Hangzhou Flariant (SHA:605566) plans to purchase information technology equipment and servers worth up to 850 million yuan.
The move is subject to shareholder approval, according to a Friday filing with the Shanghai bourse.
Shares of the dye manufacturer closed 3% lower Friday.
Indian benchmark indices closed higher on Friday, supported by gains in heavyweight banking stocks.The BSE Sensex rose 231.99 points, or 0.3%, to close at 75,415.35, while the NSE Nifty 50 gained 64.60 points, or also 0.3%, to settle at 23,719.30.Investor sentiment remained mixed as Brent crude oil prices climbed more than 2% to trade above $105 per barrel amid continued uncertainty over a potential U.S.-Iran agreement.Meanwhile, the Indian rupee extended its recovery against the U.S. dollar, strengthening to 95.7 after touching a record low of 96.96 earlier in the month. Market participants continued to track intervention measures by the Reserve Bank of India aimed at stabilizing the currency.In earnings news, Minda Corp. (NSE:MINDACORP, BOM:538962) surged nearly 8% after fiscal fourth-quarter consolidated profit rose sharply to 1.25 billion rupees from 520.3 million rupees a year earlier.Sun Pharmaceutical Industries (NSE:SUNPHARMA, BOM:524715) declined over 2% despite reporting a higher fiscal fourth-quarter consolidated net profit of 27.1 billion rupees, compared with 21.5 billion rupees a year ago.Suzlon Energy (NSE:SUZLON, BOM:532667) gained nearly 2% after receiving a repeat 195 MW order from Sunsure Energy for a project in Karnataka, the company said in an exchange filing on Friday.
The Philippine central bank is considering an off-cycle interest rate hike before its next scheduled meeting on June 18, Governor Eli Remolona told One News in an interview on Friday.Bangko Sentral ng Pilipinas (BSP) raised its benchmark interest rate by 25 basis points to 4.50% in April, but Remolona said that it may not have been enough to rein in mounting price pressures.The Philippines, heavily dependent on imported oil, has faced inflation concerns following sharp increases in global fuel prices linked to tensions in the Middle East. The peso has also come under pressure, losing around 4.6% against the U.S. dollar this year.The BSP has already held an unscheduled policy meeting on March 26, becoming the first central bank in Asia to conduct an off-cycle rate increase this year.(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.)
Seika (TYO:8061) declared a year-end dividend of 45 yen per share for the fiscal year ended March 31, matching earlier forecasts but lower than the pre-stock split 130 yen per share paid a year ago.The total dividend payment amounts to 1.63 billion yen, payable from retained earnings on June 25, according to a Tokyo bourse filing on Friday.For the fiscal year ending March 31, Seika forecasts full-year dividends of 81.66 yen per share, after adjusting for the stock split, consisting of an interim dividend of 36.66 yen and a year-end dividend of 45 yen.