Zhejiang Hengtong Holding (SHA:600226) shareholder Jinan Taixiang Investment Partnership will offload its 5.24% stake in the listed company and sell its stake to an individual for more than 880 million yuan.
The stake, equivalent to 155.8 million shares, will be sold at 5.65 yuan apiece.
Shares closed 10% higher on Thursday.
Xingtong Shipping's (SHA:603209) subsidiary, Xingtong Investment (Singapore), signed four shipbuilding contracts amounting to 697.3 million yuan, according to a Shanghai bourse filing on Thursday.The Chinese shipping company agreed to construct four 13,000-deadweight-tonnage stainless steel chemical tankers for Taizhou Maple Shipbuilding, Taizhou Kouan Shipbuilding and Jiangxi Xinjiangzhou Shipbuilding Heavy Industry.The ships will be delivered between Dec. 30, 2027, and June 10, 2028.
Japanese shares shed the gains of the earlier session to close lower on Thursday as renewed tensions between the US and Iran dampened investor sentiment.The Nikkei 225 index closed down 931.45 points, or 1.4%, at 67,470.69.Media reports indicate overnight renewed attacks by the US and Iran, which also involved Kuwait and Bahrain. This is seen as the biggest escalation since a ceasefire took effect in early April. These developments are seen as a threat to the ongoing negotiations between the US and Iran over extending the truce and reopening the Strait of Hormuz.On the domestic front, Japan's central bank is considering raising the country's policy rate by 0.25% to 1% at its upcoming meeting later this month, Bloomberg reported Thursday, citing sources.Media reports also quoted Bank of Japan Governor Kazuo Ueda as saying that a rate hike this month is likely if inflation risks outweigh potential economic harm from the Middle East crisis.On the corporate side, Sumitomo (TYO:8053) signed a deal with U.S. decarbonization startup Graphyte to set up a joint venture for a carbon dioxide removal (CDR) business, according to a Thursday release.Also, Mitsubishi Electric (TYO:6503) is set to begin shipping samples of two new types of fifth-generation silicon carbide metal-oxide-semiconductor field-effect transistors (SiC-MOSFETs) in bare die form in late June.
Tata Consultancy Services (NSE:TCS, BOM:532540) partnered with Nokian Tyres to expand the use of artificial intelligence across the Finnish tiremaker's IT operations, according to an Indian bourse filing on Thursday.Under the agreement, TCS will provide application management, development and support services across Nokian Tyres' technology landscape. The services will cover functions including engineering, manufacturing, supply chain, commercial operations and corporate services.The partnership aims to improve the efficiency, scalability and resilience of Nokian's IT operations through AI-driven automation, data-led services and enhanced IT support capabilities, the companies said.