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James Hardie Reports Solid Quarter, Driven by Upside on margins, Growth in Decking, Jefferies Says

James Hardie Industries (ASX:JHX) reported a solid quarter, despite weaker volumes in siding, with the beat driven by upside on margins and growth in decking, according to a Wednesday note by Jefferies.James Hardie reported fiscal fourth quarter adjusted earnings of $0.30 per share, down from $0.36 a year earlier and in line with expectations. It also reported earnings before interest, taxes, depreciation, and amortization of AU$381 million, ahead of consensus.Its management is confident it can deliver organic growth in siding from its commercial initiatives, even in a down market. For the full year, the management expects sales of AU$5.25 billion to AU$5.41 billion and EBITDA of AU$1.450 billion to AU$1.50 billion.James Hardie framed the macroeconomic backdrop as challenging, with mortgage rates rising. Integration of Azek and executing on commercial synergies remains the firm's strategic focus. It is on track to hit AU$125 million run-rate revenue synergies exiting fiscal 2027.The investment firm has a buy recommendation on James Hardie with a price target of AU$30 per share.

ASX:JHX

Asia52d ago

Market Chatter: YMTC Begins Pre-IPO Tutoring

Yangtze Memory Technologies or YMTC has begun preparing for its planned initial public offering on the Shanghai Stock Exchange, Bloomberg News reported on Tuesday, citing a company statement.The Chinese chipmaker tapped local brokers CITIC Securities and CSC Financial for the pre-listing tutoring process, 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.)

Shanghai Composite^SZSE

Asia52d ago

Elevra Lithium Shareholder Bank of New York Mellon Cuts Stake; Shares Rise 3%

Elevra Lithium (ASX:ELV) shareholder Bank of New York Mellon reduced its stake in the company to about 34.8 million shares, or roughly 18% of voting power, from about 36.2 million shares, or 21.3% of voting power, according to a Wednesday filing with the Australian bourse.Shares of Elevra Lithium gained 3% in recent Wednesday trade.

ASX:ELV

Asia52d ago

Godawari Power Commissions 25 MWp Captive Solar Power Plant in Chhattisgarh, India; Shares Up 4%

Godawari Power & Ispat (NSE:GPIL, BOM:532734) commissioned its 25 MWp captive solar power plant of the company in Chawardhal in the Rajnandgaon district of Chhattisgarh, India, according to a Tuesday filing to the Indian stock exchanges.The company's shares were up nearly 4% in Wednesday's trade.The power generated at the above new solar power plant will be captively consumed at the company's Ari Dongri iron ore mines and Boria Tibu iron ore mines for mining activities.This will help the company replace the high-cost power being purchased from the state power distribution company, it said.

BOM:532734NSE:GPIL

Asia52d ago

Market Chatter: Singapore GasCo Secures LNG Stock for 2026

State-owned Singapore GasCO said it has secured sufficient liquefied natural gas (LNG) for the remainder of the year, according to a report by The Business Times on Wednesday.The move comes following the US-Iran conflict, which has impacted fuel shipments passing through the Strait of Hormuz, the report added.As part of its energy security strategy, the company is also looking to wrap up long-term deals with the likes of the US, Australia and Canada, according to CEO, Alan Heng.The city-state is completely reliant on natural gas to meet its electricity needs, 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.)

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Asia52d ago

Market Chatter: Putin Invites Xi for 2027 Russia Visit

Russian President Vladimir Putin has invited his Chinese counterpart Xi Jinping to visit Russia in 2027, saying that the ties between their two countries are at "an unprecedented level," Reuters reported Wednesday.(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.)

Shanghai Composite^SZSE

Asia52d ago

CVC Shares Fall After CEO Mark Avery's Resignation

CVC (ASX:CVC) shares fell about 3% in recent Wednesday trade after the company said late Tuesday that CEO Mark Avery is leaving to pursue other opportunities.Avery, who has been at the company's helm for almost seven years, is expected to remain in his executive role until July.CVC expects to appoint Andrew Ashwood, currently general manager of development, as its next CEO.

