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Far East Horizon Posts Slight Growth in Q1 Profit

Far East Horizon (HKG:3360) said profit attributable to shareholders increased slightly in the first quarter, according to a Monday Hong Kong bourse filing.Revenue and gross profit from its financial business rose year on year, while interest-earning assets increased slightly from the end of last year.

HKG:3360

Asia162d ago

HSBC, StanChart-led JV Granted Hong Kong Stablecoin Licences

Hong Kong granted its first batch of stablecoin licences to HSBC (HKG:0005) and a joint venture led by Standard Chartered (HKG:2888) called Anchorpoint Financial, according to a statement on Friday.Both firms plan to complete the necessary preparation work to launch the business in the coming few months, according to the Hong Kong Monetary Authority."We hope [the firms'] promotion of regulated stablecoins will address pain points in financial and economic activities, create value for both individuals and businesses, and support the healthy development of digital assets in Hong Kong," HKMA Chief Executive Eddie Yue said in a statement.

Hang SengHKG:0005HKG:2888

Asia162d ago

J&T Global Express' Parcel Volume Rises 26% in Q1 2026

J&T Global Express (HKG:1519) said total parcel volume rose 26% to 8.33 billion in the first quarter of 2026 from 6.60 billion a year earlier, according to a Monday Hong Kong bourse filing.Average daily parcel volume during the quarter also increased 26% to 92.5 million from 73.3 million a year earlier.Parcel volume from Southeast Asia surged 80% to 2.77 billion, while China parcel volume rose 8.4% to 5.40 billion. Volume from other markets jumped 101% to 153.6 million parcels.

HKG:1519

Asia162d ago

Cutia Therapeutics Completes Phase 3 Trial for Botulinum Toxin Product

Cutia Therapeutics (HKG:2487) said it completed a Phase 3 clinical trial in China for its botulinum toxin type A product for treating moderate to severe glabellar lines, according to a Monday Hong Kong bourse filing.The study met primary and secondary endpoints, with efficacy comparable to Botox and a favorable safety profile.The pharmaceutical company said no treatment-related serious adverse events or new safety signals were observed.

HKG:2487

Asia162d ago

Joy Spreader Group Partners With Volcano Engine on AI Implementation

Joy Spreader Group (HKG:6988) is partnering with Beijing Volcano Engine Technology to implement artificial intelligence across its business operations, according to a Hong Kong bourse filing Monday.Under the framework, Volcano Engine Technology will provide technology services, including the Doubao large model, to Joy Spreader.The agreement shall remain in effect until March 31, 2027.

HKG:6988

Asia162d ago

South Korean Shares Open Lower on US-Iran Failed Talks

South Korean shares opened lower on Monday after the US and Iran failed to reach common ground after 21 hours of negotiations in Islamabad.US Vice President JD Vance, who led the Washington delegation, said Tehran had refused to accept Washington's terms, while Iran's Ministry of Foreign Affairs on Sunday said that it did not anticipate reaching an agreement with the US in a day.The benchmark Korea Composite Stock Price Index, or Kospi, rose 121.59 points or 2.07% to open at 5,737.28. The KOSDAQ also increased 16.78 points or 1.53% to start trading at 1,076.85.Following the failed talks, US President Donald Trump on Sunday warned on Truth Social that the US Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz. The US Navy has also been instructed to "seek and interdict" every vessel in International Waters that has paid a toll to Iran.According to Reuters, US forces would block all maritime traffic entering and exiting Iranian ports at 10 am ET on Monday.Following the news, Brent crude surged 7.98% to $102.80 a barrel after a slight loss on Friday, while U.S. WTI jumped 8.61% to $104.88, rebounding from the previous session's decline.

