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NZX Midday Sector Update: Distribution Services Rise, Non-Energy Minerals Fall

Distribution services shares rose the most on New Zealand's Exchange, gaining past 5% on Monday.Shares of Steel & Tube Holdings (NZE:STU) rose almost 4% in recent trade.Meanwhile, non-energy minerals shares fell almost 1%.Fletcher Building (NZE:FBU, ASX:FBU) was down nearly 2% in recent trade.

^NZ50ASX:FBUNZE:FBUNZE:STU

Asia3d ago

Market Chatter: Nippon Life to Allot 2 Trillion Yen in Data Center Financing

Nippon Life Insurance intends to commit 2 trillion yen to infrastructure financing, mainly for U.S. data center construction, Nikkei Asia reported Sunday, citing Akira Shibata, head of structured finance sales.The insurer will use project finance structures, where repayment comes from the backed projects' revenue. Nippon Life is also considering loans for Japanese data centers by the end of fiscal 2026, though the U.S. remains its top priority, the news daily said.The company held about 1 trillion yen in outstanding loans as of March and aims to double that by fiscal 2035 by adding projects faster than repayments, the report said.Shibata said U.S. project finance offers appealing spreads averaging over 2%, while also helping diversify the insurer's investment portfolio, 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.)

Nikkei 225

Asia3d ago

Pursuit Minerals Says Diamond Drilling Begins at Newly Acquired Tenement in Argentina Lithium Project

Pursuit Minerals (ASX:PUR) said diamond drilling began at the DDH-4 drill hole within the newly acquired Demasía tenement at its Rio Grande Sur lithium project in Argentina, targeting potential extensions of lithium-bearing brines, according to a Monday Australian bourse filing.DDH-4 is planned to be around 500 meters in depth and represents the first drill hole undertaken by Pursuit at Demasía. Drilling at Demasía follows the completion of DDH-3 at Mito to around 560 meters.

ASX:PUR

Asia3d ago

RoboTechnik Intelligent Technology Launches HK$5.2 Billion Hong Kong IPO

RoboTechnik Intelligent Technology (HKG:3757, SHE:300757) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$5.18 billion.The China-based manufacturing equipment and systems provider is offering 11.9 million H shares at a maximum price of HK$436 each, according to a Hong Kong bourse filing.The offering comprises 1.2 million shares for Hong Kong investors and 10.7 million shares for international investors, subject to reallocation, offer size adjustments, and over-allotment options.The offer price is expected to be determined by Sept. 25, with allocation results due by Sept. 28, ahead of the company's planned trading debut on Sept. 29.The IPO has 18 cornerstone investors, including Temasek, Sunpeak Asset, IvyRock, E Fund and Lai Pak Lam, which have committed to subscribe for a combined $232.4 million worth of shares.Net proceeds will be used mainly to expand production capacity and improve delivery speed, enhance product and technology R&D and innovation, and fund strategic investments and acquisitions.The company also plans to build a global sales and service network, with the remaining proceeds allocated to working capital and general corporate purposes.Huatai Financial (Hong Kong), Citigroup Global Markets Asia and Orient Capital (Hong Kong) are acting as joint sponsors.Huatai Financial (Hong Kong), Citigroup Global Markets Asia and Orient Securities (Hong Kong) are serving as sponsor-overall coordinators, overall coordinators and joint global coordinators.

HKG:3757SHE:300757

Asia3d ago

Tata Electronics, Sojitz, NRS Ink Supply Chain Deal for Dholera Chip Fab

Tata Electronics, Japan's Sojitz (TYO:2768), and NRS have signed a memorandum of understanding to develop a supply chain for critical semiconductor materials, according to a Friday statement from Tata Electronics.The partnership will support Tata's upcoming 910 billion Indian rupee semiconductor fabrication plant in Dholera, Gujarat.Under the agreement, Sojitz and NRS will explore and validate a supply chain management framework to support a semiconductor materials ecosystem for the Dholera fab.

TYO:2768

Asia3d ago

Perpetual Resources Executes Diamond Drilling Contract for Brazil Lithium Project, Shares Jump 7%

Perpetual Resources (ASX:PEC) executed a diamond drilling contract with ServDrill Brazil for a 1,500-meter drilling program at the Igrejinha lithium project in Brazil, according to a Monday Australian bourse filing.The drill rig, crew, and associated equipment are currently mobilizing to site, with drilling expected to begin in the coming days. The program comprises around 22 diamond holes across the Mauricio and Morro Grande prospects.Its shares jumped 7% in recent trading on Monday.

ASX:PEC

Asia3d ago

Right Resources Starts Maiden Air-Core Drilling at New South Wales Prospect

Right Resources (ASX:RRE) started maiden air-core drilling at the Blue prospect in New South Wales, according to a Monday filing with the Australian bourse.The first-stage program comprises roughly 2,000 meters across around 60 air-core holes and will provide the first subsurface test of six tungsten and five gold soil anomalies identified through surface exploration completed this year, the filing said.Assay results are expected to be released progressively in the December quarter, per the filing.

