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Genori Technology Surges 905% in Shanghai Debut

Chongqing Genori Technology (SHA:688797) shares opened at 448.00 yuan apiece on their first day of trading on the Shanghai Stock Exchange.This marked a 905% surge from the semiconductor components company's initial public offering price of 44.56 yuan per share.

SHA:688797

Asia7h ago

Extrawell Pharmaceutical Expects Swing to Loss in Fiscal 2026

Extrawell Pharmaceutical (HKG:0858) expects to post a loss of at least HK$950 million for fiscal 2026, compared with a profit in fiscal 2025, according to a Tuesday Hong Kong bourse filing.The company attributed the expected swing to an unrealized loss on its investment in convertible bonds issued by Starcoin Group (HKG:0399), whose shares were suspended from trading in May, as well as impairment provisions on its interest in an associate and related loan receivables.

HKG:0399HKG:0858

Asia7h ago

Chinese Shares Open Lower on Tech Selloff, Rate Hike Worries

Chinese shares opened lower on Wednesday, driven by a selloff in technology stocks and market expectations that the U.S. Federal Reserve will raise rates.The Shanghai Composite Index, the main gauge of Chinese stocks, slipped 0.4% to 4,090.10. The Shenzhen Component Index slid 0.5% to 15,782.40.Artificial intelligence and chip stocks drove the global tech sector deeper into losses, a slide that originated with heavy losses among South Korea's two largest firms, NBC News reported.Major market-moving technology stocks Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) plunged over 12% at market close on Tuesday.Investor sentiment took an additional hit from SpaceX, which has trended downward for several sessions following its much-hyped June 12 listing, NBC wrote.Also hurting sentiment was rising bets on a Fed interest rate hike. Bank of America now expects rate increases of 75 basis points across September, October and December, marking a reversal from its recent forecast of no change this year.

Shanghai Composite^SZSEKRX:000660KRX:005930

Asia7h ago

Market Chatter: Alibaba Chip Unit Sees First Capital Injection in Years

Alibaba's (HKG:9988) chip design unit, T-Head, received its first capital injection in more than three years last week, with its registered capital rising to 1 billion yuan from 300 million yuan, the South China Morning Post reported Tuesday.The fresh capital comes amid a push by Alibaba to integrate T-Head's semiconductors with its cloud operations and Qwen foundational models, the report said.Alibaba did not immediately respond to a request for comment from.(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:9988

Asia7h ago

NZX Midday Sector Update: Industrial Services Stocks Rise, Retail Trade Declines

Industrial services gained the most among New Zealand sectors on Wednesday, advancing almost 2%.Ventia Services Group (NZE:VNT, ASX:VNT) gained nearly 2% in recent trade.Meanwhile, the retail trade sector declined by almost 2%.Briscoe Group (NZE:BGP, ASX:BGP) was down nearly 3% in recent trade.

^NZ50ASX:BGPASX:VNTNZE:BGPNZE:VNT

Asia7h ago

KDDI Reports Major Data Breach Affecting Over 14 Million Email Accounts

Japanese telecom services provider KDDI (TYO:9433) disclosed that the email system for six internet service providers has been breached, and up to 14.22 million email addresses and passwords may have been leaked, according to a Tuesday statement.The affected service providers include STNet Inc., JCOM Co., Chubu Telecommunications Co., Nifty Corp., Biglobe Inc. and KDDI Web Communications Inc.The breach took place on June 17, after which the company said it modified its systems to prevent further damage and implemented technical defensive measures.However, the company warned that due to this unauthorized access, customers' email addresses and passwords may have been improperly obtained by third parties, and urged users to change their passwords.

TYO:9433

Asia7h ago

Singapore Shares Open Flat Amid Mixed Broader Asian Markets

Singapore shares opened flat with positive bias on Wednesday, tracking mixed sentiment across major Asian markets after a massive technology-stock-led sell-off in the previous session as investors took an optimistic yet cautious approach amid concerns over AI spending and semiconductor firms' valuations.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, rose 0.08%, or 4.19 points, to open at 5,209.930.Market-moving bank stocks were mixed in early morning trade, with DBS Group Holdings (SGX:D05) and United Overseas Bank (SGX:U11) gaining marginally, while shares of Oversea-Chinese Banking Corporation (SGX:O39) slightly declined.In other news, US President Donald Trump said Tuesday that Iran had agreed to permit nuclear inspections, although Tehran said it has no plans to allow the International Atomic Energy Agency (IAEA) inspectors set foot in its bombed enrichment sites.Iran's chief negotiator, Mohammad Bagher Ghalibaf, said the Strait of Hormuz would "never return to its pre-war conditions" and that Tehran would maintain control over the key waterway.

