Entertainment
Asian stocks higher after Fed accelerates stimulus pullback
Stocks climbed in Asia on Thursday, tracking Wall Street’s gains, after the Federal Reserve said it would accelerate its pullback of economic stimulus.
The Fed said it would likely raise interest rates three times next year to tackle rising inflation and will shrink its monthly bond purchases at twice the pace it previously announced, in line with ending them altogether in March.
Tokyo’s Nikkei 225 index rose 1.8% to 28,979.60 and the Kospi in South Korea picked up 0.2% to 2,996.04. The Shanghai Composite index added 0.3% to 3,657.85. India and Taiwan rose, while Sydney’s S&P/ASX 200 lost 0.4% to 7,296.10.
In Hong Kong, the Hang Seng dropped 0.8% to 23,235.98.
Simmering tensions between Beijing and Washington are casting a shadow, analysts say, after the U.S. House of Representatives passed a resolution to ban imports from China’s Xinjiang region due to concerns about forced labor and other abuses.
Apart from that, the U.S. reportedly is considering sanctions that would prevent companies providing equipment to China’s biggest computer chips maker, SMIC.
The company’s Hong Kong traded shares dropped 3.4% on Thursday. They have declined nearly 22% in the past six months.
“Some concerns on potentially tougher sanctions from the U.S. have kept investors shunning, with China’s SMIC recently under U.S. scrutiny once again, and that may seem to cap gains for China tech sector today,” Yeap Jun Rong of IG said in a commentary.
While the U.S. is hastening its efforts to counter inflation, central banks in Europe are not expected to follow suit, analysts said.
“ECB doves are not set to budge,” Mizuho Bank said in a market report. “For one, while economic recovery endures, it remains fragile, threatened by the ‘omicron’ variant,” it said.
Germany is in the midst of its worst wave of infections so far. In Asia, South Korea has been struggling to beat back rising caseloads.
Major U.S. stock indexes rose after declining before the release of the Fed’s statement at 2 p.m. Eastern time. They gained momentum toward the end of the day. The S&P 500 rose 1.6% to 4,709.85, nearly recouping all of its losses for the week and ending just below the record high it set last Friday.
The Dow Jones Industrial Average rose 1.1% to 35,927.43 and the tech-heavy Nasdaq composite gained 2.2% to 15,565.58. The Russell 2000 index of smaller-company stocks rose 1.6%. Bond yields edged higher.
The U.S. central bank said its monthly bond purchases are no longer needed with unemployment falling and inflation at a near-40-year high. The accelerated timetable puts the Fed on a path to start raising rates as soon as the first half of next year.
The central bank’s policymakers had been expected to announce a faster pullback in their last meeting of the year.
Businesses have been dealing with supply chain problems and higher costs for months. It has been a key concern for investors as big companies pass those costs off to consumers, who have so far been absorbing higher prices on everything from groceries to clothing and other consumer products.
Bond investors had a more measured reaction to the Fed announcement. Bond yields edged higher, with the yield on the 10-year Treasury rising to 1.46% from 1.44% late Tuesday.
Retailers and other companies that rely on consumer spending recovered from an early slide. The sector sank after the Commerce Department said s ales rose a modest 0.3% in November, but fell short of economists’ forecasts amid concerns that rising costs could crimp consumer spending.
In other trading Thursday, U.S. crude oil climbed 72 cents to $71.59 per barrel in electronic trading on the New York Mercantile Exchange. It gained 14 cents to $70.87 per barrel on Wednesday.
Discover “ṢÓ O GBỌ́LÙ”, an interactive program by Prince Adewale Laoye that showcases the cultural ties between Yoruba drums and language
Prince Adewale Laoye has unveiled an innovative online programme, **“ṢÓ O GBỌ́LÙ”**, aimed at preserving Yoruba cultural heritage by spotlighting the unique connection between the Yoruba language and traditional drums, particularly the Dundun, or talking drum.
This initiative highlights how Yoruba drums replicate speech through tonal patterns, a feature intrinsic to the Yoruba language. “Our drums, especially the Dundun, perfectly imitate Yoruba tones.
