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Market Chatter: Two South Korea-Operated Ships Transit Strait of Hormuz After Ceasefire

Two vessels operated by South Korean firms have passed through the Strait of Hormuz since the U.S. and Iran signed a ceasefire deal last week, Reuters reported Monday, citing the East Asian nation's Ministry of Oceans and Fisheries.The ships are not carrying South Korean crew and are not bound for the country, but have yet to fully clear the high-risk zone, the ministry said, according to the report.As of Monday, 22 South Korean-operated vessels remained in the critical waterway, Reuters 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.)

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Asia11d ago

MicroPort MedBot's Toumai Remote Surgical Robot Gets EU Approval

Shanghai MicroPort MedBot (Group) (HKG:2252) said its remote Toumai laparoscopic surgical robot was approved in the EU, according to a Monday filing with the Hong Kong bourse.The firm said its product was the first remote surgical robot to obtain the EU's CE mark.

HKG:2252

Asia11d ago

Larsen & Toubro Forms New Step-Down Subsidiary for AI Infrastructure, Technology Services

Infrastructure and engineering major Larsen & Toubro (NSE:LT, BOM:500510) has incorporated a step-down subsidiary named LTN Compute, according to a filing to the Indian stock exchanges on Sunday.Vyoma.AI, a wholly owned subsidiary of the company, owns 100% of the new entity.LTN Compute has been formed to establish an AI compute infrastructure and provide technology-enabled services.

BOM:500510NSE:LT

Asia11d ago

Etherstack Signs $830,000 Follow-On Deal With Codan Unit for Digital Radio Technology; Shares Up 7%

Etherstack (ASX:ESK) said its North American unit Etherstack Inc. has signed a follow-on $830,000 deal to supply further digital radio communications technology to Daniels Electronics, a unit of Codan (ASX:CDA), according to a Monday Australian bourse filing.The company said the latest order follows on from a previous $2.3 million deal announced in December 2023, with hardware components manufactured by Etherstack in Australia.Etherstack management expects the follow-on revenue to be fully recognized in the current financial year ending Dec. 31, 2026, with equipment sales of this type typically providing for additional long-term support revenues, the filing added.Management expects first half revenue ending June 30, 2026 to meet or exceed previously provided guidance, with an update to follow post the end of the half-year period, it added.Etherstack's shares rose almost 7% in recent Monday trade, while Codan's shares shed about 1%.

ASX:CDAASX:ESK

Asia11d ago

Amaero International Implements Schemes for Delaware Re-Domiciliation

Amaero International (ASX:3DA) said the schemes of arrangement for Amaero US HoldCo to become its new parent company and re-domicile the firm in Delaware have been implemented, according to a Monday filing with the Australian bourse.The share scheme consideration was issued to eligible Amaero shareholders in the form of Amaero CHESS Depositary Interests, which are expected to start trading on ASX on a normal settlement basis on Tuesday under the ASX code "3DA."

ASX:3DA

Asia11d ago

Aurobindo Pharma Arm Gets US Federal Trade Commission's Nod for $250 Million Lannett Acquisition

Aurobindo Pharma's (NSE:AUROPHARMA, BOM:524804) wholly owned U.S.-based subsidiary has received approval from the U.S. Federal Trade Commission for the $250-million deal to acquire Lannett Company, according to a Monay filing to the Indian stock exchanges.The transaction is expected to close before the end of June.US-based Lannett specializes in the development and commercialization of complex, non-opioid controlled substances. Its acquisition is expected to expand Aurobindo USA's product offering.It will also add Lannett's manufacturing facility in the U.S. to its network. The unit has the capacity to scale production to around 4 billion doses annually.The acquisition is expected to be immediately accretive to Aurobindo Group's earnings per share and offer near-term financial benefits, along with cost and operational efficiencies.

BOM:524804NSE:AUROPHARMA

Asia11d ago

Antengene Licenses ATG-106 to K2 Therapeutics in Potential $981 Million Deal

Antengene (HKG:6996) granted K2 Therapeutics rights outside Greater China to develop and commercialize ATG-106, a preclinical CDH6 x CD3 bispecific T-cell engager for solid tumors, according to a Monday Hong Kong bourse filing.The agreement entitles Antengene to about $20 million in upfront and near-term consideration, consisting of cash and a minority equity stake in a K2 subsidiary.The company is also eligible to receive up to $960.5 million in development, regulatory, and sales milestone payments, plus royalties on future net sales.Separately, K2 obtained an option to license an undisclosed preclinical bispecific T-cell engager candidate from Antengene.If exercised, the arrangement would provide Antengene with the upfront payment and near-term payments, up to $960.5 million in milestone payments, and royalties on future sales.

