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China Eastern Airlines' Passenger Count Slips in April; Shares Fall 3%

China Eastern Airlines' (SHA:600115, HKG:0670) passenger count ticked down 0.9% year on year to 11.9 million in April, according to a weekend filing with the Shanghai bourse.Shares of the airline were down 3% in Monday's trade.Passenger capacity climbed 0.8% to 25.4 billion available seat kilometers.Cargo capacity went up 1.7% to 858.8 million available freight ton-kilometers.Cargo and mail carried jumped 14% to 97.1 million kilograms.

HKG:0670SHA:600115

Asia51d ago

Jumpcan Pharma Gains Protection Status for Traditional Chinese Medicine

Hubei Jumpcan Pharmaceutical (SHA:600566) said China's drug regulator granted Pudilan Xiaoyan oral liquid the status of nationally protected traditional Chinese medicine.The drug is used to treat upper respiratory infections, according to a Monday filing with the Shanghai bourse.The protection period is seven years from the announcement date.Shares of the pharmaceutical company were down 2% in recent trade.

SHA:600566

Asia51d ago

Spring Airlines Passenger Capacity Falls 2% in April; Shares Down 2%

Spring Airlines' (SHA:601021) available seat kilometers, or passenger capacity, in April fell 2% year on year to 5.54 billion, according to a Shanghai bourse filing on Saturday.The airline operator's shares fell by less than 2% during Monday's afternoon trade.Revenue passenger kilometers for the month slipped 1.7% to 5.14 billion from a year earlier.The company carried 9,178.92 tons of cargo and mail, 5% higher than the prior year.

SHA:601021

Asia51d ago

Hainan Airlines' Passenger Capacity Slips 1% in April

Hainan Airlines' (SHA:600221, SHA:900945) available seat kilometers, which measures passenger capacity, slipped 1.2% year on year to 12.3 billion passengers in April, according to a Saturday filing on the Shanghai bourse.The airline operator's B shares fell 2% during Monday's afternoon trade.The revenue passenger kilometers slightly rose 0.1% from a year earlier to 10.4 billion yuan.The company's cargo and mail volume jumped 6.5% year on year to 50,210 tons.

SHA:600221SHA:900945

Asia51d ago

Market Chatter: Malaysia Launches MYR5 Million Relief Package for Aviation Industry

Malaysia has rolled out a 5 million ringgit ($1.3 million) relief package to support its aviation industry as airlines face escalating operational costs linked to tensions in the Middle East, Bloomberg News reported Sunday.The measures aim to sustain operational stability while easing financial strain across the sector. Under the initiative, the Transport Ministry is granting up to a 60-day extension for navigation charges, along with waivers on aircraft parking fees.Payments for passenger boarding bridges and check-in counter services will also be deferred by two months, reportedly.The funds will support airfare rebates for 100,000 passengers travelling between Peninsular Malaysia, Sabah, Sarawak and Labuan from May to June, the news outlet 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.)

FTSE Bursa Malaysia KLCI

Asia51d ago

JustCo Holdings Targets SG$100 Million in Singapore IPO

Singapore-headquartered flexible workspace operator JustCo Holdings is targeting to raise around SG$100 million through an initial public offering on the Singapore bourse, according to a company release on Friday.The company will offer around 32.1 million shares at SG$0.94 each, with cornerstone commitments of around SG$69.8 million representing 70% of the total amount.Meanwhile, the public offer will open on May 15 and will close on May 20, with the company slated to make its debut on the SGX-ST on May 22.The IPO and cornerstone issuance are expected to raise gross proceeds of about $100m million, the filing said.

^STISGX:JCO

Asia51d ago

Australian Shares Decline; Santos Achieves First Oil from Alaska Project

Australian shares declined on Monday as ⁠oil prices rose and the Strait of Hormuz remained closed.The S&P/ASX 200 Index fell 1.45%, or 125.50 points, to close at 8,505.30.Brent crude oil futures climbed to above $110 per barrel. The 30-year US Treasury yield rose to the highest point since 2023.On the domestic front, the Reserve Bank of Australia said Project Acacia, a research project led by the RBA and the Digital Finance Cooperative Research Center (DFCRC), revealed considerable industry interest in tokenization and showed potential to materially improve the efficiency and functioning of Australia's wholesale asset markets.In company news, Santos (ASX:STO) achieved first oil from the Pikka phase one development in Alaska. The phase one initiated production was part of the start-up and late-stage commissioning process, and it is expected to lead to an initial ramp-up to gross 20,000 barrels of oil per day over the next few weeks. Its shares rose 3% on market close.Tuas (ASX:TUA) said the Infocomm Media Development Authority of Singapore paused the review of the proposed acquisition of Singaporean telecommunications firm M1 by its Simba Telecom subsidiary. Its shares closed down 63%.Lastly, Brambles (ASX:BXB) lowered its forecast fiscal-year sales revenue growth to 2% to 3% from the previous 3% to 4% and underlying profit growth to 3% to 5% from 8% to 11%, reflecting about $60 million in earnings impact due to repair capacity constraints in parts of its US subcontracted service center network. Its shares fell 20% on market close.