^STISGX:D05SGX:O39SGX:U11

Asia7h ago

Cathay Pacific Airways Announces Lower Fuel Surcharge on Flights

Cathay Pacific Airways (HKG:0293) lowered the fuel surcharge on its flights beginning July 1, according to an update on the company's website Tuesday.The fuel surcharge is included on all Cathay Pacific tickets on a per flight sector basis irrespective of fare type.The surcharge on long-haul flights originating from Hong Kong was reduced to HK$1,164 from HK$1,362.For flights between Hong Kong and the South Asia subcontinent, the surcharge was lowered to HK$541 from HK$633.

HKG:0293

Asia7h ago

Update: Cathay Pacific Airways Announces Lower Fuel Surcharge on Flights

HKG:0293

Asia7h ago

Seer Intelligent Technology Opens Flat in Hong Kong Debut

Shanghai Seer Intelligent Technology's (HKG:6106) shares opened flat in their Hong Kong debut on Wednesday morning, trading in line with the initial public offering price.The intelligent robotics company opened at HK$101.60 per share, matching the offer price.

HKG:6106

Asia7h ago

Micot Pharma Nets HK$989 Million from Hong Kong IPO Ahead of Debut

Shaanxi Micot Pharmaceutical Technology (HKG:2335) raised HK$989.3 million in net proceeds from its initial public offering in Hong Kong, according to a Tuesday after-market filing with the Hong Kong Exchange.The biotechnology company priced its IPO at HK$18.20 per share, issuing 58.05 million shares.The Hong Kong public offering portion of the deal was 1,181.46 times subscribed, resulting in a final allocation of 5.8 million shares.The international offering was 2.52 times subscribed, with 52.2 million shares allocated.Cornerstone investors were allotted 24.68 million shares, representing 42.51% of the IPO shares.Micot Pharma is set to debut on the Hong Kong bourse today, June 24.

HKG:2335

Asia7h ago

Micot Pharmaceutical Jumps 87% in Hong Kong Trading Debut

Shaanxi Micot Pharmaceutical Technology's (HKG:2335) shares opened 87% above their initial public offering price in a solid Hong Kong debut on Wednesday morning.The biotechnology company opened at HK$34.02 per share, well above the offer price of HK$18.20.

HKG:2335

Asia7h ago

Seer Tech Nets HK$995 Million from Hong Kong IPO Ahead of Debut

Shanghai Seer Intelligent Technology (HKG:6106) raised HK$995.4 million in net proceeds from its initial public offering in Hong Kong, according to a Tuesday after-market filing with the Hong Kong Exchange.The intelligent robotics company priced its IPO at HK$101.60 per share, issuing 10.5 million shares.The Hong Kong public offering portion of the deal was 5,934.56 times subscribed, triggering a clawback that increased the allocation to 2.09 million shares from the initial 524,900.The international offering was 21.29 times subscribed, with the final allocation reduced to 8.39 million shares from the initial 9.9 million.Cornerstone investors were allotted 4.5 million shares, accounting for 43.34% of the IPO shares.Seer Tech is set to debut on the Hong Kong bourse today, June 24.

HKG:6106

Asia7h ago

NZX Most Active Stocks

Here are the most actively traded stocks on New Zealand's Exchange on Wednesday.Tourism Holdings (NZE:THL): 3.2 million sharesSpark New Zealand (NZE:SPK): 1.4 million sharesStride Property Group (NZE:SPG): 827,060 sharesAir New Zealand (NZE:AIR): 571,327 sharesVulcan Steel (NZE:VSL): 562,340 shares

^NZ50NZE:AIRNZE:SPGNZE:SPKNZE:THLNZE:VSL

Asia7h ago

Hong Kong Stocks Open Higher as Investors Weigh Fed Outlook, Iran Deal

Hong Kong stocks opened higher on Wednesday, rebounding from the previous session's broad selloff in technology and semiconductor shares as easing concerns over Middle East tensions lifted investor sentiment.The Hang Seng Index rose 0.4%, or 84.42 points, to 23,420.70, while the Hang Seng China Enterprises Index gained 0.4%, or 32.77 points, to 7,792.13.Oil prices remained subdued as tanker traffic through the Strait of Hormuz increased and physical market prices returned to levels seen before the conflict.Investors were also assessing the outlook for U.S. monetary policy as markets braced for a more aggressive response from the Federal Reserve to inflation pressures.