HKG:6996

Asia11d ago

Fortescue Charters Up to 12 Ammonia-Capable Vessels From CMB.TECH's Bocimar

Fortescue (ASX:FMG) and CMB.TECH signed an agreement for the charter of up to 12 ammonia-capable vessels, marking a step towards decarbonizing global shipping and advancing the adoption of ammonia as a shipping fuel, according to a Monday statement by Fortescue.The company said it will charter a fleet of 12 Newcastlemax dry bulk vessels at 210,000 deadweight tonnes from Bocimar, CMB.TECH's dry bulk shipping operator, with up to three vessels to be delivered with dual-fuel ammonia engines expected to enter service by the end of the year.The remaining nine vessels will be ammonia-ready and can be converted to run on ammonia in the future, with the combined fleet able to reduce carbon dioxide emissions by about 250,000 tonnes per year if fueled by green ammonia, compared with conventional marine fuels, it added.The company's shares fell 1% in recent Monday trade.

ASX:FMG

Asia11d ago

Sinolink Securities Redeems 1 Billion Yuan Worth of Bonds

Sinolink Securities (SHA:600109) redeemed 1.01 billion yuan worth of bonds, according to a Monday filing with the Shanghai bourse.The debt securities had a coupon rate of 1.7% and a term of 217 days.Shares rose 2% during morning trading on Monday.

SHA:600109

Asia11d ago

PowerX Lands 1.7 Billion Yen Battery Order for Vietnam, Marking First Overseas Export

PowerX (TYO:485A) has secured its first international order, a 1.7 billion yen large-scale battery storage system for Vietnam, placed by Toyota Tsusho Group (TYO:8015) member Elematec (TYO:2715).The PowerX Mega Power 2700 units will contribute to regional grid stability and energy security, with revenue expected in the latter half of the year, according to a Tokyo bourse filing on Friday.While the order was not included in the previously disclosed 2.2 billion yen pipeline, the company maintains its existing earnings forecast for now.

TYO:2715TYO:485ATYO:8015

Asia11d ago

Charter Hall Group Sets Higher Dividend Distribution for Fiscal 2026

Charter Hall Group (ASX:CHC) declared a dividend of AU$0.2584 per security for the half year through June, payable Aug. 31 to shareholders of record as of June 30, according to a Monday filing with the Australian bourse.The company said its total distribution for the year ending June 30 will be AU$0.5067 per security, representing a 6% increase on the prior year's distribution of AU$0.4780.Charter Hall shares fell nearly 2% in recent Monday trade.

ASX:CHC

Asia11d ago

FJ Benjamin Plans Private Placement; Shares Jump 13%

FJ Benjamin (SGX:F10) expects to raise around SG$302,400 via the placement of 42 million shares at SG$0.0072 each to two investors, according to a Monday filing with the Singapore Exchange.Proceeds will be directed towards working capital.Shares of the luxury products retailer surged nearly 13% in Monday trading.

SGX:F10

Asia11d ago

Reclaims Global Bags SG$10 Million Worth of Contracts

Reclaims Global (SGX:NEX) won SG$9.6 million worth of contracts to supply labor and machinery for earthworks, according to a Monday filing with the Singapore Exchange.The contracts, secured through subsidiary Reclaims Enterprise, are linked to a project at Hillview and another one along the Telok Blangah Road.The projects are expected to be completed by January 2028.

SGX:NEX

Asia11d ago

IDP Education Faces Ongoing Student Placement Headwinds But Earnings Remain Resilient, Jefferies Says

IDP Education (ASX:IEL) is expected to deliver relatively stable earnings despite continued pressure on student placement revenue, supported by cost discipline, resilient International English Language Testing System (IELTS) operations, and a planned fiscal year 2027 share buyback, Jefferies said in a June 19 note.Jefferies said earnings remain more resilient than revenue, with stronger cost discipline supporting fiscal year 2026 adjusted earnings before interest and taxes margins and expected net cost reductions rising to about AU$30 million from AU$25 million, helping offset ongoing top-line pressure.The firm expects medium-term earnings support from the AU$50 million fiscal year 2027 buyback and digitalization-driven cost savings, with fiscal year 2025 digital investments further aiding cost reductions over time.The firm believes student placement weakness will persist in the near term, while revenue may recover modestly on resilient yields and IELTS expansion in China, with limited visibility beyond fiscal year 2026.The firm cut fiscal year 2026 to fiscal year 2028 revenue forecasts by 2% to 13% due to weaker sentiment in student placement markets. Fiscal year 2026 earnings were raised 48%, while fiscal year 2027 to fiscal year 2028 estimates were reduced 17% to 29% amid limited growth visibility.Jefferies maintained a buy rating on IDP Education while lowering the price target to AU$3.30 from AU$7.80.

