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GemPharmatech Appoints CFO

GemPharmatech (SHA:688046) appointed deputy chief financial officer Liu Yekun as CFO, succeeding Wang Yi'ou.Wang resigned as CFO, but will continue to serve as board secretary, according to a Thursday filing with the Shanghai bourse.Shares of the genetically engineered mouse model provider closed 2% higher Thursday.

SHA:688046

Asia53d ago

Market Chatter: Elon Musk Looks to Accomplish 'Many Good Things' in China Trip

Tesla CEO Elon Musk is looking to "accomplish many good things" during U.S. President Donald Trump's visit to China this week, Reuters reported Thursday.Musk's remarks to reporters during his visit to China come as Chinese officials and the public seem to have a love-hate relationship with him and his products, the report said.Chinese regulators see him as a visionary, as his products, including his electric cars, align with Beijing's vision, but his products are also the subject of numerous customer complaints, according to the report.Musk's SpaceX and Starlink satellite internet also raised eyebrows from China's People's Liberation Army, according to Reuters.Musk joined the delegation of CEOs accompanying Trump to Beijing seeking to resolve issues with the Chinese government, 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.)

Shanghai Composite^SZSE

Asia53d ago

Public Bank's Profit Remains Steady in Q1 as Loans, Deposits Expand

Public Bank (KLSE:PBBANK) booked a net profit attributable to owners of 1.75 billion ringgit, up 0.4% from a year prior, according to a Thursday Malaysian bourse filing.The lender attributed the profit to steady loan and deposit expansion, alongside improved non-interest income, while maintaining strong asset quality with a gross impaired loans ratio of 0.51% and robust capital ratios.Loans grew at an annualized pace of 5.7% to 452.1 billion ringgit, while and deposits expanded 5.3% to 453.1 billion ringgit.Return on equity stood at 12% and cost efficiency stood at 35.5%, the bank said.

KLSE:PBBANK

Asia53d ago

StanChart Buys Back Shares

Standard Chartered (HKG:2888) repurchased 801,239 shares on Wednesday at an average price of 18.72 pounds sterling apiece, according to a Thursday filing with the Hong Kong bourse.The British lender plans to cancel the shares, following which it will have about 2.21 billion shares in issue.

HKG:2888

Asia53d ago

Jefferies Adjusts Hindustan Petroleum's Price Target to INR275 from INR305, Keeps at Underperform

Hindustan Petroleum (NSE:HINDPETRO, BOM:500104) has an average rating of hold and mean price target of 413.71 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

BOM:500104NSE:HINDPETRO

Asia53d ago

Tilaknagar Gets Approval to Start Operations of Arm's Expanded Capacity

Prag Distillery, a wholly-owned subsidiary of liquor manufacturer Tilaknagar Industries (NSE:TI, BOM:507205), received the required approvals from the government of Andhra Pradesh to begin production at its expanded facility in the Indian state, according to a Thursday filing to the Indian bourses.With this expansion, the bottling capacity in Prag will increase sixfold to 3.6 million cases per annum from 600,000 cases per annum currentlyIn 2025, the company's board approved an investment of 590 million Indian rupees for Prag's capacity expansion.The increased capacity will help the company to meet nearly 50% of its volume requirements in Andhra Pradesh.The company's shares were trading over 1% lower in recent trade.

BOM:507205NSE:TI

Asia53d ago

Hong Kong Stocks Flat as Investors Monitor Trump-Xi Summit; New World Development Slips

Hong Kong stocks were broadly unchanged Thursday, as investors await further developments from the summit between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.The Hang Seng Index ended flat in positive territory at 26,389.04, while the Hang Seng China Enterprises Index slipped 0.2%, or 17.75 points, to finish at 8,858.63.During the opening session of the two-day summit, Xi said trade discussions were progressing while warning that differences over Taiwan could strain bilateral ties, according to state media reports.He also described relations with the United States as entering a "new positioning," state broadcaster CCTV reported.Xi added that both leaders agreed that a constructive and strategically stable relationship would help guide bilateral ties in the coming years, although few details of the talks were disclosed.The conflict involving Iran is also expected to feature in discussions between the two leaders.In corporate news, New World Development (HKG:0017) closed over 4% lower after saying discussions with Airport Authority Hong Kong on potential changes to contractual arrangements for its 11 Skies project remain ongoing, with no agreement reached.Earlier, the South China Morning Post reported that the Airport Authority had taken over retail operations at the project ahead of the opening of Terminal 2 at Hong Kong International Airport.

