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Market Chatter: South Korea's Ruling Democratic Party Wins Local Elections

South Korea's ruling Democratic Party secured the majority of seats in local elections, early vote counting showed on Thursday, Reuters reported the same day.President Lee Jae Myung's party won Busan and led in 12 of 16 mayoral and provincial contests across the country, the report said.Meanwhile, incumbent Oh Se-hoon of the opposition People Power Party (PPP) held a narrow lead in the capital Seoul, where voting disruptions have been reported over a shortage of ballot papers, 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.)

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Asia40d ago

Market Chatter: Nissan, Mitsubishi Set Sights on EV-to-Grid Services by 2030

Nissan (TYO:7201) and Mitsubishi Motors (TYO:7211) intend to launch services by 2030 that would allow electric vehicle owners to sell unused battery power back to the grid, Nikkei Asia reported on Thursday.A Mitsubishi-led vehicle-to-grid pilot involving about a dozen electrified vehicles in the Tokyo area ran through March, the news daily said.Participants in the trial remotely managed battery charging and discharging through an online platform, with compensation tied to electricity market conditions.The report noted that power prices fluctuate significantly throughout the day, creating opportunities for EV owners to earn income by supplying electricity to the grid during periods of higher demand.Broader adoption of vehicle-to-grid services could help reduce the overall cost of EV ownership while supporting power supply stability, according to Nikkei Asia.(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:7201TYO:7211

Asia40d ago

HS Optimus to Acquire 30% Stake in Medicorp

HS Optimus (SGX:504) agreed to acquire a 30% stake in Medicorp from Lee Rui Ren for SG$4.2 million, according to a Tuesday filing with the Singapore Exchange.Medicorp is a Brunei-incorporated medical equipment and supplied company.The acquisition will be satisfied through the issuance and allotment of new shares in the company's capital at an aggregate value of up to SG$1 million and balance of the consideration will be made in cash at SG$0.0054 per share.Upon completion, Medicorp will become and associate company of HS Optimus, the filing said.Under the agreement, the manufacturer and distributor of doors can also have a put option to purchase an additional stake in Medicorp for SG$2.7 million within three years, taking the potential shareholding to 49%.

SGX:504

Asia40d ago

Chaozhou Three-Circle Receives Filing Notice for Hong Kong Listing from Chinese Securities Regulator

Chaozhou Three-Circle (SHE:300408) received the filing notice from the China Securities Regulatory Commission for the company's plan to issue up to 149.2 million shares for listing on the Hong Kong bourse.The filing merely confirms the ceramic electronic components manufacturer's filing information and does not indicate that the CSRC makes any substantive judgment or guarantee, according to a Wednesday filing with the Shenzhen bourse.

SHE:300408

Asia40d ago

Sieyuan Electric's Unit to Spend 600 Million Yuan For Expansion Plans

Sieyuan Electric's (SHE:002028) unit, Jiangsu Rugao High Voltage Electrical Appliance, plans to invest 600 million yuan for its expansion and construction, according to a Thursday disclosure on the Shenzhen bourse.The funds will be used for Rugao High Voltage's production and business activities, as well as for the acquisition of land that will serve as its site.The power transmission and distribution equipment manufacturer's shares rose 1% during the morning trade.

SHE:002028

Asia40d ago

Stoneweg Europe Stapled Trust to Divest French Cold Warehouse Asset for EUR6 Million

Stoneweg Europe Stapled Trust (SGX:SET) signed a binding agreement for the divestment of Parc de Meslay in Parcay-Meslay, France, for 5.7 million euros, according to a Wednesday filing with the Singapore Exchange.The asset is being sold to a current tenant named Immostef, the filing added.The divestment is subject to clearance of pre-emption rights, which expire in September, with completion slated for October.The property is a cold warehouse, spanning 5,613 square meters, and is fully leased to Immostef.

SGX:SET

Asia40d ago

Market Chatter: TSMC CEO Upbeat on Growth Prospects Amid AI Boom

Taiwan Semiconductor Manufacturing (TSMC) (TPE:2330) remains upbeat over its growth prospects as customers continue to express a positive outlook for the artificial intelligence industry, Reuters reported Thursday, citing the company's chief executive C.C. Wei."We continue to see increasing adoption of AI models across consumer, enterprise and sovereign AI applications. This trend is driving demand for greater computing power, which in turn supports strong demand for advanced ⁠semiconductor chips," Wei was quoted as saying during the company's annual shareholders meeting.(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.)

