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Chongqing Iron & Steel Gets Shanghai Bourse's Nod for Share Placement Plan; Shares Down 4%

Chongqing Iron & Steel (SHE:601005, HKG:1053) received approval from the Shanghai Stock Exchange to place shares, according to a Shanghai bourse filing on Tuesday.The steel company's Hong Kong shares dropped 4% and Shenzhen shares fell 2% during the morning trade.

HKG:1053SHE:601005

Asia19d ago

Yantai North Andre Juice Eyes Control of Yongqiang Technology

Yantai North Andre Juice (HKG:2218, SHA:605198) entered into an equity transfer framework agreement to acquire control of Ningbo Yongqiang Technology, according to a Monday Hong Kong bourse filing.Under the agreement, shareholders of Yongqiang Technology intend to transfer part of their equity interests in the company to Yantai North Andre Juice.The specific stake, transaction consideration, and payment method will be determined in a formal acquisition agreement.The company said the potential acquisition is expected to be valued at about 600 million yuan to 800 million yuan.Yongqiang Technology is engaged in electronic materials research and development, integrated circuit chip design, and related technology services.

HKG:2218SHA:605198

Asia19d ago

Alcoa Shares Slide After Ratification of US Labor Agreement With United Steelworkers Union

Alcoa (ASX:AAI) shares fell more than 7% in recent Tuesday trade after the company late Monday disclosed the ratification of a new labor agreement with the United Steelworkers union.The agreement is effective from May 16 this year through May 15, 2030, and covers about 965 employees at the company's Warrick operations in Indiana and Massena operations in New York.The labor deal was ratified by a "wide margin" in a vote by union membership, the company said.

ASX:AAI

Asia19d ago

Kingworld Medicines Unit Terminates MoU for Proposed Acquisition

Kingworld Medicines Group (HKG:1110) unit Kingworld Medicine and Healthcare Group terminated a memorandum of understanding related to the proposed acquisition of the entire issued share capital of a target company, according to a Monday Hong Kong bourse filing.The unit had entered into an understanding with the intended vendor and guarantors in January.Following the termination, Kingworld Medicine and Healthcare Group requested the return of a HK$3.3 million deposit within five business days from June 15.Kingworld Medicines said the termination is not expected to have any material adverse effect on the group's financial position or operations.

HKG:1110

Asia19d ago

Air China's Passenger Capacity Falls in May

Air China's (SHA:601111, HKG:0753) available seat kilometers, which measure passenger capacity, fell 6.4% year on year in May, according to a Hong Kong bourse filing on Monday.Revenue passenger kilometers, an indicator for combined passenger traffic, decreased 2.7% from a year earlier during the month.Cargo capacity, measured through available freight tonne kilometers, declined 5.4% from a year earlier.Cargo and mail traffic, measured through revenue freight tonne kilometers, increased 1.6% from a year earlier.The airline added six A320 aircraft and one B737 plane in May while retiring one A320, bringing its fleet size to 971 aircraft at month-end.

HKG:0753SHA:601111

Asia19d ago

Ride-Hailing Platform Go Jumps 21% in Tokyo Trading Debut

Go (TYO:581A) shares surged 21% on their Tokyo Stock Exchange debut Tuesday, trading at 2,910 yen above the IPO price of 2,400 yen.The ride-hailing firm, backed by Goldman Sachs, raised 88.6 billion yen, giving it a market value of 186 billion yen.DeNA saw its voting rights in Go drop from 25.75% to 4.99% following the Tokyo Stock Exchange listing, losing its status as a parent company, major shareholder, and largest shareholder.NTT's (TYO:9432) NTT Docomo also fell below the major shareholder threshold, with its voting rights decreasing from 18.28% to 3.66%.Goldman Sachs is the joint global coordinator and lead underwriter for the IPO.

TYO:581ATYO:9432

Asia19d ago

China Southern Airlines' Passenger Capacity Falls 2.9% in May

China Southern Airlines (SHA:600029, HKG:1055) passenger capacity fell 2.9% year over year to 29.9 billion available seat kilometers in May, according to a Monday filing with the Hong Kong bourse.Passengers carried declined 8.4% to 13 million in the month.Cargo capacity decreased 2.4% to 1.53 billion available tonne-kilometers, the airline said in its filing.Cargo and mail carried fell 5.5% to 160,470 tonnes.