Hang SengHKG:0017

Asia53d ago

Jefferies Adjusts Crompton Greaves Consumer Electricals' Price Target to INR330 From INR290, Keeps at Buy

Crompton Greaves Consumer Electricals (NSE:CROMPTON, BOM:539876) has an average rating of buy and mean price target of 339.19 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

BOM:539876NSE:CROMPTON

Asia53d ago

Sundaram-Clayton's Consolidated Profit Triples in Fiscal Q4; Shares Up 3%

Sundaram-Clayton's (NSE:SUNCLAY, BOM:544066) attributable consolidated profit tripled to 4.26 billion rupees in the fiscal fourth quarter ended March 31, from 1.44 billion rupees a year ago.Earnings per share jumped to 193.42 rupees compared with 68.03 rupees a year earlier, according to a Tuesday filing to the Indian stock exchanges by the auto components company.Revenue from operations in fiscal Q4, however, declined to 5.18 billion rupees from 5.87 billion rupees a year earlier.The company's shares were up nearly 3% in recent trade.

BOM:544066NSE:SUNCLAY

Asia53d ago

Nomura Adjusts TVS Motor's Price Target to INR4,105 From INR4,159, Keeps at Buy

TVS Motor (NSE:TVSMOTOR, BOM:532343) has an average rating of overweight and mean price target of 3,970.49 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

BOM:532343NSE:TVSMOTOR

Asia53d ago

Nomura Adjusts Crompton Greaves Consumer Electricals' Price Target to INR335 From INR318, Keeps at Buy

BOM:539876NSE:CROMPTON

Asia53d ago

Hindustan Aeronautics Posts Higher Consolidated Profit in Fiscal Q4

Hindustan Aeronautics (NSE:HAL, BOM:541154) reported an increase in its consolidated attributable profit to 42.0 billion Indian rupees in the fiscal fourth quarter ended March 31, against 39.8 billion rupees a year ago.Earnings per share climbed to 62.74 rupees compared with the year-ago figure of 59.46 rupees, according to a Thursday filing to the Indian stock exchanges.Revenue from operations in fiscal Q4 increased to 139.4 billion rupees from 137.0 billion rupees a year earlier.The company's shares were up over 2% in recent trade.

BOM:541154NSE:HAL

Asia53d ago

Lao Feng Xiang Unit Receives Nearly 132 Million Shares in Debt Settlement

Lao Feng Xiang (SHA:600612) unit Lao Feng Xiang Pawn received 131.7 million ordinary Class B shares in a reorganization service trust established for debtor Yibang Real Estate.The trust, set up to avoid bankruptcy liquidation losses, holds Yibang Real Estate's assets, according to a Thursday filing with the Shanghai bourse.No trust distributions have occurred yet.Lao Feng Xiang Pawn initially sued Yibang Real Estate and its guarantor in September 2019 for repayment.Shares of the jewelry company closed 1% lower Thursday.

SHA:600612

Asia53d ago

South Korean Stocks Close Higher as Investors Eye US-China Talks

South Korean shares closed higher on Thursday, as investors closely followed the ongoing U.S.-China talks in Beijing.The Korea Composite Stock Price Index or Kospi increased by 137.4 points, or 1.8%, to end at 7,981.41. The Kosdaq declined by 14.16 points, or 1.2%, to close at 1,191.09.In economic news, South Korea's money supply increased in March, as the broad money, or M2, rose 0.4% to 4,132.1 trillion won from 4,113.6 trillion won a month earlier, the Bank of Korea said.The country's narrow money, or M1, increased 0.7% to 1,368.7 trillion won from 1,358.6 trillion won in February.In corporate news, Samsung Fire & Marine Insurance (KRX:000810) closed 8% higher after posting first-quarter net income of 634.7 billion won, up 4.4% from 608.1 billion won a year earlier.

^KOSDAQKOSPI

Asia53d ago

Market Chatter: Indonesia Addresses Chinese Investors' Concerns Over New Policies

Indonesia's Finance Minister has moved to reassure Chinese investors following a formal complaint over tightening regulatory policies, The Jakarta Globe reported.The China Chamber of Commerce recently issued a letter to Indonesian President Prabowo Subianto, highlighting worries over various policies, including mining royalties, nickel ore quota, forestry regulations, and EV incentives, which Chinese firms believe are affecting their operations in the country.Chinese companies, in particular, raised concerns about a planned policy under which natural resource exporters would be mandated to place 50% of export proceeds in state-owned lenders for a minimum of one year, the newswire said.Finance Minister Purbaya Yudhi Sadewa clarified that the policy, becoming effective June 1, will have exemptions in place to avoid burdening companies with operations in Indonesia, The Jakarta Globe reported."If companies do not borrow money in Indonesia, they can be exempted from the foreign exchange retention requirement," Purbaya said Wednesday, reassuring that exceptions to policy requirements exist, according to the report.Policies about mineral resource royalties are also under consideration and will ensure the best interest of all stakeholders, Purbaya went on to say.On the other hand, Indonesia shared concerns regarding certain Chinese firms operating in the country illegally and received reassurance that warnings will be issued to such entities.(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.)