TPE:2330

Asia40d ago

American West Metals Confirms Presence of High-Grade Critical Metals at Utah Project

American West Metals (ASX:AW1) confirmed the presence of high-grade critical metals at its West Desert project in Utah during sampling of historical drill core, according to a Thursday filing with the Australian bourse.Assays of previously unsampled historical drill core within and around the deposit yielded critical metal grades with peak values of 1,065 grams per tonne (g/t) silver, 155 g/t indium, and 40 g/t gallium, the filing said.Sampling also returned high base metal grades of up to 9.5% zinc, 2.3% copper, and 9.9% lead.

ASX:AW1

Asia40d ago

ASX Midday Sector Update: Consumer Staples Stocks Advance, Materials Sector Struggles

Consumer staples stocks advanced 1% at midday Thursday.Woolworths Group (ASX:WOW) gained nearly 1% in recent trade.Meanwhile, the materials sector struggled, shedding more than 3%.BHP Group (ASX:BHP) shares fell nearly 4% following news that exports from Guinea's Simandou iron ore project rose in May.

ASX 200ASX:BHPASX:WOW

Asia40d ago

Australian Vanadium to Join Second Stage of Expression of Interest Process for Western Australia Storage System Project

Australian Vanadium (ASX:AVL), through its wholly-owned unit Vsun Energy, plans to take part in the second stage of expression of interest process for Western Australia's Kalgoorlie vanadium battery energy storage system project, according to a Thursday Australian bourse filing.The state seeks to deliver 500 megawatt-hours of vanadium flow battery product for Kalgoorlie by 2029 under a build-own-operate model, with up to AU$150 million in funding support proposed by the Western Australia Government, subject to the second stage process and execution of definitive agreements.The company started preparing a response and plans to lodge a submission by the July 20 deadline, per the filing.

ASX:AVL

Asia40d ago

Jinchuan Group Says Internal Control Weaknesses Remedied

Jinchuan Group International Resources (HKG:2362) said a follow-up review found that all recommendations from an independent internal control review had been adopted or implemented, according to a Wednesday Hong Kong bourse filing.The review was conducted as part of the Hong Kong Stock Exchange's resumption guidance following the suspension of trading in the company's shares.The independent consultant had identified weaknesses in vendor onboarding, document retention, conflicts of interest, and cash management, including instances in which payments were made to bank accounts that did not belong to registered vendors.Jinchuan said its audit committee and board believe the group now has adequate internal controls and procedures to comply with listing rules.Trading in the company's shares remains suspended.

HKG:2362

Asia40d ago

OECD Cuts Philippines Growth Forecast to 3.2% in 2026

The Organisation for Economic Cooperation and Development (OECD) has cut its economic growth forecast for the Philippines to 3.2% in 2026, in its June Economic Outlook released on Wednesday.The latest estimate is significantly slower than its 5.1% forecast made in December 2025.The global organization also slashed its 2027 growth projection for the Asian nation to 5% from 5.8% previously.The country's GDP growth slowed to 2.8% year-on-year in the first quarter of 2026, reflecting weaker domestic demand weighed down by higher inflation.OECD also expects consumption to soften due to higher inflation and weaker labor market conditions; however, it sees public investment recovering gradually following the contraction seen in late 2025.The report raised its Philippine inflation forecast to 6.8% in 2026 amid higher energy prices and the peso depreciation. The projected level exceeds the government's 2%-4% target range for the year."Monetary policy is expected to tighten in 2026 as inflation and exchange rate pressures rise. Fiscal policy will be more expansionary in the near term due to energy-related support measures, before returning to consolidation in 2027," the OECD said in its report.

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Asia40d ago

Market Chatter: Dubai-based Apparel Group Considers India IPO

Dubai-headquartered fashion and lifestyle firm Apparel Group is eyeing an initial public offering (IPO) for its Indian unit Apparel Group in Mumbai, Bloomberg News reported Thursday, citing people familiar with the matter.The valuation and the size of the IPO are yet to be announced, but banker appointments are being anticipated soon, the people told the news agency. The IPO could take place later in 2026 or in early 2027, the report said.The company's India unit operates over 300 stores across more than 50 cities and manages over 20 brands in the country. Its portfolio includes brands such as Charles & Keith, Dolce & Gabbana Beauty, Levi's Kids, Victoria's Secret, Aldo, Crocs, Tim Hortons, Inglot, Call It Spring, Nike Littles, and Jordan Kids, 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.)

