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ASX Midday Sector Update: Information Technology Stocks Rise Marginally, Materials Struggle

Information technology stocks advanced nearly 1% at midday Wednesday.Xero (ASX:XRO) shares rose marginally in recent trade after disclosing a multi‑year deal with New Zealand Rugby, becoming its official small business accounting platform partner.Meanwhile, the materials sector struggled, shedding more than 2%.BHP Group (ASX:BHP) shares were down nearly 2% in recent trade.

ASX 200ASX:BHPASX:XRO

Asia52d ago

Pinggao Electric to Set Up GIS Smart Factory for 1.4 Billion Yuan; Shares Down 3%

Henan Pinggao Electric (SHA:600312) disclosed plans to build a GIS smart factory for 1.40 billion yuan, according to a Wednesday disclosure on the Shanghai bourse.The factory will manufacture GIS, or gas-insulated switchgears, with a capacity of between 126 kilovolts and 550 kilovolts.The factory in Pingdingshan, Henan Province, China will be built within 30 months, starting in October.Shares of the Chinese electric switchgear manufacturer dropped nearly 3% during the morning trade.

SHA:600312

Asia52d ago

Minieye Technology Signs 200 Driverless Logistics Vehicles Deal With Jiangsu Firm

Minieye Technology (HKG:2431) signed a long-term cooperation and procurement agreement for 200 driverless logistics vehicles with Jiangsu Province Danyang High-tech Zone Industrial Development, according to a Tuesday Hong Kong bourse filing.Shares of the intelligent driving software developer were down over 1% in Wednesday morning trade.The agreement covers the deployment of the company's second-generation map-free driverless logistics vehicles for urban distribution and last-mile delivery, including fresh produce, food, pharmaceutical, and supermarket logistics, the filing said.

HKG:2431

Asia52d ago

ImmuneOnco Doses First Patient in IMM0306 Drug Trial; Shares Fall 3%

ImmuneOnco Biopharmaceuticals (HKG:1541) said it dosed the first patient in the phase 2 trial of IMM0306 for the treatment of systemic lupus erythematosus, according to a Tuesday filing with the Hong Kong bourse.The firm's shares fell 3% in morning trade Wednesday.The company plans to enroll 90 patient in the trial, it said.

HKG:1541

Asia52d ago

Qingling Motors Signs Repurchase Deal for 50 New Energy Vehicles

Qingling Motors (HKG:1122) entered into a repurchase agreement with a car dealer covering 50 new energy vehicles, according to a Tuesday filing with the Hong Kong bourse.The firm's shares gained over 1% in morning trade Wednesday.The maximum aggregate repurchase price under the deal is estimated at 5.9 million yuan, to be funded with internal resources, the filing said.The arrangement is part of Qingling's shift toward a finance lease model to boost sales of its new energy commercial vehicles.

HKG:1122

Asia52d ago

Market Chatter: OCBC Outbid Rival Banks in HSBC Deal

Oversea-Chinese Banking Corp. or OCBC (SGX:O39) outbid several competitors by more than $100 million for its recent deal to acquire retail and wealth assets held in Indonesia by HSBC Holdings (HKG:0005), according to a report by Bloomberg on Wednesday.Citing people familiar with the matter, the report added that a higher offer allowed the bank to enter negotiations to conclude the deal for the Indonesian bank.The value of the deal is expected to be finalize once the deal completes in the first half of 2027, the report 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.)

HKG:0005SGX:O39

International52d ago

Market Chatter: Indian Airlines Seek Delay in Aviation Fuel Price Hike

Major Indian airlines have asked state-run oil refiners to halt jet fuel price increases for domestic flights until the Middle East conflict eases, Bloomberg News reported Wednesday, citing people familiar with the matter.The proposal was floated by domestic airlines, including Air India, IndiGo (NSE:INDIGO, BOM:539448), and SpiceJet (BOM:500285), the report said.They reportedly warned the government that raising fuel prices could lead to flight suspensions and broader business disruptions.State-owned refiners, including Indian Oil Corporation (NSE:IOC, BOM:530965), Hindustan Petroleum Corporation (NSE:HINDPETRO, BOM:500104), and Bharat Petroleum Corporation (NSE:BPCL, BOM:500547) are currently considering the proposal, according to the report.India's Ministry of Petroleum and Natural Gas has joined the discussions and may intervene directly, as it did in Aprl and May, the report added.Aviation fuel in India is deregulated and is fixed by the country's main oil marketing companies, which revise the prices each month.However, in April, to lessen the impact of the surge in global oil prices, the Indian government capped the most recent jet fuel price hike to 25% and asked the oil companies to keep them constant in May, Bloomberg added.A decision on the airlines' proposal is expected before June 1, 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.)

