The owners of the Chicago Cubs and Ken Griffin, the billionaire hedge fund tycoon, have joined forces to table a blockbuster bid for Chelsea Football Club.
Hong Kong's Hang Seng index closed 9.08% higher on Wednesday but remains down more than 2% so far this week after seeing heavy losses on Monday and Tuesday.
China signaled support for Chinese stocks on Wednesday, after days of worries about U.S. delisting risks had sent the stocks plunging in New York and Hong Kong.
A renewed Covid wave which has caused widespread lockdowns in China is a key development causing oil prices to plummet from record highs, according to analysts.
The Fed is expected to raise interest rates by a quarter point, a major step in reversing the easing it put in place to help the economy through the pandemic.
Oil prices came under pressure as a number of factors weighed on the market, including the Russia-Ukraine war and a potential slowdown in demand from China.