Lifestyle
Japan's benchmark Nikkei 225 index soars more than 10% after plunging a day earlier
TOKYO (AP) — Japan’s benchmark Nikkei 225 share index soared as much as 10.7% early Tuesday, a day after it plunged the most in 37 years.
The index gave up some of those gains as it wavered throughout the day but closed 10.2% higher at 34,675.46. Other Asian markets also were higher after sharp losses on Wall Street that were dramatic but not on the same scale as Monday’s 12.4% nosedive in Tokyo.
Many shares rose by double-digit percentages similar to their losses a day before, with automaker Toyota Motor Corp. rocketed 12.8%.
Computer chip maker Tokyo Electron jumped 16.6%, Honda Motor Co. advanced 14.7% and Mitsubishi UFJ Financial Group was up 5.8%.
The losses of the past several sessions followed a move by the Bank of Japan last week to raise its main interest rate from nearly zero. Such a move helps boost the value of the Japanese yen, but it also led traders to scramble out of deals where they had borrowed money for virtually no cost in Japan and invested it elsewhere around the world.
Officials from Japan’s Finance Ministry, Financial Service Agency and the Bank of Japan met Tuesday to address the recent market gyrations.
Atsushi Mimura, a top ministry bureaucrat, declined to comment directly on the specifics of the market, as is government policy. But he noted that market experts were saying recent volatility reflects various global developments, and markets are going up and down elsewhere as well.
He cited geopolitical risks like rising tensions in the Middle East and recent economic data. He also pointed to increases in wages and investment in Japan.
“We maintain the view that the Japanese economy is gradually recovering, going forward,” he told reporters.
The government officials and the central bank reconfirmed their agreement to watch internal and external fiscal situation, and work together “as one,” said Mimura, vice finance minister for international affairs.
When asked, Mimura declined to comment on whether the recent BOJ rate hike had triggered the market’s movements. He said the government was closely watching the foreign exchange rates and aiming for stability as always.
Various factors combined to cause Monday’s carnage, according to Stephen Innes of SPI Asset Management, likening Tuesday’s bounce to a “lifeboat.”
“As always with the market, take this to heart: Yesterday’s misery often turns into today’s punchline. The swift twists and turns of trading can transform what seemed like a dire situation into a fleeting memory, one that’s often laughed about in trading rooms the next day,” he said.
The Nikkei is now up 7.7% from a year ago, but more than 9% below its level three months ago. Its biggest ever percentage gain was 14.2% in October 2008.
Lifestyle
A duct-taped banana sells for $6.2 million at an art auction
NEW YORK — A piece of conceptual art consisting of a simple banana, duct-taped to a wall, sold for $6.2 million at an auction in New York on Wednesday, with the winning bid coming from a prominent cryptocurrency entrepreneur.
Comedian, by Italian artist Maurizio Cattelan, was a phenomenon when it debuted in 2019 at Art Basel Miami Beach, as festival-goers tried to make out whether the single yellow piece of fruit affixed to a white wall with silver duct tape was a joke or cheeky commentary on questionable standards among art collectors. At one point, another artist took the banana off the wall and ate it.
The piece attracted so much attention that it had to be withdrawn from view. But three editions sold for between $120,000 and $150,000, according to the gallery handling sales at the time.
Five years later, Justin Sun, founder of cryptocurrency platform TRON, has now paid more than 40 times that higher price point at the Sotheby’s auction. Or, more accurately, Sun purchased a certificate of authenticity that gives him the authority to duct-tape a banana to a wall and call it Comedian.
The piece attracted heavy attention at the busy auction at Sotheby’s, with attendees in the crowded room holding up phones to take photos as two handlers wearing white gloves stood at both sides of the banana.
Bidding started at $800,000 and within minutes shot up to $2 million, then $3 million, then $4 million, and higher, as the auctioneer, Oliver Barker, joked “Don’t let it slip away.”
“Don’t miss this opportunity,” Barker said. “These are words I’ve never thought I’d say: Five million dollars for a banana.”
The final hammer price announced in the room was $5.2 million, which didn’t include the about $1 million in auction house fees, paid by the buyer.
In a statement, Sun said the piece “represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.” But he said the latest version of Comedian won’t last long.
“Additionally, in the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture,” Sun said.