HKG:1055SHA:600029

Asia19d ago

Racura Oncology Raises AU$34 Million to Fund Three Clinical Trials; Shares Up 3%

Racura Oncology (ASX:RAC) raised AU$34.3 million in total to fund three RC220 clinical trials in acute myeloid leukemia, epidermal growth factor receptor mutant lung cancer, and chemotherapy-related cardio-protection in solid tumor patients, according to a Tuesday filing with the Australian bourse.RC220 is the company's formulation of (E,E)-bisantrene, a small molecule anti-cancer agent, the filing said.The company has raised the funds since June 2024 through bonus and piggyback option conversions, private placements, and option underwriting, per the filing.Shares rose 3% in afternoon trade on Tuesday.

ASX:RAC

Asia19d ago

Yida China Logs 35 Million Yuan in May Contracted Sales

Yida China (HKG:3639) recorded contracted sales of 35 million yuan in May, with a gross floor area (GFA) of 2,788 square meters, according to a Monday Hong Kong bourse filing.The average selling price for the month was about 12,622 yuan per square meter.For the five months ended May 31, contracted sales and GFA reached roughly 185 million yuan and 14,225 square meters, respectively, with an average selling price of 13,023 yuan per square meter.

HKG:3639

Asia19d ago

Market Chatter: Hong Kong Insurance Regulator Warns of Action Over Rule Evasion

Hong Kong's insurance regulator is stepping up oversight and preparing to take action against companies that circumvent restrictions on broker commissions and policy return assumptions introduced last year, Bloomberg News reported Monday, citing the Insurance Authority's Chief Executive, Clement Cheung.The regulator has detected signs that some firms are attempting to sidestep the tighter rules, which were designed to curb unrealistic return projections, unsuitable sales practices, and excessive commissions, according to the report.Cheung indicated enforcement measures could follow, saying the authority had monitored the market for some time and identified warning signs, Bloomberg News 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.)

Hang Seng

Asia19d ago

Sugi's All-Store Net Sales Up 9.3% in May

Sugi's (TYO:7649) all-store net sales rose 9.3% in May, according to a filing on the Tokyo Stock Exchange on Monday.The Sugi drugstore business at all stores grew by 10.3% and the prescription segment gained 6.7% during the month under review.On an existing store basis, net total sales gained 6.4%.Existing store sales of the Sugi drugstore increased by 6.6% and prescription climbed 5.8%.At the end of December, the Sugi Group opened nine new stores and closed five existing stores, bringing the total number of stores to 2,343.

TYO:7649

Asia19d ago

Market Chatter: India's REITs, InvITs May See Up to INR11.6 Trillion Inflows by 2030

India's real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) could attract up to 11.6 trillion rupees in inflows by 2030, driven by mutual funds, insurers and pension funds, Moneycontrol reported Tuesday, citing Avendus Capital.The brokerage said stronger liquidity, supportive regulation and rising investor familiarity with income-generating assets could support the sector, according to the report.(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.)

^BSE^NSE

Asia19d ago

Trek Metals Launches Maiden RC Drilling at Western Australia Project; Shares Up 13%

Trek Metals (ASX:TKM) began a maiden reverse circulation (RC) drilling program at the Kuro manganese discovery in Western Australia, marking the first subsurface test of manganese mineralization beneath surface outcrops, according to a Tuesday filing with the Australian bourse.The drilling campaign will focus on several sites within and adjacent to the known manganese mineralization, in addition to selected high-priority geophysical anomalies, per the filing.The company is also advancing geophysical surveys, including induced polarization and expanded ground gravity work, partly funded through the Western Australian Government's exploration incentive scheme, the filing said.The company said drill targets will be refined as new geophysical data is received, with the program aimed at assessing the scale and potential of the Kuro discovery, the filing added.The company's shares rose 13% in recent Tuesday trade.

ASX:TKM

Asia19d ago

Wah Wo Holdings Warns of Swing to Full-Year Loss

Wah Wo Holdings Group (HKG:9938) said it expects to record a pre-tax loss of at least HK$1.8 million for the fiscal year ended March 31, reversing a pre-tax profit of HK$24 million a year earlier, according to a Monday filing with the Hong Kong bourse.The firm attributed the expected loss to a number of factors, including a rise in expenses and losses on investment properties.The company's financial results are due June 29.

