China Hainan Rubber Industry (SHA:601118) made adjustments in its renewed rubber insurance deal for the year, according to a Shanghai bourse filing on Tuesday.
The Chinese rubber company will pay an additional insurance premium of 2.1 million yuan and its insurance premium rate will rise to 13.9% from 13.24%.
The deal was signed with China Pacific Property Insurance, PICC Property and Casualty (HKG:2328), China Life Property & Casualty Insurance, and Sunshine Property Insurance.
JCHX Mining Management (SHA:603979) renewed the contract for Open Development's potash mine in Laos, according to a Shanghai bourse filing on Tuesday.The contract is expected to be valued up to 125 million yuan, with the final value yet to be determined.The mine in Khammouane Province will produce 500,000 tons of potassium chloride every year.The company will conduct underground mining and mine development works in the area until Dec. 31.The Chinese mining construction company's shares rose 4% at the close.
Chinese shares rose on Tuesday, supported by a rally in technology stocks and the upcoming index rebalancing.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.4% to 4,075.10. The Shenzhen Component Index went up 1.6% to 15,591.13.Markets are balancing renewed geopolitical risks from the U.S.-Iran war against continued enthusiasm for artificial intelligence-driven growth and technology investment," Reuters reported, citing Robert Savage, head of markets macro strategy at BNY.Meanwhile, China is the only major emerging market drawing investment into its equity, bond, and currency markets, Savage added.Also, boosting sentiment is China's upcoming semi-annual index rebalancing.According to Goldman Sachs estimates, adjustments to major CSI and CNI indexes scheduled for June could trigger over $48 billion in gross two-way passive investment flows, Reuters reported. The adjustments will raise the representation of information technology, telecommunications, and industrial companies.In company news, Far East Smarter Energy (SHA:600869) and its subsidiaries won contracts of about 1.80 billion yuan in May. Shares of the wire and cable manufacturer closed 10% higher Tuesday.
Unimicron Technology (TPE:3037) has completed the registration of a capital reduction linked to a restricted stock award (RSA) write-off, according to a Monday Taiwan Exchange filing.Shares slumped over 7% in Tuesday's midday trade.The company cancelled 373,500 shares, reducing its paid-in capital to NT$15.752 billion from NT$15.755 billion.Following the adjustment, outstanding shares declined to nearly 1.58 billion, it said.