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Fitch Affirms NTPC's BBB- Rating, Keeps Outlook Stable

Fitch Ratings has affirmed NTPC's (NSE:NTPC, BOM:532555) long-term foreign- and local-currency issuer default ratings (IDRs) at BBB-, according to a statement issued on Thursday.The ratings agency has also kept the outlook for the state-owned power producer at stable.The agency has also affirmed the BBB- ratings on the company's $6 billion medium-term note program and the notes issued under the program."NTPC's Standalone Credit Profile (SCP) of 'bbb' is underpinned by its regulated business model that enjoys high revenue and profit visibility as long as its plants are available, irrespective of actual off-take and fuel price fluctuations," Fitch said.

BOM:532555NSE:NTPC

Asia25d ago

Santos, Karoon Energy Shares Slide as Oil Price Hits Two-Month Low

Santos (ASX:STO) shares fell over 1% in recent Friday trade, while Karoon Energy (ASX:KAR) shed nearly 3%, as the price of oil hit a two-month low after US President Donald Trump canceled plans to strike Iran.Brent crude futures were down 1.3%, and WTI crude declined 1.4%, both sitting below the $90 per barrel mark.In a social media post, Trump said he called off strikes on Iran because discussions between the two sides have progressed, creating hope for a peace deal to end the conflict.

ASX:KARASX:STO

Asia25d ago

Market Chatter: Nissan Targets 30-Month Development Cycle, Halving Time with AI

Nissan Motor Co (TYO:7201) aims to cut new model development to 30 months, mirroring Chinese automakers' use of AI for faster launches, Nikkei Asia reported on Friday, citing an interview with President Ivan Espinosa.The next-generation Skyline, debuting this winter, was developed in 26 months, down from 55 for its predecessor, the news agency said.Slow development has previously hurt Nissan's ability to offer popular cars and dampened earnings, the publication said.(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:7201

Asia25d ago

Solstice Minerals Intersects Wide Mineralization Beyond Resource Boundary at Western Australia Project; Shares Up 3%

Solstice Minerals (ASX:SLS) intersected wide mineralization zones 160 meters to the north of the current mineral resource estimate boundary at its Nanadie project in Western Australia, according to a Friday filing with the Australian bourse.Initial assays from the second-phase reverse circulation drilling yielded 44 meters at 0.52% copper, 0.14 grams per tonne grade of gold from 93 meters, within a broader combined anomalous intercept of 112 meters at 0.44% copper, 0.14 g/t grade of gold from five meters, the filing said.Mineralization was confirmed over a strike length of roughly 1.2 kilometers, remaining open to the north.Step-out drilling is underway at the southern end of the deposit, per the filing.Shares rose 3% in morning trade on Friday.

ASX:SLS

Asia25d ago

Market Chatter: US to Tap Japan's $550 Billion Pledge for Nuclear Expansion

The U.S. plans to use part of Japan's $550 billion investment commitment to build and expand nuclear plants, Nikkei Asia reported on Friday, citing Commerce Secretary Howard Lutnick.Discussions are underway for Japan to invest up to $40 billion in GE Vernova and Hitachi's small modular reactors, and an additional $25 billion is being considered for NuScale Power, according to the report.Total Japanese investment in U.S. nuclear projects could exceed $62 billion, with the first project expected in Tennessee, the publication said.The Trump administration has already initiated approval procedures for small modular reactors, the report said.(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.)

Nikkei 225

Asia25d ago

Vita Life Sciences Expects H1 Sales to Increase From a Year Earlier

Vita Life Sciences (ASX:VLS) expects a pre-tax profit of AU$6.8 million to AU$7.3 million and sales of AU$46.3 million to AU$47.3 million for the half year ending June 30, according to a Friday filing with the Australian bourse.For the first half of 2025, the company booked a pre-tax profit of AU$6.8 million on sales of AU$45.5 million, per the filing.Vita Life Sciences said it expects "solid revenue growth" in the markets of Australia, Malaysia, and Singapore, partially offset by lower exports to China amid a shifting regulatory landscape and channel dynamics.

ASX:VLS

Asia25d ago

CapitaLand Ascendas REIT Reallocates SG$30.9 Million to Debt Repayment

CapitaLand Ascendas REIT (SGX:A17U) plans to reallocate SG$30.9 million from its SG$903.5 million fund raise towards debt repayment rather than for part-financing a potential acquisition, according to a filing to the Singapore stock exchange on Thursday.The company had initially earmarked S$30.4 million to partially finance the potential acquisition of a light industrial asset in Singapore; however, it has since dropped the plan and plans to use the funds for debt repayment purposes.Out of the total gross proceeds, SG$4.2 million was used to pay the estimated fees and expenses incurred in connection with the equity fund raising, while the reallocated SG$30.9 million was fully deployed for debt repayment purposes, bringing the cumulative utilization across these two categories to SG$35.1 million.The total gross proceeds of SG$903.5 million were raised through a multi-tranche equity fund raising earlier this year, which included a private placement of 249.4 million units at SG$2.406 per unit alongside a concurrent preferential offering.