ASX:RRE

Asia3d ago

BPM Minerals Says Maiden Reverse Circulation Drilling Program Begins at Western Australia Prospect

BPM Minerals (ASX:BPM) said a maiden reverse circulation drilling program began at the Bonnie & Clyde prospect, within the Forelands gold project in Western Australia, according to a Monday Australian bourse filing.The program comprises 65 drill holes for 10,000 meters of reverse circulation drilling. Bonnie & Clyde is a six-kilometer-long gold-in-soil anomaly.Its shares fell 2% in recent trading on Monday.

ASX:BPM

Asia3d ago

Chinese Shares Open Higher as PBOC Holds Rates Steady

Chinese shares opened higher in Monday trading after the country's central bank opted to keep its benchmark lending rates at record lows, extending a holding pattern that matched market expectations.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.2% to 3,920.27. The Shenzhen Component Index climbed 0.6% to 13,716.22.The gains follow the People's Bank of China's monthly rate fixing on Sunday, where policymakers held the one-year loan prime rate (LPR) -- the benchmark for most corporate and household loans -- steady at 3%.The five-year LPR, which serves as the primary reference rate for residential mortgages, was also maintained at 3.5%.

Shanghai Composite^SZSE

Asia3d ago

Orthocell Achieves First Commercial Sales of Nerve Repair Product in Thailand

Orthocell (ASX:OCC) achieved the first commercial sales of its nerve repair product, Remplir, in Thailand, according to a Monday Australian bourse filing.This follows the appointment of MediTime as the company's exclusive in-country distributor for Remplir in the country. Orthocel is supporting the launch and is working with MediTime to train representatives and build engagement.Its shares rose 2% in recent trading on Monday.

ASX:OCC

Asia3d ago

Ennostar Unit Acquires 0.97% Stake in AUO Corp.

Semiconductor and optoelectronics company Ennostar's (TPE:3714) unit, Ennostar Corp., has acquired 73.1 million shares in display panel maker AUO Corp. (TPE:2409), according to a Friday filing to the Taiwan stock exchange.The shares were purchased on the open market between March 9 and Sept. 18 at an average price of NT$20.48 per share.Following the acquisition, Ennostar now holds a 0.97% stake in AUO.

TPE:2409TPE:3714

Asia3d ago

Antipa Minerals Identifies High-Grade Gold-Copper Mineralization at Western Australia Project

Antipa Minerals (ASX:AZY) reported the fourth batch of assay results from phase 1 drilling at its Minyari gold-copper project in Western Australia, according to a Monday Australian bourse filing.The results were up to 30 meters at 0.5 grams per tonne gold from 180 meters, including three meters at 1.7 g/t gold from 189 meters and one meter at 3.5 g/t gold from 202 meters.Drilling has intersected further broad gold, copper, lead and silver mineralization across a 2.2-kilometer strike, including six holes above and near a large, untested electromagnetic conductor. Two rigs remain active at Tim's Dome and Minyari Dome, the filing added.The company's shares rose 2% in recent Monday trade.

ASX:AZY

Asia3d ago

Market Chatter: Legend Holdings Launches Sale of 90% Stake in Luxembourg Bank BIL

Legend Holdings (HKG:3396) has started seeking buyers for its 90% stake in Banque Internationale à Luxembourg, the Financial Times reported.Goldman Sachs is advising on the sale, with initial bids due by the end of September. The lender could be valued at about 2.5 billion euros or more, according to the report.Interest from European and Middle Eastern institutions is in its early stages, while some potential buyers may be interested only in parts of the business. There is no certainty a deal will be reached, the FT reported.Banque Internationale à Luxembourg and Goldman Sachs did not immediately respond to' request for comment.(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.)

HKG:3396

Asia3d ago

Wildcat Resources to Raise AU$60 Million via Share Placement; Shares Down 12%

Wildcat Resources (ASX:WC8) received firm commitments to raise AU$60 million through the issue of about 196.7 million new shares at AU$0.305 apiece, according to a Monday filing with the Australian bourse.In tranche one, 183.6 million shares will be issued, while 13.1 million shares will be issued in tranche two, subject to shareholder approval, the filing said.Proceeds will be used to advance early works for the Tabba Tabba project in Western Australia, per the filing.Shares fell 12% in morning trade Monday.

ASX:WC8

Asia3d ago

American Tungsten & Antimony Produces First Antimony Ingot Using US-Mined Material, Shares Up 4%

American Tungsten & Antimony (ASX:AT4) produced antimony ingot at the Del Sol Hydromet Refinery in Nevada using material from the White Spar Antimony Mine in Arizona, according to a Monday Australian bourse filing.The company said the production demonstrates the mine-to-metal process across the White Spar and Del Sol assets proposed to be acquired by AT4.Physical product samples enable AT4 to progress qualification activities and advance discussions with prospective offtakers, defense contractors and US government agencies, per the filing.The company's shares rose 4% in recent Monday trade.

