Five illegal miners died and one was injured in a shaft collapse early Sunday in Huize County in Yunnan, China, Reuters reported Sunday.
The lone survivor is in stable condition, according to the report.
The accident followed the May 22 gas explosion at a Shanxi coal mine.
(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.)
Japanese shares crossed a record high of 67,000 in Monday's trade to close higher, tracking Asian peers that also posted gains driven by optimism over investments in artificial intelligence.The Nikkei 225 pared early gains to close up 604.83 points or 0.9% at 66,934.33.The focus on technology stocks helped overcome caution around the slow progress in the negotiations for a peaceful resolution of the ongoing geopolitical tensions in Iran.The gains were led by the SoftBank Group (TYO:9984), the investment company that focuses heavily on AI, closing up over 14% after extending its gains from last week. The surge in the company's share price on Monday helped SoftBank to push its market capitalization to over 47 trillion yen, making it the most valuable company on the Tokyo exchange for the first time in over two decades.It was also reported that on Sunday, SoftBank Group (TYO:9984) has committed to developing and operating 5 gigawatts of artificial intelligence data center capacity in France, with a pledge to invest up to 75 billion euros.Also, Japanese technology group Kioxia Holdings Corp (TYO:285A) closed higher by over 10%.In other corporate news, Kansai Electric Power (TYO:9503) plans to build new liquefied natural gas-fired plants as part of a broader push to increase generating capacity by about 30% by fiscal 2040, Nikkei Asia reported Monday, citing President Nozomu Mori.Also, Shionogi & Co's (TYO:4507) has received the US Food and Drug Administration's approval for its Xocova or ensitrelvir as the first and only oral antiviral for post-exposure prophylaxis of COVID-19 in individuals aged 12 and older, according to a Tokyo bourse filing on Monday.
South Korean stocks climbed to a new high on Monday, buoyed by strong gains in semiconductor firms and AI-related shares. Shares of major market movers Samsung Electronics (KRX:005930), SK Hynix (KRX:000660), and LG Electronics (KRX:066570) added over 10%, more than 1%, and nearly 30%, respectively, at market close.The Korea Composite Stock Price Index or Kospi rose 312.23 points, or 3.7%, to end at 8,788.38. The Kosdaq decreased by 24.77 points, or 2.3%, to close at 1,050.03.In economic news, South Korea recorded a trade surplus of $26.9 billion in May, a new all-time high, and marking the third straight month of more than $20 billion in trade surplus, the Ministry of Trade, Industry and Energy said in a Monday release.It came as exports increased 53.2% to $87.8 billion from the year-ago period, the sharpest pace of growth since 1984. Imports rose 20.8% to $60.8 billion.Semiconductor exports surged 169.4% to a record $37.16 billion, while non-semiconductor exports increased by 16%. Rising memory chip prices amid increased capital spending by major U.S. technology companies pushed chip exports higher.In corporate news, Hanmi Science (KRX:008930) signed a technology licensing agreement for Sonefpeglutide (HM15912), a short bowel syndrome drug, with Eli Lilly and Co., according to a Monday filing with the Korea Exchange.The technology licensing agreement is worth up to $1.26 billion, including a $75 million upfront payment and up to $1.185 billion in development, regulatory, and commercial milestones, along with royalties based on future sales.Shares of the company rose more than 4% at market close.
HyUnion Holding (SHE:002537) plans to invest 10 million yuan into a five-year partnership fund, according to a Saturday filing on the Shenzhen bourse.The Chinese auto electrical equipment maker's shares rose 2% during Monday's afternoon trade.The company will own 18.8% of the Ningbo Shuteng Venture Capital Partnership (Limited Partnership), which will invest in companies within the digital technology sector.Ningbo Shuteng Venture Capital plans to raise a total of 53.1 million yuan.