Hon Hai Precision Industry (TPE:2317) unit Cloud Network Technology Singapore acquired 727.5 million shares in Ingrasys Technology Mexico for $39.5 million, according to a Thursday Taiwan Exchange filing.
Shares gained 1% in Friday's midday trade.
The transaction is a long-term investment funded through internal capital.
Following the deal, Cloud Network Technology Singapore holds a 39.6% stake in Ingrasys Technology Mexico, the filing said.
Reliance Power (NSE:RPOWER, BOM:532939) booked a consolidated loss of 4.94 billion Indian rupees in the fiscal fourth quarter, compared with consolidated profit of 1.26 billion rupees a year earlier, according to a Thursday filing with the Indian exchanges.Loss per share during the quarter ended March 31 stood at 1.194 rupees, compared with earnings per share of 0.280 rupees a year earlier.Revenue from operations in fiscal Q4 decreased to 18.9 billion rupees from 19.8 billion rupees a year earlier.Shares of the company fell nearly 1% in Friday's trading.
Solid Asia-Pacific corporate and financial institution credits continue to anchor capital flow and benchmark deals in the region, Fitch Ratings said in a Friday release.Global emerging market portfolio inflows reached $58.3 billion in April, a reversal of the $66.2 billion outflow in March, Fitch cited the Institute of International Finance as saying.Emerging Asia accounted for the largest share in debt investments for the month, indicating stable investor demand for Asian debt despite oil price pressure due to the Iran war, Fitch said.Emerging markets including India, Indonesia, the Philippines, Sri Lanka, and Thailand have observed depreciation in the 5% to 7% range due to the Iran conflict, reflecting oil import reliance and fuel buffers, the rating agency said.Investor appetite among emerging Asian markets exhibits differentiation, as seen in greater FX reserve drops for the Philippines and Sri Lanka compared to the others, Fitch said.The rating agency believes sovereign support anchors funding access for issuers, with debt markets gaining from countries' external positions, deeper domestic funding markets and better policy response to shocks.
ApicHope Pharmaceutical (SHE:300723) unit Guangzhou Yipinhong Pharmaceutical obtained drug registration from China's medical products regulator for aminocaproic acid injection.The drug is used to treat various bleeding caused by hyperfibrinolysis, according to a Friday fling with the Shenzhen bourse.The approval is valid until May 2031.Shares of the pharmaceutical company were up 3% Friday.