Henan Shijia Photons Technology (SHA:688313) agreed to terminate plans to acquire a stake in Dongguan Fuchengxin Communication Technology, according to a Shanghai bourse filing on Wednesday.
The acquisition was initially planned to be implemented through share placement and cash.
All parties related to the transaction failed to reach a consensus on key matter, including the transaction price.
The Chinese optical communication company's shares dipped 9% at the close.
Chinese Foreign Minister Wang Yi called on the United Nations to protect multilateralism and uphold the U.N. Charter during a meeting of the Security Council Tuesday."The international order established by the Charter has not been effectively maintained, and the basic norms of international relations embodied in the Charter have not been earnestly observed," Wang said in his speech.The remarks are seen as a swipe against the U.S. but stopped short of mentioning the U.S. or President Donald Trump explicitly, the South China Morning Post reported.Wang also called on the U.S. and Iran "to meet each other halfway so that peace can return to the Middle East as early as possible."
South Korea's central bank is expected to hold the seven-day repurchase rate steady at 2.50% at its rate-setting meeting on Thursday, 22 out of the 23 economists projected in a Bloomberg survey.The economist who did not agree with a steady-rate policy this time expects a quarter-point hike, Bloomberg said in a Wednesday report.The central bank's first dot plot, introduced in February under former Governor Rhee Chang-yong, showed that policymakers expected rates to remain steady at 2.5% over the next six months.Investors are now watching for any upward shift in the median outlook under the new Governor Shin Hyun Song and newly appointed board member Kim Jin Ill. Ill's appointment is viewed as tilting the board toward a more hawkish stance after the exit of dovish member Shin Sung-hwan, the report said.The Bank of Korea has already warned that consumer prices could rise well above the 2.2% forecast issued in February, with Governor Shin cautioning that higher oil prices and a weaker currency may add to price pressures while cutting growth short, Bloomberg reported.(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.)
Wuhan Fingu Electronic Technology (SHE:002194) appointed Hou Xueli chief financial officer, according to a Shenzhen bourse filing on Wednesday.Hou will take over from Fan Zhihui, who resigned due to work adjustments.The Chinese radio frequency devices manufacturer's shares closed 5% lower.