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Sinolink Securities to Repurchase Up to 300 Million Yuan of Shares

Sinolink Securities (SHA:600109) plans to repurchase between 150 million yuan and 300 million yuan of shares, according to a Wednesday filing with the Shanghai bourse.The brokerage will buy back between 11.5 million and 23.1 million shares for up to 13 yuan apiece within three months from director approval.

SHA:600109

Asia46d ago

Chinese Shares Down Amid Widening Inflation Split; BOE Technology Falls 7%

Chinese shares were down on Wednesday as the country's inflation split widened, with producer prices outpacing consumer prices.The Shanghai Composite Index, the main gauge of Chinese stocks, slid 0.4% to 3,993.23. The Shenzhen Component Index plunged 2.1% to 14,954.10.China's annual producer inflation accelerated to 3.9% in May. This was in line with the consensus forecast, but faster than the 2.8% recorded in April.In contrast, annual consumer inflation stalled, remaining steady at 1.2%. This was lower than the consensus forecast of 1.3% and unchanged from the pace recorded in April.Core inflation, which excludes volatile food and energy prices, rose 1.1% year over year, easing from 1.2% in April.The widening gap between producer and consumer prices suggests manufacturers' ongoing difficulties in passing higher input costs downstream and thus suffering from margin compression, Bloomberg News cited Serena Zhou, senior China economist at Mizuho Securities.In company news, BOE Technology (SHE:000725) controlling subsidiary BOE Energy Technology plans to terminate its application for a public issuance of shares and listing on the Beijing Stock Exchange. Shares of the electronics components producer closed 7% lower Wednesday.

Shanghai Composite^SZSESHE:000725

Asia46d ago

Hindustan Zinc Signs MoU with Sulfozyme Agro for Zinc Industrial Park Project

Hindustan Zinc (NSE:HINDZINC, BOM:500188) has signed a memorandum of understanding with Sulfozyme Agro India under its Zinc Industrial Park initiative in Bhilwara, Rajasthan, according to an Indian bourse filing on Wednesday.Under the agreement, Sulfozyme Agro plans to set up operations at the industrial park to process "zinc-based materials into value-added products for industrial and downstream applications," the filing said.Hindustan Zinc will provide raw material linkages and support for supply chain and manufacturing operations within the industrial park ecosystem, the company said.

BOM:500188NSE:HINDZINC

Asia46d ago

South Korean Shares Close Sharply Lower on Fresh US-Iran Conflict

South Korean shares closed sharply lower on Wednesday on renewed US-Iran tensions after the US military's Central Command said it carried out self-defense strikes against Iran after Iranian forces allegedly shot down a U.S. attack helicopter over the Strait of Hormuz on Monday.In retaliation, Iran's Islamic Revolutionary Guard Corps (IRGC) launched attacks on U.S. military installations in Bahrain, Kuwait and Jordan. The IRGC attacked the U.S. Fifth Fleet in Bahrain and the Ali Al Salem Air Base in Kuwait with drones, while also setting off a long-range missile strike against an air base in Jordan's Azraq.The Korea Composite Stock Price Index or Kospi fell 366.11 points, or 4.5%, to end at 7,730.82. The Kosdaq also decreased by 16.18 points, or 1.7%, to close at 951.63.South Korea plans to crack down on speculative foreign-exchange trading, with regulators set to carry out on-site inspections and investigations into suspected market-disruptive activities, Bloomberg reported Wednesday, citing Moon Jisung, deputy finance minister for international affairs.The move comes as the country intensifies its efforts to defend its currency after the won slid to its weakest level since 2009 in the week ended June 6.The Korean won gained 1.2% to 1,509.50 per dollar on Tuesday, extending its 2% gain on Monday, after the government reaffirmed its commitment to support the currency and investigate speculative trading.In corporate news, Prestige Biologics (KOSDAQ:334970) secured a contract to manufacture active pharmaceutical ingredients from an undisclosed client, according to a Wednesday filing with the Korea Exchange.The contract, valued at 2.67 billion won, is valid till March 31, 2027.Shares of Prestige Biologics added nearly 2% at market close.

^KOSDAQKOSPIKOSDAQ:334970

Asia46d ago

Goertek Directors Approve 500 Million Yuan Capital Injection in Optical Instrument Maker

Goertek (SHE:002241) directors approved a 500 million yuan capital increase in Goertek Optics Technology, according to a Wednesday filing with the Shenzhen bourse.The listed company subscribe to 109.8 million yuan of Goertek Optics' newly registered capitalFollowing the capital increase, Goertek's share will rise to 39.6676% from 38.3412%.Goertek Optics Technology manufactures optical instruments and virtual reality components.Shares closed 4% lower on Wednesday.

