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IBF Financial Raises NT$2.78 Billion Via Private Placement

IBF Financial (TPE:2889) unit Rakuten International Commercial Bank completed a NT$2.78 billion private placement, issuing 277.9 million new shares at NT$10 each, according to a Monday Taiwan Exchange filing.The capital increase was fully subscribed by existing shareholders through the 2026 cash injection exercise.The move is part of routine capital strengthening, the company said.

TPE:2889

Asia1d ago

Chanhen Chemical's Registered Capital to Decline After Share Buyback

Guizhou Chanhen Chemical (SHE:002895) expects its registered capital to be reduced by 38,000 yuan after repurchasing and cancelling shares held by former employees, according to a Shenzhen bourse filing on Tuesday.The company will buy back 38,000 restricted shares that were owned by six employees who resigned from the company before the restricted shares became eligible for unlocking.The phosphate product manufacturer's shares dropped 6% at the close.

SHE:002895

Asia1d ago

Wuxi Rural Commercial Bank Redeems 500 Million Yuan in Perpetual Bonds

Wuxi Rural Commercial Bank (SHA:600908) exercised its conditional redemption right to fully redeem 500 million yuan in perpetual capital bonds issued June 2021.The redemption was completed June 18, according to a Tuesday filing with the Shanghai bourse.Shares of the bank closed 3% higher Tuesday.

SHA:600908

Asia1d ago

ORIX Restructures Greater China Operations Under Asia-Pacific Unit

ORIX (TYO:8591) said its Greater China Group will be integrated into its Asia-Pacific business headquarters, effective June 23, according to a same-day company statement.

TYO:8591

Asia1d ago

Chung Hwa Pulp Books NT$122 Million Loss in May; Shares Drop 9%

Chung Hwa Pulp (TPE:1905) incurred a net loss attributable to owners of NT$122 million in May, according to a Monday Taiwan Exchange filing.Shares slumped over 9% in Tuesday's midday trade.Revenue for the month rose 3.1% to NT$1.58 billion, the pulp and fine paper manufacturer said.

TPE:1905

Asia1d ago

AIMA to Transfer Unit's Factory Production After Construction of New Factories

AIMA Technology Group (SHA:603529) decided to cease and transfer the factory production of its unit, Jiangsu AIMA Vehicle Technology, according to a Shanghai bourse filing on Tuesday.The decision came after the wireless electric two-wheeler manufacturer constructed new production bases in Lishui and Taizhou in China's Zhejiang Province, which have more advantages in facilities, manufacturing processes, and quality control.The production capacity will be transferred to other wholly-owned subsidiaries, Lishui AIMA Vehicle Technology and Taizhou AIMA Motorcycle Manufacturing.The remaining assets will be sold or leased.

SHA:603529

Asia1d ago

Singtel Disposes of 2.8% Stake in Thailand's Gulf Development for SG$1 Billion

Singtel (SGX:Z74) has disposed of a 2.8% stake in Thailand energy company Gulf Development for SG$1 billion, according to a Singtel release on Tuesday.The disposal is part of the telecommunications company's asset recycling program aimed at driving growth and sustainable shareholder returns.The transaction was carried out via a private placement to institutional investment and will result in net gains of around SG$140 million in equity.The company had acquired a 7.7% stake in Gulf Development in 2025 following the amalgamation of Intouch Holdings and Gulf. The merger removed Intouch as the intermediary holding company and resulted in the creation of a new entity, Gulf Development.Following the transaction, Singtel will have a 4.95% stake in Gulf Development, valued at about S$1.8 billion.

^SETSGX:Z74

Asia1d ago

Fitch Affirms Three Thai Banks on High Support Possibility

Fitch Ratings on Tuesday affirmed the ratings of three Thailand-based banks, reflecting the high likelihood of extraordinary support from their shareholders or parents.The rating agency maintained the long-term issuer default rating of TMBThanachart Bank (BKK:TTB) at BBB, Bank of Ayudhya (BKK:BAY) at BBB+, and United Overseas Bank (Thai) at A-, among other ratings.Fitch expects a high likelihood of extraordinary support from the Thai government for TMBThanachart Bank if required, given its status as a domestic systemically important bank due to its scale and financial system connections.Bank of Ayudhya and United Overseas Bank (Thai) also have a high probability of support from their respective parents, Japan's Mitsubishi UFJ Financial Group (TYO:8306) and United Overseas Bank (SGX:U11).Bank of Ayudhya and United Overseas Bank (Thai) have an AAA(tha) national long-term rating, reflecting the lowest expectation of default risk compared to other Thai issuers, while TMBThanachart Bank has an AA+(tha) rating.

