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NZX Midday Sector Update: Finance Advances, Electronic Technology Declines

Finance shares gained the most on New Zealand's Exchange, rising 1.9% by midday Thursday.Westpac Banking (NZE:WBC, ASX:WBC) gained past 2% in recent trade.Meanwhile, the electronic technology sector fell 1.7%.ikeGPS Group (NZE:IKE, ASX:IKE) shares fell about 2% in recent trade.

^NZ50ASX:IKEASX:WBCNZE:IKENZE:WBC

Asia5d ago

Tian Chang Expects Up to 289% Wider Pre-tax Loss in H1

Tian Chang (HKG:2182) expects to post a pretax loss of HK$30 million to HK$35 million for the first half, widening 233% to 289% from a pretax loss of HK$9 million a year earlier, according to a Wednesday Hong Kong bourse filing.The company expects first-half revenue to range between HK$170 million and HK$175 million, down about 33% to 31% from HK$254.2 million a year earlier.Tian Chang attributed the wider loss to weaker customer demand that reduced order volumes and revenue, as well as lower gross profit margin due to declining production volumes.

HKG:2182

Asia5d ago

China Shares Open Higher on Domestic Policy Support

Chinese shares opened higher on Thursday as investors looked past Middle East tensions and focused on expectations of stronger domestic policy support.The Shanghai Composite Index, the main gauge of Chinese stocks, opened 1.06 points higher to 3,868.09. The Shenzhen Component Index rose 0.4% to 14,116.02.Investors were encouraged by recent commitments to stabilize capital markets.A slew of central state-owned enterprises have recently unveiled share repurchase plans or major shareholder stake increases, signaling strong confidence in their valuations and the broader market. China's securities regulator will soon hold symposiums with securities firms, fund managers and listed companies to gather input for future policymaking.

Shanghai Composite^SZSE

Asia5d ago

Acrow Completes Share Purchase Plan

Acrow (ASX:ACF) completed its share purchase plan, raising AU$16 million and fully underwritten to AU$10 million by Morgans and Shaw and Partners, according to a Thursday filing with the Australian bourse.The company received valid applications of roughly AU$21 million, representing a participation rate of about 21%, with the board exercising its discretion to accept AU$6 million above the underwritten amount, the filing said.About 18.8 million new shares will be issued to eligible shareholders at an issue price of AU$0.85 apiece, per the filing.

ASX:ACF

Asia5d ago

OFX Group Enters Transaction Process Deed Regarding Proposed Acquisition by UK Payments Company Owner; Shares Surge 71%

OFX Group (ASX:OFX) entered into a transaction process deed regarding an all-cash acquisition of OFX by Alakazam Holdings Bidco, the direct owner of UK-based international payments company Equals Group, providing an agreed pathway to executing a scheme implementation deed, subject to Alakazam finalizing confirmatory due diligence and entering into debt financing arrangements, according to a Thursday Australian bourse filing.OFX granted Alakazam four weeks of exclusivity to finalize these matters and the scheme implementation deed, the filing said. If such a deed is entered into, OFX shareholders will receive AU$1 in cash for every OFX share held on the record date for the scheme. The consideration may be subject to an adjustment of up to AU$0.04 per share, based on OFX's available cash balance.OFX's board determined that the proposed transaction is in the best interests of shareholders and its directors plan to recommend that the shareholders vote in favor of the deal, per the filing.The company's shares shot up nearly 71% in recent trading on Thursday.