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Asia40d ago

SG Micro Moves Closer to Hong Kong IPO

SG Micro (SHE:300661) published its post-hearing information pack on the Hong Kong bourse's website as part of its H-share offering and Main Board listing process.The move followed a listing hearing on May 14, according to a Thursday filing with the Shenzhen bourse.Shenzhen shares of the integrated circuit manufacturer rose 3% in recent trade.

Hang SengSHE:300661

Asia40d ago

Pony AI Added to Shanghai-Hong Kong Stock Connect Trading Link

Pony AI (HKG:2026) said its Class A ordinary shares have been included in the Shanghai-Hong Kong Stock Connect program, effective June 4, according to a Wednesday filing with the Hong Kong bourse.Shares of the autonomous driving technology company fell over 2% in Thursday morning trading.The Stock Connect program links the Hong Kong and Shanghai stock exchanges, allowing investors in mainland China and Hong Kong to trade eligible securities in each other's markets.Pony AI said the inclusion of its shares in the cross-border trading link would broaden its shareholder base and enhance trading liquidity.

HKG:2026

Asia40d ago

Market Chatter: Hanwha Aerospace Suspends Production at Nine Sites Following Deadly Fire

Hanwha Aerospace (KRX:012450) will suspend production at nine facilities in South Korea on June 4 and June 5 to conduct safety inspections and employee training, Reuters reported Thursday.The temporary shutdown will apply to all production lines except certain critical manufacturing processes, according to the report.The move comes after an explosion and fire at the company's Daejeon plant earlier this week left five workers dead and two injured.(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:012450

Asia40d ago

Girnar Spintex's Profit Declines Sharply in Fiscal Q4

Girnar Spintex Industries' (NSE:ASIL, BOM:521076) profit plunged to 1.7 million Indian rupees in the fiscal fourth quarter ended March 31 from 58.8 million rupees a year ago.Earnings per share contracted to 0.34 rupees from 21.57 rupees a year earlier, the textile manufacturer said in a filing to the Indian stock exchanges on Wednesday.Revenue from operations in fiscal Q4, however, increased to 366.8 million rupees from 331.7 million rupees a year ago.

BOM:521076NSE:ASIL

Asia40d ago

Racura Oncology Raises Over AU$24 Million Via Piggyback Option Offer; Shares Jump 6%

Racura Oncology (ASX:RAC) said it generated proceeds of about AU$24.4 million after a total of 19.5 million piggyback options were exercised out of the 20.1 million issued at its piggyback option offer, representing a 97% conversion rate, according to a Thursday Australian bourse filing.The proceeds provide additional capital to advance the company's clinical programs in acute myeloid leukemia, lung cancer, and anthracycline cardioprotection, as well as general working capital, per the filing.The company's shares rose nearly 6% in recent trading on Thursday.

ASX:RAC

Asia40d ago

Yojee Signs Second Commercial Customer for Freight Forwarding Platform Ahead of Full Commercial Release

Yojee (ASX:YOJ) signed Wayfinder Cargo Solutions as the second commercial customer on its Mosaic freight forwarding platform before the full commercial release, according to a Thursday Australian bourse filing.The agreement is structured as an early adopter period running from June 8 to Aug. 31, before the full commercial release, per the filing.The companies intend to transition into a revenue generating agreement to use the Mosaic software from Sept. 1.

ASX:YOJ

Asia40d ago

Market Chatter: Tencent, CATL Among Investors in DeepSeek's Debut Funding Round

Sources said DeepSeek counts Tencent (HKG:0700) and Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, as investors in its debut external funding round, Reuters reported Wednesday.The Chinese artificial intelligence startup is set to raise 50 billion yuan, which could value DeepSeek between 350 billion and 400 billion yuan, according to the report.The fundraising breaks from founder Liang Wenfeng's previous strategy of relying solely on his quant hedge fund High-Flyer to back operations, Reuters wrote.(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.)

Shanghai Composite^SZSEHKG:0700HKG:3750SHE:300750

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