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Market Chatter: Hanwha Ocean Wins Preferred Bidder Status for KDDX Destroyer Project

Hanwha Ocean (KRX:042660) was selected as the preferred bidder for South Korea's KDDX next-generation destroyer program, valued at about 7.8 trillion won, The Korea Times reported, citing the Defense Acquisition Program Administration and industry sources.The KDDX program reportedly aims to deploy six 6,000-ton destroyers equipped with the Aegis combat system by 2030, replacing aging naval vessels scheduled for retirement later this decade.The Defense Acquisition Program Administration completed its evaluation of proposals for the detailed design and construction of the lead vessel and notified Hanwha Ocean and HD Hyundai Heavy Industries of the results on Thursday, the report said.Hanwha Ocean said the selection reflected its naval shipbuilding and project execution capabilities and pledged to work with the agency to advance the delayed program and support South Korea's naval modernization efforts, it added.(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.)

KRX:042660

Asia45d ago

Market Chatter: Hong Kong Sees 10 Specialist Technology Firm Listings in First Five Months of 2026

Hong Kong welcomed 10 specialist technology company listings during the first five months of the year, helping the firms collectively raise over HK$25 billion, The Standard reported Thursday, citing the head of the city's bourse.According to Hong Kong Exchanges and Clearing (HKG:0388) chief executive Bonnie Chan Yi-ting, proceeds from Hong Kong's initial public offering market reached HK$150 billion during the January to May period, while equity markets helped companies raise more than HK$40 billion.Meanwhile, the average daily turnover on the Hong Kong stock exchange advanced to HK$293 billion in May, Chan 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.)

HKG:0388

Asia45d ago

Tabcorp Holdings Says Aware Super Becomes Substantial Holder

Tabcorp Holdings (ASX:TAH) said that Aware Super became a substantial holder of the firm as of June 5, after acquiring 5.17% voting power, according to a Friday Australian bourse filing.Aware Super is the beneficial owner of 115.9 million FPOs in the firm, while Aware Financial Services Australia is the beneficial owner of 2.5 million FPOs.

ASX:TAH

Asia45d ago

Japan Fair Trade Commission Investigates Haseko Subsidiary

Japan's Fair Trade Commission is investigating Haseko Reform, a subsidiary of Haseko Corp (TYO:1808).The probe remains ongoing, and the subsidiary is fully cooperating in good faith, according to a Tokyo bourse filing on Friday.The company refrained from providing detailed comments at this stage, adding that any future disclosures will be made promptly if necessary.

TYO:1808

Asia45d ago

Market Chatter: Mitsubishi Heavy Order Backlog Swells to Record 13 Trillion Yuan on AI, Defense Demand

Mitsubishi Heavy Industries (TYO:7011) is facing a record-breaking 13.2 trillion yen order backlog, driven by massive orders for gas turbines and weapons, the Financial Times reported Friday.Orders skyrocketed in 2025 to nearly four times the 2019-2022 average, fueled by the massive demands of AI infrastructure, the report said.Meanwhile, Japan's domestic defense budget has doubled to $66 billion over four years, a win for the contractor, according to the report.However, market analysts are now questioning whether the company can expand its production capacity fast enough to deliver on the orders, 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.)

TYO:7011

Asia45d ago

Shenzhen Senior Technology Material Launches HK$1.3 Billion Hong Kong IPO

Shenzhen Senior Technology Material (SHE:300568, HKG:6067) launched its Hong Kong initial public offering on Friday, seeking to raise up to HK$1.34 billion.The Chinese lithium-ion battery separator manufacturer is offering 149.5 million H shares at an indicative maximum price of HK$8.98 per share, according to a Hong Kong bourse filing.The offering comprises 15 million shares for Hong Kong investors and 134.6 million shares for international investors, with the latter subject to reallocation.The final offer price is expected to be determined by June 18, with allocation results due by June 22, ahead of the company's planned trading debut on June 23.Net proceeds will be used primarily to strengthen research and development capabilities in solid-state electrolyte membranes, other functional membranes, and next-generation lithium-ion battery separator products.The company also plans to use the funds to expand its overseas network in Malaysia and the U.S., invest in battery separator materials and semiconductor-related businesses, repay a loan for its manufacturing base in Sweden, and boost working capital.The company secured 13 cornerstone investors, including NYSE-listed JinkoSolar and Sunwoda Electronic (SHE:300207), that committed to subscribe to $77.5 million worth of IPO shares.China Securities (International) Corporate Finance, Huatai Financial Holdings (Hong Kong), CICC Hong Kong Securities, ICBC International Securities and Vast Harbour Securities are the joint global coordinators, joint bookrunners and joint lead managers of the IPO.