Sotheby’s calls Cattelan “among Contemporary Art’s most brilliant provocateurs.”
“He has persistently disrupted the art world’s status quo in meaningful, irreverent, and often controversial ways,” the auction house said in a description of Comedian.
The sale came a day after a painting by the Belgian surrealist René Magritte sold for $121.2 million, a record for the artist, at a separate auction.
The Empire of Light, an eerie nighttime streetscape below a pale blue daytime sky, sold Tuesday as part of Christie’s sale of the collection of interior designer Mica Ertegun, who died last year at age 97.
The sale lifts Magritte into the ranks of artists whose works have gone for more than $100 million at auction. Magritte is the 16th member of the club, which also includes Leonardo da Vinci, Pablo Picasso and Andy Warhol, according to the market analyst firm Artprice.
The Empire of Light, executed in 1954, was one of 17 versions of the same scene that Magritte painted in oil. Marc Porter, chairman of Christie’s Americas, called the sale “a historic moment in our sale room.”
The $121.2 million price included the auction house’s fees. The buyer was a telephone bidder whose identity was not disclosed.
Lifestyle
This L.A. ceramist's vessels offer joy in uncertain times. Thank her 'weird imagination'
Linda Hsiao was standing at a weathered work table inside her ceramics studio in Altadena. It was the day after Halloween, and her two children, Saben Taylor, 5, and Wawona Hsiao, 3, worked alongside her, hand-sculpting clay vessels as wild as a child’s imagination. Like Saben’s handprints in the concrete patio outside the studio, Hsiao’s own wildly creative imprint is clear in the whimsical vessels that line the shelves of the former two-car garage: from long-beaked toucan pitchers and owl juicers to Japanese daruma wishing dolls and Venus of Willendorf lady tiki cups.
“I’ve always had a weird imagination,” Hsiao said as she continued to work on an emerging large-scale vase. “I like the idea of creating mythical creatures that are a hybrid. They are ambiguous and not quite what you would assume. I wish they existed.”
“Are we going to school today?” Saben asked.
“Yes,” Hsiao replied, to his disappointment.
“Many of my vessels are inspired by my kids,” Hsiao said after Saben and Wawona left for school with their father, architect Kagan Taylor. “I feel like I’m constantly being filled … and emptied.”
Hsiao grew up in Laguna Hills, where her parents, Taiwanese immigrants, ran a farm specializing in Chinese fruits and vegetables such as bok choy and bamboo shoots. Her proximity to the ocean and their farm inspired her love of nature, which she describes as “a leading force” in her life. Looking back, she laughs as she recalls explaining to her elementary school teacher that “watermelons were not just red, but yellow too.” This love for nature is evident in her ceramics, which often feature elements of the natural world.
From a young age, Hsiao, now 42, was drawn to working with her hands and taking art and sculpting classes. Her parents wanted to support her and sent her to a summer program at Parsons School of Design in New York City as a teenager. “My parents thought, ‘That’ll get New York out of her system,’” she said with a chuckle. But it only fueled her passion further.
After high school, Hsiao attended Pratt Institute in Brooklyn, where she studied industrial design. Following her graduation in 2004, she dedicated nearly a decade to designing eyewear, often spending 12 hours a day in front of a computer. This intense focus left her feeling “dizzy” and craving a more hands-on creative outlet.
So she joined a few community studios in Brooklyn and started doing ceramics. However, living in New York was hard, and she missed gardening and the easy access to nature in California.
After nine years, she moved back to California, where she took ceramics classes at Saddleback College and Glendale Community College at night while freelancing — designing everything from eyewear to jewelry for big brands to snowboarding gear — during the day.
A hand-building class with ceramics artist and teacher Biliana Popova at Glendale Community College changed her career path. “I didn’t take to wheel throwing because I didn’t want things to be perfectly symmetrical,” Hsiao said. “I always wanted to manipulate my forms and change them. My hands always wanted to sculpt. After I took a hand-building class, I never looked back.”
Hsiao’s ceramics are sweet and quirky — tiki cups, Japanese daruma wishing dolls, tiny creatures and bird pitchers and creamers.