ASX 200ASX:BXBASX:STOASX:TUA

Asia51d ago

Encounter Resources Posts Strong Niobium Recovery in Western Australia Project Metallurgical Tests, Shares Fall 7%

Encounter Resources (ASX:ENR) said metallurgical test work for the Green deposit within its Aileron Project in Western Australia has returned recoveries of 51% to 53% on representative head grades of 2.2% to 2.8% niobium pentoxide, according to a Monday Australian bourse filing.The company said the test work achieved up to 57% niobium pentoxide concentrate grade post refining, an industry-standard result, with the flowsheet and results comparable to existing niobium operations, the filing added.Next steps include test work to produce ferroniobium and niobium oxide, as well as optimization work targeting enhanced recoveries and concentrate grade, it added.The company's shares fell 7% in recent Monday trade.

ASX:ENR

Asia51d ago

Raymond Realty Incorporates Wholly Owned Subsidiary

Real estate developer Raymond Realty (NSE:RAYMONDREL, BOM:544420) incorporated a wholly owned subsidiary, Ten X Realty South Ltd., on May 15, according to an Indian bourse filing on Saturday.Shares of the company rose over 1% in Monday's trade.The subsidiary has been set up to undertake real estate projects, including redevelopment projects, and to mitigate project-specific risks, the filing said.Raymond Realty subscribed to 10,000 equity shares of 10 each in the new entity, it added.

BOM:544420NSE:RAYMONDREL

Asia51d ago

Market Chatter: Taiwan's CPC, Formosa to Keep Domestic Fuel Prices Unchanged

State-owned CPC Corp., Taiwan, and Formosa Petrochemical (TPE:6505) plan to keep domestic fuel prices unchanged this week for the seventh consecutive week, despite elevated global crude oil prices, the Taipei Times reported Monday.Retail prices remain unchanged: 92-octane gasoline at NT$32.4 per liter, 95-octane at NT$33.9, and 98-octane at NT$35.9. Diesel is priced at NT$31 per liter at CPC stations and NT$30.8 at Formosa outlets, the report said.The companies said the move supports inflation control and aligns with the government's pricing mechanism, which aims to keep local fuel below neighboring markets. CPC also reported ongoing losses on fuel sales, partly offset by a stronger Taiwan dollar, the news outlet 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.)

Taiwan Weighted

Asia51d ago

US Weighing Options for Action if Chinese Overcapacity Influences Exports, Trade Representative Says

U.S. government officials will present options for action to President Donald Trump if ongoing investigations show exports are being artificially influenced by Chinese industrial overcapacity, Trade Representative Jamieson Greer said on CBS."We'll certainly be presenting the president with those options if those investigations show what we think they might show, which is that there's a huge problem with overcapacity in China and other countries," Greer said on "Face the Nation" Sunday.Trade was among the issues both Trump and Xi discussed during their meeting in Beijing last week, with China saying both parties have agreed to reciprocal tariff cuts.Trump has rejigged his trade strategy after the U.S. Supreme Court struck down his tariffs in January, Bloomberg reported separately."I can't prejudge the outcomes of those investigations," which could authorize the president to take action such as tariffs, fees, and quotas, Greer said on CBS.

Shanghai Composite^SZSE

Asia51d ago

CVC Says New South Wales State Department Rejects Liverpool Planning Proposal

CVC (ASX:CVC) said the New South Wales Department of Planning, Housing and Infrastructure (DPHI) has determined that a planning proposal for the Liverpool project at 1 Heathcote Road will not proceed, citing structural and infrastructure constraints in the precinct, according to a Monday Australian bourse filing.The company holds a 66.7% interest in the LAC Unit Trust joint venture with Leamac Property Group, which has exercised a call option to purchase the property, expected to be settled in March 2027, the filing added.The board said it remains positive about the outcome, given that industrial and logistics assets in metropolitan Sydney continue to benefit from constrained supply, high occupier demand, and sustained rental growth, with the asset's carrying value considered materially below its current market value on an industrial basis.CVC and its joint venture partners will now actively pursue the optimal strategy for the property under its existing industrial zoning, per the filing.

