Chinese shares opened higher on Monday as China kept its benchmark lending rates steady in June.
The Shanghai Composite Index, the main gauge of Chinese stocks, ticked up 0.1% to 4,093.95. The Shenzhen Component Index rose 0.4% to 16,095.63.
The one-year loan prime rate (LPR), which serves as the benchmark for most corporate and household loans, was held at 3.00%.
Meanwhile, the five-year LPR, the reference rate for residential mortgages, was maintained at 3.50%.
Ly Corp's (TYO:4689, SGX:1H8) subsidiary, Ly Furniture, filed an appeal to the High Court of Malaysia after the Johor Bahru Sessions Court made a partial ruling against it in a warehouse dispute against Xin Hwa Trading & Transport.The court has ordered the subsidiary to pay 311,501 ringgit plus interest and costs on a counterclaim filed by Xin Hwa, according to a Wednesday filing with the Singapore Exchange.The court partially allowed LY Furniture's original claim against Xin Hwa for missing inventory and awarded it 100,000 ringgit with 5% annual interest.Meanwhile, Xin Hwa's counterclaim for unpaid warehousing fees was allowed to stand in full, with an accrued interest of 1.5% per month, starting from February 2023.LY Furniture has filed its notice of appeal and is not expecting the case to have a material impact.
RS Technologies (TYO:3445) will invest 8.04 billion yen for a 49% stake-in a grid-scale battery energy storage project in Otawara City, Tochigi Prefecture, through a silent partnership in special purpose company GK CDH JAPAN BESS4.The project, with total investment of about 16.4 billion yen, features a rated output of 99.82 MW and approximately 400 MWh storage capacity, equivalent to the daily electricity usage of roughly 35,000 households.Capital contributions are scheduled in stages from August 2026 through August 2029, with commercial operations planned to commence in October 2029.The initiative addresses growing power supply-demand balancing needs amid renewable energy expansion, and is expected to establish a new earnings base for the company.
EcoWise (SGX:5CT) expects a net loss from continuing operations for the fourth quarter and fiscal year ending April 30, according to a Friday Singapore bourse filing.The company attributed the forecast to a lower fiscal Q4 profit and a full-year loss incurred in the resource recovery segment, a lower other income due to the absence of a one-off gain from the disposal of certain assets as seen in the prior-year period, and higher administrative expenses.