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BCPL Railway Infrastructure Emerges as Lowest Bidder for Eastern Railway Contract; Shares Plummet 6%

BCPL Railway Infrastructure (NSE:BCPL, BOM:542057) emerged as the lowest bidder (L1) for a contract worth around 62.3 million Indian rupees from the Howrah division of Eastern Railway, according to a Tuesday filing on Indian bourses.Shares of the company fell nearly 6% in Wednesday's trade.The project involves replacement of old and rusted cantilever assemblies in the Howrah division, the filing said.

BOM:542057NSE:BCPL

Asia102d ago

Macronix International to buy Machinery, Equipment for NT$1.91 Billion; Shares Rise 7%

Macronix International (TPE:2337) will acquire a batch of machinery equipment from KLA Corp. for NT$1.91 billion, according to a Tuesday Taiwna Exchange filing.Shares jumped over 7% in Wednesday's midday trade.The equipment will be used for production purposes, it said.

TPE:2337

Asia102d ago

Market Chatter: Formosa Petrochemical to See Supply Relief as Saudi Crude Tanker Arrives

Formosa Petrochemical (TPE:6505) said a Liberian-flagged supertanker carrying 2 million barrels of Saudi crude is set to arrive at Mailiao Port, offering relief to its strained refinery operations, Taipei Times reported, citing company executive.The cargo is being delivered by the FPMC C Lord, operated by Formosa Plastics Marine.Refinery output had slumped to about 43% last month after Middle East conflict disruptions and Strait of Hormuz delays blocked scheduled shipments. Naphtha cracking utilization also dropped sharply to around 33%, reflecting tight feedstock conditions.With the new inflow and diversified sourcing from regions including the Red Sea and West Africa, the company expects utilization to recover above 60% this month and near 80% next month, though petrochemical margins remain under pressure from weak demand, the news outlet reported.(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.)

TPE:6505

Asia102d ago

Flight Centre May Benefit from Travellers Leaning into Better-Known Brands with Stronger Service Models, Jarden Says

Flight Centre Travel Group (ASX:FLT) might benefit as travellers lean into better-known brands with stronger service models in the wake of the Middle East conflict, according to a Tuesday note by Jarden.Its third-quarter total transaction value (TTV) rose 6.8% on the fiscal third quarter ended March 31 to AU$7 billion, or 9.4% in constant currency, with underlying profit before tax (UPBT) up 18.5% to AU$102.6 million.The analysts forecast third-quarter TTV growth of around 3.5%, reflecting weaker demand, offset by strength in corporate and higher fares.Historically, the firm has exited a crisis stronger due to cost control, balance sheet, and scale. It is also gaining trust with customers, benefiting from market consolidation, and leaning into artificial intelligence/data initiatives.The investment firm maintained its overweight rating on Flight Centre Travel and raised the price target to AU$16.80 per share from AU$16.70 per share.

ASX:FLT

Asia102d ago

CCOOP to Sell Shopping Center Via Pubic Auction

CCOOP Group (SHE:000564) plans to sell its wholly-owned subsidiary, Changchun Meilifang Minsheng Shopping Center, via public bidding.The subsidiary incurred a net loss of 73.9 million yuan in 2025, according to a Wednesday filing with the Shanghai bourse.The sale aims to optimize asset allocation and reduce debt burden, allowing the company to focus on core operations.The final price will be determined through bidding on the Shanghai United Assets and Equity Exchange.Shares of the department store operator rose 3% in recent trade.

SHE:000564

Asia102d ago

Aurobindo Pharma Gets US FDA's Voluntary Action Indicated Classification for Telangana, India Unit; Shares Up 3%

Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) has received a "voluntary action indicated" from the US Food and Drug Administration (US FDA) after the inspection of its oral solid dosage manufacturing unit in the Mahaboobnagar district of Telangana, India.The inspection, which was conducted between Jan. 28 and Feb. 10, resulted in the US FDA issuing a 'Form 483' with nine observations, according to a Wednesday filing to the Indian stock exchanges.With this classification, the inspection is now closed.The company's shares were up over 3% in recent trade.

