Standard Chartered (HKG:2888) repurchased 783,599 shares on Thursday at an average price of 18.99 pounds sterling apiece, according to a Friday filing with the Hong Kong bourse.
The British lender plans to cancel the shares, following which it will have about 2.21 billion shares in issue.
San ju San Financial Group (TYO:7322) will introduce an employee stock ownership plan to grant company shares to staff of its subsidiary San ju San Bank through a trust structure, according to a Friday filing on the Tokyo Stock Exchange.The company will establish a trust with Mizuho Trust & Banking, with Custody Bank of Japan as re-trustee, to acquire and manage shares using funds provided by the subsidiary. The trust will buy shares on the market or via treasury stock disposal and distribute them to employees based on internal point allocations.San Ju San said it will place 470 million yen into the scheme, with the trust set to acquire up to 281,100 shares between May 29 and June 11.Employees will receive shares or cash equivalents once eligibility conditions are met, while voting rights will be exercised through a trust administrator.
Desco Infratech (BOM:544387) secured an order worth 166.7 million Indian rupees from state-owned explorer Oil and Natural Gas Corporation (NSE:ONGC, BOM:500312), according to a BSE filing to the BSE.The contract is for the replacement of 24-inch crude oil transfer pipelines from ONGC Trombay terminal to the refineries of Bharat Petroleum Corporation (NSE:BPCL, BOM:500547) and Hindustan Petroleum Corporation (NSE:BPCL, BOM:500547) refineries in the Uran plant in Maharashtra, India.The company's shares were up over 1% in recent trade.
Chinese stocks slumped following the departure of U.S. President Donald Trump from Beijing Friday as his meeting with President Xi Jinping failed to excite investors.The Shanghai Composite Index, the main gauge of Chinese stocks, lost 1% or 42.53 points to fall to 4,135.39. The Shenzhen Component Index declined 1.2% or by 184.36 points to 15,561.37.The meeting at the Zhongnanhai complex in Beijing did not produce any significant policy, including an easing of tariffs, according to a Reuters report."I think we were optimistically looking at the meeting and maybe half expecting some huge trade agreement to be proposed or announced and from that view, it has disappointed," Reuters quoted ATFX Global Chief Market Analyst Nick Twidale as saying.Both Trump and Xi were not able to discuss export controls on semiconductors, Trade Representative Jamieson Greer told Bloomberg in an interview Friday.Trump said the U.S. was able to secure "fantastic" trade deals with China, including plans to order 200 Boeing jets, while Xi said he "likes the idea" of purchasing U.S. oil, Fox reported.However, Treasury Secretary Scott Bessent said China may not increase its purchases of U.S. soybeans beyond their existing commitments.The U.S. president also advocated for Visa's entry into China's credit card industry.In corporate news, Dongfeng Automobile (SHA:600006) grew 3% at the closing bell after parent company Dongfeng Group signed a deal with Stellantis to produce Jeep and Peugeot models in China.China Coal Energy's (SHA:601898) shares rose 4% in Shanghai despite recording declines in coal sales and production in April.