ASX:AT4

Asia3d ago

Hong Kong Stocks Open Flat As Trump-Xi Meeting Inches Closer

Hong Kong stocks traded flat at the start of Monday's trading session, shrugging off last week's central bank rate hike and bracing for the highly anticipated summit between US President Donald Trump and Chinese President Xi Jinping.The Hang Seng Index opened marginally lower at 24,748.45. The Hang Seng China Enterprises Index barely moved, opening 4.06 points higher to 8,229.46.Investors will be closely watching the meeting between the two geopolitical leaders, scheduled for Thursday in Washington, on matters including technology, trade, and tensions in the Middle East.In the lead-up to the main event, U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng over the weekend discussed holding a "U.S.-China AI Dialogue," with the U.S. suggesting the two nations adopt a notification-style setup to warn each other about AI incidents.

Hang Seng

Asia3d ago

Update: Perpetual Limited Rejects Further Revised Takeover Proposal From EQT, Shares Plunge 13%

(Update to add stock movement to the headline and the fourth paragraph)Perpetual Limited (ASX:PPT) confirmed the conclusion of the engagement process with EQT after rejecting a further revised proposal from Windflower, an entity indirectly controlled by EQT, to acquire all of the shares in the company through a scheme of arrangement for AU$22.50 apiece, according to a Monday filing with the Australian bourse.Under the revised proposal, the board may declare and pay a dividend for the half-year period to Dec. 31 of up to AU$0.60 per share without any adjustment to the AU$22.50 scheme consideration, the filing said.The board also said that the scheme consideration is the same price offered by EQT in its earlier proposal that it determined was not in the best interests of shareholders, per the filing.Perpetual's shares fell 13% in recent trading on Monday.

ASX:PPT

Asia3d ago

JAL, Climeworks Strike Carbon Removal Deal

Japan Airlines (TYO:9201) and Climeworks Solutions have signed a purchase agreement for carbon dioxide removal (CDR) credits designed to meet International Civil Aviation Organization's (ICAO) CORSIA requirements.CORSIA is a carbon offsetting and reduction scheme for international aviation.The agreement allows the Japanese carrier to address residual emissions that cannot be cut directly, complementing its broader sustainability push into fleet renewal and Sustainable Aviation Fuel, among others.Under the deal, Climeworks will provide carbon removal credits that qualify under CORSIA rules, while JAL will also buy Climeworks' proprietary Direct Air Capture credits to back engineered removal technologies.

TYO:9201

Asia3d ago

Catalyst Metals Says Western Australia Deposit Mineral Resource Grows by 370%

Catalyst Metals (ASX:CYL) said the mineral resource estimate for the Cinnamon deposit, located on the Plutonic gold belt in Western Australia, grew by 370% to 6.9 million tonnes at 2.5 grams per tonne for 541,000 ounces, according to a Monday Australian bourse filing.This includes an open pit and underground resource of 2.9 million tonnes at 1.2 g/t for 108,000 ounces and 4 million tonnes at 3.4 g/t for 434,000 ounces, respectively. Upfront capital costs for the underground development are estimated at AU$35 million.Its maiden underground ore reserve of 232,000 ounces at 3 g/t underpins a life of mine production target with a 7.5-year mine life, reaching steady state production of 40,000 ounces per annum to 50,000 ounces per annum. Life of mine all-in sustaining costs are estimated at AU$2,357 per ounce.Metallurgical test work completed on Cinnamon mineralization indicates gold recoveries of 90% for the underground and 92% for the open pit.Its shares rose 1% in recent trading on Monday.

ASX:CYL

Asia3d ago

EQT Holdings Says TPG, BGH Proposals Undervalue Equity Trustees, Opens Door to Improved Offers

EQT Holdings (ASX:EQT) said its board has concluded that the offer prices proposed separately by TPG Global and BGH Capital do not adequately reflect the value of Equity Trustees, though it is prepared to engage with both parties, according to a Monday Australian bourse filing.The company said the board has offered each party the opportunity to receive substantive non-public information to enable an improved proposal, subject to entering into an appropriate confidentiality deed including a standstill, with a draft already provided to both TPG and BGH.TPG and BGH have each indicated that their indicative offer prices will not be reduced by EQT's fiscal 2026 final dividend of AU$0.20 per share disclosed on Aug. 27, and have confirmed their proposals are not conditional on Equity Trustees exiting its Superannuation Trustee Services business or the conclusion of ASIC litigation, the filing added.The company's shares fell 1% in recent Monday trade.

ASX:EQT

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