BOM:524804NSE:AUROPHARMA

Asia102d ago

Mangal Credit and Fincorp Opens New Branch in Maharashtra, India

Mangal Credit and Fincorp (NSE:MANCREDIT, BOM:505850) announced the opening of its newest branch in Maharashtra, India, on May 6, according to a Tuesday filing on the Indian stock exchanges.The new location (Shop No. 5, Taniya Regency, Nallasopara East) expands the firm's network in western India, offering products such as gold loans, personal loans, and SME loans.The company specializes in delivering quick credit solutions to retail customers and small and medium-sized enterprises (SMEs).Shares of the non-banking finance company were up 1% in Wednesday's trade.

BOM:505850NSE:MANCREDIT

Asia102d ago

Australian Shares Rally; DigiCo Infrastructure REIT Agrees to Sell Chicago Facility for $750 Million

Australian shares rallied on Wednesday as banks' shares gained after the rate hike by the Reserve Bank of Australia, and US President Donald Trump cited "great progress" towards a peace deal with Iran.The S&P/ASX 200 Index rose 1.3%, or 113.10 points, to close at 8,793.60.Brent crude oil futures fell below $108 per barrel. President Trump said that a US naval operation to guide ships through the Strait of Hormuz would be paused to secure a peace deal with Iran to end the conflict.On the domestic front, Australia's industry activity remained in contraction in April, as persistent weakness in manufacturing and construction and rising fuel-driven cost pressures outweighed early signs of stabilization in orders and employment, the Australian Industry Group said.The Australian Industry Index rose by 9.8 points in April but remained firmly in contraction at negative 24.4. The Australian Performance of Manufacturing Index rose by 0.7 to negative 27.9, while the Australian Performance of Construction Index jumped 37.8 to negative 19.3.In company news, DigiCo Infrastructure REIT (ASX:DGT) agreed to sell its Chicago facility for $750 million to a third-party North American fund manager. The sale, expected to reach financial close in the first quarter of fiscal year 2027, is anticipated to release net cash proceeds of AU$360 million post repayment of asset-level debt and increase available liquidity to AU$900 million. Its shares gained 23% at market close.DPM Metals (ASX:DPM) reported first-quarter adjusted earnings of $0.76 per basic share, up from $0.32 a year earlier. Revenue for the three months ended March 31 was $310.4 million, compared with $144.1 million a year earlier. Its shares closed down 2%.Lastly, NexGen Energy (ASX:NXG) reported on Wednesday a first-quarter loss of CA$0.24 per share, compared with CA$0.09 a year earlier. The company said it does not have any revenue except for interest income. Its shares fell 3% on market close.

ASX 200ASX:DGTASX:DPMASX:NXG

Asia102d ago

Metro Pacific Investments' Core Income Rises 5% in Q1 2026

Metro Pacific Investments (PSE:MPI) posted consolidated core net income of 6.9 billion pesos for the first quarter of 2026, up 5% from 6.6 billion pesos a year earlier, according to a Hong Kong bourse filing Wednesday by First Pacific (HKG:0142).The company's power business under Meralco posted 11.4 billion pesos in consolidated core net income, up 2%.The water business under Maynilad posted 4 billion pesos in core net income, up 10%.Meanwhile, the toll business under Metro Pacific Tollways posted flat core net income year on year, the firm said.First Pacific owns 49.9% of Metro Pacific.

HKG:0142PSE:MPI

Asia102d ago

Vishnu Chemicals Extends Maintenance Shutdown at Parwada Plant

Vishnu Chemicals (NSE:VISHNU, BOM:516072) has extended the temporary shutdown for routine maintenance at its manufacturing plant in Parwada, Visakhapatnam, Andhra Pradesh, according to a Tuesday filing on Indian bourses.Shares of the company fell nearly 1% in Wednesday's trade.However, the company expects operations at the plant to resume within a week, the filing said.