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Asia162d ago

Japanese Stocks Fall as Trump Vows Hormuz Blockade After Failed Iran Talks

Japanese stocks fell at the start of the trading week following the breakdown of US-Iran negotiations, amplified by Trump's vow of an immediate U.S. Navy blockade of the Strait of Hormuz.The Nikkei 225 opened lower by 502.7 points, or 0.9%, at 56,421.46.Brent crude breached the $100-mark again amid fears the US blockade would disrupt energy flows through the strategic waterway.Trump, on his social media post, declared that Washington would intercept any ship that paid Tehran for secure transit through the strait and would also remove any mines present in the waterway.Meanwhile, the U.S. Central Command stated that American forces would enforce a halt to all maritime traffic entering or departing Iranian ports starting Monday at 10 a.m. New York time.Friday's economic data revealed a sharp rise in U.S. consumer prices - the largest since 2022 - though the core inflation reading was relatively moderate, along with a decline in consumer sentiment.

Nikkei 225

Asia162d ago

Export Finance Australia, US Export-Import Bank Issue Letters of Up to $500 Million Each for Ardea's Western Australia Nickel Project

Export Finance Australia (EFA) and the US Export-Import Bank (EXIM) issued letters of support/interest of up to $500 million each for Ardea Resources' (ASX:ARL) Kalgoorlie nickel project in Western Australia after Australia's Minister for Resources and Northern Australia Madeleine King and the US Secretary of the Interior Doug Burgum agreed on priority critical minerals and rare earths projects under the two countries' bilateral Critical Minerals Framework, according to a Monday statement.The critical minerals include nickel, cobalt, gallium, magnesium, vanadium, and graphite.Other projects supported under the framework include Alcoa (ASX:AAI) Gallium recovery project in Western Australia, Arafura Rare Earths's (ASX:ARU) Nolans rare earths project in the Northern Territory, Astron's (ASX:ATR) Donald rare earths project in Victoria, Northern Minerals' (ASX:NTU) heavy rare earths project in Western Australia, VHM's (ASX:VHM) Goshen rare earths project in Victoria, and EQ Resources' (ASX:EQR) Mt Carbine tungsten project in Queensland.Ardea's shares were up over 2% in recent trading on Monday, while those of Astron rose nearly 1%. Shares of Alcoa fell 1%, Arafura fell 1%, VHM declined 5%, and those of EQ Resources decreased 9%.

ASX:AAIASX:ARLASX:ARUASX:ATRASX:EQRASX:NTUASX:VHM

Asia162d ago

Southern Cross Gold Consolidated Breaks Even in Fiscal Q3

Southern Cross Gold Consolidated (ASX:SX2) reported Monday that it broke even in the fiscal third quarter ended Feb. 28 after posting a loss of CA$0.02 in the same period a year earlier.Analysts polled by FactSet expected the company to break even.The company said it is currently in the exploration and pre-development stage and does not generate operating revenue.

ASX:SX2

Asia162d ago

Victory Giant Technology Seeks Up to HK$17.5 Billion in Hong Kong IPO

Victory Giant Technology (HKG:2476, SHE:300476) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$17.5 billion from the deal.The China-based printed circuit board manufacturer is offering 83.3 million H-shares at a maximum price of HK$209.88 per share, according to a Hong Kong bourse filing.The offering comprises 8.3 million shares for Hong Kong investors and 75 million shares for international investors, subject to reallocation, the offer size adjustment option, and the overallotment option.The offer price is expected to be determined by April 17, with allocation results due by April 20, ahead of the company's planned trading debut on April 21.Net proceeds will be used mainly to expand production capacity in mainland China, including investments in smart manufacturing equipment and automation to improve efficiency and market reach.The funds will also support product diversification in advanced PCB technologies, research and development, and provide for working capital and general corporate purposes.J.P. Morgan Securities (Far East), China Securities (International) Corporate Finance, and GF Capital (Hong Kong) are acting as joint sponsors.J.P. Morgan Securities (Asia Pacific), China Securities (International) Corporate Finance, and GF Securities (Hong Kong) Brokerage are serving as sponsor-overall coordinators, overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers.ABCI Capital and China International Capital Corporation Hong Kong Securities are also acting as joint global coordinators, joint bookrunners, and joint lead managers, while Huatai Financial Holdings (Hong Kong) is serving as a joint lead manager.

