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Changchun High-Tech Industry Gets US FDA Nod for Cancer Drug Trial

Changchun High-Tech Industry (SHE:000661) subsidiary GeneScience received approval of the U.S. Food and Drug Administration to start clinical trials in the U.S. for GenSci145 tablets.The drug is indicated for locally advanced or metastatic solid tumors with PIK3CA mutations, which occur in 30% to 40% of breast cancers, according to a Tuesday filing with the Shenzhen bourse.Shares of the drug manufacturer closed 2% lower Tuesday.

SHE:000661

Asia41d ago

Zelgen Biopharmaceuticals Presents Two Cancer Drugs in US Convention

Suzhou Zelgen Biopharmaceuticals (SHA:688266) presented two cancer drugs at the American Society of Clinical Oncology, according to a Shanghai bourse filing on Tuesday.The drugs presented were Nilvanstomig, which was developed as a treatment for hepatocellular carcinoma, and Alveltamig, a T-cell engager immunotherapy.Both drugs showed safety profiles during the clinical trials.

SHA:688266

Asia41d ago

Muyuan Foods Names Founder As Honorary Chairman

Muyuan Foods (HKG:2714; SHE:002714) granted Qin Yinglin the title honorary chairman, according to a Hong Kong filing on Tuesday.Qin, the food company's founder, resigned as chairman and president after reaching the mandatory retirement age.The company's Shenzhen shares dropped 3% at the close.

HKG:2714;SHE:002714

Asia41d ago

Semirara Mining Retains Tax-Exempt Status on Fuel Imports, Supreme Court Rules

Semirara Mining and Power's (PSE:SCC) tax-exempt status on fuel imports has been upheld by the Supreme Court of the Philippines, according to a decision issued on Jan. 20 and released last week.Under the ruling, the government has been mandated to refund 27.3 million Philippine pesos collected as value-added tax to the company.The high court's Third Division upheld an earlier Court of Tax Appeals ruling in favor of the mining company after rejecting a petition filed by the Internal Revenue commissioner.The Local Government Code is limited to local government taxation and does not extend to national internal revenue taxes, Associate Justice Maria Filomena D. Singh wrote in the ruling.

PSE:SCC

Asia41d ago

South Korean Shares Close Above 8,800 Points on Gains in AI-Led Tech Shares; Samsung Adds Over 3%

South Korean stocks closed above the 8,800-point threshold for the first time on Tuesday, with gains in AI-driven technology shares, led by Samsung Electronics (KRX:005930), which added 3.3% at market close.The Korea Composite Stock Price Index or Kospi rose 13.11 points, or 0.2%, to end at 8,801.49. The Kosdaq decreased by 24 points, or 2.3%, to close at 1,026.03.In economic news, South Korea's corporate financing through debt and equity issuance rose by 13% to 22.616 trillion won from a month earlier, according to data released by the Financial Supervisory Service on Tuesday.Equity issues fell 6% from 440.2 billion won to 413.6 billion won, while debt issues grew 13.6% to 22.202 trillion won in April, from 19.543 trillion won in the previous month.In corporate news, Samsung Heavy Industries (KRX:010140) will build an offshore production facility for an undisclosed North American client, according to a Tuesday filing with the Korean Exchange.The contract is worth 4.33 trillion won, and the facility is expected to be completed by July 10, 2030.Shares of Samsung Heavy Industries rose nearly 1% at market close.

^KOSDAQKOSPIKRX:005930KRX:010140

Asia41d ago

Inswave Systems Wins Web Terminal Switching Contract from LG CNS

South Korean software company Inswave Systems (KOSDAQ:450520) secured a web terminal switching contract from LG CNS (KRX:064400), according to a Tuesday filing with the Korea Exchange.The contract, valued at 9.88 billion won, is valid till Dec. 31, 2027.Shares of LG CNS fell nearly 6% at market close.

KOSDAQ:450520KRX:064400

Asia41d ago

Lumax International's IT Systems Hit By Cyberattack

Lumax International (TPE:6192) said certain internal information systems were hit by a cyberattack on Tuesday, according to a same-day Taiwan Exchange filing.The company said it immediately activated its cybersecurity response mechanisms, and is working with external experts to restore affected systems.It added that no material operational impact has been identified at this stage, and there is no evidence of data leakage or compromise of confidential information.Lumax vowed to strengthen its cybersecurity infrastructure and expand defense measures to prevent future incidents, the filing said.