BOM:516072NSE:VISHNU

Asia102d ago

Market Chatter: Thailand Cabinet Green Lights Up to THB400 Billion Loan

Thailand's cabinet has signed off on an emergency decree allowing the government to borrow up to 400 billion baht to cushion rising living costs linked to the Middle East conflict, the Nikkei Asian Review reported Wednesday.The move is set for parliamentary review next week under fast-track constitutional provisions, with the government citing risks of stagflation as justification, according to the report.Half of the funds will be directed toward subsidies for low- and middle-income households, farmers, and vulnerable groups, while the remainder is earmarked for longer-term reforms including renewable energy rollout and electric vehicle support. A finance ministry-led committee will oversee disbursement, Nikkei reported.The decision follows energy disruptions tied to tensions involving Iran, which have pushed up fuel and transport costs in Thailand, heavily reliant on Middle Eastern imports. Authorities have cut 2026 growth forecasts to 1.6%, while private estimates are even lower, warning of stagflation risks. Public debt now stands near 66% of GDP, its highest since the late 1990s.(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.)

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Asia102d ago

Market Chatter: China Overtakes Japan in Perovskite Solar Patent Race

China overtook Japan in total perovskite solar cell patent applications filed globally, based on the latest patent landscape analysis, Nikkei Asia reported Tuesday.About 2,000 applications were public, with China leading valid filings as of 2023, according to the report. This ended Japan's lead from 2015 to 2022.CATL (HKG:3750, SHE:300750) topped company rankings in 2025, followed by Panasonic (TYO:6752), Nikkei Asia wrote.(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 225Shanghai Composite^SZSEHKG:3750SHE:300750TYO:6752

Asia102d ago

Futong Technology Says Potential Stake Sale Could Trigger Takeover Offer; Shares Up 9%

Futong Technology Development (HKG:0465) said Chairman Chen Jian is in talks to sell a controlling stake in the company that could trigger a mandatory general offer, according to a Wednesday Hong Kong bourse filing.Chen signed a memorandum of understanding on April 2 with an independent third-party potential buyer for the sale of 187.4 million shares, representing about 60.21% of the company's issued share capital.No formal sale and purchase agreement has been signed, and discussions are ongoing.Shares of the enterprise IT infrastructure product provider were up 9% in Wednesday afternoon trade.

HKG:0465

Asia102d ago

Market Chatter: New Zealand Considering Singapore, Malaysia as Fuel Storage Options Amid Middle East Conflict

New Zealand is considering storing its fuel in Singapore and Malaysia amid the impact of the Iran war, according to a report by Bloomberg on Wednesday.The country's resource minister, Shane Jones, revealed that New Zealand does not have surplus storage capacity and is currently exploring alternatives, with Malaysia and Singapore cited as two countries to cater to the country's storing needs, the report said.New Zealand's storage capacity was severely impacted following the closure of a solitary refinery in Auckland in 2022, the report noted.(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.)

FTSE Bursa Malaysia KLCI^NZ50^STI

Asia102d ago

Beng Kuang Marine Founders Share Sale Attracts Strong Demand

Beng Kuang Marine (SGX:BEZ) shares owned by the company's executive director and founder, Chua Meng Hua, attracted strong interest from institutional funds and reputable investors, according to a Wednesday filing with the Singapore Exchange.The transaction attracted interest from funds such as Amova Asset Management and Tokio Marine Life Insurance Singapore.Meanwhile, the company's executive chairman, Chua Beng Yong and chief executive officer, Yong Jiunn Run acquired 578,286 shares and 500,000 shares respectively.

SGX:BEZ

Asia102d ago

Computershare's Fiscal H2 Trading Update 'Modestly Disappointing,' Jarden Says

Computershare's (ASX:CPU) trading update for the second half of fiscal 2026 was "modestly disappointing" as it did not deliver on hopes for an outlook upgrade, Jarden said in a Wednesday note, but added that the company has a propensity to issue conservative guidance and later exceed it.The company maintained its fiscal 2026 management earnings per share outlook at around $1.44, which suggests limited scope for "meaningful" earnings upgrades for the fiscal year from capital markets activity, the equity research firm said.It added that the benefit of a growing pipeline is more likely to accrue in fiscal year 2027 due to the lag typically seen between transaction disclosure and closing."Overall, whilst near-term [margin income] trends are constructive and the pipeline build provides earnings upside optionality into FY27, [Computershare] offers limited valuation appeal with the tokenization structural overhang unresolved," Jarden said.Jarden maintained a neutral rating on the company and lowered its target price to AU$30.40 from AU$31, with the target price move driven entirely by Australian dollar to US dollar currency translation assumptions.