^BSENifty 50BOM:500104BOM:500285BOM:500547BOM:530965BOM:539448NSE:BPCLNSE:HINDPETRONSE:INDIGONSE:IOC

International52d ago

Market Chatter: Singapore Now Southeast Asia's Largest Stock Market

Singapore has overtaken Indonesia as Southeast Asia's largest stock market, with market capitalization jumping to $645 billion, according to a report by Bloomberg News on Wednesday.Meanwhile, Indonesia's market capitalization fell by over 30% from a peak in January to $618 billion, the report added.The Straits Times Index growth has been driven by government initiatives, with more funds flowing into the market, the report said.According to a portfolio manager at Lion Global Investors, Kenneth Ong, Singapore's market has taken advantage of geopolitical uncertainty and has become a safe haven for the financial sector, the report noted.During March, foreign deposits in the city-state's banks rose to SG$659 billion, according to data compiled by Bloomberg.(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.)

^STI

Asia52d ago

Napier Port Holdings Launches On-Market Share Buyback Program; Shares Up 3%

Napier Port Holdings (NZE:NPH) has approved an on-market share buyback program of up to 312,000 ordinary shares, representing around 0.5% of issued capital, according to a Wednesday filing with the New Zealand bourse.The share buyback will involve purchases on the New Zealand Exchange main board, starting on May 25 for up to 12 months, the filing added.The company's shares rose 3% in recent Wednesday trade.

NZE:NPH

Asia52d ago

Zhaojin Mining Industry Chairman Steps Down; Successor Named

Zhaojin Mining Industry (HKG:1818) said Jiang Guipeng stepped down as chairman of the company's board, according to a Tuesday filing with the Hong Kong bourse.The gold miner's shares fell over 4% in morning trad Wednesday.The firm appointed Wang Leyi to succeed Jiang as chairman.

HKG:1818

Asia52d ago

YTO Express Logs 5.5% Rise in April Express Deliveries Revenue

YTO Express (SHA:600233) logged revenue for express deliveries of 6.07 billion yuan in April, up 5.5% from the previous year.Delivery volume rose 1.2% year on year to 2.73 billion parcels, according to a Wednesday filing with the Shanghai bourse.The average revenue per parcel rose 4.2% to 2.23 yuan.Shares of the logistics company declined 2% in recent trade.

SHA:600233

Asia52d ago

Market Chatter: CJ Olive Young to Open First US Store With Sephora Partnership; CJ Corp Shares Decline 4%

CJ Corporation's (KRX:001040) beauty subsidiary CJ Olive Young will open its first U.S. store in Pasadena, California, on May 29 and plans four additional locations in the state, in partnership with LVMH-owned Sephora, Bloomberg reported Wednesday.The company will launch Olive Young-curated K-beauty sections featuring around 250 Korean brands across Sephora stores in 35 countries, beginning in August. Olive Young aims to raise the share of overseas revenue to 90% within a decade, up from the current 30%, the report said.Shares of CJ Corporation fell nearly 4% in recent trade.(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:001040

Asia52d ago

Daiwa Securities to Pick Up Stake in Ireland's Airborne Capital Under Expanded Alliance

Daiwa Securities Group (TYO:8601) is acquiring a 10% voting interest in Ireland-based aircraft lessor Airborne Capital by buying common shares from existing shareholders, subscribing for subordinated notes, and obtaining warrants that could allow it to increase its interest to 20%.The financial group will also nominate a director to Airborne's board as part of the expanded partnership, which builds on a business alliance first established in November 2024, according to a statement on Wednesday.The two companies launched a joint venture, Daiwa Airborne, in January 2025 to offer Japanese Operating Lease (JOL) products to ultra-high-net-worth clients, and jointly developed an open-ended aircraft fund for institutional investors.

