Global markets: stocks rebound\, but sources say Tencent Music to delay IPO

Markets licked their wounds and hauled themselves back up after the bloodletting of recent days ... Asia seeing its first gains in two weeks ... Euro zone stocks jumping one per cent on the open.

Even as some wondered whether Q3 earnings season that's just starting might be the next battleground ... (SOUNDBITE) (English) CHIEF ECONOMIC ADVISER, CEBR, VICKY PRYCE, SAYING: "I think the next few days are going to be pretty important I think.

The view of how the U.S. is moving in the future will matter hugely and will be dependent to a considerable extent what the earnings figures tell you." Ahead too lies more anxiety, investors say - over another factor behind the sell-off.

Just how quickly will the Fed go on hiking rates on booming US growth - potentially dragging Treasury yields and the dollar even higher.

(SOUNDBITE) (English) GLOBAL FINANCIAL ECONOMIST, COMMERZBANK, PETER DIXON, SAYING: "Now we're seeing you know something like eight rate rises over the course of the last couple of years .... The U.S. needs higher rates whether it needs much higher rates from here is another matter.

But certainly I think more monetary tightening is to come." And it's a sign of nervous times when a high-profile IPO is postponed .... As, sources tell Reuters, Tencent Music Entertainment might do for its 2 billion dollar US listing in November.

The firm itself - the owner of China's biggest music apps - didn't confirm the story.

Nor did it deny it.

(SOUNDBITE) (English) CHIEF ECONOMIC ADVISER, CEBR, VICKY PRYCE, SAYING: "People are reevaluating the attractiveness of stocks vs.

Bonds more generally and I think that requires quite a rethink.

Do you in fact have an IPO right now when the markets are so unsettled?

I would be astonished if anyone tried to do anything right now." Crude jumped too by around one per cent after two heavy days of declines.

But the lure of the safe haven still appeared strong ... Gold holding steady after its two and half per cent surge on Thursday - on the fear of more market pain ahead.