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Arvind Fashions Swings to Profit in Fiscal Q4; Shares Jump 11%

Arvind Fashions (NSE:ARVINDFASN, BOM:542484) swung to profit in the fiscal fourth quarter ended March 31, with a consolidated attributable profit of 469.7 million Indian rupees from a loss of 931.5 million rupees a year ago.Earnings per share came in at 3.51 rupees from a loss per share of 6.99 rupees a year earlier, the retailer said in a filing to the Indian stock exchanges.Revenue from operations in fiscal Q4 increased 13.6 billion rupees from 11.9 billion rupees a year ago.The company's board recommended a final dividend of 1.60 rupees per equity share of face value of 4 rupees each, for the financial year ended March 31.The company's shares jumped over 11% in recent trade.

BOM:542484NSE:ARVINDFASN

Asia102d ago

StanChart Buys Back Shares

Standard Chartered (HKG:2888) repurchased 800,000 shares on Tuesday at an average price of 18.20 pounds sterling apiece, the bank said in a Hong Kong bourse filing Wednesday.The British lender plans to cancel the shares, following which it will have about 2.22 billion shares in issue.

HKG:2888

Asia102d ago

Taiwan Surface Mounting's Revenue Rises 4% in April; Shares Slump 10%

Taiwan Surface Mounting Technology (TPE:6278) logged consolidated revenue of NT$4.51 billion for April, up 3.9% annually, according to a Tuesday filing with the Taiwan Stock Exchange.Shares dropped 10% in Wednesday's midday trade.The latest figure also marked a 6.9% increase from March.Cumulative revenue for January to April reached NT$17.1 billion, up 1.9% year-on-year, the company said.

TPE:6278

Asia102d ago

Rundu Pharmaceutical Gets Nod to Market Losartan Potassium

Zhuhai Rundu Pharmaceutical (SHE:002923) obtained approval from China's National Medical Products Administration for the marketing of losartan potassium, according to a Shenzhen bourse filing on Wednesday.The drug is used for the treatment of primary hypertension and chronic heart failure.The pharmaceutical company's shares rose by less than 2% at the close.

SHE:002923

Asia102d ago

Market Chatter: Japan Sees No Immediate Need for Extra Budget Amid Middle East Conflict

Japanese Prime Minister Sanae Takaichi has downplayed talks for an additional budget despite the continuing economic fallout from the Middle East conflict, Nikkei Asia reported Wednesday.A supplementary budget for the current fiscal year may not be "immediately necessary as of today," the report cited Takaichi as saying.The country could instead resort to reserve funds from the yearly budget if necessary, the report quoted Takaichi as saying.Additional spending is not entirely off the table, with aides to the prime minister having discussions on financial support for households late in April with senior ministry officials, 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.)

Nikkei 225

Asia102d ago

Hong Kong Stocks Rally On Hopes of U.S.-Iran Peace Deal; Cofoe Medical Makes Tepid Market Debut

Hong Kong equities rallied Wednesday as investors cheered a pause of hostilities between Iran and the U.S.The Hang Seng Index rose by around 315.17 points, or roughly 1.2%, to end at 26,213.78, while the Hang Seng China Enterprises Index increased by 70.26 points, or around 0.8%, to close at 8,800.75.Investors appeared to be holding out hope for a possible peace agreement between the U.S. and Iran after the Trump administration announced an end to Operation Epic Fury.US President Donald Trump also halted the military operation Project Freedom in the Strait of Hormuz which was to help ships stranded in the waterway, a key route that carried about one-fifth of global oil and LNG trade before the war.Trump also indicated a possible peace deal may be reached with Iran, causing dollar and oil prices to ease somewhat, Reuters reported.In local development, Hong Kong's gross domestic product grew 5.9% year over year in the first quarter of 2026, faster than the revised 4% expansion in the fourth quarter of 2025, according to advance estimates released by the Census and Statistics Department.Meanwhile, S&P Global said Hong Kong's private sector business conditions deteriorated for a second straight month in April as output and new orders declined amid sharply higher costs linked to the war in the Middle EastOutput contracted at the fastest pace since June 2025, while new orders fell for a second consecutive month.In corporate news, Cofoe Medical Technology (HKG:1187; SHE:301087) had a tepid debut in Hong Kong.The Chinese home care medical device provider closed at HK$38.90 per share, marginally lower than offer price of HK$39.33.

Hang SengHKG:1187SHE:301087

Asia102d ago

BL Kashyap Bags INR1.80 Billion Civil Works Contract

BL Kashyap and Sons (NSE:BLKASHYAP, BOM:532719) has received an order worth 1.80 billion Indian rupees from Immencity Office Parks, according to a Wednesday filing to the Indian stock exchanges.The contract is for the civil and structural works at the Century Red Oak commercial building block in Shivanahalli in Bangalore, India.The project is expected to be completed in 18 months.