HKG:2476SHE:300476

Asia162d ago

Horizon Construction Expects Slimmer Loss in Q1, 5% Revenue Drop

Horizon Construction Development (HKG:9930) expects to have booked a narrower attributable loss for the first quarter of 2026 versus a year earlier, and for revenue to have dropped 5% year on year, according to a Hong Kong bourse filing Monday.The firm said it recorded a customary seasonal loss primarily due to subdued activities as a result of the long holiday period for the Chinese New Year.

HKG:9930

Asia162d ago

Ventia Services Group Says Macquarie Ceases to Be Substantial Holder

Ventia Services Group (ASX:VNT, NZE:VNT) said Macquarie Group (ASX:MQG) and its controlled entities have ceased to be a substantial holder in the company on April 7, according to a Monday Australian bourse filing.The company's New Zealand and Australian shares fell 1% each in recent Monday trade.

ASX:MQGASX:VNTNZE:VNT

Asia162d ago

Trump Declares Immediate U.S. Navy Blockade of Hormuz After Iran Talks Fail

U.S. President Donald Trump warned on social media that the U.S. Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz after a failed talk with Tehran.Trump said in a Truth Social post on Sunday that while the goal is eventually to reach an "all being allowed to go in, all being allowed to go out" arrangement, Iran has prevented this by citing vague concerns about undisclosed mines."Iran has not allowed that to happen by merely saying, 'There may be a mine out there somewhere,' that nobody knows about but them," Trump wrote.Trump further directed the Navy to intercept any vessel in international waters that has paid a toll to Iran while also ordering the destruction of mines allegedly laid by Iran in the strait and warning that any Iranian attack on U.S. or peaceful vessels would result in them being "BLOWN TO HELL."Meanwhile, Reuters News, citing the U.S. Central Command, reported that the blockade of all maritime traffic to and from Iranian ports is set to begin at 10 a.m. ET on Monday.The command clarified that freedom of navigation would remain unaffected for ships transiting the strait to non-Iranian ports, with formal notices to be issued to commercial mariners beforehand, the newswire said.

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Asia162d ago

Vulcan Energy Says German State Grants Five-Year Lithium Production Royalty Exemption

Vulcan Energy Resources (ASX:VUL) said Germany's State of Rhineland-Palatinate, where the firm's planned Lionheart upstream lithium and geothermal energy production facilities are located, granted a royalty exemption for lithium production in the state for an initial five years until Dec. 31, 2030, according to a Monday Australian bourse filing.The exemption includes a review mechanism one year before the Dec. 31, 2030, deadline.

ASX:VUL

Asia162d ago

Market Chatter: SoftBank Introduces AI Company with NEC, Honda, Sony as Investors

SoftBank Group (TYO:9984) has launched a new company focused on developing artificial intelligence in Japan, with investments from NEC (TYO:6701), Honda Motor (TYO:7267), and six other firms, Nikkei Asia reported on Monday.The Japanese government is evaluating potential support for the initiative. The venture aims to create a foundational model for "physical AI" to enable autonomous control of robots and machinery through a collaborative public-private effort, the news daily said.Additional investors include Sony Group (TYO:6758), Mitsubishi UFJ Financial's (TYO:8306) MUFG Bank, Sumitomo Mitsui Banking Corp. (TYO:8316), Mizuho Bank (TYO:8411), Nippon Steel (TYO:5401), Kobe Steel (TYO:5406), and AI developer Preferred Networks will also assist in building the model.Softbank Group did not reply to MTNewswire queries at press time.(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.)

