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Aurobindo Pharma Unit CEO Resigns; Shares Up 3%

Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) said Sanjay Chaturvedi has resigned as chief executive officer of the company's wholly owned subsidiary, Apitoria Pharma, effective May 4.Chaturvedi has stepped down to pursue another opportunity, according to a Monday filing on Indian bourses.Shares of Aurobindo Pharma rose over 3% in Tuesday's trade.

BOM:524804NSE:AUROPHARMA

Asia103d ago

Wing Chi Warns of Swing to Full-Year Loss

Wing Chi (HKG:6080) expects an attributable loss of around HK$19.2 million for the year ended March 31, compared with an attributable profit of HK$4.4 million a year prior, according to a Tuesday Hong Kong bourse filing.The construction engineering company attributed the forecast to substantial losses in various foundation and site formation projects, as well as a drop in gross profit.

HKG:6080

Asia103d ago

Force Motors Rolls Out New Range of Light Commercial Vehicles

Force Motors (NSE:FORCEMOT, BOM:500033) has launched a new range of light commercial vehicles named "Force Traveller N Range", according to a Tuesday filing to the Indian stock exchanges.The new range comprises ambulance, delivery van, and school bus applications and will be available for bookings across Force Motors dealerships across India from mid-May.With this launch, Force Motors will transition its 'Traveller' range entirely to the new range with effective May.The company's shares were down over 1% in recent trade.

BOM:500033NSE:FORCEMOT

Asia103d ago

Market Chatter: Ex-Pertamina Executives Handed Sentences in LNG Corruption Case

Two former executives of Indonesian state-owned oil and natural gas company Pertamina were sentenced to jail by Central Jakarta District Court over an LNG purchase case, The Jakarta Globe reported Monday.Pertamina's former gas director Hari Karyuliarto was sentenced to 4.5 years in prison, while former vice president for strategic planning and business development Yenni Andayani received a 3.5-year term.The LNG procurement from US firm Corpus Christi Liquefaction between 2011 and 2014 reportedly resulted in state losses of $113.8 million.Amid an LNG surplus and subdued demand, Pertamina was forced to offload the cargoes in international markets at a loss at the time.Under a broader corruption case linked to the same transaction, Pertamina's CEO was sentenced to 13 years in prison in February 2025, 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.)

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Asia103d ago

Hong Kong Stocks Slump As Middle East Fighting Escalates

Hong Kong equities fell Tuesday as bearish sentiment prevailed amid escalating tensions in the Middle East.The Hang Seng Index fell by around 197.27 points, or roughly 0.8%, to end at 25,898.61, while the Hang Seng China Enterprises Index decreased by 43.90 points, or around 0.5%, to close at 8,730.49.Fighting in the Middle East resumed as the U.S. and Iran vied for control of the critical Strait of Hormuz, after U.S. President Donald Trump said Washington would help ships stranded in the waterway, a key route that carried about one-fifth of global oil and LNG trade before the war.Iran had previously warned it would view any such action as a violation of a previously agreed ceasefire.The Middle East conflict will hit many Asia-Pacific corporate sectors through oil price hikes, shipping and supply chain disruptions, dampened demand, and delayed cyclical rebounds, Fitch Ratings said in a recent release.In corporate news, two firms filed to go public in Hong Kong.Metis TechBio (HKG:7666) is seeking to raise about HK$2.11 billion via the sale of 201.2 million shares at HK$10.50 per share. The Chinese AI-driven nanotechnology company will use funds to further research and development of AI infrastructure.Meanwhile, Impact Therapeutics (HKG:7630) launched its IPO to raise HK$913 million via the sale of 42 million shares at an indicative maximum price of HK$21.75 per share. The China-based biotechnology firm will use proceeds mainly to fund clinical development.Elsewhere, Star Sports Medicine (HKG:1609) had a stellar debut in Hong Kong. The medical device company's shares closed at HK$215 per share on their first day of trading, 118% above the offer price of HK$98.50.

Hang SengHKG:1609HKG:7630HKG:7666

Asia103d ago

Prudential Buys Back Shares

Prudential (SGX:K6S, HKG:2378) bought back 265,592 shares in London on Monday at an average price of about 11.01 pounds sterling apiece, according to a Tuesday bourse filing.The insurer intends to cancel the repurchased shares.Following the transaction, the company will have about 2.52 billion shares in issue.

HKG:2378SGX:K6S

Asia103d ago

Neetu Yoshi Bags INR148 Million for Supply of Cast Steel Blocks

Neetu Yoshi (BOM:544434) has secured an order worth 147.6 million Indian rupees from an undisclosed India-based wagon manufacturer, according to a filing to the BSE on Tuesday.The contract is for the manufacturing and supply of cast steel blocks.The order will be executed from May to December.The company's shares were down over 2% in recent trade.

