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Xinhua Pharmaceutical Gets China Nod to Market Parkinson's Drug

Shandong Xinhua Pharmaceutical (HKG:0719, SHE:000756) obtained approval to market Benserazide Hydrochloride from China's National Medical Products Administration, according to a Friday Hong Kong bourse filing.Benserazide hydrochloride tablets, combined with Levodopa, are used to treat Parkinson's disease and symptomatic Parkinsonism.

HKG:0719SHE:000756

Asia57d ago

Jefferies Adjusts One 97 Communications' Price Target to INR1,450 From INR1,350, Keeps at Buy

One 97 Communications (NSE:PAYTM, BOM:543396) has an average rating of overweight and mean price target of 1,365.10 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:543396NSE:PAYTM

Asia57d ago

Lion AsiaPac Narrows Attributable in Fiscal Q3 as Revenue Surges 25%

Lion AsiaPac (SGX:BAZ) narrowed its attributable loss to equity holders by 38% in the fiscal third quarter ended March 31 to SG$280,000, from SG$453,000 a year earlier, according to a Friday filing with the Singapore Exchange.Loss per share from continuing operations stood at SG$0.0035, compared with SG$0.0037 in the year-ago period.The roofing solutions company's revenue surged 25% year over year to SG$4.4 million from SG$3.5 million.

SGX:BAZ

Asia57d ago

Paisalo Digital Allots Commercial Papers Worth INR350 Million

Paisalo Digital (NSE:PAISALO, BOM:532900) allotted commercial papers worth 350 million Indian rupees to Bank of Maharashtra (NSE:MAHABANK, BOM:532525) on a private placement basis, according to a Friday filing to the Indian stock exchanges.The company allotted 700 commercial papers of 500,000 rupees each at an issue price of 479,430.50 rupees.The commercial papers will mature in 180 days on Nov. 4.

BOM:532525BOM:532900NSE:MAHABANKNSE:PAISALO

Asia57d ago

State Bank of India's Consolidated Net Profit Rises in Fiscal Q4; Shares Slip 6%

State Bank of India's (NSE:SBIN, BOM:500112) consolidated net profit rose to 196.4 billion rupees in the fiscal fourth quarter ended March 31, from 195.0 billion rupees a year ago.Earnings per share came in at 21.28 rupees from 21.96 rupees a year ago, according to a Friday filing to the Indian stock exchanges.Interest earned by the lender in fiscal Q4 also increased to 1.310 trillion rupees from 1.268 trillion rupees a year ago.The bank's board declared a dividend of 17.35 rupees per equity share for the financial year ended March 31, to be paid on June 4.The lender's shares were down over 6% in recent trade.

BOM:500112NSE:SBIN

Asia57d ago

Hubei Energy Logs Marginal Rise in April Power Output

Hubei Energy's (SHE:000883) generated 3.37 billion kilowatt-hours in April, inching up 0.4% from the previous year, according to a Friday filing with the Shenzhen bourse.Hydropower production surged 157% year over year to 1.59 billion kWh, while thermal power production fell 44% to 1.10 billion kWh.New energy power production declined 12% to 681 million kWh.

SHE:002488

Asia57d ago

East China Engineering Science and Technology Subsidiary Defaults on Loans Due to Government Non-Payment

East China Engineering Science and Technology (SHE:002140) 97%-owned subsidiary Weng'an Donghua defaulted on 56.8 million yuan in principal and 3.0 million yuan in interest payments due May 4.The default stemmed from the local government party's failure to pay service fees for the Caotang "Twelve Ponds" landscape project in Guizhou Province, according to a Friday filing with the Shenzhen bourse.The company said it will urge Weng'an Donghua to seek a loan extension and pursue legal action against the government party.The subsidiary faces potential penalties and asset freeze risks.Shares of the engineering services provider closed 9% lower Friday.

SHE:002140

Asia57d ago

Jefferies Adjusts Bharat Forge's Price Target to INR2,500 From INR2,150, Keeps at Buy

Bharat Forge (NSE:BHARATFORG, BOM:500493) has an average rating of hold and mean price target of 1,768.32 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:500493NSE:BHARATFORG

Asia57d ago

Jefferies Adjusts Nari Technology's Price Target to 28 Yuan From 26 Yuan, Keeps at Hold

Nari Technology (SHA:600406) has an average rating of overweight and mean price target of 30.16 yuan, 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)

SHA:600406

Asia57d ago

Singapore Shares Crash as Middle East Tensions Weigh; OCBC Gains on Steady Q1 Growth

Singapore shares closed in negative territory on Friday, joining a regional retreat as investors reacted to news of the latest military strikes between the U.S. and Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,895.09 and 4,939.10 throughout the day. It ended the session at 4,921.90, down 20.06 points or 0.4% compared to Thursday's close.According to Iranian news agencies, explosions were heard near the city of Bandar Abbas, with the Tehran regime responding by attacking US military vessels.On the corporate front, Oversea-Chinese Banking Corp. or OCBC's (SGX:O39) net profit attributable to equity holders rose 5% in the first quarter of the year to SG$1.97 billion from SG$1.88 billion a year earlier. Its shares were marginally up at the close.Shares of AvePoint (SGX:AVP) were up nearly 2% at the close as it booked a higher net income of $15.3 million during the first quarter of the year compared with $3.6 million a year earlier.Meanwhile, shares of Frasers Property (SGX:TQ5) closed nearly 3% lower, as its attributable profit to owners dropped by 38% during the fiscal first half ended March 31 to SG$88.4 million from SG$142.2 million a year earlier.

