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Market Chatter: SK Hynix to Raise Wafer Capacity by Three Times by 2034: SK Group Chairman

SK Hynix (KRX:000660) plans to raise its wafer capacity by three times by 2034 to keep up with the increasing demand for memory chips needed for AI computing, SK Group Chairman Chey Tae-won told Nikkei Asia in an interview on Wednesday.The chipmaker is currently building four semiconductor fabrication plants in South Korea's Yongin, with the first facility expected to be completed in early 2027. Chey said the company accelerated the project timeline by a decade, bringing forth a plan that was initially expected to run till 2045, the report said.Shares of SK Hynix fell over 2% in recent trade on Thursday.(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.)

KRX:000660

Asia28d ago

Northern Star Resources Does Not Understand Magnitude of Required Change, Elliott Says

Northern Star Resources' (ASX:NST) board has formally acknowledged the company's underperformance, but a recent letter to shareholders suggests it "does not understand the magnitude of change required" to regain their trust, activist investor Elliott Investment Management said Thursday.Elliott, which earlier disclosed a stake of more than AU$1 billion in Northern Star, is pushing the company to launch a strategic review that includes a potential sale, and strengthen its board.In response to Elliott's initial outreach, Northern Star Chairman Michael Chaney said the company has been approached by various parties over a possible corporate combination, but it is not the right time to pursue a sale process."The board cannot simultaneously acknowledge inbound corporate interest, confirm its advisers have modeled structural options, and then decline to run any kind of formal process," Elliott said. "The case for a strategic review is now more apparent than it was before the board published its letter."The activist investor believes Northern Star must move immediately to restore shareholder value by bolstering its board and launching a formal strategic review of alternatives."No options should be taken off the table, and no outcome should be prejudged," it said.Northern Star Resources did not immediately reply to a request for comment from.The company's shares declined 2% in recent Thursday trade.

ASX:NST

Asia28d ago

South Korean Shares Open Nearly 3% Lower on Fresh US-Iran Tensions

South Korean shares opened sharply lower on Thursday, owing to an overnight rout of technology stocks on Wall Street and an escalation in the U.S.-Iran war.The benchmark Korea Composite Stock Price Index, or Kospi, fell 2.9%, or 221.2 points, to open at 7,509.62. The Kosdaq declined 1.5%, or 14.46 points, to open at 937.17.

^KOSDAQKOSPI

Asia28d ago

Market Chatter: Tokyo Disney Operator Faces Pressure to Raise Ticket Prices Amid Surging Costs

Oriental Land Co (TYO:4661), the operator of Tokyo Disney Resort, is facing pressure to raise ticket prices again as costs climb, Nikkei Asia reported on Thursday, citing analysts.The challenge also comes as Oriental Land's stock now trades 60% below its 2024 peak, according to the report.For the year ending March 31, 2027, the company expects to book a 4.5% drop in operating profit to 160.8 billion yen, with net profit forecast to fall 6.6% to 113.8 billion yen, according to the company's most recent earnings report.General and administrative costs have jumped roughly 40% since fiscal 2018, driven largely by higher labor expenses, Nikkei reported.Analysts suggest profitability could recover by late 2026 if ticket prices are raised, though the operator must first justify the higher cost to visitors, 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.)

TYO:4661

Asia28d ago

PC Gold Acquires Accommodation Camp to Support Northern Territory Gold Project, Shares Fall 6%

PC Gold (ASX:PC2) acquired the former Territory Iron accommodation camp located in Pine Creek, Northern Territory, about 30 minutes by road from its Spring Hill gold project, for AU$770,000 plus goods and services tax, according to a Thursday Australian bourse filing.The company said the existing camp infrastructure includes 16 accommodation blocks comprising 64 rooms, office facilities, storage infrastructure, and connection to power, water, and sewerage.Once refurbished, the camp will provide operational capacity to support project activities in the Pine Creek region, with space for additional rooms to support proposed mining activities at Spring Hill, delivering significant time and cost advantages compared with constructing a new facility, it added.The company's shares fell 6% in recent Thursday trade.

