Marriott International, Inc. (MAR) (Before market open)<\/li>\n<li>2026-11-02 US \u2014 Palantir Technologies Inc. (PLTR) (After market close)<\/li>\n<li>2026-11-02 US \u2014 Vertex Pharmaceuticals Incorporated (VRTX) (After market close)<\/li>\n<li>2026-11-03 US \u2014 Advanced Micro Devices, Inc. (AMD) (After market close)<\/li>\n<li>2026-11-03 US \u2014 Amgen Inc (AMGN) (After market close)<\/li>\n<li>2026-11-03 US \u2014 Astera Labs, Inc. (ALAB) (After market close)<\/li>\n<li>2026-11-03 US \u2014 Booking Holdings Inc. (BKNG) (After market close)<\/li>\n<li>2026-11-03 US \u2014 Keurig Dr Pepper Inc (KDP) (Before market open)<\/li>\n<li>2026-11-03 US \u2014 Shopify Inc. (SHOP) (Before market open)<\/li>\n<li>2026-11-03 US \u2014 Thomson Reuters Corp (TRI) (Before market open)<\/li>\n<li>2026-11-04 US \u2014 ARM Holdings PLC (ARM) (After market close)<\/li>\n<li>2026-11-04 US \u2014 AppLovin Corporation (APP) (After market close)<\/li>\n<li>2026-11-04 US \u2014 Datadog Inc (DDOG) (Before market open)<\/li>\n<li>2026-11-04 US \u2014 DoorDash, Inc. (DASH) (After market close)<\/li>\n<li>2026-11-04 US \u2014 McDonald&#8217;s Corp (MCD) (Before market open)<\/li>\n<li>2026-11-04 US \u2014 MercadoLibre, Inc. (MELI) (After market close)<\/li>\n<li>2026-11-04 US \u2014 QUALCOMM Incorporated (QCOM) (After market close)<\/li>\n<li>2026-11-05 US \u2014 Airbnb, Inc. (ABNB) (After market close)<\/li>\n<li>2026-11-05 US \u2014 Axon Enterprise, Inc. (AXON) (After market close)<\/li>\n<li>2026-11-05 US \u2014 Lumentum Holdings Inc. (LITE) (After market close)<\/li>\n<li>2026-11-05 US \u2014 Microchip Technology Inc (MCHP) (After market close)<\/li>\n<li>2026-11-05 US \u2014 Monster Beverage Corporation (MNST) (After market close)<\/li>\n<li>2026-11-05 US \u2014 Warner Bros. Discovery, Inc. (WBD) (Before market open)<\/li>\n<li>2026-11-06 US \u2014 Moderna, Inc. (MRNA) (Before market open)<\/li>\n<\/ul>\n<h3>Market Holidays<\/h3>\n<ul>\n<li>2026-11-03 JP \u2014 TSE (Japan): Closed \u2014 Culture Day<\/li>\n<\/ul>\n<h2>Global Markets Snapshot<\/h2>\n<p><em>Source: Yahoo Finance. Publication-eligible observations; market sessions may differ.<\/em><\/p>\n<table>\n<thead>\n<tr>\n<th>Market<\/th>\n<th>Code<\/th>\n<th>Close<\/th>\n<th>Move<\/th>\n<th>WoW<\/th>\n<th>YTD<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>S&amp;P 500<\/td>\n<td>^GSPC<\/td>\n<td>7,743.98<\/td>\n<td>0.28%<\/td>\n<td>-0.17%<\/td>\n<td>12.91%<\/td>\n<\/tr>\n<tr>\n<td>Nasdaq<\/td>\n<td>^IXIC<\/td>\n<td>26,549.85<\/td>\n<td>0.27%<\/td>\n<td>-0.57%<\/td>\n<td>14.26%<\/td>\n<\/tr>\n<tr>\n<td>Dow Jones<\/td>\n<td>^DJI<\/td>\n<td>52,475.10<\/td>\n<td>0.19%<\/td>\n<td>-0.72%<\/td>\n<td>8.46%<\/td>\n<\/tr>\n<tr>\n<td>FTSE<\/td>\n<td>^FTSE<\/td>\n<td>10,694.50<\/td>\n<td>0.07%<\/td>\n<td>-0.54%<\/td>\n<td>7.47%<\/td>\n<\/tr>\n<tr>\n<td>DAX<\/td>\n<td>^GDAXI<\/td>\n<td>25,704.02<\/td>\n<td>0.44%<\/td>\n<td>0.23%<\/td>\n<td>4.75%<\/td>\n<\/tr>\n<tr>\n<td>Brent Crude<\/td>\n<td>BZ=F<\/td>\n<td>110.29<\/td>\n<td>-4.36%<\/td>\n<td>-2.54%<\/td>\n<td>81.55%<\/td>\n<\/tr>\n<tr>\n<td>Gold<\/td>\n<td>GC=F<\/td>\n<td>4,048.30<\/td>\n<td>-0.08%<\/td>\n<td>-0.30%<\/td>\n<td>-6.50%<\/td>\n<\/tr>\n<tr>\n<td>Bitcoin<\/td>\n<td>BTC-USD<\/td>\n<td>79,813<\/td>\n<td>-1.23%<\/td>\n<td>-5.00%<\/td>\n<td>-10.05%<\/td>\n<\/tr>\n<tr>\n<td>AUD\/USD<\/td>\n<td>AUDUSD=X<\/td>\n<td>0.7049<\/td>\n<td>0.26%<\/td>\n<td>0.94%<\/td>\n<td>5.55%<\/td>\n<\/tr>\n<tr>\n<td>GBP\/USD<\/td>\n<td>GBPUSD=X<\/td>\n<td>1.3315<\/td>\n<td>0.06%<\/td>\n<td>0.05%<\/td>\n<td>-1.18%<\/td>\n<\/tr>\n<tr>\n<td>EUR\/USD<\/td>\n<td>EURUSD=X<\/td>\n<td>1.1141<\/td>\n<td>0.10%<\/td>\n<td>-0.67%<\/td>\n<td>-5.19%<\/td>\n<\/tr>\n<tr>\n<td>USD\/JPY<\/td>\n<td>JPY=X<\/td>\n<td>157.8710<\/td>\n<td>-0.08%<\/td>\n<td>-0.41%<\/td>\n<td>0.73%<\/td>\n<\/tr>\n<tr>\n<td>10-Year Treasury<\/td>\n<td>^TNX<\/td>\n<td>5.045<\/td>\n<td>5.20 bp<\/td>\n<td>-10.10 bp<\/td>\n<td>85.80 bp<\/td>\n<\/tr>\n<tr>\n<td>VIX<\/td>\n<td>^VIX<\/td>\n<td>16.91<\/td>\n<td>-3.48%<\/td>\n<td>1.38%<\/td>\n<td>16.54%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Asian markets saw mixed performance amid divergent US tech earnings. The Fed held rates, maintaining a tightening bias. Australian equities rose, while consumer stocks fell.<\/p>\n","protected":false},"author":3,"featured_media":7319,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wrap_published_at_et":"2026-10-29T03:14:29-04:00","wrap_author_name":"","wrap_author_url":"","wrap_author_linkedin":"","wrap_reviewer_name":"","wrap_reviewer_url":"","footnotes":""},"categories":[38],"tags":[40],"class_list":["post-7320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-wraps","tag-asia-close"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Asian Markets Mixed Amid US Tech Divergence, Fed Holds Rates<\/title>\n<meta name=\"description\" content=\"Asian markets saw mixed performance amid divergent US tech earnings. 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