SHE:002241

Japan46d ago

Japanese Shares Close in Red as US Strike on Iran Dents Investor Sentiment

Japanese shares experienced choppy trade on Wednesday to close in the red after heightened tensions in the Middle East after the US' latest strikes on Iran raised concerns among investors.The Nikkei 225 closed down 1.9%, or by 1,237.36 points, to end at 64,179.27.According to news reports, the US launched new strikes on Iran after a U.S. Apache helicopter was shot down in the Strait of Hormuz. Iran responded to the attack by saying it will not leave any attack or threat unanswered.This has raised concerns about a potential peace deal in the Middle East. The flare-up has also pushed up crude oil prices, denting investment sentiment further.On the corporate side, Nintendo (TYO:7974) shares closed down nearly 7%, after its Nintendo Direct presentation for upcoming games fell short of investor expectations for brand-new titles, Bloomberg News reported Wednesday.Also, shares of Seven Bank (TYO:8410) closed reported 98.1 million ATM transactions in May, up 4.5% on year, according to a Wednesday filing on the Tokyo Stock Exchange.

Nikkei 225TYO:7974TYO:8410

Asia46d ago

Unisplendour Completes Acquisition of Additional Stake in H3C Holdings

Unisplendour (SHE:000938) completed the registration related to the acquisition of H3C Holdings, according to a Shenzhen bourse filing on Wednesday.The semiconductor company's subsidiary, Unis International Information Technology, is one of the seven owners of a 19% stake in H3C Group. The acquisition also raised the company's indirect shareholding in H3C to 87.98% from 81%.The Chinese information technology company's shares fell 2% at the close.

SHE:000938

Equities46d ago

Coastal Africa Group Debuts on London Bourse Following GBP17.4 Million Fundraising

Coastal Africa Group (CAGL.L) began trading on the London stock exchange on Wednesday after raising 17.4 million pounds sterling through an issue of 10,783,627 shares priced at 1.61 pound each.Following admission, the oil and gas-focused investor will have 135,783,627 shares in issue with a market capitalization of 218.7 million pounds. Separately, BP Oil International, a unit of energy giant BP (BP.L), agreed to subscribe for 10 million pounds in convertible loan notes.Coastal Africa will use the proceeds to acquire a portfolio of minority, non-controlling interests in assets in the West African oil and gas sector, cover transaction-related due diligence and corporate costs, and support a planned acquisition aimed at transforming the business into an operating company.

$BP.L$CAGL.L

Asia46d ago

Petronas Unit Enters 20-Year LNG Supply Contract with Tokyo Electric-Chubu Electric JV

Petroliam Nasional, or Petronas, unit Petronas LNG agreed to supply up to 2 million tons per annum of LNG to Japan's Jera, according to a company release on Wednesday.The contract will run for 20 years beginning in 2028.The company will deliver the LNG using its new generation of 174,000-cubic-meter LNG carriers.The LNG market is being influenced by high demand, supply disruption, price volatility, and security issues."PETRONAS remains focused on delivering reliable and tailored solutions, supporting our partners in strengthening energy security while advancing their transition ambition," PETRONAS Executive Vice President and CEO of Gas and Maritime Business, Datuk Adif Zulkifli, said.Jera is a joint venture of Tokyo Electric Power Company (TYO:9501) and Chubu Electric Power (TYO:9502).

FTSE Bursa Malaysia KLCITYO:9501TYO:9502

Asia46d ago

Industrial and Commercial Bank of China Completes Redemption of 70 Billion Yuan of Tier 1 Capital Bonds

Industrial and Commercial Bank of China (SHA:601398, HKG:1398) completed the full redemption of tier 1 capital bonds issued in 2021, according to a Wednesday filing with the Shanghai bourse.The bank issued 70 billion yuan of the tier 1 capital bonds from June 4 to 8, 2021, and the bonds were redeemable in full at face value at the dividend payment date on the fifth year of interest accrual.Shares rose 2% in Shanghai 1% in Hong Kong during afternoon trading on Wednesday.