ASX:OFX

Treasury5d ago

Market Chatter: Japanese Firms' H1 Euroyen Convertible Bond Issuance in H1 2026 Hits Highest Since 2004

Japanese companies issued $6.8 billion in euroyen convertible bonds in the first six months of 2026, marking the highest level since $11 billion was recorded in 2004, as investors sought low-risk investments, Nikkei Asia reported Wednesday, citing U.K. data provider LSEG.Investment in convertible bonds is aimed at providing asset protection during downturns while maintaining exposure to stocks, the report said said.Rising share prices and borrowing costs have revived demand for convertible bonds, as they allow companies to raise funds more cheaply in a higher interest rate environment, 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

Asia5d ago

Sun Silver to Acquire Nevada Project From Bayan Mining and Minerals; Shares Up 3%

Sun Silver (ASX:SS1) executed a binding agreement to acquire the Bayan Springs North project in Nevada from Bayan Mining and Minerals (ASX:BMM), according to a Thursday filing with the Australian bourse.The project comprises 116 lode claims covering around 9.7 square kilometers on land administered by the US Bureau of Land Management. The transaction is expected to be completed by Aug. 31Sun Silver will pay Bayan AU$150,000 on the completion date and a further AU$150,000 upon 12 months after completion, both in cash. It will grant Bayan a 1% net smelter return royalty over the acquired claims.It will also make a contingent payment of AU$500,000, payable in cash or the equivalent number of Sun Silver shares at Sun Silver's election upon the announcement within five years of completion of a drill intersection of at least 20 meters grading 100 grams per tonne of silver-equivalent or greater.Sun Silver also staked an additional 106 lode mining claims covering around 8.86 square kilometers north-west of the Maverick silver project, also in Nevada, per the filing.Sun Silver's shares rose about 3% in recent trading on Thursday.

ASX:BMMASX:SS1

Asia5d ago

Astral Resources Says Infill Drilling at Western Australia Deposit Validates Geological Model

Astral Resources (ASX:AAR) said the ongoing infill reverse circulation drilling program continues to validate the geological model at the Theia deposit, part of the Mandilla gold project in Western Australia, and supports the conversion of the stage one open pit inventory to the higher-confidence-level measured mineral resource category, according to a Thursday Australian bourse filing.It encountered intercepts of one meter at 11.1 grams-per-tonne grade of gold from 20 meters, three meters at 4.72 g/t grade of gold from 61 meters, and 31 meters at 3.03 g/t grade of gold from 12 meters.A total of 151 holes for 15,131 meters have been completed, and drilling is expected to continue through the remainder of the year.Its shares rose 2% in recent trading on Thursday.

ASX:AAR

Asia5d ago

Hong Kong Stocks Gain at Open as Investors Weigh Earnings, Oil Prices

Hong Kong stocks opened higher on Thursday as investors balanced upbeat U.S. earnings against persistent geopolitical risks.The Hang Seng Index rose 0.3%, or 73.87 points, to 24,966.53, while the Hang Seng China Enterprises Index gained 0.2%, or 15.54 points, to 8,266.61.Wall Street ended mixed overnight as investors weighed Alphabet's quarterly results against concerns over higher capital spending on artificial intelligence.The Google parent posted record cloud revenue growth, but its increased investment plans kept the focus on the returns from AI spending.Brent crude remained near a six-week high after fresh U.S. and Iranian strikes heightened concerns over disruptions to energy shipments in the Middle East.

Hang Seng

Asia5d ago

Metal Powder Works Appoints COO

Metal Powder Works (ASX:MPW) appointed Ahmed El Desouky as chief operating officer, according to a Thursday Australian bourse filing.El Desouky most recently served as director of operations for new product introduction at Veeco Instruments, the filing added.The company's shares rose around 1% in recent Thursday trade.

ASX:MPW

International5d ago

Australia's Unemployment Rate Holds Steady at 4.4% in June

Australia's seasonally adjusted unemployment rate remained flat at 4.4% in June compared with the previous month, data from the Australian Bureau of Statistics showed Thursday.The consensus forecast was also for 4.4%, according to Trading Economics.The total number of employed people increased by 76,300, bringing the total to 14.8 million."In June, we recorded a 76,000 person rise in employment, driven by a 47,000 person rise in part-time employment," said Sean Crick, the bureau's head of labor statistics.The participation rate rose 0.3 percentage points to 67% compared with the previous month. The underemployment rate, which refers to the share of workers who want and are available to work additional hours, inched up to 6.5% in June from 6.3% in May.The employment-to-population ratio rose 0.3 percentage points to 64%, the report said. Monthly hours worked across all jobs increased by 5 million hours to 2.01 billion hours in June.