They are not just instruments but vital communication tools,” explained Prince Laoye, a respected cultural advocate.
The Dundun drum, central to the programme, is celebrated for its ability to convey messages woven into Yoruba proverbs and idioms.
The programme’s goal is to inspire renewed interest in Yoruba heritage by blending music, language, and education.
**Interactive Features of “ṢÓ O GBỌ́LÙ”**
Participants can access episodes on Aafin Ilu’s social media pages and YouTube channel, engaging with content that challenges them to interpret the drum’s tonal messages. Special prizes await those who decode the speech patterns correctly.
Typical questions posed include:
– “Can you hear the speech of Ayan (the drummer)?”
– “Do you understand the drum’s language?”
– “Can you interpret Yoruba proverbs conveyed through drum tones?”
Prince Laoye views this programme as a cultural revival movement. “So o gbo’lu is more than a programme; it’s a call to action. Let’s celebrate and preserve Yoruba culture together,” he said.
**How to Get Involved**
The programme is open to anyone keen on exploring Yoruba traditions. Episodes are regularly released on Aafin Ilu’s platforms.
Followers can directly engage by answering questions and decoding drum messages, fostering a fun and educational experience.
For updates and participation, follow Aafin Ilu on social media or subscribe to their YouTube channel.
Joseph Aloba, father of late singer Mohbad, reveals his life improved significantly after his son’s passing, attributing it to divine help
Joseph Aloba, the father of late Nigerian singer Mohbad, has shared how his life has seen a remarkable improvement since the tragic passing of his son in September last year.
Speaking in an interview with media personality Akin Abolade, Aloba expressed gratitude for the unexpected blessings he has received, which he credits to the combined influence of Mohbad’s spirit and God.
In the emotional interview, Aloba revealed that Mohbad had made significant plans to support him, but these ambitions remained unfulfilled due to unforeseen circumstances before the singer’s untimely death.
However, he stated that since Mohbad’s passing, he has experienced an outpouring of support from well-wishers who have provided him with essential items, including a car.
“Let me just say yes, my life got better after Mohbad’s death because he is my friend. He had it in plan to do many things for me, but they didn’t allow him to do them,” Aloba explained.
“After his death, it was the spirit of Mohbad, and that of God combined together that began to send people to assist me. Even the car and everything I have now, it was people that gave them to me, and it is beyond ordinary.”
Reflecting further, Aloba noted that the assistance he now receives mirrors the intentions his son had for him. He added, “Those were the things he was meant to be doing for me, but they didn’t allow him to do them.”
The late Mohbad, born Ilerioluwa Oladimeji Aloba, passed away under mysterious circumstances in September 2024, leaving fans and the Nigerian music industry in mourning. Investigations into the cause of his death remain ongoing, with many still seeking answers.
Nigerian superstar Davido sends a powerful message to his critics, reaffirming his commitment to success despite ongoing attacks from industry colleagues. His social media post inspires fans to stay resilient
Nigerian music superstar, Davido, has shared a determined message with his critics, reaffirming his unyielding pursuit of success despite months of scathing attacks from some of his colleagues.
The message, posted on his social media on Tuesday night, read: “What the enemy wants you to do is stop … KEEP GOING!” This succinct declaration shows Davido’s commitment to focus on his success and let his achievements silence his detractors.
The post has attracted over 400,000 views, with many fans praising his resilience. One fan, Damilola, shared a comparison to football legend Cristiano Ronaldo, noting that despite Ronaldo’s success, critics still undermine him, just as some do to Davido after years of dominance in the African music scene and success internationally.
Other fans, such as Babangida, lauded Davido’s achievements, asserting that he is “the greatest of all time.”
In the wake of recent criticisms, Davido’s message encourages perseverance, echoing the importance of pushing forward despite challenges.
His supporters continue to express their admiration, rallying behind his journey and urging him to keep striving for greatness.
Yoruba heritage revived: Prince Adewale Laoye launches “ṢÓ O GBỌ́LÙ” online program
Osun West APC leaders push for governorship ticket in 2026
Father of late singer Mohbad credits improved life to divine, spiritual assistance
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