BOM:532719NSE:BLKASHYAP

Asia102d ago

Market Chatter: China Calls on US to Scrap Alleged Excess Capacity Probe

China called on the U.S. to cease its investigations into China's alleged excess capacity ahead of the meeting between Presidents Donald Trump and Xi Jinping, the South China Morning Post reported Wednesday.The U.S. Trade Representative launched the probe in March, which looked into the structural excess capacity of 16 trading partners, including China. The probe aligns with Section 301 of the Trade Act of 1974, according to the media outlet.Michelle Zang, who spoke in behalf of state-backed China Chamber of International Commerce, told the hearing that the probe does not have enough "statutory basis and supporting evidence" and urged the U.S. to "terminate the investigation", SCMP said.A number of Southeast Asian countries, Japan, India, South Korea, the European Union and Mexico were also covered in the probe, 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

Asia102d ago

New Asia Construction Logs About NT$57 Million in Q1 Profit

New Asia Construction and Development (TPE:2516) posted a profit attributable to owners of NT$56.5 million, or NT$0.25 per share, for the first quarter, according to a Tuesday filing with the Taiwan Stock Exchange.Shares gained over 1% in Wednesday's midday trade.Meanwhile, operating revenue stood at NT$1.62 billion.The construction company did not provide comparative year-ago figures.

TPE:2516

Asia102d ago

Hsin Kuang Steel Logs Nearly NT$71 Million in Q1 Profit; Shares Drop 3%

Hsin Kuang Steel (TPE:2031) posted a profit attributable to owners of NT$70.7 million, or NT$0.22 per share, for the first quarter, according to a Tuesday filing with the Taiwan Stock Exchange.Shares slid over 3% in Wednesday's midday trade.Meanwhile, operating revenue stood at NT$4.59 billion.The steel manufacturer did not provide comparative year-ago figures.

TPE:2031

Asia102d ago

Inspace Creation to Debut on ACE Market of Bursa Malaysia

Inspace Creation (KLSE:INSPACE) is slated to list on the ACE Market on Friday, May 8, according to a Tuesday Malaysian bourse filing.The interior fitting-out specialist will mark its entry into Bursa Malaysia's construction sector under the stock name INSPACE, and stock code 0451.Upon listing, the company's enlarged issued share capital will stand at 369.3 million shares, with a total value of 24.7 million ringgit.The stock will trade under code 0451. The group confirmed no additional or new classes of securities will be issued alongside the IPO.

KLSE:INSPACE

Asia102d ago

KOSPI Hits Record High on Hopes of US-Iran Peace Agreement; Samsung Electronics Soars 14%

South Korean shares closed sharply higher on Wednesday, with the primary index shooting up to close at a record high.The rally was led by strong gains in semiconductor stocks and investor optimism for a possible peace agreement between the US and Iran after US President Donald Trump halted the military operation Project Freedom in the Strait of Hormuz.The Korea Composite Stock Price Index or Kospi increased 447.57 points, or 6.5%, to end at 7,384.56. The Kosdaq fell by 3.57 points, or 0.3%, to close at 1,210.17.Chipmakers Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added over 14% and nearly 11%, respectively, at market close.The Korea Exchange activated a five-minute buy-side sidecar on the country's primary stock market on Wednesday morning as investors rushed to purchase securities on hopes that the U.S.-Iran conflict may end in the near future.The Korea Exchange announced the order at 9:06 am after the KOSPI200 Futures added 66.05 points, or 6.28%, to trade at 1,116.55.In economic news, South Korea's inflation climbed 2.6% year on year in April, accelerating from a 2.2% rise in March amid the ongoing conflict in the Middle East, data from the country's Ministry of Data and Statistics showed on Wednesday.The headline print was in accordance with the median estimate of 2.6% in a Bloomberg survey.The increase was driven by higher costs across all categories, with transport gaining the highest at 9.7%.Meanwhile, core inflation, which measures prices of goods excluding food and energy, remained steady at 2.2% in April.In corporate news, Samsung Electronics hit a market valuation of $1 trillion on Wednesday, supported by the strong demand for AI chips, Bloomberg News reported on the same day.The South Korean chipmaker became the second Asian firm after Taiwan Semiconductor Manufacturing (TPE:2330) to hit the $1 trillion mark.Overseas investors appear to be driving the recent rally in the stock, supported by a deal between Interactive Brokers and Samsung Securities (KRX:016360) that allows U.S. investors to directly buy South Korean stocks.The firm's semiconductor wing had posted a record profit in the first quarter, surpassing expectations by a wide margin on strong AI data center demand, with analysts expecting the momentum to continue in the quarters ahead as contract prices keep moving higher amid a scarce supply.In other news, LG Electronics (KRX:066570) secured the top 1% rating in credit rating agency S&P Global's Corporate Sustainability Assessment for the third straight year, the electronics products maker said in a Wednesday release.The company secured the highest score of 77 points in the Home Appliances & Leisure Goods industry group, which covers leisure equipment and products and consumer electronics.Shares of LG Electronics jumped over 8% at market close.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:066570