TPE:6192

Asia41d ago

S&P Rates HKT Capita's Proposed US Dollar Notes BBB

S&P Global Ratings has placed a BBB long-term issue rating on HKT Capital's proposed U.S. dollar notes, according to a Tuesday release.HKT Capital and parent Hong Kong Telecommunications act as guarantors of the $3 billion medium-term note program under which the proposed notes will be issued, S&P said.The proposed notes' rating is in line with the company's issuer credit rating, considering limited subordination risk in the capital structure, S&P said.The company's rating reflects S&P's view that the group will sustain its leading status among Hong Kong's telecommunications players while maintaining steady debt leverage.The rating agency does not expect a significant change in the capital structure of Hong Kong Telecommunications and HKT Trust and HKT (HKG:6823), which fully owns the telco through HKT Group Holdings, following the issuance.The company plans to channel the proceeds from the issuance to refinance its debt maturities, the rating agency said.

HKG:6823

Asia41d ago

Haisco Pharmaceutical to Sign Licensing Agreement with Eli Lilly

Haisco Pharmaceutical (SHE:002653) subsidiary Haisco Pharmaceutical Technology (Lhasa) and Eli Lilly will sign a licensing and research collaboration agreement for five experimental drug projects, according to a Tuesday filing with the Shenzhen bourse.Eli Lilly will obtain global exclusive rights to the projects, except in China, Hong Kong, Macau, and Taiwan, which Haisco will handle.Haisco will be entitled to up to $87 million in upfront payments for five target projects from nomination to candidate compound confirmation, as well as up to $2.97 billion after achieving clinical, regulatory, and commercialization milestones.The Chinese drug company will also receive single-digit tiered royalties on future product sales, Haisco said in a separate press release.

SHE:002653

Asia41d ago

Market Chatter: India's Enforcement Directorate Raids Vedanta's Premises Over Royalty Payments

India's Enforcement Directorate is said to be conducting searches at some premises of mining and exploration company Vedanta (NSE:VEDL, BOM:500295), including those in Mumbai, Delhi, and Rajasthan, according to local media reports on Tuesday.The company's shares fell nearly 2% intraday on Tuesday.Reports suggest that the searches are being conducted in relation to alleged violations of the Foreign Exchange Management Act (FEMA) rules pertaining to royalty payments made by the company to its parent, Vedanta Resources."We are extending full cooperation to the authorities and are providing all information sought. The company remains committed to compliance with all applicable laws and regulations. As the matter is currently under regulatory process, we are unable to comment further at this stage," a Vedanta spokesperson was quoted as saying, according to media reports.(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.)

BOM:500295NSE:VEDL

Asia41d ago

Guoxin Sees Unusual Stock Movement

Jiangsu Guoxin (SHE:002608) experienced abnormal stock fluctuations for three consecutive trading days, but its operations remain normal, according to a Shenzhen bourse filing on Tuesday.The company's closing price between May 28 and June 1 exceeded 20%, higher than the bourse's threshold.The power company's probe into the matter showed that it does not have any significant information that could have an impact on the trading price of its shares.

SHE:002608

Asia41d ago

China Hainan Rubber Makes Adjustments in Renewed Rubber Insurance Deal

China Hainan Rubber Industry (SHA:601118) made adjustments in its renewed rubber insurance deal for the year, according to a Shanghai bourse filing on Tuesday.The Chinese rubber company will pay an additional insurance premium of 2.1 million yuan and its insurance premium rate will rise to 13.9% from 13.24%.The deal was signed with China Pacific Property Insurance, PICC Property and Casualty (HKG:2328), China Life Property & Casualty Insurance, and Sunshine Property Insurance.

HKG:2328SHA:601118

Asia41d ago

JCHX Mining Management Renews Laos Potash Mine Deal

JCHX Mining Management (SHA:603979) renewed the contract for Open Development's potash mine in Laos, according to a Shanghai bourse filing on Tuesday.The contract is expected to be valued up to 125 million yuan, with the final value yet to be determined.The mine in Khammouane Province will produce 500,000 tons of potassium chloride every year.The company will conduct underground mining and mine development works in the area until Dec. 31.The Chinese mining construction company's shares rose 4% at the close.