^JKSE

Asia53d ago

Zhejiang Jingu Gets Auto Parts Order from Heavy-Duty Truck Maker

Zhejiang Jingu (SHE:002488) received an order to supply components to a heavy-duty truck manufacturer, according to a Thursday disclosure on the Shenzhen bourse.Jingu will provide Avatar low-carbon wheel products for the client's flagship heavy-duty truck models.The Chinese steel wheel manufacturer's shares fell 2% at the close.

SHE:002488

Asia53d ago

China Stocks Fall as Investors Await Outcome of Trump-Xi Summit

Chinese stocks slid Thursday as investors await more developments from the meeting between Presidents Xi Jinping and Donald Trump in Beijing.The Shanghai Composite Index, the main gauge of Chinese stocks, lost 1.5%, or 64.65 points, to 4,177.92. The Shenzhen Component Index declined 2.1% or by 344.01 points to 15,745.74.While Trump was singing the praises of his Chinese counterpart, Xi was more stern, even cautioning Trump of his handling of Taiwan relations, the Associated Press reported Thursday.Xi said Washington should handle the Taiwan question with more care, or it could lead to "conflicts" that would put "the entire relationship in great jeopardy," Xinhua News Agency reported.During welcome remarks earlier, Xi called on Trump to "build a brighter future" together, as the two countries are "partners, not rivals," and said the meeting should open a new chapter in their bilateral relations.While the meeting is ongoing, investors largely forecast both leaders to keep trade tensions in the backseat to focus on artificial intelligence, Reuters reported."Investors aren't positioned for a positive surprise - meaning even a modest outcome could boost sentiment," the newswire quoted Syfe Group Head of Investments and Advisory Ritesh Ganeriwal.The renminbi edged up to a three-year high on Thursday after the People's Bank of China set the midpoint at 6.8401 yuan per dollar, the strongest since March 24, 2023, Reuters said."Beijing is adopting a wait-and-see mode, given the 'better than expected' first-quarter (economic) growth ... Beijing's focus for the summit is not on deliverables but on optics, aiming to project stability and predictability to both international and domestic audiences," Retuers quoted Macquarie (ASX:MQG) Chief China Economist Larry Hu as saying.In corporate news, BeOne Medicines (SHA:688235) plunged 4% during market close in Shanghai after the U.S. Food and Drug Administration granted accelerated approval to Beqalzi to treat a type of rare blood cancer.

Shanghai Composite^SZSEASX:MQGSHA:688235

Asia53d ago

Zhejiang Jingu Gets Parts Order from Automaker

Zhejiang Jingu (SHE:002488) received an order to supply components to a domestic automobile manufacturer, according to a Thursday disclosure on the Shenzhen bourse.The client will use the components to develop Avatar wheel products for its passenger vehicles.The Chinese steel wheel manufacturer's shares fell 2% at the close.

SHE:002488

Asia53d ago

Hansoh Pharma Gets China Nod for Trial of Tumor Drug

Hansoh Pharmaceutical's (HKG:3692) obtained clinical trial approval for its HS-10541 tablets from China's National Medical Products Administration, according to a Wednesday Hong Kong bourse filing.Shares of the pharma firm were down over 1% in Thursday afternoon trading.The trial will study the drug for the treatment of patients with KRAS G12C-mutated advanced solid tumors.

HKG:3692

Asia53d ago

Kehua Bio-Engineering's Unit Gets Registration Certificate for Metapneumovirus Nucleic Acid Kit

Shanghai Kehua Bio-Engineering's (SHE:002022) unit, Suzhou Tianlong Biotechnology, received a medical device registration certificate from China's National Medical Products Administration for a swab kit for metapneumovirus nucleic acid, according to a Shenzhen bourse filing on Thursday.The certificate for the human metapneumovirus nucleic acid detection kit is valid until May 10, 2031.The Chinese in vitro diagnostics company's shares fell 2% during the afternoon trade.

SHE:002022

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Asia53d ago

China Stocks Fall as Investors Await Outcome of Trump-Xi Summit

Shanghai Composite^SZSEASX:MQGSHA:688235