Sinosoft (SHA:603927) subsidiary Ningbo Sinosoft Information Technology has completed its deregistration following acceptance by market administrators in Ningbo, China, according to a Thursday filing with the Shanghai bourse.
The cancellation will help the Chinese software developer reduce management costs, optimize resource allocation, and improve operational efficiency, according to an April 12, 2025 filing.
Japan's railway operators have seen greater interest from activist investors due to perceived unlocked shareholder value, Nikkei Asia reported Thursday.Aya Nomura, daughter of activist investor Yoshiaki Murakami, holds roughly 3% in Osaka-based rail operator Kintetsu Group Holdings (TYO:9041), the report said.Nomura also owns about 2% of Nagoya Railroad (TYO:9048) and around 1% of Keihan Holdings (TYO:9045), also from Osaka, according to the report, citing May shareholder meeting releases.Other activist investors banking on railway companies include City Index Eleventh, with around 8% of holdings in Keikyu (TYO:9006) as of March, and 3D Investment Partners, holding around 7% in Seibu Holdings (TYO:9024) as of May, the report said.Railway stocks are materially undervalued as per the activists, with Nagoya Railroad and Keihan Holdings' price-to-book ratio of 0.7% and 0.9%, respectively, being under the liquidation value of 1, the report said.Rail operators also own large amounts of real estate with unrealized gains, such as train stations and commercial complexes, according to the report.The activists are pushing for the sale of underutilized real estate or redevelopment through partnerships to improve the rail operators' asset efficiency, the report said.(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.)
The Ramco Cements (NSE:RAMCOCEM, BOM:500260) said an excise duty dispute related to levy based on MRP for bagged cement amounting to 16 million Indian rupees has been dropped, according to an India bourse filing on Thursday.Shares of the company rose nearly 3% in recent trade.
Hong Kong stocks extended losses Thursday as a flare-up in Middle East tensions hurt risk appetite.The Hang Seng Index fell by around 379.81 points, or roughly 1.5%, to end at 25,253.40, while the Hang Seng China Enterprises Index decreased by 94.68 points, or around 1.1%, to close at 8,501.91.Renewed hostilities between the US and Iran jolted investor confidence across Asian markets Thursday, Reuters reported. The overnight clashes, which involved Kuwait and Bahrain, mark the most significant escalation since a ceasefire took effect in early April and threaten to undermine ongoing US-Iran talks over extending the truce and reopening the Strait of Hormuz.Elsewhere, China slammed the U.S. for alleging the use of forced labor in the country as a pretext for additional tariffs."There is no such thing as 'forced labor' in China, and we oppose using this as a pretext for political manipulation," Beijing's Foreign Ministry Spokesperson Mao Ning said in a regular press briefing.The Office of the United States Trade Representative recently proposed additional taxes on imports from 60 regions, including China and Hong Kong, over forced-labor trade practices, calling for a 10% additional tariff for economies that have partially enforced bans on the importation of certain forced labor goods, and a 12.5% tariff for all others.In local development, Hong Kong's Exchange Fund is seeking investment managers for a mandate tied to the S&P 500 Index, Bloomberg News reported.The HK$4.3 trillion fund has been reviewing proposals in recent months and is looking for a low-tracking-error strategy that closely mirrors the benchmark's performance, according to the report.In corporate news, Luye Pharma (HKG:2186) proposed issuing $180 million of 5.25% convertible bonds due 2031 and concurrently repurchasing its outstanding $180 million 6.25% convertible bonds due 2028.The company's shares closed nearly 15% lower.