SGX:A17U

Asia25d ago

DigiCo Infrastructure REIT to Sell Los Angeles Sites; Reaffirms Fiscal 2026 Underlying EBITDA Guidance

DigiCo Infrastructure REIT (ASX:DGT) entered into a conditional purchase and sale agreement to sell its LAX1 and LAX2 sites in Los Angeles, according to a Friday Australian bourse filing.The real estate investment trust's available liquidity will increase to around AU$1 billion after the sale of the Los Angeles sites and CHI1 in Chicago, providing funding for the SYD1 development.Completion of the transaction is subject to customary conditions and is expected to occur in the first half of fiscal 2027.The REIT reaffirmed its fiscal 2026 underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance of AU$125 million, per the filing.The REIT's shares gained about 1% in recent Friday trade.

ASX:DGT

Asia25d ago

South Korean Shares Open Sharply Higher on Hopes of US-Iran Deal

South Korean shares opened sharply higher on Friday after U.S. President Donald Trump claimed that Washington and Tehran had reached a "great settlement" and were finalizing documents for an agreement.The benchmark Korea Composite Stock Price Index, or Kospi, rose 6.4%, or 499.9 points, to open at 8,263.85. The Kosdaq increased by 3%, or 30.12 points, to open at 1,027.05.

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Asia25d ago

Vitrafy Life Sciences to Raise AU$30 Million via Placement; Shares Down 20%

Vitrafy Life Sciences (ASX:VFY) received firm commitments to raise AU$30 million through the issue of about 11.5 million new shares at AU$2.60 apiece, according to a Friday filing with the Australian bourse.The company will also offer eligible shareholders the opportunity to participate in a non-underwritten shares purchase plan to raise up to a further AU$2 million at the same price as the placement, the filing said.Proceeds will be used to fund the manufacturing of Guardion devices, with additional funds deployed towards the expansion of US sales and operations, per the filing.Shares fell nearly 20% in morning trade Friday.

ASX:VFY

Asia25d ago

WCM Global Growth Renews Share Repurchase Program for 12 Months

WCM Global Growth's (ASX:WQG) board approved the renewal of an on-market share repurchase program for 12 months through June 28, 2027, according to a Friday filing with the Australian bourse.The timing and number of shares purchased under the program will be subject to the share price and market conditions, the company said.The company's shares were up nearly 1% in recent Friday trade.

ASX:WQG

Asia25d ago

Market Chatter: Thai Airways Sees Travel Demand Moderating This Year

Thai Airways International (BKK:THAI) expects travel demand to moderate this year amid economic uncertainty stemming from the conflict in the Middle East and fare reductions by major carriers, Bloomberg News reported Thursday, citing Chief Executive Officer Chai Eamsir."The consumer has to think twice before spending money, that's why we saw some slowdown in forward bookings coming in," Eamsiri was quoted by Bloomberg as saying.After initially benefiting from the Middle East conflict as travelers sought to avoid Gulf transit hubs, Thai Airways is now facing pressure from lower ticket prices offered by competitors. The carrier has reduced flight frequencies in recent months due to weaker demand and high jet fuel costs, according to the report.Looking ahead, Thai Airways remains optimistic about its long-term growth prospects. Eamsiri said the airline has held discussions with Boeing and Airbus on a potential order for 10 widebody aircraft and plans to retrofit 14 jets with premium economy cabins.(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.)

BKK:THAI

Asia25d ago

Update: Far East Gold Continues to Recommend Shareholders Take No Action on Xingye Gold Offer; Shares Up 3%

(Updates with the stock movement in the headline and last paragraph.)Far East Gold (ASX:FEG) said Xingye Gold (Hong Kong) Mining dispatched a bidder statement for its offer to acquire all of the company's ordinary shares that it does not already hold for AU$0.13 each in cash, according to a late Thursday filing with the Australian bourse.Far East Gold reiterated its recommendation that shareholders take no action on the off-market acquisition bid, saying that the offer is opportunistic in both its timing and pricing.The company's shares rose past 3% in recent Friday trade.

ASX:FEG

Asia25d ago

Electro Optic Systems Completes Share Purchase Plan; Shares Up 4%

Electro Optic Systems (ASX:EOS) completed its share purchase plan (SPP), with the company receiving valid applications of AU$95 million from 4,909 eligible shareholders, exceeding the AU$25 million target, according to a Friday filing with the Australian bourse.The board decided to accept AU$40 million in SPP applications following strong demand, the filing said.Roughly 5 million new shares will be issued to eligible shareholders at AU$8 a piece under the SPP.The SPP was undertaken in conjunction with the AU$150 million institutional placement and the further AU$40 million strategic placement disclosed in May, per the filing.Shares rose 4% in morning trade on Friday.

