Zhejiang Jiemei Electronic and Technology (SHE:002859) said there is no undisclosed material information or changes in its operations that could explain its recent stock movement.
The company's stock posted cumulative price increase deviations exceeding 20% over three consecutive trading days through June 1, according to a Tuesday filing with the Shenzhen bourse.
Shares of the electronic components manufacturer were up 7% Tuesday.
The Philippines government is looking to build petroleum reserves to protect against oil supply-related disruptions amid the ongoing Middle East conflict, Business World reported Tuesday.With a large dependency on the Middle East for oil imports, the region has witnessed increasing fuel prices, a trend that is expected to ease this week.Prices are likely to see a drop of at least 4.76 Philippine peso per liter for gasoline, 9.26 peso per liter for diesel, and 10.86 peso per liter for kerosene, the report said citing Energy Secretary Sharon S. Garin.The authorities are planning to put in place a strategic petroleum reserve program, which includes the establishment of new stockpiling facilities, to further tackle the oil supply disruptions, the report said."This will be a more systematic and a more organized system, one that won't be reactive, as we will have our own reserves in the Philippines," Garin reportedly said.The Department of Energy and state-owned Philippine National Oil Company and Maharlika Investment are looking into building reserves for at least an additional 30 days, according to Garin.(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.)
Hon Hai Precision Industry (TPE:2317), also known as Foxconn, formed a strategic partnership with French high-performance computing firm Bull to develop artificial intelligence infrastructure in Europe.Under the deal, Bull will lead AI system design and market development, while Foxconn will handle manufacturing and supply chain support, accoridng to a Monday press release.The companies said production and initial testing will take place at Foxconn's facility in the Czech Republic, while final assembly, integration, and validation will be completed in France.The partnership aims to accelerate deployment of AI infrastructure across Europe by combining Bull's system expertise with Foxconn's manufacturing capabilities.
Western Superconducting Technologies (SHA:688122) subsidiary Xi'an Juneng Superconducting Magnet Technology is looking to launch an IPO on the Beijing Stock Exchange, according to a Tuesday filing with the Shenzhen bourse.Juneng Magnet is looking to issue 25 million shares, with an overallotment option for up to 3.8 million shares.The subsidiary will use the proceeds, set at 301.9 million yuan, to fund its superconducting magnet production and research center projects.