HKG:6067SHE:300568

Asia45d ago

Fitch Affirms NTPC's BBB- Rating, Keeps Outlook Stable

Fitch Ratings has affirmed NTPC's (NSE:NTPC, BOM:532555) long-term foreign- and local-currency issuer default ratings (IDRs) at BBB-, according to a statement issued on Thursday.The ratings agency has also kept the outlook for the state-owned power producer at stable.The agency has also affirmed the BBB- ratings on the company's $6 billion medium-term note program and the notes issued under the program."NTPC's Standalone Credit Profile (SCP) of 'bbb' is underpinned by its regulated business model that enjoys high revenue and profit visibility as long as its plants are available, irrespective of actual off-take and fuel price fluctuations," Fitch said.

BOM:532555NSE:NTPC

International45d ago

Philippines' Net FDI Inflows Decline in March

Net foreign direct investment (FDI) inflows into the Philippines declined to their lowest level in two months in March, according to preliminary data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday.Inflows surpassed outflows by $611 million in the month, weaker than $638 million in February.In the quarter ended March, net FDI inflows fell 17% to $1.7 billion from Q1 2025. The Bangko Sentral ng Pilipinas expects net FDI inflows to hit $7.5 billion by the end of this year.

^PSE

Asia45d ago

Santos, Karoon Energy Shares Slide as Oil Price Hits Two-Month Low

Santos (ASX:STO) shares fell over 1% in recent Friday trade, while Karoon Energy (ASX:KAR) shed nearly 3%, as the price of oil hit a two-month low after US President Donald Trump canceled plans to strike Iran.Brent crude futures were down 1.3%, and WTI crude declined 1.4%, both sitting below the $90 per barrel mark.In a social media post, Trump said he called off strikes on Iran because discussions between the two sides have progressed, creating hope for a peace deal to end the conflict.

ASX:KARASX:STO

Asia45d ago

Market Chatter: Nissan Targets 30-Month Development Cycle, Halving Time with AI

Nissan Motor Co (TYO:7201) aims to cut new model development to 30 months, mirroring Chinese automakers' use of AI for faster launches, Nikkei Asia reported on Friday, citing an interview with President Ivan Espinosa.The next-generation Skyline, debuting this winter, was developed in 26 months, down from 55 for its predecessor, the news agency said.Slow development has previously hurt Nissan's ability to offer popular cars and dampened earnings, the publication 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.)

TYO:7201

Asia45d ago

Solstice Minerals Intersects Wide Mineralization Beyond Resource Boundary at Western Australia Project; Shares Up 3%

Solstice Minerals (ASX:SLS) intersected wide mineralization zones 160 meters to the north of the current mineral resource estimate boundary at its Nanadie project in Western Australia, according to a Friday filing with the Australian bourse.Initial assays from the second-phase reverse circulation drilling yielded 44 meters at 0.52% copper, 0.14 grams per tonne grade of gold from 93 meters, within a broader combined anomalous intercept of 112 meters at 0.44% copper, 0.14 g/t grade of gold from five meters, the filing said.Mineralization was confirmed over a strike length of roughly 1.2 kilometers, remaining open to the north.Step-out drilling is underway at the southern end of the deposit, per the filing.Shares rose 3% in morning trade on Friday.

ASX:SLS

Asia45d ago

Market Chatter: US to Tap Japan's $550 Billion Pledge for Nuclear Expansion

The U.S. plans to use part of Japan's $550 billion investment commitment to build and expand nuclear plants, Nikkei Asia reported on Friday, citing Commerce Secretary Howard Lutnick.Discussions are underway for Japan to invest up to $40 billion in GE Vernova and Hitachi's small modular reactors, and an additional $25 billion is being considered for NuScale Power, according to the report.Total Japanese investment in U.S. nuclear projects could exceed $62 billion, with the first project expected in Tennessee, the publication said.The Trump administration has already initiated approval procedures for small modular reactors, 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

Asia45d ago

Vita Life Sciences Expects H1 Sales to Increase From a Year Earlier

Vita Life Sciences (ASX:VLS) expects a pre-tax profit of AU$6.8 million to AU$7.3 million and sales of AU$46.3 million to AU$47.3 million for the half year ending June 30, according to a Friday filing with the Australian bourse.For the first half of 2025, the company booked a pre-tax profit of AU$6.8 million on sales of AU$45.5 million, per the filing.Vita Life Sciences said it expects "solid revenue growth" in the markets of Australia, Malaysia, and Singapore, partially offset by lower exports to China amid a shifting regulatory landscape and channel dynamics.

ASX:VLS

Asia45d ago

CapitaLand Ascendas REIT Reallocates SG$30.9 Million to Debt Repayment

CapitaLand Ascendas REIT (SGX:A17U) plans to reallocate SG$30.9 million from its SG$903.5 million fund raise towards debt repayment rather than for part-financing a potential acquisition, according to a filing to the Singapore stock exchange on Thursday.The company had initially earmarked S$30.4 million to partially finance the potential acquisition of a light industrial asset in Singapore; however, it has since dropped the plan and plans to use the funds for debt repayment purposes.Out of the total gross proceeds, SG$4.2 million was used to pay the estimated fees and expenses incurred in connection with the equity fund raising, while the reallocated SG$30.9 million was fully deployed for debt repayment purposes, bringing the cumulative utilization across these two categories to SG$35.1 million.The total gross proceeds of SG$903.5 million were raised through a multi-tranche equity fund raising earlier this year, which included a private placement of 249.4 million units at SG$2.406 per unit alongside a concurrent preferential offering.

