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Ningbo Fuda's Subsidiary to Offload Cement Clinker Production Line

Ningbo Fuda's (SHA:600724) subsidiary, Xinping Yingzhou Cement, plans to dispose of the capacity quota of one of its cement clinker production lines through public listing, according to a Wednesday disclosure on the Shanghai bourse.The proposed capacity quota for the transfer is 2,000 tons per day or 600,000 tons per year.After the transfer, Xinping Yingzhou will shut down and dismantle the rotary kiln and other major production equipment.The plastic products producer's shares rose 2% at the close.

SHA:600724

Asia48d ago

Mongolia Energy Warns of Wider Full-Year Loss

Mongolia Energy (HKG:0276) expects a pre-tax net loss of up to HK$362 million for the year ended March 31, compared with HK$172.5 million a year prior, according to a Wednesday Hong Kong bourse filing.The coal producer also expects a decline in revenue and gross profit.The forecast comes about amid a drop in sales volume, as well as the average selling price of clean coking coal.

HKG:0276

Asia48d ago

Singapore Shares Remain in Green Despite US-Iran Strikes

Singapore shares remained in the green zone on Wednesday, gaining nearly 1% at the close, despite the US and Iran conducting strikes against each other, fueling an uncertain economic outlook to the region.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,112.86 and 5,150.69 throughout the day. It ended the session at 5,138.24, up 40.82 points or 0.8% compared to Tuesday's close.On the corporate front, shares of Vin's Holdings (SGX:VIN) closed over 7% lower after the company concluded its special investigation audit over irregular transactions linked to a former senior employee and confirmed fraud risk indicators.JustCo's (SGX:JCO) shares were down over 5% at the close as its stabilizing manager, DBS Bank, purchased 642,8000 shares in the company on June 2 between the price range of SG$0.685 and SG$0.765 per share.Meanwhile, Emerging Towns & Cities Singapore (SGX:1C0) secured a key regulatory waiver from the Singapore Exchange Regulation (SGX RegCo) regarding earlier undertakings in connection with a convertible loan agreement with Luo Shandong.

^STISGX:1C0SGX:JCOSGX:VIN

Asia48d ago

Market Chatter: Lite-On Technology Expects Strong Profitability in H2

Lite-On Technology (TPE:2301) expects a stronger second half of this year on AI-fueled demand and higher capital spending, Taipei Times reported Wednesday, citing the company's president.The Taiwanese electronics manufacturer targets an earnings per share higher than last year's NT$6.64, company president Anson Chiu reportedly said on the sidelines of a Taipei trade show.AI-related products, including server power and cooling solutions, are expected to make up about 30% of revenue this year, Chiu was quoted as saying.(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:2301

Commodities48d ago

EMEA Natural Gas Update: Futures Rise as Renewed Middle East Tensions Cast Doubt on Peace Deal

European natural gas futures were rallying on Wednesday as tensions continued to intensify in the Middle East, casting a cloud on peace negotiations between the US and Iran.The Dutch TTF front-month contract rose 3.91% to 49.470 euros ($57.45) per megawatt-hour, while the UK NBP front-month contract rose 4.05% to 119.440 British pence ($1.61) per therm.On Wednesday, US Centcom said on X that it had defeated "multiple Iranian ballistic missiles and drones," aimed at regional neighbors. The US also conducted another round of self-defense strikes against Iran's Qeshm Island in retaliation to Iran reportedly firing missiles at Kuwait and Bahrain.Meanwhile, the strategically crucial Strait of Hormuz remained effectively shut for the 14th week running, with just 4 vessels transiting over the past 24 hours, according to the Hormuz Strait Monitor.According to Daniel Hynes, a senior commodity strategist at ANZ, this is set to put additional pressure on European buyers, as they "struggle to refill storage facilities," as Asian imports continued to rise since April.Hynes also warned that the region's supply constraints could worsen with Australian workers at the Ichthys LNG facility commencing strikes after talks stalled between the union and the company.European gas inventories remained depleted at just 40.76% of capacity, compared to 48.88% during the corresponding period a year ago, according to data from Gas Infrastructure Europe.Inventories were also significantly below the five-year average for this period, at 54.7%, according to the Swiss Federal Office of Energy.