HKG:9938

Asia19d ago

Market Chatter: China Evergrande's Liquidators to Challenge HK Regulator's HK$1 Billion Compensation Deal With PwC

China Evergrande's (HKG:3333) liquidators on Friday filed a court writ in Hong Kong seeking to challenge the city's market regulator over its settlement agreement with PricewaterhouseCoopers Hong Kong, the South China Morning Post reported Monday.The court-appointed liquidators are seeking leave to apply for a judicial review of the Securities and Futures Commission's April agreement with PwC Hong Kong to pay HK$1 billion in compensation to Evergrande's minority shareholders.The liquidators argued that the agreement leaves China Evergrande's creditors HK$1 billion worse off and are seeking to prevent the city's regulator from implementing the settlement.(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.)

HKG:3333

Asia19d ago

Barton Gold Expands Second-Phase Upgrade Drilling at South Australia Project

Barton Gold (ASX:BGD) expanded its second-phase upgrade drilling at the Tunkillia project in South Australia, following interim analysis of reverse circulation drilling assays published to date, according to a Tuesday filing with the Australian bourse.The analysis identified potential to extend total mineralization at the project, upgrade mineral resources within the May 2025 optimized scoping study pit outlines, and increase the grade profile and classification of starter pit mineralization, the filing said.Other work programs remain on schedule for target completion of a pre-feasibility study before the end of the year, per the filing.Shares fell 2% in midday trade on Tuesday.

ASX:BGD

Asia19d ago

Sunshine Metals Starts Magnetic, Radiometric Survey at Queensland Project; Shares Down 3%

Sunshine Metals (ASX:SHN) started a helicopter-borne magnetic and radiometric survey at its Sybil project in Queensland, according to a Tuesday filing with the Australian bourse.The survey will cover priority prospect areas, including Francis Creek, Francis Creek East, Blue Range, and Quartz Ridge, the filing said.The survey will aid in defining the project's stratigraphic and structural architecture and forms part of the company's broader exploration and development activities across the Ravenswood Consolidated Project, per the filing.Shares fell past 3% in midday trade Tuesday.

ASX:SHN

Asia19d ago

Market Chatter: Luxshare Precision Industry Eyes Up to $3 Billion in Hong Kong Listing

Luxshare Precision Industry (SHE:002475) is expected to launch its Hong Kong initial public offering as early as next month, seeking to raise up to $3 billion, The Standard reported, citing IFR.The Shenzhen-listed company said last week that it had applied to issue overseas-listed foreign shares and list them on the main board of the Hong Kong Stock Exchange.It has also reportedly received approval from the China Securities Regulatory Commission for the proposed offering.Luxshare plans to issue no more than 441 million overseas-listed ordinary shares in the offering, according to the report.(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.)

SHE:002475

Asia19d ago

Daqo New Energy Completes Business License Update; Adjusts Articles of Association

Xinjiang Daqo New Energy (SHA:688303) completed industrial and commercial registration changes and received an updated business license.The company abolished its supervisory board and now places audit committee functions within the board of directors, according to a Tuesday filing with the Shanghai bourse.Shares of the polysilicon materials manufacturer were down 1% in recent trade.

SHA:688303

Asia19d ago

Nyrada Says Phase 2a Trial of Heart Attack Drug Candidate on Track for 2027 Completion

Nyrada (ASX:NYR) said its phase 2a clinical trial evaluating the safety and preliminary efficacy of Xolatryp in heart attack patients remains on track for completion in 2027, according to a Tuesday filing with the Australian bourse.The trial is designed to assess the safety and preliminary efficacy of the drug candidate in reducing heart tissue damage and improving heart function in patients who are suffering a heart attack.Nyrada said Royal Hobart Hospital has withdrawn from the trial due to local resourcing constraints, but the company has selected Royal Perth Hospital to participate, and two additional sites are nearing activation, per the filing.Nyrada is targeting the submission of an investigational new drug application to the US Food and Drug Administration in the second half of the year.The company's shares rose 2% in recent Tuesday trade.

ASX:NYR

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