Asian stocks stagger as traders prepare for expected US rate cut
Asian equities drifted Monday as investors gear up for an expected US interest rate cut this week, with debate centring on the likelihood the Federal Reserve will continue easing monetary policy further into the new year.The reduction has been well baked into traders’ plans following a string of comments from key decision-makers since last month and data indicating the labour market continues to deteriorate.However, with the latest round of inflation figures suggesting there is plenty of work to do to get prices under control, and confidence among consumers softening, there are worries the central bank might not have room to keep cutting.The latest, and delayed, reading on September personal consumption expenditure (PCE) — the Fed’s preferred gauge of inflation — came in slightly above August, though the core reading was unchanged.The data did little to move the needle on rate expectations but showed that it remains stubbornly above officials’ target.Economists at Bank of America said that a blackout period for Fed members commenting on policy would end on Thursday and “we’ll be on the lookout for what potential dissenters have to say”.With the backlog from the government shutdown being cleared, the BoA team pointed out that there were several key releases between Wednesday’s decision and the next meeting in January.That includes three non-farm payrolls prints, two unemployment reports, two inflation releases and retail sales for October, November and maybe December. “We look for two or three substantive changes in the (policy board) statement. The description of labour market conditions is likely to omit the language that the unemployment rate ‘remained low’, to reflect the 32-basis-point uptick over the last three months,” they wrote. “The forward guidance language might also be tweaked to indicate that the bar for additional cuts has risen. This would be a nod to the hawks.”Markets are looking for a hawkish cut, in the sense that they’re pricing under eight basis points of cuts in January and less than a full 25 points in the first three meetings of 2026 (after which Jerome Powell’s term as Chair ends).”All three main indexes on Wall Street ended last week on a positive note, but Asia struggled to match.Tokyo was marginally lower while Hong Kong, Sydney and Singapore were in the red. Shanghai, Seoul, Wellington and Taipei rose.Traders are also keeping a wary eye on China-Japan tensions following news that Tokyo summoned Beijing’s ambassador after Chinese military aircraft locked radar onto Japanese jets.Relations have chilled since Japan’s Prime Minister Sanae Takaichi suggested last month that Japan would intervene militarily in any Chinese attack on Taiwan.Tokyo said J-15 jets from China’s Liaoning aircraft carrier on Saturday twice locked radar on Japanese aircraft in international waters near Okinawa.China’s navy said Tokyo’s claim was “completely inconsistent with the facts” and told Japan to “immediately stop slandering and smearing”.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: FLAT at 50,473.84 (break) Hong Kong – Hang Seng Index: DOWN 0.6 percent at 25,919.77Shanghai – Composite: UP 0.6 percent at 3,925.12Dollar/yen: DOWN at 154.96 yen from 155.32 yen on FridayEuro/dollar: UP at $1.1653 from $1.1642Pound/dollar: UP at $1.3333 from $1.3329Euro/pound: UP at 87.38 pence from 87.35 penceWest Texas Intermediate: FLAT at $60.07 per barrelBrent North Sea Crude: FLAT at $63.74 per barrelNew York – Dow: UP 0.2 percent at 47,954.99 (close)London – FTSE 100: DOWN 0.5 percent at 9,667.01 (close)
Trump airs doubt about Netflix acquisition of Warner Bros.
US President Donald Trump commented Sunday on Netflix’s effort to acquire storied Hollywood studio Warner Bros., saying the streaming giant already has “a very large market share” and “it could be a problem.” “I’ll be involved in that decision,” Trump said upon arriving at the Kennedy Center Honors awards ceremony, referring to the decision facing federal regulators weighing the nearly $83 billion deal that has raised antitrust concerns and ire among Hollywood’s elite.Trump also lavished praise on Netflix co-CEO Ted Sarandos, who recently visited the White House, saying “he’s done one of the greatest jobs in the history of movies.”If completed in its currrent form, Netflix would absorb competing streaming platform HBO Max and Warner Bros. studios, which has produced film classics including “Casablanca” and “Citizen Kane,” over the decades, as well as more recent blockbusters like “Barbie.”The acquisition would give Netflix a massive catalog, with a vast array of content, including the Harry Potter films, the Lord of the Rings saga, and the superheroes of DC Studios — Batman, Superman and Wonder Woman, for starters.But Netflix won’t be getting television channels if the deal goes through, like Discovery and CNN, which would be spun off from Warner Bros. prior to the sale.Parent company Warner Bros. Discovery officially put itself up for sale in October after receiving multiple unsolicited offers, beating out cable operator Comcast and media group Paramount Skydance.Paramount’s chief David Ellison is a major backer of Trump.