Asia48d ago

Winnovation to Offload Subsidiary for 100 Million Yuan

Winnovation Culturaltainment Development (SHE:000620), through its units, agreed to fully offload subsidiary Xining Yingxin Real Estate for a total consideration of 100 million yuan, according to a Shenzhen bourse filing on Wednesday.Xipeng Municipal Construction (Jiangsu) will acquire Xining Yingxin Real Estate.Moreover, Winnovation's subsidiary, Changsha Tongguan Kiln Guofeng Amusement Park Culture Tourism, signed an agreement with Xipeng Municipal Construction for the latter to assume Changsha Tongguan Kiln's debt worth 353.3 million yuan.The Chinese cultural tourism company's shares rose 1% at the close.

SHE:000620

Asia48d ago

Offcn Education Technology Shareholder Offloads Stake Via Forced Liquidation

Offcn Education Technology (SHE:002607) shareholder Beijing Zhonggong Future Information Consulting Center offloaded about 12.9 million shares through forced liquidation, according to a Wednesday filing with the Shenzhen bourse.Wanhe Securities completed the forced liquidation of shares at an average price of 2.425 yuan apiece due to an overdue financing contract between Wanhe and Zhonggong Future.Following the forced liquidation, Zhonggong Future's liabilities to Wanhe will have been repaid.

SHE:002607

Asia48d ago

Minmetals Development Names Chairman

Minmetals Development (SHA:600058) appointed Li Zhicong chairman, according to a Shanghai bourse filing on Wednesday.Li stepped down as general manager to take up the new role.The Chinese integrated steel trading and logistics services provider has yet to name a new general manager.

SHA:600058

Asia48d ago

Market Chatter: Taiwan to Join World's Top 20 List in 2027 on AI Boom

Taiwan is emerging as a key force in global AI development, supported by a strong economic upgrade, and is expected to enter the world's top 20 economies in 2027, CNA reported Wednesday, citing President Lai Ching-te's opening address at COMPUTEX 2026.He said Taiwan's stock market capitalization reached $4.95 trillion in May, ranking fifth globally, while the government raised its economic growth forecast to 9.64% for next year. He credited these gains to coordinated efforts across industry, SMEs, and workers, according to the report.Lai also highlighted growing global tech investment and government measures to secure talent, land, water, and power supply, adding that Taiwan aims to remain a stable and trusted hub for AI-driven growth, CNA 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.)

Taiwan Weighted

Asia48d ago

Asahi Reports 1.4% Sales Growth in May

Asahi (TYO:3333) reported a 1.4% year-on-year increase in net sales for May, according to a Wednesday filing on the Tokyo Stock Exchange.Customer numbers inched up 0.8% during the period from April 21 to May 20, while sales per customer gained 0.7%, indicating growth was driven primarily by footfall.At existing stores, sales increased 0.4%, with customer numbers slipping 0.2% and spending per customer up 0.6%.

TYO:3333

Research48d ago

HSBC Downgrades Thermo Fisher Scientific to Hold From Buy, Adjusts Price Target to $540 From $670

Thermo Fisher Scientific (TMO) has an average rating of buy and mean price target of $602.50, 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)

$TMO

Research48d ago

Morgan Stanley Downgrades Chipotle Mexican Grill to Equalweight From Overweight, Adjusts PT to $37 From $49

Chipotle Mexican Grill (CMG) has an average rating of overweight and mean price target of $43.06, 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)

$CMG

Research48d ago

Morgan Stanley Upgrades Yum! Brands to Overweight From Equalweight, Adjusts PT to $185 From $180

Yum! Brands (YUM) has an average rating of overweight and mean price target of $174.84, 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)

$YUM

Asia48d ago

Nippon Life, Blackstone Team Up on Private Credit Investment

Nippon Life Insurance will invest about 1.5 trillion yen in private credit and structured credit strategies through Blackstone over the next five years, the companies said Wednesday.The allocation is part of a broader partnership between the two firms, which also covers real estate and asset management capabilities.