ASX:CPU

Asia102d ago

Dexin Services' Controlling Shareholder Declared Bankrupt

Dexin Services (HKG:2215) said controlling shareholder Hu Yiping was adjudged bankrupt by the High Court of the British Virgin Islands, according to a Wednesday Hong Kong bourse filing.Hu ceased to be chairman of the company on April 28, the filing said.Following the bankruptcy order, Hu's assets, including his interest in Shengfu International, will vest in the official receiver and/or trustee in bankruptcy, which may result in a future change in control of the company.Dexin Services said the bankruptcy order was made against Hu personally rather than the group or its assets, and is not expected to have a significant impact on its operations or financial performance.

HKG:2215

Asia102d ago

Medibank Private Expected to Meet Fiscal Year 2026 Outlook, Jefferies Says

Medibank Private (ASX:MPL) is expected to meet its fiscal year 2026 outlook, given that policyholder growth is typically highest in the fiscal fourth quarter, Jefferies said in a note on Tuesday.Its resident policyholder growth of 2.3% in the twelve months to December 2025, outpacing industry growth of 2.1%, implies market share gain even with heightened competition.The fiscal third quarter claims growth was consistent with the industry, and Medibank paid AU$39.3 million to private hospitals under partnership initiatives over the nine months of the fiscal year, compared with AU$36.6 million in fiscal 2025.Its claims growth was consistent with recent industry trends, with some benefit from proactive claims management. It guided to fiscal year 2026 claims per policy unit of 2.6% to 2.9% on the prior corresponding period.The investment firm retained the hold rating on Medibank and raised the price target to AU$5.15 from AU$4.90.

ASX:MPL

Asia102d ago

Market Chatter: ASEAN Leaders to Gather in Philippines as US-Iran War Pressures Region

Leaders of the Association of Southeast Asian Nations (ASEAN) are set to confront the widening economic shock of the Iran conflict at this week's summit in the Philippines, with inflation and supply disruptions taking center stage, Nikkei Asian Review reported on Wednesday.The talks will also cover the crisis in Myanmar and efforts to advance a South China Sea code of conduct. Attacks linked to the US-Iran war have choked shipping through the Strait of Hormuz, disrupting global supplies of oil and gas and leading to surging prices. Energy-importing economies such as the Philippines, Thailand and Vietnam are facing rising costs and strained supply chains, prompting subsidies, shorter work weeks and emergency measures. reportedly.Analysts say ASEAN's calls for de-escalation have had a limited impact, leaving leaders under pressure to respond. Divisions persist over Myanmar policy, while long-running negotiations with China on a South China Sea code are unlikely to conclude soon amid competing priorities and geopolitical tensions, the Nikkei said.The 48th ASEAN Summit and related meetings are taking place in Cebu, Philippines, from May 6 to May 8, 2026.(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.)

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Asia102d ago

Duratec's New AU$68 Million Contract is 'Particularly Encouraging' Positive Catalyst, Euroz Hartleys Says

Duratec's (ASX:DUR) new AU$68 million contract from the Clough BMD joint venture bolsters the company's strong positioning within defense and marine infrastructure, advancing its momentum from a recent HMAS Stirling award, Euroz Hartleys said in a Wednesday note.The contract includes construction and commissioning works at the Blastr & Paint Facility within the Darwin Ship Lift Facility project in the Northern Territory, expected to commence in June and be completed in mid-to-late 2027."In our view, today's contract is particularly encouraging given it was not necessarily on the market's radar, further highlighting the diversity of [Duratec's] opportunity pipeline and earnings exposure," the equity research firm said.The award is a positive catalyst, adds further medium-term revenue visibility, bolsters confidence in a contract-rich calendar year, and shows the company's ability to capitalize on opportunities, Euroz Hartleys said.It maintained a buy recommendation and a AU$3.09 per share price target on Duratec.

ASX:DUR

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Asia102d ago

Australian Shares Rally; DigiCo Infrastructure REIT Agrees to Sell Chicago Facility for $750 Million

ASX 200ASX:DGTASX:DPMASX:NXG