BKK:BAYBKK:TTBSGX:U11TYO:8306

Asia1d ago

Humanwell Healthcare Gets China Clinical Trial Nod for Pain Reliever

China's drug regulator approved clinical trials by Humanwell Healthcare (SHA:600079) subsidiary Yichang Humanwell for the tapentadol hydrochloride oral solution.The drug is a pain reliever for children aged 2 years and older and for adults weighing more than 16 kilograms, according to a Tuesday filing with the Shanghai bourse.

SHA:600079

Asia1d ago

China Approves Humanwell Healthcare Subsidiary's Hydrocortisone Sodium Succinate Injection

China's drug regulator approved Humanwell Healthcare (SHA:600079) subsidiary Wuhan Humanwell Pharmaceutical's drug registration for its hydrocortisone sodium succinate injection.The injection is indicated for patients with toxic infections, anaphylactic shock, severe adrenocortical conditions, severe bronchial asthma and prevention of acute graft rejection, according to a Tuesday filing with the Shanghai bourse.

SHA:600079

Asia1d ago

Daiwa Industries to Acquire Miura Denshi in Full Takeover Deal

Daiwa Industries (TYO:6459) has agreed to acquire all shares of Miura Denshi and make it a wholly owned subsidiary.The company will acquire 28,000 shares of Miura Denshi for an undisclosed price, according to a stock exchange filing on Tuesday. Deal is scheduled for completion on July 1.Miura Denshi manufactures electrolytic water generation equipment and has been a long-standing OEM partner for Daiwa Industries.

TYO:6459

Asia1d ago

Scientech's Profit Rises 17% in May

Scientech's (TPE:3583) net profit rose 17% to NT$158 million, or NT$1.97 in May, according to a Monday Taiwan Exchange filing.Meanwhile, revenue for the month edged up 1% to NT$971 million, the semiconductor manufacturer said.

TPE:3583

Asia1d ago

Market Chatter: Nissan Shelves Electric Qashqai Plans Amid Cost-Cutting, Rising Chinese Competition

Nissan (TYO:7201) has stalled all its plans to develop the fully electric version of its Qashqai sport utility vehicle, a top-selling model in Europe, as part of its cost-cutting measures, Channel News Asia reported on Tuesday, citing six sources familiar with the matter.With this, the Japanese carmaker has shelved its 2023 plan to develop the EV version at its Sunderland car plant in Britain amid growing Chinese dominance in the competitive EV car market across Europe.Nissan did not immediately respond to a request for comment from.(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.)

$NISA.FTYO:7201

Asia1d ago

Hong Kong Stocks Slide; Senior Technology Gains as HJ Science Flops in Debut

Hong Kong stocks declined on Tuesday as investors assessed the latest developments in U.S.-Iran negotiations while bracing for a more hawkish Federal Reserve.The Hang Seng Index fell 1.8%, or 432.24 points, to close at 23,336.28. The Hang Seng China Enterprises Index dropped 2.0%, or 155.38 points, to finish at 7,759.36.The United States waived sanctions on Iran for 60 days beginning Monday following an initial round of talks under a fledgling peace agreement.U.S. President Donald Trump said he would "do what I have to do" if Tehran failed to uphold its commitments.Meanwhile, traders are increasingly betting on a faster pace of monetary tightening under new Federal Reserve Chair Kevin Warsh.Markets expect the Fed to deliver a total of 50 basis points of rate hikes by year-end to combat inflation pressures, particularly from higher energy costs, Reuters reported, citing CME Group's FedWatch Tool.In corporate news, two companies made their trading debut on the Hong Kong bourse.HJ Science (HKG:6132) closed 57% lower at HK$35.26, compared with its offer price of HK$81.80.Shenzhen Senior Technology Material (HKG:6067, SHE:300568) advanced 22% to HK$11.00, versus its offer price of HK$8.98.