Nikkei 225

Asia48d ago

NMDC Sets Iron Ore Prices for June

NMDC (NSE:NMDC, BOM:526371) said it has set iron ore prices effective June 3, according to a Wednesday filing on Indian bourses.Baila Lump (65.5%, 10-40 mm) has been priced at 5,700 Indian rupees per ton, while Baila Fines (64%, -10 mm) have been fixed at 4,850 rupees per ton, the filing said.Shares of the company rose over 1% in recent trade.

BOM:526371NSE:NMDC

Asia48d ago

Air Liquide to Invest 200 Million Euros in New Nitrogen Production Unit in South Korea to Support SK Hynix's Cheongju Facility

French industrial gases company Air Liquide plans to invest nearly 200 million euros in a new nitrogen production unit in South Korea to support SK Hynix's (KRX:000660) new packaging and testing fab "P&T7", situated in Cheongju, Air Liquide said in a Wednesday release.The Cheongju facility is an industrial project dedicated to the advanced packaging of high-bandwidth memory (HBM).Air Liquide's new facility will supply high-purity gases and high-purity compressed air to the fab and is expected to commence operations in late 2027, the report said.

KRX:000660

International48d ago

Eurozone's Monthly Producer Prices Up 0.6% in April

The euro area's industrial producer prices were up 0.6% month over month in April, following a 3.4% rise in March, according to Eurostat data published Wednesday.Analysts expected a 0.4% increase for the month.On a yearly basis, producer prices climbed 4.9%, against the revised 2% increase earlier and the consensus of a 4.8% growth.

^SXXP

Oil & Energy48d ago

Market Chatter: Dangote Refinery Could Supply Jet Fuel to Global Markets, Says CEO

The Dangote refinery in Nigeria, with a 650,000 barrel-per-day capacity, holds a substantial jet fuel surplus, allowing it to cater to global markets, CEO David Bird said according to a Reuters report.Jet fuel supply has faced severe disruptions due to conflict in Iran which has blockaded the Strait of Hormuz shipping chokepoint.The geopolitical bottleneck has created an export window for non-Middle Eastern refiners like Dangote to plug shortages across international distribution networks.The chief executive, speaking at the S&P Global Energy Middle East Petroleum and Gas Conference, confirmed that the Nigerian complex is presently operating at 100% of its designed processing utilization rate, as per the report.He did not offer further context on volumes and the potential impact for global markets or why the company has not sold some of the surplus already.Subdued domestic consumption across African markets has left the facility with significant excess volumes earmarked for overseas export markets.(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.)

Equities48d ago

Energean's Planned Angola Block Acquisition Faces Pre-emption Rights Setback

Energean (ENOG.L) said Wednesday that Etu Energias sought to exercise its pre-emption rights over Chevron's (CHV.F) interests in Block 14 and 14K in offshore Angola, which the natural gas-focused exploration and production company is planning to acquire.Energean added that its acquisition deal with Chevron remains in effect until the relevant pre-emption right is validly exercised and executed, and until a new sale and purchase agreement between Chevron and Etu Energias has been completed.The company also noted that the Angola-based Etu Energias, which is one of Chevron's joint venture partners, must satisfy the same buyer conditions, including proving that it is a deepwater oil and gas operator with at least one existing producing asset at water depths of over 300 meters.In March, Energean agreed to purchase Chevron's 31% operated interest in Block 14 and 15.5% non-operated interest in Block 14K for a base consideration of $260 million, plus up to $250 million in contingent payments.

$CHV.F$ENOG.L

Asia48d ago

Buchang Pharma Unit Completes Business Scope Expansion

Shandong Buchang Pharmaceuticals (SHA:603858) subsidiary Buchang Qihang Pharmaceutical Sales completed the industrial and commercial registration changes to expand its business scope, according to a Wednesday filing with the Shanghai bourse.The subsidiary, with a registered capital of 6 million yuan, now holds approval for pharmaceutical retail and wholesale, Class III medical device operations, disinfection device sales, and road freight transport.Shares of the pharmaceutical company were down 1% Wednesday.

SHA:603858

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