Real estate company Arkade Developers (NSE:ARKADE, BOM:544261) acquired the cluster redevelopment rights of nine residential societies in Mumbai, India, according to a Wednesday filing to the Indian stock exchanges.
The redevelopment will feature premium residences and will have a saleable area of 325,000 square feet with a projected gross development value of 11 billion Indian rupees.
The company's shares were up over 1% in recent trade.
India's Gujarat International Finance Tec-City (GIFT City) is attracting investors seeking global equities with its relaxed limits, Nikkei Asia reported Wednesday.GIFT City is exempt from India's $7 billion industry-wide cap on combined overseas investments of all mutual funds, the report said.The limit for funds outside GIFT City has been reached, forcing the investment arms of global funds like Schroders, J.P. Morgan, or HSBC to stop accepting fresh subscriptions. Therefore, they are turning to Gujarat's financial hub to push their funds, the report said.A country-agnostic equity fund launched in GIFT City by DSP Asset Managers garnered nearly $30 million in subscriptions since its launch in June 2025 and expects inflows to cross $200 million in a couple of years, according to the report."It's not country specific but sector specific, with investors focusing on themes like AI, semiconductors and cloud computing," Nikkei quoted Jay Kothari, DSP's head of international business and lead investment strategist, as saying.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Hong Kong stocks fell sharply on Wednesday as elevated oil prices and uncertainty over the durability of the U.S.-Iran ceasefire weighed on sentiment.The Hang Seng Index fell 1.1%, or 271.22 points, to close at 25,328.23, while the Hang Seng China Enterprises Index dropped 1.3%, or 113.87 points, to finish at 8,463.02.Iran said Tuesday that the U.S. had violated the ceasefire by launching strikes near the contested Strait of Hormuz, raising fresh doubts over prospects for ending the conflict.Meanwhile, Israel launched more than 120 airstrikes across Lebanon on Tuesday in one of the heaviest waves of bombardment in weeks, according to Lebanese security sources, Reuters reported.Tehran has demanded an end to Israeli operations in Lebanon as part of any broader agreement.Meanwhile, oil prices retreated from recent highs, giving back part of the previous session's gains as traders looked for clearer signals on U.S.-Iran negotiations after renewed hostilities disrupted efforts to reopen the Strait of Hormuz.In corporate news, three companies made their debut on the Hong Kong bourse.Viewtrix Technology (HKG:3310) closed nearly 92% higher at HK$39.90, compared with its offer price of HK$20.81.Shenzhen SDMC Technology (HKG:0901) gained 87% to close at HK$61.20, versus its offer price of HK$32.80.Beijing DeepZero Technology (HKG:2723) advanced nearly 266% to end the session at HK$203, compared with its offer price of HK$55.50.
Japan's automakers will further lag global competitors in electrification, S&P Global Ratings said in a Wednesday release.The country's vehicle producers have responded to the rising demand for low-carbon vehicles by offering hybrids, but this is unlikely to make them competitive with foreign peers, S&P said.The strategy will also fail to anchor Japan's long-term decarbonization efforts, while the country's policy conditions do not encourage automakers to accelerate their shift to full electrification, the rating agency said.Japan's policies have focused on incentivizing demand, with no decisive incentives for the producers, unlike other markets such as South Korea and Europe where both sides are being prioritized, S&P said.S&P considers Japan's battery electric vehicle and plug-in hybrid adoption as among the laggards in G-7 countries.The country's auto sector decarbonization mainly stems from fuel efficiency rather than electrification, with above 95% of electrified auto sales still accounting for internal combustion engines, S&P said.