HKG:1398SHA:601398

Asia46d ago

Invictus Energy Says It Disclosed Information Related to Zimbabwe Petroleum Production Sharing Agreement When It Was 'Sufficiently Definite'

Invictus Energy (ASX:IVZ) said it did not make a statement about the petroleum production sharing agreement in Zimbabwe before May 28 because it "was not in possession of information that was sufficiently definite to warrant disclosure at an earlier time," according to a Wednesday ASX filing.The firm was responding to an ASX Aware Letter dated June 4. The firm said it had not received confirmation that signing would proceed until the evening of May 26. Before that date, the execution of the agreement remained uncertain and subject to further governmental approvals and processes that were outside the firm's control.Geo Associates, the 80%-Invictus-owned operator and holder of special grant 4571, and the Zimbabwe government executed a petroleum production sharing agreement for the Cabora Bassa project in the African country.Invictus received notification from the Zimbabwe government on the evening of May 26 regarding its intention to sign the agreement after the close of trading. The firm said it requested a trading halt, effective from the commencement of trading on May 27, and a market announcement regarding the execution of the agreement was released on May 28.

ASX:IVZ

Asia46d ago

GnCenergy Wins KRW38.2 Billion Paju Center Phase 2 Generator Contract from LG Uplus

GnCenergy (KOSDAQ:119850) secured a contract for the Paju center phase two generator from LG Uplus (KRX:032640).The contract, valued at 38.2 billion won, is valid until March 31, 2028, the South Korean emergency power generation company said in a filing with the Korea Exchange on Wednesday.Shares of GnCenergy rose nearly 9% at market close, while those of LG Uplus fell over 1%.

KOSDAQ:119850KRX:032640

Asia46d ago

Market Chatter: Rising Subsidy Costs Threaten Malaysia's 2026 Deficit Goal

Malaysia could miss its 2026 fiscal deficit target due to rising fuel subsidy costs triggered by the Iran-Israel conflict, according to a Wednesday Bloomberg News report.In an interview with Bloomberg TV, Second Finance Minister Amir Hamzah Azizan said the government may "slightly" miss the goal, but stressed that protecting vulnerable households remains the immediate priority. He added that longer-term consolidation plans are still on track.Fuel subsidies have surged as global energy disruptions hit domestic costs, though the government has kept RON95 petrol prices unchanged at heavily subsidized levels. Inflation rose to 1.9% in April, while subsidy spending eased to 3.5 billion ringgit in May after spiking to 7.5 billion ringgit in April.Despite near-term pressures, Malaysia is maintaining its medium-term fiscal aim of reducing the deficit below 3% of GDP by 2028, from 5.5% in 2022, 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.)

FTSE Bursa Malaysia KLCI

Asia46d ago

CSSC Science& Technology Faces 2 Billion Yuan Impairment Compensation

CSSC Science & Technology (SHA:600072) said its major asset restructuring target assets, particularly CSSC Haizhuang Wind Power, suffered an impairment of 4.49 billion yuan after the 2023-2025 performance commitment period.Accumulated operating losses and business adjustments triggered the compensation clause, according to a Wednesday filing with the Shanghai bourse. Total compensation amount required for the impairment test is 2.00 billion yuan.The company proposes to repurchase and cancel 174.7 million shares from guarantors at 1 yuan each, plus pay 12.1 million yuan in cash. The proposal requires shareholder approval.Total share capital will shrink to 1.31 billion shares from 1.50 billion shares upon completion.Shares of the energy company rose 1% in recent trade.

SHA:600072

Asia46d ago

China Bester Group Telecom Bags Bid for Computing Power Hub Project for 740 Million Yuan; Shares Up 10%

China Bester Group Telecom (SHA:603220) won the bid for the Hubei Yichang Dianjun Huayun Intelligent Computing Power Hub Center Project for 739.7 million yuan, according to a Shanghai bourse filing on Wednesday.Hubei Huayun Computing Power Investment and Construction is the project's owner.The work will include the installation and commissioning of computing cluster equipment, as well as electromechanical works for the data center.The telecommunications company's shares jumped 10% during the afternoon trade.

SHA:603220

Asia46d ago

CSSC Science & Technology to Invest 4.15 Billion Yuan in Three Wind Farm Projects in China

CSSC Science & Technology (SHA:600072) directors approved a 4.15 billion yuan investment in three wind farm projects in China, according to a Wednesday filing with the Shanghai bourse.The company will invest 1.70 billion yuan in the 300-megawatt Qinhuangdao wind farm project, 1.53 billion yuan for the 300-megawatt Qiqihar Gannan County Phase I wind power project, and 911.6 million yuan for the 150-megawatt Guangxi Yizhou Fulongyou wind farm project.Shares rose 1% during late afternoon trading.