Asia102d ago

Hartalega Declares First Interim Dividend

Hartalega (KLSE:HARTA) declared a first single-tier dividend of 0.018 ringgit per share for the financial year ending March 31, 2027, according to a Tuesday filing with Bursa Malaysia.Shares slid about 2% in Wednesday's midday trade.The nitrile gloves producer will pay the dividend on June 16 to shareholders on record as of May 2.

KLSE:HARTA

Asia102d ago

Weilong Grape Wine's Controlling Shareholder Plans Control Transfer

Weilong Grape Wine's (SHA:603779) controlling shareholder, Xinghe Xirang (Zhejiang) Digital Technology, plans to transfer its control in the company, according to a Shanghai bourse filing on Wednesday.The potential transaction could likely bring a change in the company's controlling shareholder.The Chinese wine producer suspended the trading of its shares and the suspension is expected to last for two trading days.

SHA:603779

Asia102d ago

JHT Design Plans Convertible Bonds Issuance

JHT Design (SHA:603061) proposed to issue convertible bonds, according to a Shanghai bourse disclosure on Wednesday.The company's board of directors approved the proposal.The Chinese advanced integrated-circuit test handler's shares rose over 1% at close.

SHA:603061

Asia102d ago

Zhongman Petroleum and Natural Gas' Shareholder to Offload 3% Stake

A shareholder of Zhongman Petroleum and Natural Gas (SHA:603619) plans to offload around 3% of the company, according to a Shanghai bourse filing on Wednesday.Zhu Fengxue will dispose of over 13.9 million shares within three months through centralized bidding and block trading.Zhu currently owns over 19.4 million shares or 4.2% of the Chinese oil and gas company.The company's shares slumped by less than 8% at the close.

SHA:603619

Asia102d ago

Shanghai Bourse Accepts Bailong Chuangyuan Bio-Tech's Convertible Bond Issuance Application

The Shanghai Stock Exchange accepted Shandong Bailong Chuangyuan Bio-Tech's (SHA:605016) application to issue convertible corporate bonds, according to a Shanghai bourse disclosure on Wednesday.The food supplement manufacturer's shares rose over 1% at the close.

SHA:605016

Asia102d ago

TGOOD Electric Secures 199 Million Yuan in State Grid Pre-awards

Qingdao TGOOD Electric (SHE:300001) and its subsidiary Chuankai Electric were named recommended winning candidates for two State Grid tenders totaling about 198.7 million yuan.The projects include composite appliances and switchgear packages under State Grid's 2026 transmission and transformation equipment procurement programs, according to a Wednesday filing with the Shenzhen bourse.Shares of the electrical equipment manufacturer closed 3% higher Wednesday.

SHE:300001

Asia102d ago

Mafatlal Industries CEO to Retire; MD Takes Over Additional CEO Role

Mafatlal Industries' (BOM:500264) Chief Executive Officer M.B. Raghunath will retire on May 31, on attaining the age of 60, after over three decades with the company, according to a Tuesday filing on BSE.Shares of the company fell 1% in Wednesday's trade.He will continue to support the company in strategy and project-related work post-retirement, the filing said.The company has appointed Priyavrata H. Mafatlal as chief executive officer, on top of his role as managing director for a three-year term starting June 1, according to the filing.Mafatlal's appointment is subject to shareholder approval, the company said.

BOM:500264

Asia102d ago

Market Chatter: Indonesia Cuts Dollar Buying Limit, Explores Currency Swaps to Strengthen Rupiah

Indonesia is putting several measures in place to support the rupiah after it weakened to a record low on Tuesday, The Jakarta Globe reported Wednesday.Firstly, the country slashed the amount of US dollars people can buy from the market without supporting documents to $50,000 per month from $100,000.Bank Indonesia is reportedly looking to further cut the limit to $25,000 per month and ensuring compliance by closely monitoring institutions with heavy dollar demand and working with the Financial Services Authority to enforce the rules on site.Separately, the central bank is working with banks on currency swap arrangements with China, Japan and South Korea, the news outlet reported, citing Chief Economic Minister Airlangga Hartarto.Airlangga did not provide any more details while speaking at a press conference in Jakarta, but clarified that the scheme is different from local currency transactions, 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.)

^JKSE

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Asia102d ago

KOSPI Hits Record High on Hopes of US-Iran Peace Agreement; Samsung Electronics Soars 14%

^KOSDAQKOSPIKRX:000660KRX:005930KRX:066570