ASX:EOS

Asia25d ago

Update: MC Mining Enters $10 Million Promissory Notes Deal With Two Shareholders; Shares Gain 5%

(Updates with the stock movement in the headline and last paragraph.)MC Mining (ASX:MCM) entered binding agreements for a $9.9 million promissory note program with controlling shareholder Kinetic Development Group and minority shareholder Eagle Canyon International Group, according to a Thursday filing with the Australian bourse.Kinetic and Eagle will respectively subscribe for $6.1 million and $3.8 million worth of unsecured convertible promissory notes to be issued by MC Mining, per the filing.The proceeds will be used for the construction and commissioning of MC Mining's flagship Makhado hard coking coal project in South Africa, as well as for general working capital needs.The investors may convert the notes into MC Mining ordinary shares at a fixed conversion price of $0.2089 per share, the company said.MC Mining shares gained over 5% in recent Friday trade.

ASX:MCM

Asia25d ago

Japanese Stocks Surge on Iran Truce Hopes as Japan Ensures Nearly One Year of Crude Supplies

Japanese equities climbed at Friday's opening, following Wall Street higher after President Donald Trump signalled a possible diplomatic deal with Iran.The Nikkei 225 surged 959 points or 1.5% to open at 65,176.23.Meanwhile, Prime Minister Takaichi told the cabinet on Thursday that Japan's July crude imports will fully avoid the Strait of Hormuz.She also projected a more than tenfold jump in U.S. oil purchases compared to last year, ensuring supplies through March 2028.Elsewhere, the European Central Bank raised rates for the first time since 2023, while U.S. producer prices surged at their fastest pace in over three years due to the Iran war.The U.S. data underscored the heavy toll that the Hormuz closure has inflicted on the American economy.

Nikkei 225

Asia25d ago

National Australia Bank Opens New Branch in New South Wales

National Australia Bank (ASX:NAB) opened its new branch in Westfield Kotara in New South Wales, the lender said in a statement on Friday.It is the bank's first branch in Newcastle to offer full-service banking on a Saturday, with customer access to self-service options, the statement said.The branch will be supported by a team of seven, including banking specialists and a home lending expert, per the statement.Shares rose past 1% in morning trade Friday.

ASX:NAB

Asia25d ago

Market Chatter: Japan, UK to Launch Offshore Wind Energy Partnership

Japan and Britain are planning an offshore wind collaboration, with their premiers to exchange an energy memorandum covering next-generation nuclear and fusion technology, Kyodo reported Thursday, citing government sources.Sanae Takaichi and Keir Starmer are expected to issue a joint statement on economic security, expressing concerns over coercive practices such as critical mineral export controls, the news daily said.Sunday's summit in London, their first since January, comes as European nations advance large-scale North Sea wind projects, the report said.Resource-poor Japan, heavily dependent on Middle Eastern oil, seeks to diversify energy sources amid rising regional tensions following the U.S.-Israeli war with Iran, the publication said.(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.)

Nikkei 225

Asia25d ago

Magellan Financial Gets ACCC Approval for Barrenjoey Merger; Plans Group Rebranding; Shares Up 5%

Magellan Financial Group (ASX:MFG) said the Australian Competition and Consumer Commission approved the company's merger with Barrenjoey Capital Partners, according to a Friday filing with the Australian bourse.The unconditional approval is subject to the expiry of a statutory 14-day review period, and Magellan expects to complete the merger in early July.Magellan Financial plans to seek shareholder approval at an Oct. 22 meeting to change its name to Barrenjoey Group, saying that a unified brand will put the combined group in a better position for its next growth phase.The company will also change its ticker to "BJY" from "MFG," while the name of its investment distribution brand will change to Barrenjoey Investment Partners from Magellan Investment Partners.Magellan Financial's shares jumped past 5% in recent Friday trade.

ASX:MFG

Asia25d ago

Market Chatter: Singapore's Oil Product Stocks Plunge to 13-Year Low as Middle East Conflict Persists

Oil product stocks in Singapore plunged to a 13-year low, owing to the persistent crisis in the Middle East that pushed residual fuel inventories sharply lower, Reuters reported Thursday, citing Enterprise Singapore data.Combined onshore oil product inventories declined to 34.41 million barrels in the week ended June 10, marking their lowest level since July 2013, the report said.Residual fuel stocks also fell to 14.84 million barrels in the same week, representing their lowest level in about eight years, according to the report.Heavy distillate imports declined 36.3% from the previous week, with no additional supplies arriving from the Middle East. Middle distillate inventories, including diesel and jet fuel, also fell to around 6.9 million barrels in the week ended June 10 from 7.3 million barrels a week earlier, despite higher exports, the report added.Net diesel exports surged by about five times, while imports decreased by 42%, with supplies mainly coming from India, South Korea, and Indonesia, Reuters said.(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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