ASX:PC2

Asia28d ago

HQVT Technology Launches HK$613 Million Hong Kong IPO

HQVT Technology (HKG:1392) launched its Hong Kong initial public offering on Thursday, seeking to raise about HK$613.2 million from the deal.The China-based multispectral artificial intelligence technology company is offering 85.2 million H-shares at HK$7.20 apiece, according to a Hong Kong bourse filing.The offering comprises 8.5 million shares for Hong Kong investors and 76.6 million shares for international investors, subject to reallocation.Allocation results are expected to be disclosed on June 18, ahead of the company's planned trading debut on June 22.Net proceeds will be used primarily to enhance HQVT Technology's research and development capabilities and accelerate product development.The company also plans to use the funds to expand production capacity, strengthen business expansion and global market penetration, and for working capital and general corporate purposes.CMBC International Capital and SPDB International Capital are acting as joint sponsors.CMBC Securities and SPDB International Capital are serving as sponsor-overall coordinators, overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers.Livermore Holdings is acting as an overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager.Other joint bookrunners and joint lead managers include CCB International Capital, CEB International Capital, China Harbour International Securities, CMB International Capital, DL Securities (HK), Huafu International Securities, Skyvast Securities, Somerley Capital, Yuen Meta (International) Securities, Yunfeng Securities, Zheshang International Financial Holdings and Zhongtai International Securities.

HKG:1392

Asia28d ago

Market Chatter: Japan Boosts Imports of US Recycled Tungsten Amid China Curbs

Japan has sharply increased its imports of recycled tungsten scrap from the U.S. amid Chinese export restrictions on the critical metal for automotive, electronics, and defense industries, Nikkei Asia reported on Thursday.US shipments to Japan jumped to 590,000 kilograms in the first quarter of this year, a 24-fold increase compared to all of 2025, the news agency said.Overall, US exports of recycled tungsten nearly tripled year-on-year, with most shipments going to Asian markets excluding China, the publication said.The shift comes as China, which controls 80% of the global tungsten market, has effectively halted its exports to Japan since February, 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

Asia28d ago

Core Lithium to Spin Out Northern Territory, South Australian Exploration Assets into Axiant Resources

Core Lithium (ASX:CXO) is set to spin out selected exploration assets in the Northern Territory and South Australia into a new gold-focused company, Axiant Resources, via an initial public offering (IPO), according to a Thursday filing with the Australian bourse.The company will keep all lithium rights over the relevant tenements and retain a substantial equity stake in Axiant, while continuing its role as a lithium-focused producer, per the filing.Axiant will use IPO proceeds to explore gold and other non-lithium metals, with a prospectus expected next month and an Australian Securities Exchange listing targeted for July or August, subject to approvals and conditions, the filing said.Additionally, company Chair Greg English will retire on June 30 and is expected to become chair of Axiant, while Non-Executive Director Malcolm McComas will be appointed as the company's new chair, the filing added.The company's shares fell 2% in recent Thursday trade.

ASX:CXO

Asia28d ago

Japanese Stocks Fall as US Strikes on Iran Fuel Inflation Fears

Japanese stocks opened lower Thursday after the US launched fresh military strikes on Iran, raising concerns over crude oil supply disruptions and renewed inflationary pressures.The Nikkei 225 fell 850.1 points or 1.3% to open at 63,329.17.The attacks, described by US Central Command as "additional self-defense strikes," followed earlier retaliatory actions and growing US frustration over stalled negotiations, according to various media reports.Brent crude climbed to over $95.At home, Bank of Japan Governor Kazuo Ueda remains hospitalized and will miss next week's policy meeting, Bloomberg News reported on Thursday.

Nikkei 225

Asia28d ago

National Australia Bank Says Demand for Green Equipment Finance Rises as Businesses Ditch Diesel

National Australia Bank (ASX:NAB) reported a 32% surge in demand for green equipment finance in six months as Australian businesses rapidly shift away from diesel, with uptake in March 2026 more than double the same period last year, according to a Thursday statement by the bank.The bank said nearly 80% of demand is concentrated in New South Wales, Victoria, and Queensland, with similar efficiency-driven investments emerging across agribusiness, where farmers are increasingly adopting precision spraying technology that targets only green plants, the statement added.The bank's shares fell past 1% in recent Thursday trade.