BOM:544434

Asia103d ago

Market Chatter: Itochu to Invest 1.5 Trillion Yen for Market Capitalization Boost

Itochu (TYO:8001) will allocate 1.5 trillion yen for the improvement of its market capitalization and the maintenance of its leading position among trading companies in Japan, Nikkei Asia reported Tuesday.Chairman and CEO Masahiro Okafuji said the company is on track to claim the "triple crown" among the country's trading houses after reaching record profit for the second consecutive year, according to the report.A trading house achieves "triple crown" after ranking first across net profit, market return on equity, and market capitalization, the report said.The company's profit attributable to owners of the parent grew 2.3% annually to about 900.3 billion yen in fiscal year 2025, which the report said is the largest in the sector.The company also posted the highest return on equity at 14.6%, the report said.The increased investment plan looks to regain the market capitalization lead that the company had earlier this year, and which it had lost to Mitsui & Co. (TYO:8031) and Mitsubishi (TYO:8058), 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.)

TYO:8001TYO:8031TYO:8058

Asia103d ago

Persistent Systems Signs MoU with IIT Kharagpur for AI Lab

Persistent Systems (NSE:PERSISTENT, BOM:533179) signed a memorandum of understanding with the Indian Institute of Technology Kharagpur to establish an artificial intelligence lab, according to a Tuesday filing to the Indian stock exchanges.The proposed lab aims to advance AI research, deepen collaboration between industry and academia, and develop skilled talent.The facility will have advanced computational, laboratory, and instructional capabilities to strengthen research and applied development, the filing said.The company's shares were up over 1% in recent trade.

BOM:533179NSE:PERSISTENT

Asia103d ago

Market Chatter: SEMI Projects Firm Chip Demand Despite Geopolitical Risks

Global industry group SEMI said semiconductor demand is expected to remain strong even as supply chains face pressure from Middle East tensions and wider trade uncertainty, Reuters reported Tuesday.SEMI expects the sector to reach $1 trillion in sales this year, doubling to $2 trillion by 2035, driven largely by rapid expansion in AI-linked data centers, according to the report.CEO Ajit Manocha told Reuters that geopolitical risks are unlikely to derail near-term growth, though shortages of key materials such as helium and bromine could weigh on the longer-term outlook. He also highlighted supply vulnerabilities and urged Southeast Asian economies to expand chip fabrication capacity to strengthen and diversify global production networks, 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.)

Taiwan Weighted

Asia103d ago

Moody's Improves Vietnam Outlook to Positive; Affirms Ratings

Moody's Ratings raised its outlook on the Government of Vietnam to "positive" from "stable" while affirming its issuer and senior unsecured rating at Ba2, according to a release by the ratings agency on Monday.The improved outlook reflects the country's potential to improve its credit profile over the next few years, as well as strengthening institutions and governance, the rating agency said.Risks linked to US trade policies are now also seen as less severe than previously expected.The affirmation of the Ba2 rating reflects the country's "strong growth potential, improving macroeconomic stability, and sustained attractiveness as a foreign investment destination," Moody's said.

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Asia103d ago

RHB Bank Adjusts Sheng Siong Group's Price Target to SG$3.45 from SG$3.02, Keeps at Buy

Sheng Siong Group (SGX:OV8) has an average rating of overweight and mean price target of SG$3.05, 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://finwires.com/en/contact)

SGX:OV8

Asia103d ago

Japan, Indonesia Sign Agreement on Defense Equipment Transfers

Japan and Indonesia have reached a deal involving more equipment transfers from Tokyo, according to a recent press release from Japan's Ministry of Defense.The new equipment transfer system will create a working group that will discuss matters such as defense equipment and technology cooperation, according to a press conference from Defense Minister Shinjiro Koizumi.The nations also came up with a defense dialog mechanism that improves cooperation and will have advanced conversations on how to protect military data, the release said.Indonesia has also expressed interest in sourcing used submarines from Japan.The new defense agreement expands on a previous defense understanding signed in 2015.

^JKSENikkei 225

Asia103d ago

Market Chatter: Malaysia to Boost Palm Biodiesel Blend to B15 to Ease Fuel Prices

Malaysia will raise its biodiesel blend to B15 from June, lifting palm oil content in transport diesel to 15% as part of efforts to ease persistently high fuel costs, Nikkei Asian Review reported Monday, citing Deputy Prime Minister Ahmad Zahid Hamidi.The move follows earlier steps from B10 to B12 and is expected to gradually progress to B20 within a few years, with longer-term targets possibly reaching B50 as the country expands renewable fuel use, according to the report.The policy shift comes amid volatile global oil prices linked to Middle East tensions, which have pushed local diesel costs sharply higher, though subsidies remain in place in parts of the country. Officials said the expansion will use existing refinery infrastructure and form part of a broader strategy to reduce dependence on fossil fuels while supporting the palm oil sector, the Nikkei 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.)