Hollywood awards race heats up with Golden Globes noms
Hollywood’s awards season shifts into high gear Monday when nominations for the Golden Globes are unveiled, with hit musical “Wicked: For Good,” Shakespeare family tragedy “Hamnet” and period horror movie “Sinners” leading the charge.Paul Thomas Anderson’s politically charged “One Battle After Another,” starring Leonardo DiCaprio, and mid-century sports dramedy “Marty Supreme,” starring Timothee Chalamet and Gwyneth Paltrow, are also top contenders.The Globes, set for January 11, are widely seen as a bellwether for the Academy Awards, and the top Globes hopefuls are already on many insider short lists for the Oscars.The Golden Globes offer separate awards for dramas and comedies/musicals — widening the field of stars who could walk the red carpet, and fueling the suspense. “The headline of this year is: Comedy is where the drama is,” Variety senior awards editor Clayton Davis told AFP.”Wicked: For Good” will battle for top comedy-musical honors with “One Battle After Another” and “Marty Supreme.”Also in the comedy mix is apocalyptic satire “Bugonia,” the latest quirky effort from Greek auteur Yorgos Lanthimos, featuring his frequent collaborator Emma Stone, who is tipped for a nomination along with co-star Jesse Plemons. For Davis, “Wicked” — the blockbuster conclusion of the film adaptation of the hit Broadway musical — is “still probably the populist choice” with wide appeal.Ariana Grande, as the bubbly pink-clad Glinda, and Tony winner Cynthia Erivo, as the green-skinned Elphaba, are awards hopefuls again this year, even though Erivo was surprisingly cut from the Critics Choice Awards short list.For Davis, the best actress category for the Globes, and looking ahead to the Oscars, will be a “Murderers’ Row,” with a glut of worthy candidates.Each main category will have six nominees, not five as in past years. – ‘Hamnet’ and ‘Sinners’ lead dramas -On the drama side, the top contenders all delve into the past. “Hamnet,” from Oscar-winning director Chloe Zhao, stars Paul Mescal as William Shakespeare, who tries to forge a career as a playwright while his wife Agnes — played by Jessie Buckley — contends with the perils of plague and childbirth in Elizabethan England.The film, based on the novel by Maggie O’Farrell, draws on evidence that the couple had a son named Hamnet — a name that scholars say would have sounded indistinguishable from “Hamlet” at the time.”Sinners,” from “Black Panther” director Ryan Coogler, stars Michael B. Jordan as twins in the criminal underworld who encounter a sinister force as they return home to racially segregated Mississippi in the 1930s.The film was a runaway box office success, and Jordan seems sure to secure a nomination. It led the nods for the Critics Choice Awards on Friday with 17.”It has so much going for it — it’s a big moneymaker, it was a culturally significant hit,” explained Davis, who added he “will not sleep a wink” until Coogler gets an Oscar nomination for directing.Also in the running is Guillermo Del Toro’s adaptation of “Frankenstein,” starring Oscar Isaac and Jacob Elordi.Oscar nominations are due on January 22, so the picks for the Globes should begin to more clearly sketch out the road to the Academy Awards. The Globes also honor the best in television, with the top Emmy nominees — “Severance” and “The Pitt” for the dramas, “The Studio” and “Hacks” for the comedies, and searing limited series “Adolescence” — expected to dominate the nominations. Actors Marlon Wayans and Skye Marshall will announce the main nominees for the 83rd Golden Globes from 1315 GMT Monday. The Globes are in year three of a revamp, and last year’s gala hosted by comedian Nikki Glaser was a hit with audiences, with more than 10 million tuning in.Glaser will return as host of the January 11 gala in Beverly Hills.