SHA:600072

Asia46d ago

GF Securities Gets Result for Coupon-Rate Inquiry for Planned 6 Billion Yuan Bond

GF Securities (SHE:000776, HKG:1776) received results for an offline coupon-rate inquiry for a planned issuance of bonds worth up to 6 billion yuan, according to a Shenzhen bourse filing on Wednesday.The coupon rate for the first series was set at 1.68% and for the second series, it would be 1.78%.The bonds mark the company's fifth tranche for the year.The Chinese securities company's Shenzhen and Hong Kong shares both rose around 2% during the afternoon trade.

HKG:1776SHE:000776

Asia46d ago

Market Chatter: SoftBank Group's $6 Billion OpenAI Margin Loan Talks Stall

SoftBank Group's (TYO:9984) plans to raise about $6 billion through a margin loan backed by its stake in OpenAI have stalled, weeks after the Japan-based multinational investment group reduced its fundraising target from $10 billion.Bloomberg News reported Wednesday, citing people familiar with the matter, that the conglomerate is evaluating alternative financing options and may revive margin-loan talks at a later stage.During the earlier talks with potential lenders, the group secured about $5 billion in margin loan commitments, and the pause comes amid OpenAI's confidential filing for an initial public offering in the US, according to the report.Meanwhile, SoftBank's $60 billion commitment to OpenAI is under investor scrutiny amid growing competition in artificial intelligence and concerns over the future of AI business, 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.)

Nikkei 225TYO:9984

US Markets46d ago

Indonesia's Consumer Confidence Eases in May as Current Economic Conditions Weigh on Sentiment

Indonesia's consumer confidence slid in May, though it remained firmly in optimistic territory as consumers continue to expect better economic conditions ahead.The Consumer Confidence Index (CCI) fell to 120.9 from 123.0 in the previous month, remaining above the neutral 100-point threshold, according to a Wednesday release from Bank Indonesia.The decline was driven by the disparity between consumers' sentiment on current economic conditions and their expectations. The Current Economic Conditions Index slipped to 112.2 from 116.5 a month ago, while the Consumer Expectations Index, which tracks future outlooks, edged up slightly to 129.7 from 129.6.Under the current economic conditions, expectations for job availability and business activity remained high, but expectations for income slightly turned cautious.Meanwhile, the outlook for job availability and business activity in the coming months was also positive among various age groups surveyed for the Consumer Expectations Index.Data from Statistik Indonesia showed a strong labor market, with the number of employed people in February rising by 1.90 million to 147.7 million, while unemployment declined by 0.08 percentage points year on year to 4.68%. Official labor records for the March-to-May period have not yet been published.Consumer confidence remained upbeat in Indonesia after the country's manufacturing sector stabilized amid robust demand. The S&P Global Indonesia Manufacturing Purchasing Managers' Index rose to 50.0 in May from 49.1 in April.Along with a stable manufacturing activity, inflation in May rose to 3.08% due to higher prices of goods. Meanwhile, exports and imports jumped around 22% year on year, narrowing the country's trade surplus to $89.1 million in April.Bank Indonesia on Tuesday delivered a surprise, off-cycle 25-basis-point rate hike, raising its benchmark interest rate to 5.50% in a bid to support the weakening rupiah.Krystal Tan, ANZ's Asia Economist, said Indonesia's monetary policy reacted to both external and domestic circumstances."The off-cycle nature of today's rate hike, delivered nine days ahead of BI's scheduled monthly policy meeting, underscores the urgency of current pressures and suggests a willingness to respond more dynamically to evolving market conditions," Tan said.

^JKSE

Asia46d ago

Prestige Biologics Wins KRW2.67 Billion Contract for Active Pharma Ingredients

Prestige Biologics (KOSDAQ:334970) secured a contract to manufacture active pharmaceutical ingredients from an undisclosed client, according to a Wednesday filing with the Korea Exchange.The contract, valued at 2.67 billion won, is valid till March 31, 2027.Shares of Prestige Biologics added nearly 2% at market close.

KOSDAQ:334970

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US Markets46d ago

Indonesia's Consumer Confidence Eases in May as Current Economic Conditions Weigh on Sentiment

^JKSE