Later, after she met her husband — and before they had children — the couple collaborated on a series of handmade wooden baby rattles they sold as part of Knotwork LA, and she began to do ceramics out of their home in Highland Park. (They have temporarily stopped making the rattles but hope to re-stock them again as the kids get older.)
“Knotwork LA was created as an outlet to identify the work we do in our spare time,” she said. “Precious pieces of wood saved from other projects or found while hiking, ideas that came to us in the middle of the night and a desire to create beautiful, useful things.” After juggling freelance work and producing ceramics in the evenings and on weekends for 10 years, she decided to take a leap of faith and do ceramics full-time in 2016.
She started with an order of more than 800 plates and dishes for Curtis Stone’s restaurant, Gwen, in Hollywood.
Since then, her studio has evolved as her work has become more sculptural, and her inventory has become more broad.
Hsiao’s handmade ceramics and figurines, many of which she cuts out using a cardboard template after rolling the clay flat with a slab roller, exhibit a playful style that is thoroughly her own. “It’s kind of like sewing,” she said of using patterns. “I cut them out with a knife and mold and sculpt them afterward.”
Her works are filled with whimsy and joy, including a collection of platters and plates featuring inlaid porcelain flowers, vaguely defined creatures that hold birthday candles, penguin pitchers and buddhas. Although she has made lamps, she prefers to focus on affordable goods that can go straight into someone’s home for them to enjoy. “I like having a price point that is somewhat attainable for most people,” she said. “Lamps are expensive.”
Her dream was always to have a studio at home, invest in a kiln and save money on studio expenses. After purchasing their first home in 2020, the couple spent eight months redoing the garage, which had a collapsed roof, last year. The studio is now an artist’s dream, with two kilns, ample space to work, storage and a dedicated area where Hsiao can pack her orders.
“I was using our bedroom as our showroom before,” she said. “It was rough.”
But even though Hsiao is working from home most days, meeting people in person has always been a highlight of having a small business. In order to do even more of that, she, Heather Praun of Plant Material and designer Bianca D’Amico of Chaparral Studio launched a semi-annual craft show at Plant Material’s Altadena location. They’ve held “about five” of them so far; the next takes place Dec. 14 and 15. “The whole community shows up,” she said, smiling. “I’ve been lucky enough to participate in some of the most vibrant collections of makers throughout the years and made friends with many. It was a delight after moving to Altadena to find that so many of the makers have found themselves here raising families, going to the same schools and parks.”
“How she prioritizes creativity in all aspects of her life has always inspired me,” D’Amico said. “There is endless thought and time poured into her work, but she exercises that part of herself in every aspect of her life. Even dinner [at] home has a crafty element: food tossed colorfully into various homemade bowls, the kids always helping make the food and nothing needs to match; it’s all about the time spent together. There is a sense that life is happening NOW, and she is engrossed in the moment.”
Hsiao said that balancing a small business in the backyard can be challenging while raising two young children, but she appreciates that she can return to the studio after she has put the kids to bed. “I’ve learned to love the quiet of working in the evenings, [and I ] try to take breaks on the weekends and fully spend time with the kids,” she said. “The balance is tough, but my kids see me trying to sneak in work since my studio is at home and always ask to help. They know I enjoy what I do, and I have no doubt they will spend more time with me in my studio as they get older.”
Despite feeling like an empty vessel sometimes — “much of it feels like there are never enough hours in the day,” she said — Hsiao knows time spent with her kids is fleeting. As she figures out what work/life balance means for her family, she often goes back to something artist and mother Megan Whitmarsh shared with her: “You will never regret all the work you didn’t make while your children were little because you decided to be a present and loving parent.”
In this series, we highlight independent makers and artists, from glassblowers to fiber artists, who are creating and producing original products in Los Angeles.
Lifestyle
'Gladiator II': Are you not entertained? Still? Again? Some more? : Pop Culture Happy Hour
Aidan Monaghan/Paramount Pictures
The new film Gladiator II is a sequel to Gladiator, Oscar-winning swords-and-sandals blockbuster that starred Russell Crowe. It tells a similar tale — a soldier, sold into slavery, becomes a gladiator in the Roman arena. This time out, it’s Paul Mescal whose prowess in the coliseum earns him fame that threatens Rome’s tyrannical rulers. Directed by Ridley Scott, the film also stars Pedro Pascal and Denzel Washington.
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