ASX:IEL

Asia11d ago

Dazhong Mining Sells Iron Ore Concentrator for RMB 90 Million

Inner Mongolia Dazhong Mining (SHE:001203) agreed to sell its Dongwufenzi iron ore concentrator and related surface assets to related party Taixiangxiang Mining for 90.2 million yuan.The decision follows declines in processing volume and capacity utilization as well as higher raw ore processing cost, according to a Monday filing with the Shenzhen bourse.The company also determined it is cheaper to transport ore 16 kilometers to its upgraded Shujigou facility for centralized processing.Shares of the miner were down 2% in recent trade.

SHE:001203

Asia11d ago

Market Chatter: Great Eastern Targeting High Net Worth Clients

Great Eastern (SGX:G07) has launched Great Eastern Private, a segment which aims to tap high net worth individuals, according to group chief executive officer, Greg Hingston, as reported by The Business Times on Monday.The segment will be backed by Oversea-Chinese Banking Corp. or OCBC and Great Eastern's private banking unit, Bank of Singapore, the report added.The insurer will utilize an on-site medical suite at the Hewton fair Suite to allow wealthy clients to be underwritten in a single day, the report said.Backed by the strategy, the insurer booked a profit of SG$1.2 billion in 2025, with total weighted new sales dropping 15%, the report noted.(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.)

SGX:G07

Asia11d ago

Jinshang Bank to Invest 730 Million Yuan in Jinshang Consumer Finance

Jinshang Bank (HKG:2558) agreed to invest 730 million yuan in Jinshang Consumer Finance to bump its stake from 40% to 70%, according to a Monday filing with the Hong Kong bourse.The capital injection will result in Jinshang Consumer Finance becoming a subsidiary of the bank, with its financial results consolidated in the group's overall statements.Jinshang Consumer Finance, which is also known as Jinshang Xiaojin, holds a nationwide consumer finance license.Jinshang Bank said the acquisition will help expand its business scope and customer base.

HKG:2558

Asia11d ago

Unico Silver Continues to Receive 'Strong' Gold-Silver Results at Argentina Project

Unico Silver (ASX:USL) continued to receive "strong" gold-silver intercepts during its ongoing drill program at its Joaquin project in Argentina, extending mineralization beyond the current mineral resource, according to a Monday filing with the Australian bourse.Results from 46 drill holes totaling 6,631 meters completed to date include 52 meters at 378 grams per tonne silver equivalent at the La Morocha Southeast discovery, the filing said.Infill drilling at Breccia Puntudo confirmed high-grade gold mineralization, which supports the conversion of inferred mineral resources to indicated mineral resources.Also, extensional drilling at La Negra Southeast continued to return wide zones of oxide gold-silver mineralization along strike and below the known mineral resource, per the filing.Shares rose 1% in afternoon trade on Monday.

ASX:USL

Asia11d ago

IRay Technology to Undertake Mandatory Bond Redemption

IRay Technology (SHA:688301) on July 6 will undertake the mandatory redemption of convertible bonds after the stock triggered early redemption conditions.The last trading day is June 30, with a final conversion date of July 3, according to a Monday filing with the Shenzhen bourse.The company urged bondholders to convert at 81.43 yuan per share or sell within the prescribed period to avoid potential investment losses.Shares of the X-ray system components manufacturer were down 4% in recent trade.

SHA:688301

Asia11d ago

Market Chatter: Singapore Dollar Poised to Strengthen Against US Dollar in H2

The Singapore dollar is expected to strengthen against the U.S. dollar during the second half of the year, Bloomberg News reported on Monday.According to strategists' estimates, the currency is expected to end the year at 1.26 against the US dollar, representing a gain of around 2.4%, the report said.Meanwhile, the Australia & New Zealand Banking Group is expecting the Monetary Authority of Singapore to further tighten, which could strengthen the dollar to 1.2550 by the end of the year, the report noted.(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.)

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