Hang SengHKG:6067HKG:6132SHE:300568

Asia1d ago

Survey Finds China Closing In Biotech Research With US, But Still Lacks Quality, Commercial Reach

China is conducting more clinical drug trials than the U.S., but still falls short when it comes to quality and the commercial reach of its biomedical science, according to a survey of U.S. industry and academic leaders.The poll, which was lead by the Cure Innovation Index, found that China was leading when it comes to clinical development and supply chain infrastructure.Meanwhile, the U.S. was found to have advantages in capital formation and commercialization, technology transfer and talent.Out of 117 respondents, 72% said China's biomedical sector is improving faster than the U.S., while 85% said the U.S. lead will last 10 years or less.Moreover, 74% said declining U.S. federal research funding has been the biggest threat to biomedical leadership rather than any single competitive move from China, while 76% forecasted more research and development will move outside the U.S. if the current trends continue.

Shanghai Composite^SZSE

Asia1d ago

S&P Rates Denso's US Dollar Bonds A+

S&P Global Ratings on Tuesday placed an A+ long-term issue credit rating on Denso's (TYO:6902) US dollar senior unsecured bonds.The bonds' rating is in line with the company's long-term issuer credit rating, reflecting its sufficiently low leverage that limits the likelihood of significant disadvantage for the noteholders compared to other lenders, S&P said.The bond will boost the company's financing diversification through an expanded overseas investor base, the rating agency said.The company's rating considers its major position in the global auto component market, anchored by diversified business segments and advanced technologies.S&P expects the company to further gain from economies of scale and joint research and development activities, given its close links with Toyota Motor (TYO:7203) and other group companies.

TYO:6902TYO:7203

Asia1d ago

China Autonomous Driving Company Momenta Passes Listing Hearing in Hong Kong

Chinese self-driving technology company Momenta released its post-hearing information pack Tuesday after passing its listing hearing in Hong Kong.The move brings Momenta closer to its IPO in the city.Momenta plans to use proceeds from its planned IPO to boost research and development, increase artificial intelligence computing and data storage capacity, as well as commercialization of its robotaxi services, joint marketing initiatives, and working capital, according to a near-final prospectus released the same day.Momenta secured approval for its IPO from Chinese authorities, according to a notice by the regulator on Thursday.

Hang SengShanghai Composite^SZSE

Asia1d ago

Geekplus Technology Launches HK$2 Billion Hong Kong-Listed Share Buyback; Shares Surge 6%

Beijing Geekplus Technology's (HKG:2590) is looking to buy back up to HK$2 billion of Hong Kong-listed shares, according to a Monday bourse filing.Shares of the warehouse automation services provider were up over 6% in Tuesday afternoon trading.The shares will be repurchased from the open market over a period of 24 months.

HKG:2590

Asia1d ago

CyberTAN Technology to Sell Innovation Road Factory Via Public Auction

CyberTAN Technology (TPE:3062) board has approved the disposal of its Innovation Road factory and related ancillary equipment through a public auction, according to a Monday Taiwan Exchange filing.Shares slid over 2% in Tuesday's midday trade.The company said the move is aimed at optimizing its asset structure, revitalizing idle assets and improving capital efficiency.

TPE:3062

Asia1d ago

Chinese Shares Fall on Rising Rate Cut Bets;; Jinan Shengquan Falls 10%

Chinese shares fell on Tuesday as investors turned cautious amid rising bets that the U.S. Federal Reserve will raise rates and concerns over subdued domestic consumption following a quiet "618" shopping festival.The Shanghai Composite Index, the main gauge of Chinese stocks, fell 1.4% to 4,106.25. The Shenzhen Component Index plunged 3.2% to 15,854.20.Rising bets on a Fed interest rate hike bore down on investor sentiment.Bank of America now expects rate increases of 75 basis points across September, October and December, marking a reversal from its recent forecast no change this year.Meanwhile, gross merchandise value, a measure of sales from e-commerce platforms, stood at 863.6 billion yuan during the mid-year 618 shopping festival that spanned from May 13 to June 18. The recent number was nearly flat compared with last year's ⁠855.6 billion yuan, Reuters reported.In company news, Jinan Shengquan (SHA:605589) will undertake a convertible bond offering of 2.5 billion yuan. Shares of the resin manufacturer slid 10% in recent trade.

Shanghai Composite^SZSESHA:605589

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