ASX:CVC

Asia52d ago

Market Chatter: Southern Cross Media 4.2% Stake Said to Be Subject of Cross Trade, AFR Says

Aitken Mount reportedly cross-traded a 4.2% stake in Southern Cross Media Group's (ASX:SXL) shares on issue on Wednesday, consisting of 20 million shares in the firm at AU$0.56 per share, with former Seven Network commercial director Bruce McWilliam speculated to be the buyer and Spheria Asset Management the seller, the Australian Financial Review (AFR) reported on the same day.If McWilliam is confirmed as the buyer, it will increase his Southern Cross stake to 9.5%, making him the company's top three shareholders.McWilliam could not be reached for comment, per 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.)

ASX:SXL

Asia52d ago

Market Chatter: OpenAI Commits More than SG$300 Million to Establish AI Lab in Singapore

OpenAI has agreed to invest more than SG$300 million to establish an AI Lab in Singapore, according to a report by Bloomberg on Wednesday.The developer of ChatGPT is targeting to hire more than 200 people across various roles in the city-state over the next few years, the report added.The move is part of the company's push to form relationships with governments across the globe amid heightened competition from the likes of Anthropic and Alphabet, 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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International52d ago

New Zealand's Central Bank Expected to Keep Official Cash Rate Steady in May, ANZ Says

The Reserve Bank of New Zealand is expected to make no change to the official cash rate on May 27, leaving it steady at 2.25%, with a 50/50 chance of a rate hike in July, ANZ said in a note on Wednesday.The data since April has been a mix of a stronger starting point, as well as the early signs of the impact on confidence and spending.Fourth quarter gross domestic product was weaker than the February forecast. It showed the economy grew 0.2% quarter-over-quarter, versus the central bank's forecast of an 0.5% increase. Meanwhile, first-quarter consumer price index inflation was stronger than the central bank's expectations, with headline inflation of 3.1% rather than 3%.House prices may have capitulated in April, consistent with anecdotes of a sudden market stop. The performance of manufacturing index and performance of services index are both in contraction territory. ANZ card spending data shows a decline in discretionary spending as customers deal with a sharp increase in necessities and face more economic uncertainty.It won't be obvious what the right thing to do is in the wake of the oil shock. The best the monetary policy committee can do is try to keep in balance the risk of causing unnecessary pain now or risking unnecessary pain later.The analysts added that the market will be sensitive to any messaging, implying only limited tightening, the bank said.

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International52d ago

Malaysia's Exports Jump 36.9% in April

Malaysia's total trade rose 28.6% year-on-year to 336.7 billion ringgit in April, driven by strong growth in both exports and imports, according to data released by the Department of Statistics.Exports surged 36.9% to 182.7 billion ringgit, while imports climbed 20% to 154 billion ringgit.As a result, the trade surplus widened to 28.8 billion ringgit from 23.6 billion ringgit a year earlier.On a month-over-month basis, total trade, exports, imports and the trade surplus increased by 23.3%, 22.8%, 23.9% and 17.4%, respectively.For the January-April period, Malaysia's total trade reached 1.1 trillion ringgit, up 15.3% from 977.5 billion ringgit in the corresponding period of 2025, the data showed.

FTSE Bursa Malaysia KLCI

Asia52d ago

Xi Calls for Swift End of Middle East Hostilities

Chinese President Xi Jinping called for the immediate halt of hostilities in the Middle East during Russian President Vladimir Putin's state visit to China, Xinhua News reported Wednesday.Xi said the situation of the Gulf region is at "a critical juncture between war and peace."

Shanghai Composite^SZSE

Asia52d ago

Sinomine Resource to Raise 5.2 Billion Yuan From Share Placement

Sinomine Resource Group (SHE:002738) plans to raise up to 5.2 billion yuan through a private share placement to fund projects in Africa, according to a Wednesday disclosure on the Shenzhen bourse.From the proceeds, the Chinese mining company will allot 1.60 billion yuan for a lithium sulfate mine in Zimbabwe that will produce 100,000 tons per year, while 1.70 billion yuan will be set aside for Zambia's Kitumba copper mine.The total investment for the Kitumba mine was revised upwards to $610.2 million from $562.9 million due to increased pre-production stripping costs.Meanwhile, 450 million yuan from the proceeds will be used for a cesium and rubidium mine in China's Jiangxi Province, which will produce 2,000 tons per year.The company's shares fell by less than 2% during the midday trade.