TYO:8601

Asia52d ago

Suncorp Group Completes AU$200 Million Subordinated Notes Issuance

Suncorp Group (ASX:SUN) completed a AU$200 million issue of unsecured subordinated notes in an offering to institutional and wholesale investors, according to a Wednesday filing with the Australian bourse.The notes due 2037 were issued at a margin of 150 basis points over the three-month bank bill swap rate.The company said it plans to use the proceeds to fund Tier 2 capital for entities within the Suncorp Group, and for general funding purposes.Suncorp Group shares were down 1% in recent Wednesday trade.

ASX:SUN

Asia52d ago

Sembcorp Industries Unit to Deliver Phase 1 of UK Data Center

Sembcorp Industries' (SGX:U96) subsidiary, Sembcorp Energy UK, signed a joint development agreement to deliver the first phase of a new data center development at the Wilton International site in Teeside, UK, according to a company release late Tuesday.The development is in partnership with Digital Reef, a UK-based data center and digital infrastructure firm.The initial phase of the development will provide up to 280 megawatts of capacity and will help with high-performance computing, AI and machine learning outputs.Construction is expected to commence later this year, the release said.

SGX:U96

Asia52d ago

Hitachi, Anthropic Partner on Lumada 3.0, AI Training Programs

Hitachi (TYO:6501) has partnered with Anthropic to integrate Anthropic's Claude artificial intelligence models into its Lumada 3.0 framework, combining Hitachi's information technology, operational technology, and product systems.The collaboration focuses on deploying AI systems in sectors including energy, transport, manufacturing, and finance to support operational resilience and cybersecurity, according to a joint statement on Tuesday.Under the agreement, Hitachi will roll out the AI systems across its global operations for approximately 290,000 employees. The two companies will also launch training initiatives aimed at developing 100,000 AI professionals within Hitachi.Hitachi will establish a "Frontier AI Deployment Center" across North America, Europe, and Asia. The center will open with an initial staff of 100 experts from both companies, with plans to expand the workforce to 300.Hitachi's shares fell 2% recently.

TYO:6501

International52d ago

New Zealand Housing Market Continues Losing Momentum in April, Cotality Says

New Zealand's housing market continued losing momentum in April, with sales volumes down 9% year on year and activity across the first four months of the year around 5% below the same period last year, Cotality NZ said in a report on Wednesday.Buyers remain cautious due to uncertainty regarding the economic outlook, inflationary effects from the Middle East conflict, and the risk of higher mortgage rates, Cotality NZ Chief Property Economist Kelvin Davidson said.Additionally, national property values remained flat, with the Cotality Home Value Index recording a 0.1% increase for the month and a 0.6% lift across the three months to April, but values nationally remained 0.8% lower over the past year and nearly 17% below peak levels.First home buyers continued to account for an elevated share of purchases, making up 28% of activity in April nationally and more than 30% in Auckland.

^NZ50

Asia52d ago

XXF Raises HK$126 Million via Share Placement, Top-Up Subscription

XXF (HKG:2473) completed the placing of 154.7 million shares and a top-up subscription to raise net proceeds of about HK$126 million, according to a Tuesday Hong Kong bourse filing.Shares of the automobile finance lease firm were up over 1% in Wednesday morning trade.The shares were placed to not fewer than six investors at HK$0.82 apiece.The company said the proceeds will be used to procure vehicles for its automobile retail and finance business, including new energy vehicle models, as well as support its outright car sales business and overseas expansion.

HKG:2473

Asia52d ago

China State Construction Engineering Sees Flat January-April Newly Signed Contracts

China State Construction Engineering (SHA:601668) 1.521 trillion yuan in total value of newly signed contracts for the first four months of the year, unchanged from the previous year.Contracted sales rose 4.0% to 99.4 billion yuan, while contracted sales area fell 20% to 2.7 million square meters, according to a Tuesday filing with the Shanghai bourse.Shares of the engineering company declined 1% in recent trade.

SHA:601668

International52d ago

Total Wages, Salaries Paid in Australia Rises in March

Employers in Australia paid a total of AU$110.56 billion in wages and salaries for 15.5 million jobs in March, an increase of 1.4% from AU$109.07 billion in February, according to data from the Australian Bureau of Statistics on Wednesday.Wages and salaries paid rose across all states and territories from February to March, with Western Australia experiencing the biggest increase, driven by cyclical bonus payments in the mining industry.Wages and salaries paid by employers increased in 15 of the 19 industries from February to March, with mining experiencing the largest rise.Total wages and salaries paid in March rose 6% from AU$104.31 billion paid in March 2025.

ASX 200

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