ASX:NAB

Asia28d ago

Westpac Banking Says Mortgage Applications Fall in Fiscal Q3 After Budget

Westpac Banking (ASX:WBC, NZE:WBC) said average monthly mortgage application volumes fell to 30,000 in the third quarter of fiscal 2026, with a post-budget run rate of 27,000, according to a Thursday Australian bourse filing.The third-quarter volumes are calculated as the monthly average of April and May, which compares with 30,000 in the third quarter of fiscal 2025 and 33,000 in the second quarter of fiscal 2026.The bank said the current operating environment is impacted by higher rates and policy changes, which it said will slow credit growth.Westpac expects housing credit growth for investors to fall to 4.4% in fiscal 2027 and 2028, from 8.4% in fiscal 2026, while total housing credit growth is expected to fall to 4.7% in fiscal 2027 and 5.2% in fiscal 2028, from 6.5% in fiscal 2026.The lender's Australian shares were down nearly 1% in recent Thursday trade.

ASX:WBCNZE:WBC

Asia28d ago

Market Chatter: BOJ's Ueda Hospitalized, Set to Miss June Rate Decision

Bank of Japan Governor Kazuo Ueda has been hospitalized for about two weeks due to an infected hepatic cyst and will miss the upcoming June policy meeting, Bloomberg News reported on Thursday.Deputy Governor Ryozo Himino will act as chair, while another deputy, Shinichi Uchida, will handle the post-meeting press conference, the news wire said.Despite Ueda's absence, the bank is still widely expected to raise interest rates to levels not seen since 1995, the publication said.The governor plans to share his views in writing but will not vote, and he is expected to return for the July meeting, the report said, citing the BOJ's media relations division.(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

Asia28d ago

Vascon Engineers Gets LOI for INR3.5 Billion Redevelopment Contract

Vascon Engineers (NSE:VASCONEQ, BOM:533156) has received a letter of intent for an order worth 3.47 billion Indian rupees from the Central Public Works Department in Guwahati, India, according to a Wednesday filing to the Indian stock exchanges.The engineering, procurement, and construction contract is for the demolition and redevelopment of the RBI quarters in Guwahati in the Indian state of Assam.The project is expected to be completed within 36 months.

BOM:533156NSE:VASCONEQ

Asia28d ago

Ningbo Orient Wires & Cables Secures 5.23 Billion Yen in New Contracts

Ningbo Orient Wires & Cables (SHA:603606) and its subsidiary have won bids totalling 5.23 billion yuan across multiple major projects, according to a bourse filing on Wednesday.The bids are divided into three categories, namely green power transmission cables for 3.36 billion yuan, power and new energy submarine and high-voltage cables 1.11 billion yuan, and deep-sea marine equipment and engineering operations 762 million yuan.Key projects include State Grid and China Southern Power Grid procurements, as well as offshore wind farm submarine cable supply for the Yangjiang Sanshan Island project.The company said these projects will help accelerate its "land and sea" dual-market strategy.

SHA:603606

Asia28d ago

STL Networks Names Interim CEO

STL Networks (NSE:STLNETWORK, BOM:544395) appointed Chandrasekhara Rao Battula as interim chief executive officer and whole-time director effective Wednesday, according to a same-day filing to the Indian bourses.He takes over from Pankaj Malik, who resigned as a whole-time director, but will continue to serve as CEO for the next three months, until Sept. 10, to ensure a smooth handover.Before joining the technology company, Battula held key positions with Ericsson India, UTStarcom, Reliance Infocomm, and Sterlite Technologies.

BOM:544395NSE:STLNETWORK

Asia28d ago

New Zealand's Financial Markets Authority Urges Insurers to Consider Consumer Risks in Benefits, Campaigns

New Zealand's Financial Markets Authority (FMA)on Thursday urged insurers to adopt a proactive and outcome-focused approach to manage risks associated with short-term sales campaigns and incentives, pointing to potential conflicts of interest that can jeopardize the fair treatment of consumers.Although the majority of insurers have processes in place to identify and manage such risks, their approaches to risk mitigation vary, the FMA said.The regulator outlined multiple areas of focus, including the need for greater stakeholder involvement when designing incentives, clear governance and approval processes, enhanced monitoring of how incentives impact consumer outcomes, and more use of proactive reviews as opposed to relying only on complaints or feedback.According to the FMA, the risks include insurers potentially recommending a product or value of insurance cover that is not suited to the customer's needs, or recommending a policy replacement just to increase the chance of the adviser receiving a soft commission."These benefits and campaigns, or soft commissions, have a place, but insurers should actively consider these risks to ensure their fair conduct programs are designed to support fair treatment of consumers," said Michael Hewes, the FMA's director of deposit-taking insurance and advice."We want these insights to support insurers to take consumers' interests into account when designing, offering, and managing benefits and campaigns," Hewes added.