Hang Seng

Asia7h ago

Abbisko, Eli Lilly Sign Multi-Target Drug Discovery Deal Worth Up to $1.9 Billion

Abbisko Cayman (HKG:2256) expanded its collaboration with Eli Lilly through a new research and licensing agreement covering multiple drug targets, according to a Wednesday Hong Kong bourse filing.Under the agreement, Abbisko will receive an upfront payment and is eligible for development, regulatory, and commercial milestone payments totaling up to about $1.9 billion, along with tiered royalties on future product sales.The company will conduct drug discovery and early-stage development activities for therapeutic programs selected by Lilly, leveraging its discovery platform and research capabilities.The agreement follows a 2022 collaboration between the companies focused on the discovery, development, and potential commercialization of a novel small-molecule therapy.

HKG:2256

Asia7h ago

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Wednesday.Arafura Rare Earths (ASX:ARU): 24.7 million sharesGQG Partners (ASX:GQG): 17.2 million sharesMirvac Group (ASX:MGR): 12.2 million sharesMinerals 260 (ASX:MI6): 9.4 million sharesSouth32 (ASX:S32): 8.7 million shares

ASX 200ASX:ARUASX:GQGASX:MGRASX:MI6ASX:S32

Asia7h ago

Update: Baby Bunting Group Now Expects Fiscal H2 Pro Forma NPAT Up to AU$12 Million; Shares Fall 9%

(Updates to add stock movement in the headline and the last paragraph)Baby Bunting Group (ASX:BBN) now expects fiscal second-half pro forma net profit after tax of between AU$11 million and AU$12 million following softer-than-expected trading conditions through the fourth quarter, below its previously guided range of AU$12.5 million to AU$14.5 million, according to a Wednesday Australian bourse filing.The company said the revised fiscal H2 pro forma net profit after tax figure represents growth of between 50% and 64% versus the prior corresponding period, with comparable store sales growth expected to be about 3% in the fiscal H2, below the 6% to 8% in its previous guidance assumptions.Total fiscal year 2026 sales are expected to be about AU$553 million to AU$555 million, up about 6% versus the prior corresponding period, with group costs and capital expenditure remaining in line with expectations, and net debt expected to finish at about AU$20 million, it added.The company's shares fell 9% in recent Wednesday trade.

ASX:BBN

Asia7h ago

Alibaba Takes US Government to Court Over Military Ties Allegation

Alibaba (HKG:9988) has sued the U.S. government seeking removal from a Pentagon list of companies alleged to have links to China's military, according to a court filing Tuesday.The lawsuit, filed in federal court in San Jose, California, challenges the U.S. Department of Defense's decision to add Alibaba to its list of "Chinese military companies" earlier this month.The Pentagon alleged that Alibaba is a "military-civil fusion contributor" to China's defense industrial base through ties to the Ministry of Industry and Information Technology and an indirect affiliation with SASAC, China's state-owned assets regulator.Alibaba said the designation has "no basis in fact or law," arguing that it is governed by an independent board and that its products and services are focused on retail, logistics, and enterprise technology rather than military applications.The Chinese technology giant argued that the designation exposes it to broader U.S. restrictions and state divestment initiatives, while fueling calls to remove it from U.S. exchanges and supply chains.The company said the designation has already caused reputational and commercial harm by undermining confidence among its U.S. partners.

HKG:9988

Asia7h ago

Polymetals Resources Confirms Broad Zones of High-Grade Mineralization at New South Wales Mine

Polymetals Resources (ASX:POL) confirmed broad zones of high-grade silver-lead-zinc mineralization in the upper Main Lode at its Endeavor Mine in New South Wales, according to a Wednesday filing with the Australian bourse.The first 12 underground diamond holes of the 34-hole campaign intersected 45 meters at 197 grams per tonne (g/t) silver, 8.9% zinc, 11% lead and 0.2% copper, and 33 meters at 209 g/t silver, 9.9% zinc, 8.1% lead and 0.2% copper, the filing said.The underground drilling program will continue to improve geological confidence, assess continuity of mineralization and support evaluation of potential mining opportunities within the area, per the filing.Shares rose nearly 2% in morning trade Wednesday.

ASX:POL

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