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Live news: Asia stocks follow Wall Street down as rate cut bets ease
Most Asia-Pacific markets opened lower on Wednesday morning in line with falling investor confidence that the US will cut interest rates.
Hong Kong’s Hang Seng index dropped 1 per cent as Alibaba shares continued their slide, declining more than 2.5 per cent. Tencent stocks fell more than 1 per cent.
South Korea’s Kospi retreated nearly 2 per cent, while Australia’s S&P/ASX 200 index declined 1 per cent. China’s CSI 300 was flat, and Japan’s Topix inched up 0.2 per cent.
On Tuesday, the S&P 500 fell 0.6 per cent, dragged down by tech stocks. The tech-heavy Nasdaq Composite slid 1.6 per cent, notching its worst daily fall since late October.
The US Federal Reserve begins its next two-day interest rate-setting meeting on January 30.
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Nick Reiner will be charged with first degree murder in his parents’ killing
Michele Singer Reiner, Rob Reiner and their son Nick in 2013.
Michael Buckner/Getty Images for Teen Vogue
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Michael Buckner/Getty Images for Teen Vogue
Nick Reiner, the 32-year-old son of filmmaker Rob Reiner and photographer Michele Singer Reiner, is being charged with two counts of first degree murder. Los Angeles County District Attorney Nathan J. Hochman said at a press conference Tuesday that the charges include a “special circumstance” of multiple murders and a “special allegation” that Reiner used a dangerous and deadly weapon — a knife.

The charges carry a maximum sentence of life in prison without the possibility of parole.
“No decision at this point has been made with respect to the death penalty,” Hochman added.
Hochman called Rob Reiner an “iconic force in our entertainment industry” and his wife Michele Singer Reiner an “equally iconic photographer and producer.” The police became aware of their deaths on Sunday after a call from the fire department. Los Angeles Police Chief Jim McDonnell said the cause and time of the deaths aren’t available at this time as they await updates from the coroner’s office.
Alan Hamilton, deputy chief of the Los Angeles Police Department, said that Nick Reiner was arrested in public on Sunday, in the Exposition Park area of Los Angeles, near the University of Southern California campus. In response to questions, McDonnell said he was unable to say whether or not Nick Reiner was under the influence of drugs at the time of his arrest. Reiner had been open about his struggles with addiction in the past.


When asked whether there was evidence of mental illness in Nick Reiner’s background, Hochman said “any evidence, if there is any” would be presented in court. Hochman wouldn’t answer a question about whether Reiner admitted to the crimes, saying that is the type of evidence that would come out in court.
Hochman emphasized that “charges are not evidence” and that his office would be presenting evidence to jurors in a court of law. He asked people to rely on trusted sources and not hearsay about the case.
He said that, as in any case, his office would be taking “the thoughts and desires of the family into consideration.”
Prosecutors are filing charges Tuesday afternoon. Reiner is going through medical clearance – a normal process, according to officials – and will be brought to court for arraignment, where he will enter a plea. Reiner is currently being held without bail.