SHE:002738

Asia52d ago

Puravankara Appoints Technology Chief; Shares Down 4%

Puravankara (NSE:PURVA, BOM:532891) appointed Subrahmanya Gupta Boda as chief technology officer, effective from Tuesday, according to a same-day disclosure to the Indian stock exchanges.The real estate developer's shares were down over 4% in Wednesday's trade.

BOM:532891NSE:PURVA

Asia52d ago

Market Chatter: Xi-Putin Meeting to Increase Russian Energy Exports to China

The meeting between Chinese President Xi Jinping and Russian leader Vladimir Putin could substantially raise Russia's energy exports to China, the Financial Times reported Tuesday.The Kremlin expects both leaders to hold "serious" and "very detailed" discussions on the Power of Siberia 2 gas pipeline, a long-delayed project, the report said.Russia's Gazprom will build the pipeline, set to carry 50 billion cubic meters to China from Russian gas fields that once served Europe, Reuters and the Financial Times said.Moscow could push for the pipeline to offset its losses in Europe following its invasion of Ukraine, the FT said, citing analysts.(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.)

Shanghai Composite^SZSE

Asia52d ago

Orion Minerals Says Resource-Optimization Drill Hole Completed at South Africa Prospect Confirms 'Significant' Growth Potential

Orion Minerals (ASX:ORN) said results from the first resource-optimization drill hole completed at the Okiep copper project Flat Mine East prospect in South Africa confirmed "significant" growth potential, according to a Wednesday Australian bourse filing.The results validate earlier visual estimates and include an intercepts of 7.9 meters at 9.2% grade of copper from 311.3 meters, the company said.

ASX:ORN

Asia52d ago

Market Chatter: US Charges Shipping Container Giants Over Pandemic Supply Cuts

The U.S. Justice Department has charged seven Chinese executives and four major shipping container firms with conspiring to restrict supply and inflate container prices during the COVID-19 pandemic, Reuters reported Tuesday.Together, the companies produce about 95% of global standard dry containers, according to the report.Officials allege they colluded from November 2019 to January 2024, forcing American consumers to pay more and wait longer for goods, Reuters wrote.Singamas Container (HKG:0716) executive Vick Ma was arrested in France in April, 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.)

Shanghai Composite^SZSEHKG:0716

Asia52d ago

Market Chatter: Putin Could End Up 'Regretting' War with Ukraine, Xi Tells Trump

Chinese President Xi Jinping told his U.S. counterpart Donald Trump that Russian leader Vladimir Putin might end up regretting waging war against Ukraine, the Financial Times reported Tuesday, citing several people familiar with the U.S. assessment of the Trump-Xi meeting.Xi made the comment during his meeting with Trump last week that tackled the Ukraine situation, the sources reportedly said.Trump was also said to have suggested that the three leaders cooperate against the International Criminal Court, according to the news outlet.Xi's comments may have gone even way back, with one source familiar with Xi's meetings with former U.S. President Joe Biden saying that while the two leaders held frank conversations about Ukraine, Xi had not expressed his opinion of the war, the FT 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.)

Shanghai Composite^SZSE

Asia52d ago

Mahindra EPC Bags INR33 Million Micro Irrigation Contract

Mahindra EPC Irrigation (NSE:MAHEPC, BOM:523754) has secured an order worth 33.0 million Indian rupees from the Water Resource Division, India, according to a Wednesday filing to the Indian stock exchanges.The contract is for the supply of micro pressurized irrigation systems for 80 hectares of land.The project is expected to be completed in 11 months.

BOM:523754NSE:MAHEPC

International52d ago

Australia's Heavy Dependence on Refined Fuels Creates Some Risk of Rationing, ANZ Says

Australia's heavy reliance on refined fuels creates some risk of rationing being required if the supply of refined products narrows significantly, ANZ said in a Wednesday report.However, the bank added that fuel rationing is not part of its base case and it does not expect rationing to be needed.Australia imports over 90% of its diesel, petrol, and jet fuel, which the transport, mining, and agriculture industries are heavily dependent on. Around 12% of inputs for the transport sector come from petroleum products, followed by the mining industry at around 7% and agriculture at 6%, according to the report."The likely fuel demand inelasticity of these industries, the impact on GDP that a shortage of fuel might have and the limited availability of short-run substitutes suggest that the household sector would likely bear the brunt of any possible rationing," ANZ said.It noted that fuel rationing is not currently not part of the Reserve Bank of Australia's central expectations.

ASX 200

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