SHA:603979

Asia41d ago

Chinese Shares Rise on Tech Optimism, Index Rebalancing; Far East Smarter Energy Jumps 10%

Chinese shares rose on Tuesday, supported by a rally in technology stocks and the upcoming index rebalancing.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.4% to 4,075.10. The Shenzhen Component Index went up 1.6% to 15,591.13.Markets are balancing renewed geopolitical risks from the U.S.-Iran war against continued enthusiasm for artificial intelligence-driven growth and technology investment," Reuters reported, citing Robert Savage, head of markets macro strategy at BNY.Meanwhile, China is the only major emerging market drawing investment into its equity, bond, and currency markets, Savage added.Also, boosting sentiment is China's upcoming semi-annual index rebalancing.According to Goldman Sachs estimates, adjustments to major CSI and CNI indexes scheduled for June could trigger over $48 billion in gross two-way passive investment flows, Reuters reported. The adjustments will raise the representation of information technology, telecommunications, and industrial companies.In company news, Far East Smarter Energy (SHA:600869) and its subsidiaries won contracts of about 1.80 billion yuan in May. Shares of the wire and cable manufacturer closed 10% higher Tuesday.

Shanghai Composite^SZSESHA:600869

Asia41d ago

Unimicron Technology Completes RSA-Linked Capital Reduction; Shares Drop 7%

Unimicron Technology (TPE:3037) has completed the registration of a capital reduction linked to a restricted stock award (RSA) write-off, according to a Monday Taiwan Exchange filing.Shares slumped over 7% in Tuesday's midday trade.The company cancelled 373,500 shares, reducing its paid-in capital to NT$15.752 billion from NT$15.755 billion.Following the adjustment, outstanding shares declined to nearly 1.58 billion, it said.

TPE:3037

Asia41d ago

NainTech Wins KRW25.4 Billion Display Manufacturing Equipment Contract from LG Electronics

NainTech (KOSDAQ:267320) secured a display manufacturing equipment supply contract from LG Electronics (KRX:066570), according to a Tuesday filing with the Korea Exchange.The contract, valued at 25.4 billion won, is valid till Dec. 31, 2027.Shares of NainTech, which develops equipment and machinery for motor vehicles, plant automation, and gauges for inspection and automation machinery, rose more than 2% at market close, while those of LG Electronics added over 3%.

KOSDAQ:267320KRX:066570

Asia41d ago

Shanghai Bourse Accepts Hainan Mining's Application to Place Shares

The Shanghai Stock Exchange received Hainan Mining's (SHA:601969) application to place shares for an acquisition, according to a Tuesday bourse filing.The mining company will use the share placement to acquire 69.9% of Luoyang Fengrui Fluorine Industry.

SHA:601969

Asia41d ago

Taiwan Mobile to sublease Telcom Asset to Taiwan Fixed Network

Taiwan Mobile (TPE:3045) will sublease a right-of-use telecom asset to Taiwan Fixed Network, according to a Monday Taiwan Exchange filing.Shares gained over 1% in Tuesday's midday trade.The asset is a 36.36-square-meter space in Hualien City, Taiwan, with a value of about NT$275,752 and a monthly rent of NT$5,000.The sublease will run from June 2026 to June 2031, with payments made annually over the contract period.Taiwan Mobile said the space will be used for deploying optical cables and transmission equipment to expand fixed-line network coverage.

TPE:3045

Asia41d ago

Indian Bank Raises Some Benchmark Lending Rates

Indian Bank (NSE:INDIANB, BOM:532814) has revised some of its benchmark lending rates after a review by its Asset Liability Management Committee (ALCO), according to a Monday filing to the Indian bourses.The public sector lender kept key policy-linked rates unchanged, while changing to the Marginal Cost of Funds-based Lending Rate (MCLR) and Treasury Bills Linked Lending Rates (TBLR), effective June 3.Under MCLR, the bank raised the three-month tenor to 8.50% from 8.40%, the six-month tenor to 8.75% from 8.65%, and the one-year tenor to 8.85% from 8.75%.The overnight rate was unchanged at 7.90%, while the 1-month tenor also remained at 8.20%.The bank also revised TBLR rates upwards across tenors. The rate for up to three months rose to 5.35% from 5.25%, the above three months and up to six months tenor to 5.55% from 5.45%, and both the above six months up to one year, and above one year up to three years segments were raised to 5.75% from 5.60%.The base rate remained at 9.55%, benchmark prime lending rate at 13.80%, policy repo rate at 5.25%, and repo-linked benchmark lending rate at 7.95%.Indian Bank's shares were up nearly 1% in Tuesday's trade.

BOM:532814NSE:INDIANB

Asia41d ago

Guangdong Electric Power Development Experiences Unusual Stock Movement

Guangdong Electric Power Development (SHE:000539) experienced abnormal stock fluctuations for two consecutive trading days, but its operations remained normal, according to a Shenzhen bourse filing on Tuesday.The Chinese power company's closing share price between May 29 and June 1 rapidly climbed by 40.05%, while turnover reached 19.65, exceeding the bourse's share price threshold.The company's review found that it does not have any significant information or disclosure that could affect its stock price.

SHE:000539

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