TYO:5401TYO:5406TYO:6701TYO:6758TYO:7267TYO:8306TYO:8316TYO:8411TYO:9984

Asia162d ago

Black Cat Syndicate Transitions Western Australia Facility to Process Ore From Two Owned Mines, Plans AU$20 Million Capacity Expansion

Black Cat Syndicate (ASX:BC8) said its Lakewood Processing Facility at its Kal East Gold Operation in Western Australia successfully transitioned to processing ore from its Fingals open pit and Majestic underground mines, according to a Monday Australian bourse filing.The company said Fingals and Majestic, also located in Western Australia, continue to ramp up successfully, with a stockpile of about 183,000 tonnes of ore now available for processing, with Lakewood's throughput, recoveries, and reagent usage in line with or better than expectations.Over the next 12 months, Black Cat will invest AU$20 million of operating cashflow to expand Lakewood's processing capacity to 1.5 million tonnes per year from 1.2 million tonnes, with the company anticipating additional stockpiles will create optionality to sequence higher-grade ore through Lakewood as required, the filing added.The company said it is not currently experiencing any supply issues with diesel and fuel, while a new bulk fuel supply agreement has been executed to provide sufficient diesel over the long term.Black Cat Syndicate's shares fell 4% in recent Monday trade.

ASX:BC8

Asia162d ago

Treasury Wine Estates Renews Consultancy Deals With Frank Family Vineyards Founders

Treasury Wine Estates (ASX:TWE) has renewed its consultancy agreements with Leslie and Rich Frank, the founders and former owners of Frank Family Vineyards, for one year with no changes to the terms, according to a Monday filing with the Australian bourse.Treasury Wine Estates entered into the consultancy agreements when it acquired Frank Family Vineyards in 2021.Shares of the company were down 1% in recent Monday trading.

ASX:TWE

Asia162d ago

Pro Medicus Unit Secures AU$37 Million Contract Renewal With Illinois Health System

Pro Medicus' (ASX:PME) Visage Imaging subsidiary signed a five-year contract renewal worth AU$37 million with Northwestern Medicine, an academic health system based in Illinois, according to a Monday filing with the Australian bourse.

ASX:PME

Asia162d ago

Brambles Says Court Returned Mixed Verdict in Class Action Over Guidance Disclosures

Brambles (ASX:BXB) said Australia's Federal Court on April 10 dismissed several claims and upheld others in a class action filed by certain shareholders who alleged the company made misleading guidance disclosures to the market between August 2016 and February 2017, according to a Monday filing with the Australian bourse.The court dismissed all claims related to medium-term targets for fiscal 2019, and also dismissed several claims related to Brambles' fiscal 2017 guidance, per the filing.However, in relation to the fiscal 2017 guidance, the court upheld claims related to underlying profit growth forecasts made between Nov. 16, 2016, and Dec. 21, 2016, as well as the claims related to underlying profit growth and sales revenue growth targets issued between Dec. 21, 2016, and Jan. 23, 2017.Brambles, which has insurance arrangements in place, is reviewing the decision and evaluating its options. The company said the amount of potential damages is currently uncertain.Shares of Brambles were down 1% in recent Monday trading.

ASX:BXB

Asia162d ago

Magnetic Resources Lodges Draft Scheme Booklet With ASIC for Genesis Minerals Deal

Magnetic Resources (ASX:MAU) said it has lodged a draft scheme booklet with the Australian Securities and Investments Commission (ASIC) and ASX for review, containing an independent expert's report for its proposed scheme of arrangement under which it will be acquired by Genesis Minerals (ASX:GMD), according to a Monday Australian bourse filing.The company said the scheme booklet is expected to be made available to shareholders in early May, with an updated scheme timetable to be provided following the first court hearing scheduled for April 28.The company said its board continues to consider the scheme to be in the best interests of shareholders and recommends it be approved at the scheme meeting, in the absence of a superior proposal and subject to the independent expert concluding the scheme remains in shareholders' best interests.

ASX:GMDASX:MAU

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