^STISGX:AVPSGX:O39SGX:TQ5

Asia57d ago

Jefferies Adjusts BSE's Price Target to INR3,620 From INR3,330, Keeps at Hold

BSE (NSE:BSE) has an average rating of overweight and mean price target of 3,534.27 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)

NSE:BSE

Asia57d ago

Trident Lifeline's Consolidated Net Profit Jumps in Fiscal H2; Shares Soar 10%

Trident Lifeline's (BOM:543616) consolidated net profit increased to 114.4 million Indian rupees in the fiscal second half from 63.3 million rupees a year ago, according to an Indian bourse filing on Thursday.Shares of the company soared over 10% in Friday's trade.Earnings per share in the fiscal half ended March 31 climbed to 9.45 rupees from 6.32 rupees a year earlier.The pharmaceutical company's net sales jumped year on year to 756.6 million rupees from 496.2 million rupees, the filing said.

BOM:543616

Asia57d ago

Nomura Adjusts SK Telecom's Price Target to KRW89,000 From KRW51,000, Keeps at Neutral

SK Telecom (KRX:017670) has an average rating of overweight and mean price target of 91,312.50 won, 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)

KRX:017670

Asia57d ago

Nomura Adjusts Kakao's Price Target to KRW45,000 From KRW59,000, Keeps at Neutral

Kakao (KRX:035720) has an average rating of buy and mean price target of 72,571.43 won, 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)

KRX:035720

Asia57d ago

Powerlong Logs 640 Million Yuan in April Contracted Sales

Powerlong Real Estate (HKG:1238) recorded contracted sales of 640 million yuan in April, with a sales area of 64,684 square meters.For the four months ended April 30, contracted sales and sales area reached roughly 2.19 billion yuan and 198,858 square meters, respectively, according to a Friday Hong Kong bourse filing.

HKG:1238

Asia57d ago

Nomura Adjusts HD Hyundai Heavy Industries' Price Target to KRW640,000 From KRW350,000, Keeps at Reduce

HD Hyundai Heavy Industries (KRX:329180) has an average rating of buy and mean price target of 816,400 won, 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)

KRX:329180

Asia57d ago

Nomura Adjusts LIG Defense & Aerospace's Price Target to KRW1,200,000 From KRW650,000, Keeps at Buy

LIG Defense & Aerospace (KRX:079550) has an average rating of buy and mean price target of 967,058.80 won, 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)

KRX:079550

Asia57d ago

Malaysian Shares Snap Five-Day Winning Streak, Mirroring Regional Losses

Malaysian shares closed lower on Friday, halting a five-day winning streak, mirroring a weak regional trend as investors locked in profits.The FTSE Bursa Malaysia KLCI shed 10.79 points to end 0.6% lower at 1,748.06. The day range was between 1,748.06 and 1,760.19.In economic news, Malaysia's Industrial Production Index rose 3.1% year on year in March, maintaining the same growth in the month prior, according to data released by the Department of Statistics Malaysia (DOSM). The increase was supported by stronger manufacturing activity, which expanded 5.5% compared with 4.2% in the previous month, alongside a 4.9% increase in electricity output.Meanwhile, Malaysia's Services Producer Price Index rose 2.1% year on year in the first quarter, accelerating from a 1% rise in the previous quarter, according to data released by the DoSM.In corporate news, shares of AirAsia X (KLSE:AAX) slid over 2% at close, as its unit Asia Aviation Capital agreed to buy 150 Airbus A220-300 aircraft from Airbus in a deal valued at about $19 billion.Lotte Chemical Titan (KLSE:LCTITAN) posted a wider first-quarter loss despite a 70% jump in revenue. The loss widened as higher depreciation and financing costs from its Indonesia ethylene project weighed on earnings. Shares ended flat.

FTSE Bursa Malaysia KLCIKLSE:AAXKLSE:LCTITAN

Asia57d ago

DBS Group to Liquidate Subsidiary Primefield

DBS Group (SGX:D05) commenced voluntary liquidation proceedings for its indirect subsidiary, Primefield Company, according to a Friday filing with the Singapore Exchange.The subsidiary is a dormant entity, the financial services group said.

SGX:D05

Asia57d ago

Nomura Adjusts Kansai Nerolac Paints' Price Target to INR300 From INR285, Keeps at Buy

Kansai Nerolac Paints (NSE:KANSAINER, BOM:500165) has an average rating of hold and mean price target of 244.94 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:500165NSE:KANSAINER

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