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Video: Nick Reiner Talked Openly About His Addiction Struggles
new video loaded: Nick Reiner Talked Openly About His Addiction Struggles
transcript
transcript
Nick Reiner Talked Openly About His Addiction Struggles
Nick Reiner was arrested and booked on suspicion of murder after his mother and father, the movie director Rob Reiner, were found dead in their home. The younger Reiner had been open about his struggles with drug abuse and homelessness.
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“I was scared to get in trouble…” “We’re talking with Nick Reiner and his father, Rob Reiner.” “I think I’m lucky in the sense that I have parents that care about me. And because of that, when I would go out and do, you know, things like drugs and stuff like that, I’d feel a tremendous amount of guilt because I’d think, oh, you know, they’re thinking about me right now. They want me to do good.” “How was it working with your son?” “Oh, good, good.” “Deep down, he trusted that we loved him and that we were there for him. And that put a little bit of a break on certain things. I mean, it’s a desire to survive.”
By Shawn Paik
December 16, 2025
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Peace plans ready to be presented to Russia in days, says Zelenskyy
Volodymyr Zelenskyy says proposals negotiated with US officials on a peace deal to end Russia’s war in Ukraine could be finalised within days, after which American envoys will present them to the Kremlin.
After two days of talks in Berlin, US officials said on Monday they had resolved “90%” of the problematic issues between Russia and Ukraine, but despite the positive spin it is not clear that an end to the war is any closer, particularly as the Russian side is absent from the current talks.
In the early hours of Tuesday morning the Ukrainian president said the US Congress was expected to vote on security guarantees and that he expected a finalised set of documents to be prepared “today or tomorrow”. After that, he said, the US would hold consultations with the Russians, followed by high-level meetings that could take place as soon as this weekend.
“We are counting on five documents. Some of them concern security guarantees: legally binding, that is, voted on and approved by the US Congress,” he said in comments to journalists via WhatsApp. He said the guarantees would “mirror article 5” of Nato.
On Monday, US officials declined to give specific details of what the security package was likely to include, and what would happen if Russia attempted to seize more land after a peace deal was reached. They did, however, confirm that the US did not plan to put boots on the ground in Ukraine.
Leaders of the UK, France, Germany and eight other European countries said in a joint statement that troops from a “coalition of the willing” could “assist in the regeneration of Ukraine’s forces, in securing Ukraine’s skies, and in supporting safer seas, including through operating inside Ukraine”.
They stopped short, however, of suggesting these would be guarantees that would match Nato’s article 5, and in any case there is little sign that Russia is anywhere close to agreeing to the kind of package under discussion between Washington and Kyiv.
On Tuesday, the Kremlin said it had not seen the details of proposals on security guarantees. “We have seen newspaper reports so far, but we will not respond to them. We have not seen any texts yet,” its spokesperson, Dmitry Peskov, told reporters.
Peskov added that Moscow, which has in the past demanded Kyiv cede territories Russia claims as its own and ruled out the presence of any foreign troops in Ukraine, had not changed its stance on the conflict and the achievement of its military goals.
“Our position is well known. It is consistent, it is transparent and it is clear to the Americans. And, in general, it is clear to the Ukrainians as well,” Peskov said.
Russia’s deputy foreign minister, Sergei Ryabkov, said Russia would not agree to troops from Nato countries operating in Ukraine “under any circumstances”. It was unclear whether that formulation also included troops drawn from Nato countries operating under a separate non-Nato command.
The German chancellor, Friedrich Merz, said on Monday that peace was closer than at any time since the beginning of Russia’s full-scale invasion. But privately, European officials say that at this stage the talks are more about keeping the Trump White House onboard with supporting Ukraine than about reaching a lasting deal between Moscow and Kyiv.
The main sticking point between the Ukrainian team and US negotiators remains the issue of land. Trump wants Ukraine to give up the parts of the Donbas region it still holds, while Ukraine wants to freeze the lines at the current point of contact. “We are discussing the territorial issue. You know it is one of the key issues. At this point, there is no consensus on it yet,” Zelenskyy said after the Berlin talks.
The US negotiation team, led by Steve Witkoff and Jared Kushner, has proposed a compromise solution whereby Ukraine would withdraw, but Russia would not advance and the demilitarised area would become “a free economic zone”. Russia has suggested that they could use police and national guard formations rather than the military, implying they would still expect to control the territory.
“I want to stress once again: a ‘free economic zone’ does not mean under the control of Russia. Neither de jure nor de facto will we recognise Donbas – its temporarily occupied part – as Russian. Absolutely,” said Zelenskyy.
It is not clear how the two sides will proceed on the territorial issue, with Zelenskyy previously suggesting that a compromise solution such as a free economic zone could be theoretically possible if the Ukrainian people voted for it in a referendum. The critical stumbling block is likely to be when the plans are put to the Russian president, Vladimir Putin, who has given no sign he is willing to compromise on his war aims.
“If Putin rejects everything, we will end up with exactly what we are experiencing on our plane right now – turbulence,” said Zelenskyy, recording the comments after his plane took off from Berlin for the Netherlands for a series of meetings on Tuesday.
“I believe the United States will apply sanctions pressure and provide us with more weapons if he rejects everything. I think that would be a fair request from us to the Americans,” he said.
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