SGX:A17U

Asia45d ago

DigiCo Infrastructure REIT to Sell Los Angeles Sites; Reaffirms Fiscal 2026 Underlying EBITDA Guidance

DigiCo Infrastructure REIT (ASX:DGT) entered into a conditional purchase and sale agreement to sell its LAX1 and LAX2 sites in Los Angeles, according to a Friday Australian bourse filing.The real estate investment trust's available liquidity will increase to around AU$1 billion after the sale of the Los Angeles sites and CHI1 in Chicago, providing funding for the SYD1 development.Completion of the transaction is subject to customary conditions and is expected to occur in the first half of fiscal 2027.The REIT reaffirmed its fiscal 2026 underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance of AU$125 million, per the filing.The REIT's shares gained about 1% in recent Friday trade.

ASX:DGT

Asia45d ago

South Korean Shares Open Sharply Higher on Hopes of US-Iran Deal

South Korean shares opened sharply higher on Friday after U.S. President Donald Trump claimed that Washington and Tehran had reached a "great settlement" and were finalizing documents for an agreement.The benchmark Korea Composite Stock Price Index, or Kospi, rose 6.4%, or 499.9 points, to open at 8,263.85. The Kosdaq increased by 3%, or 30.12 points, to open at 1,027.05.

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US Markets45d ago

New Zealand's Manufacturing Sector Fights On Despite Contraction

New Zealand's manufacturing sector is seeing the impact of weakening customer demand and higher fuel prices, but remains above the lows seen a few years ago.Four out of five components that make up the BusinessNZ Performance of Manufacturing Index are still in expansion, even though the index crossed contraction territory to 49.9 in May from 50.4 in April and 52.8 in March.A reading over 50 shows that the sector is expanding, but a number below that points to a contraction.Head of Research Stephen Toplis said that the New Zealand economy can gain back momentum by the end of the year, given a possible resolution to the Middle East conflict, leading to a recovery for manufacturers.BusinessNZ flagged the risk of excess inventories as a wide gap was seen between finished goods stocks and new orders, which it said is "bad news" for future production.According to a Wednesday report by Westpac, the manufacturing sector is expected to increase by 2.8% of gross domestic product in the first quarter. It remains one of the biggest contributors to GDP as the impact of the Middle East conflict is yet to flow through into activity.The Reserve Bank of New Zealand on Tuesday reported that manufacturing operating income fell to NZ$35.7 billion in the March quarter, compared with NZ$36.8 billion in the December 2025 quarter.

^NZ50

Asia45d ago

Vitrafy Life Sciences to Raise AU$30 Million via Placement; Shares Down 20%

Vitrafy Life Sciences (ASX:VFY) received firm commitments to raise AU$30 million through the issue of about 11.5 million new shares at AU$2.60 apiece, according to a Friday filing with the Australian bourse.The company will also offer eligible shareholders the opportunity to participate in a non-underwritten shares purchase plan to raise up to a further AU$2 million at the same price as the placement, the filing said.Proceeds will be used to fund the manufacturing of Guardion devices, with additional funds deployed towards the expansion of US sales and operations, per the filing.Shares fell nearly 20% in morning trade Friday.

ASX:VFY

Asia45d ago

WCM Global Growth Renews Share Repurchase Program for 12 Months

WCM Global Growth's (ASX:WQG) board approved the renewal of an on-market share repurchase program for 12 months through June 28, 2027, according to a Friday filing with the Australian bourse.The timing and number of shares purchased under the program will be subject to the share price and market conditions, the company said.The company's shares were up nearly 1% in recent Friday trade.

ASX:WQG

Asia45d ago

Market Chatter: Thai Airways Sees Travel Demand Moderating This Year

Thai Airways International (BKK:THAI) expects travel demand to moderate this year amid economic uncertainty stemming from the conflict in the Middle East and fare reductions by major carriers, Bloomberg News reported Thursday, citing Chief Executive Officer Chai Eamsir."The consumer has to think twice before spending money, that's why we saw some slowdown in forward bookings coming in," Eamsiri was quoted by Bloomberg as saying.After initially benefiting from the Middle East conflict as travelers sought to avoid Gulf transit hubs, Thai Airways is now facing pressure from lower ticket prices offered by competitors. The carrier has reduced flight frequencies in recent months due to weaker demand and high jet fuel costs, according to the report.Looking ahead, Thai Airways remains optimistic about its long-term growth prospects. Eamsiri said the airline has held discussions with Boeing and Airbus on a potential order for 10 widebody aircraft and plans to retrofit 14 jets with premium economy cabins.(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.)

BKK:THAI

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