ASX:IAGASX:QBEASX:TWRNZE:TWR

Asia28d ago

TDK to Acquire Metal 3D Printing Pioneer Fabric8Labs for Up to $400 Million

TDK (TYO:6762) has signed a definitive agreement to acquire Fabric8Labs, a developer of advanced electrochemical additive manufacturing (ECAM) technology, for up to $400 million in cash.The acquisition will make Fabric8Labs a wholly owned subsidiary of TDK, and accelerate TDK's data center initiatives under its current medium-term plan, according to a statement on Wednesday.By integrating Fabric8Labs' innovative 3D printing capabilities, TDK aims to deliver integrated thermal management, power components, and advanced packaging solutions to help data centers manage rising energy demands driven by AI.The transaction, subject to regulatory clearances, builds on an existing relationship where TDK Ventures has supported Fabric8Labs since its seed stage.

TYO:6762

Asia28d ago

Market Chatter: SK Hynix Plans US Listing in August

South Korean memory chipmaker SK Hynix (KRX:000660) is planning to list its shares in the US as early as August, Reuters reported Wednesday, citing two sources familiar with the matter.The US Securities and Exchange Commission is likely to approve SK Hynix's American depositary receipt listing application in the last week of June, one of the sources reportedly said."SK Hynix plans to issue ADRs within 2026, but the details, including the size and timing, have not yet been decided," the company said in a statement issued to Reuters.In March, the news agency had reported that SK Hynix made a confidential filing to list shares in the US this year, through which it could raise up to $14 billion.(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.)

KRX:000660

Asia28d ago

Commonwealth Bank of Australia Faces Shareholder Damages Claims in High Court

Commonwealth Bank of Australia (ASX:CBA) shareholders will seek damages in Australia's High Court on Thursday over the bank's alleged failure to disclose a AU$700 million fine to the market, which they argue inflated the value of shares, according to court documents.The bank agreed to pay the fine in 2018 after the Australian Transaction Reports and Analysis Center (AUSTRAC) investigated it over failures related to anti-money laundering rules, including the late filing of 53,506 transactions that met the reporting threshold.A group of shareholders claims the issues became public knowledge only after AUSTRAC issued a press release in 2017, even though the bank was aware of them earlier.The shareholders are seeking compensation "for the inflated value of their shares attributable to the bank's wrongful failure to inform the market," according to the court documents.An earlier court decision found that the shareholder group failed to quantify their losses and was not able to prove that a share price drop of AU$3.29 for the Commonwealth Bank of Australia was fully attributable to the non-disclosure. The group is now challenging the dismissal of their damages claim in the High Court.

ASX:CBA

Asia28d ago

Brazilian Rare Earths Says Survey Defines Exploration Corridor at Brazil Project

Brazilian Rare Earths (ASX:BRE) said a high-resolution airborne geophysical survey and reconnaissance diamond drilling at the Velhinhas Corridor in Brazil has defined more than 9 kilometers of cumulative exploration corridor trends, according to a Thursday Australian bourse filing.The company said the survey extends rare earth mineralization to over 8 kilometers south of the ultra-high-grade Monte Alto Deposit, and ultra-high-grade surface samples returned grades of up to about 40% total rare earth oxide (TREO), 21% TREO, and 14% TREO, confirming a strong high-grade surface expression of an extensive mineralized system.Reconnaissance diamond drilling returned grades of 20% TREO; 33,607 parts per million (ppm) neodymium-praseodymium (NdPr); 1,463 ppm dysprosium oxide; 248 ppm terbium oxide; 7,431 ppm yttrium oxide; and 1,087 ppm uranium oxide, the filing added.The survey confirms four north-northeast-trending mineralized corridors, converting numerous ultra-high-grade surface results into a district-scale exploration model, the company said.Brazilian Rare Earths has mobilized an additional diamond drill rig and is advancing a more than 5,000-meter drilling campaign to test priority geophysical anomalies and expand bedrock mineralization, it added.

ASX:BRE

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