ASX:CVC

Asia51d ago

Market Chatter: Maltese-flagged Crude Oil Vessel Heads for Vietnam

The Maltese-flagged crude-carrying supertanker Agios Fanourios I is on its way to Vietnam to offload Iraqi oil after being held by the U.S. Navy for five days in the Gulf of Oman, Reuters reported Monday, citing LSEG shipping data.The vessel departed the Strait of Hormuz on May 10 and later altered its route while sailing in the Gulf of Oman on May 11. It is expected to arrive at the Nghi Son refinery on May 30. It restarted its journey toward Vietnam on May 16, following the interruption.U.S. Central Command said the vessel was rerouted as part of ongoing enforcement operations related to the blockade on Iran, the new agency 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.)

^HNX^HOSE

Asia51d ago

Adani Power Incorporates Power Trading Subsidiary

Adani Power (NSE:ADANIPOWER, BOM:533096) incorporated a wholly owned subsidiary, Integrated Power Supply, on May 14, according to an Indian bourse filing on Sunday.Shares of the company fell nearly 1% in Monday's trade.The subsidiary has been set up to undertake electricity and energy trading activities, including acting as trader, agent and broker, the filing said.

BOM:533096NSE:ADANIPOWER

Asia51d ago

Garuda Construction's Consolidated Net Profit Climbs in Fiscal Q4; Shares Down 7%

Garuda Construction and Engineering's (NSE:GARUDA, BOM:544271) consolidated net profit rose to 344.6 million Indian rupees in the fiscal fourth quarter ended March 31 from 180.3 million rupees a year ago.Earnings per share climbed to 3.70 rupees from 1.94 rupees a year earlier, the construction company said in a filing to the Indian stock exchanges on Monday.Revenue from operations in fiscal Q4 jumped to 1.49 billion rupees from 815.8 million rupees a year ago.The company's shares were down nearly 7% in recent trade.

BOM:544271NSE:GARUDA

Asia51d ago

Market Chatter: Macquarie Group Moves to Align Policies With Proposed Negative Gearing Ban, AFR Says

Macquarie Group (ASX:MQG) instructed its mortgage broker network to revise lending policies in line with the federal government's proposed ban on negative gearing for existing properties, despite the measure not yet being enacted into law, according to a Monday report by the Australian Financial Review, citing a company spokesman.The company told its brokers it was developing a new borrowing calculator that incorporates the proposed changes, with the tool expected to be rolled out soon, the report added.The company's shares fell 3% on market close.(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.)

ASX:MQG

Asia51d ago

Yida China Logs 113 Million Yuan April Contracted Sales; Shares Drop 4%

Yida China (HKG:3639) recorded contracted sales of 113 million yuan in April, with a gross floor area (GFA) of 8,891 square meters, according to a May 15 Hong Kong bourse filing.Shares of the property developer were down 4% in Monday afternoon trade.The average selling price for the month was about 12,725 yuan per square meter.For the four months ended April 30, contracted sales and GFA reached roughly 150 million yuan and 11,438 square meters, respectively, with an average selling price of 13,121 yuan per square meter.

HKG:3639

Asia51d ago

Grace Fabric Technology Applies for Hong Kong Listing

Grace Fabric Technology (SHA:603256) applied to list its H-shares on the Hong Kong Stock Exchange's Main Board.Grace noted the listing remains subject to approvals from Chinese and Hong Kong regulators, according to a Monday filing with the Shanghai bourse.Shares of the glass fabric products company declined 1% in recent trade.

Hang SengSHA:603256

Asia51d ago

Velesto Energy Unit Bags Drilling Contract from Hibiscus Petroleum; Velesto Shares Gain 3%

Velesto Energy (KLSE:VELESTO) unit Velesto Drilling secured a drilling contract from Hibiscus Petroleum (KLSE:HIBISCS) for its offshore campaign, according to a Friday Malaysian bourse filing.Velesto's shares rose 3% while those of Hibiscus Petroleum climbed 2% in Monday's midday trade.The scope includes drilling services for eight plug and abandonment wells and one exploration well, with up to seven optional wells.Operations are scheduled to begin in May across the PM3 CAA oil and gas field and potentially North Sabah, Malaysia, if optional wells are exercised, the company said.

KLSE:HIBISCSKLSE:VELESTO

Asia51d ago

Xizang Zhihui Mining Wins China Nod for H-Share Full Circulation Proposal

Xizang Zhihui Mining (HKG:2546) said the China Securities Regulatory Commission accepted its Hong Kong share full circulation application, according to a May 15 Hong Kong bourse filing.Shares of the mining company were up nearly 5% in Monday's afternoon trade.The filing covers the conversion of about 365.9 million domestic shares held by three shareholders into Hong Kong-listed shares.The shares represent 75% of the company's total issued share capital upon completion of the conversion, the filing said.Details of the conversion and listing plan have not yet been finalized.

HKG:2546

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