FTSE Bursa Malaysia KLCI

Asia103d ago

Caplin Point Laboratories Unit Gets US FDA's Final Nod for Calcium Gluconate Injection

Caplin Steriles, a subsidiary of Caplin Point Laboratories (NSE:CAPLIPOINT, BOM:524742), has received final approval from the U.S. Food and Drug Administration (FDA) for its calcium gluconate injection, according to a Tuesday filing to the Indian stock exchanges.The drug is a generic therapeutic equivalent version of Fresenius Kabi's reference-listed drug.Calcium gluconate injection is indicated for the treatment of acute symptomatic hypocalcemia in pediatric and adult patients.The company's shares were up nearly 2% in recent trade.

BOM:524742NSE:CAPLIPOINT

Asia103d ago

Market Chatter: JSR to Build Semiconductor Material Plant in Taiwan

JSR (TYO:4185) looks to construct its first production facility for semiconductor materials in Taiwan, Nikkei Asia reported Monday.The plant will supply advanced photoresists, used to make circuit patterns on silicon wafers, to Taiwan Semiconductor Manufacturing (TPE:2330), according to the report.The Japanese chemical producer teamed up with a local partner in April for a new joint venture dedicated to the project, the report said.The company will invest tens of millions of dollars in the plant and aims to make it operational as early as 2028, Nikkei Asia said.The move comes as Japanese producers aim to maintain their share of the Taiwanese market amid heightened competition from Chinese peers, the report said.Japanese producers have an 80% share of the global photoresist market, with JSR the second-biggest supplier, the report said.The company will look into making other products aside from photoresist at the Taiwan plant, 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.)

TPE:2330TYO:4185

Asia103d ago

Market Chatter: Indonesia Hikes High-Grade Diesel Prices, Holds Subsidized Fuel Prices Steady

Indonesia has lifted prices for high-grade diesel to their highest levels in years, while leaving subsidized fuels unchanged in a bid to balance market costs with consumer protection.State-owned Pertamina raised its premium diesel, Pertamina Dex, by 16.7% to 27,900 rupiah per liter, the highest since its launch. Its Dexlite variant also climbed to 26,000 rupiah per liter from 23,600 rupiah, reportedly.Gasoline saw milder adjustments, with Pertamax Turbo edging up, while key mainstream fuels and subsidized products including Pertalite and Biosolar remained unchanged. The company said the move reflects efforts to manage business sustainability without straining public purchasing power, the news outlet 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.)

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Asia103d ago

Exsim Hospitality Unit Bags MYR2 Million Project

Exsim Hospitality (KLSE:EXSIMHB) subsidiary EXSIM Concepto accepted a letter of award from Epic Team Construction worth 2.08 million ringgit, according to a Tuesday filing with Bursa Malaysia.Shares rose about 2% in Tuesday's midday trade.The contract covers interior and electrical works for Maybank KLCC.Work is set to begin on May 11 and is expected to be completed by Sept. 7, a timeline of roughly four months.

KLSE:EXSIMHB

Asia103d ago

Mahindra & Mahindra's Consolidated Profit Rises in Fiscal Q4

Mahindra & Mahindra's (NSE:M&M, BOM:500520) consolidated attributable profit rose to 46.7 billion Indian rupees in the fiscal fourth quarter ended March 31, from 33.0 billion Indian rupees a year ago.Earnings per share climbed to 41.48 rupees from 29.04 rupees a year earlier, the auto-to-defense manufacturing conglomerate said in a filing to the Indian stock exchanges on Tuesday.Revenue from operations in fiscal Q4 also increased to 549.8 billion rupees from 426.0 billion rupees a year ago.The company's board recommended a final dividend of 33 rupees per ordinary equity share of the face value of 5 rupees each for the financial year ended March 31.The company's shares were up nearly 1% in recent trade.

BOM:500520NSE:M&M

Asia103d ago

Computer Age Management Services' Consolidated Profit Climbs in Fiscal Q4; Shares Jump 9%

Computer Age Management Services' (NSE:CAMS, BOM:543232) consolidated profit attributable to owners rose to 1.26 billion Indian rupees in the fiscal fourth quarter from 1.14 billion rupees a year ago, according to an Indian bourse filing on Monday by the mutual fund transfer agency.Shares of the company jumped 9% in Tuesday's trade.Earnings per share for the quarter ended March 31 climbed to 5.08 rupees from 4.59 rupees a year earlier.Revenue from operations jumped year on year to 3.95 billion rupees from 3.56 billion rupees, the filing said.The company's board recommended a dividend of 4 rupees per share for the fiscal year ended March 31, which will be paid on or before Aug. 5 to shareholders on record as of July 10.

BOM:543232NSE:CAMS

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