Asianews

Asian markets mixed as traders pause ahead of US inflation data

MANILA, Philippines — Kapamilya star Piolo Pascual and Kapuso Star Dingdong Dantes won the Film Actor of the Year award for their performances in “Mallari” and “Rewind” respectively at the recent Box Office Entertainment Awards presented by the Guillermo Mendoza Memorial Scholarship Foundation (GMMSF), Inc.

This marks Piolo’s second Best Actor recognition, following his victory at the inaugural Manila International Film Festival (MIFF) last January, held in Hollywood, USA. 

Vilma Santos was named as the Film Actress of the Year. 

Piolo, accompanied by Mentorque producer John Bryan Diamante aka Bryan Dy, executive producer Rona Banaag, Clever Minds co-owner and supervising producer Omar Sortijas, director Derick Cabrido, along with his Mallaris co-stars Janella Salvador and Ron Angeles, personally accepted the prestigious award.

“Mallari,” an official entry to the 2023 Metro Manila Film Festival (MMFF), is a chilling cinematic journey into the depths of Fr. Juan Severino Mallari’s psyche, the Philippines’ sole documented serial killer from the 19th century. This meticulously crafted and the first-ever Filipino film to be distributed by Warner Bros. Pictures intertwines historical accuracy with psychological horror. Three major c haracters were brought to life by Piolo.

The film’s impact extended far beyond domestic borders, becoming an official part of the inaugural MIFF, a visionary project launched by Metropolitan Manila Development Authority/MMFF Acting Chairman Atty. Romando Artes. Mallari’s overwhelming success and positive reception have opened doors for numerous collaborations, much to the delight of the budding producer.

Meanwhile, Mentorque Productions, in partnership with Project 8 Projects, owned by directors Dan Villegas and Antoinette Jadaone, is set to make waves at the 2024 Cinemalaya Film Festival this August.

The recently completed shooting of “Kono Basho” in Japan was proudly announced by Mentorque’s President and CEO on his Facebook account, featuring an image of two women adorned in black kimonos.

Recent sightings of Bryan with Angkas President George Royeca and directors Dolly Dulu and Ivan Andrew Payawal also suggest a potential collaboration with Angkas in an upcoming project.

Additionally, a post featuring Bryan alongside TEN17P producer director Paul Soriano, his wife Toni Gonzaga-Soriano, and the couple Mikee Morada and Alex Gonzaga-Morada, owners of TinCan Prod uctions, hints at further exciting partnerships.

Amid these developments, the Mentorque producer is laser-focused on his entry for the 50th Metro Manila Film Festival, the fantasy-drama “Biringan.” 

Bryan’s joy is further amplified by the 14 out of 18 nominations garnered by “Mallari” at the upcoming FAMAS Awards night on May 26, 7 p.m., in the Fiesta Pavilion of the Manila Hotel.

The nominations include Best Actor (Piolo Pascual), Best Picture (Mentorque Productions/Clever Minds), Best Director (Derick Cabrido), Best Screenplay (Enrico C. Santos), Best Cinematography (Pao Orendain), Best Child Actor (Kian Co), Best Supporting Actress (Gloria Diaz), Best Supporting Actor (JC Santos), Best Editing (Noah Tonga), Best Sound (Immanuel Verona and Nerikka Salim), Best Production Design (Marielle Hizon), Best Visual Effects (Gaspar Mangarin), Best Theme Song (“Pag-ibig na Sumpa” by JK Labajo), and Best Musical Score (Von De Guzman).

“Mallari” previously bagged Best Supporting Actor, Best Musical Score, Best Visual Effects, and Third Best Picture at the Metro Manila Film Festival 2023 Gabi ng Parangal. Months have passed but efforts to put up such a huge film project are still reaping success.

The film makes its highly anticipated debut on Netflix on June 21. 

RELATED: ‘Kapag tuli na ‘ko’: Piolo Pascual opens up about having a family

HONG KONG, China — Equities fluctuated Monday as traders took a breather after the past weeks’ healthy run as they absorbed weak Chinese data and reports that the United States planned to ramp up tariffs on clean energy products from the Asian country.

A sharp drop in US consumer confidence and a pick-up in inflation expectations also weighed on sentiment as eyes turn to the release later this week of the latest consumer price index (CPI).

The readings follow a recent rally across world markets fuelled by optimism that the Federal Reserve and other major central banks will soon cut interest rates.

The week was set to begin on a tepid note after figures showed a drop in a broad measure of credit in China that sparked worries of a further slackening in the world’s number two economy.

That came as the Wall Street Journal reported that the White House is looking at almost quadrupling tariffs on Chinese electric vehicles as part of a plan that will also target batteries and solar cells.

A decision, expected on Tuesday according to reports, would come as President Joe Biden gears up for a rematch with Donald Trump in November’s presidential election.

Last month, he urged for a tripling on tariffs for steel and aluminium as he courted blue-collar voters.

Still, analysts said the decision on EVs would not likely have much impact on China’s growth as the sector was not reliant on US buyers, while some said retaliatory actions were unlikely.

The news came after weekend figures showing China’s CPI rose more than expected in April, marking the third straight month of gains and providing some fresh hope for the economy.

In New York, the Dow and S&P 500 rose, even as a report showed consumer sentiment tumbled in April to its lowest level since November, while a survey of inflation expectations over the next year picked up.

Investors are now keeping a close eye on the US CPI, which is due Wednesday and will be pored over for an idea about the Fed’s plans. The reading comes after three straight months of forecast-beating readings that have seen a whittling away of rate cut expectations.

Meanwhile, Dallas Fed chief Lorie Logan warned she thought it too early to think about any reductions, while governor Michelle Bowman did not see so far foresee any this year.

“As long as the labour market remains tight, consumer resilience could continue to dampen hopes of inflation cooling off,” Subadra Rajappa, at Societe Generale in New York, said.

“A resumption of the disinflationary trend is imperative for the Fed to consider cutting this year.”

Discussion on the US rate outlook comes as expectations rise that the European Central Bank and Bank of England are planning to cut in the summer.

London, Paris, Frankfurt and Amsterdam all hit new heights, with shares also benefitting from strong first-quarter earnings.

However, Asian markets were mixed in early exchanges, with Shanghai, Sydney, Seoul, Wellington and Jakarta all down, while Hong Kong, Singapore, Taipei and Manila rose, with Tokyo flat.

Tokyo – Nikkei 225: FLAT at 38,243.59 (break)

Hong Kong – Hang Seng Index: UP 0.6 percent at 19,084.04

Shanghai – Composite: DOWN 0.5 percent at 3,139.55

Dollar/yen: DOWN at 155.85 yen from 155.88 yen on Friday

Euro/dollar: DOWN at $1.0770 from $1.0772

Pound/dollar: DOWN at $1.2522 from $1.2525

Euro/pound: DOWN at 86.01 from 86.06 pence

West Texas Intermediate: DOWN 0.6 percent at $77.82 per barrel

Brent North Sea Crude: DOWN 0.6 percent at $82.32 per barrel

New York – Dow: UP 0.3 percent at 39,512.84 (close)

London – FTSE 100: UP 0.6 percent at 8,433.76 (close)

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