ASX 200

Asia5d ago

Lotus Resources Raises AU$138.1 Million Strategic Funding Package to Support Kayelekera Ramp-Up

Lotus Resources (ASX:LOT) disclosed a strategic funding package to de-risk Kayelekera's continued ramp-up and provide financial flexibility as it transitions to steady-state production, according to a Thursday Australian bourse filing.The company said the package comprises a fully underwritten AU$60.1 million accelerated non-renounceable entitlement offer, a binding agreement for AU$35 million in senior unsecured convertible notes from CVI Investments, managed by Heights Capital Management, and a binding commitment letter with Mercuria Energy Trading for a AU$43 million inventory-backed prepayment facility and marketing agreement.

ASX:LOT

Asia5d ago

Generation Development Group Posts 36% Growth in June Quarter Funds Under Management; Shares Up 33%

Generation Development Group (ASX:GDG) recorded funds under management (FUM) of AU$46.4 billion at the end of the June quarter, up 36% year on year, according to a Thursday Australian bourse filing.Evidentia's FUM climbed 37% year on year to AU$40.5 billion at June 30, while Generation Life's FUM rose 35% to AU$5.95 billion over the same period.Evidentia reported quarterly net inflows of AU$3.5 billion, including the AU$1.8 billion transition of the Xplore Wealth portfolio and an additional AU$280 million mandate, while Generation Life recorded quarterly sales inflows of AU$442 million, up 39% year on year.Lonsec Research and Ratings expanded its product coverage to more than 2,000 researched products, up 9% year on year, while iRate subscribers increased 13% year on year to 5,629.The company's shares jumped around 33% in recent Thursday trade.

ASX:GDG

Asia5d ago

Guoyi Files for Shanghai IPO

Guoyi (SHA:688828) filed for an initial public offering on the Shanghai Stock Exchange, according to a prospectus published Thursday.The quantum instrument maker plans to issue up to 40.0 million shares, representing 10% of its enlarged share capital post-IPO.Huatai United Securities serves as lead underwriter.Preliminary inquiry will be on July 28, with online and offline subscriptions to follow on July 31.

SHA:688828

Asia5d ago

United Spirits Acquires 10% Stake in Nuvola Spirits

United Spirits (BOM:532432, NSE:MCDOWELL-N) will invest 26.9 million rupees in Nuvola Spirits for a 10.08% stake on a fully diluted basis, according to a Wednesday exchange filing.The company will subscribe to 17,350 compulsorily convertible preference shares and 10 equity shares in Nuvola Spirits, which owns the craft liqueur brands Mikiamo and Seoulmate.The transaction is expected to be completed by Sept. 21.United Spirits said the investment aligns with its strategy of backing innovative founders and tapping emerging consumer trends in the premium craft beverage segment.The agreement also gives the company an option to acquire the remaining stake in Nuvola Spirits if certain pre-agreed milestones are met.

BOM:532432NSE:MCDOWELL-N

Asia5d ago

Dimerix Secures US Patent Regarding Kidney Injury Drug Candidate, Shares Jump 4%

Dimerix (ASX:DXB) said the United States Patent and Trademark Office granted a patent providing composition-of-matter-type claims covering the firm's drug candidate, DMX-652, until April 11, 2043, according to a Thursday Australian bourse filing.The candidate is a selective inhibitor of USP30, a mitochondrial enzyme, designed to prevent kidney injury and promote mitophagy where damage has occurred. A divisional application has also been filed to pursue additional claims covering DMX-652, the filing added.Its shares rose 4% in recent trading on Thursday.

ASX:DXB

Asia5d ago

Macquarie Group Faces Climate-Focused Shareholder Resolution at Annual General Meeting

Macquarie Group (ASX:MQG) faces a shareholder resolution at an annual general meeting on Thursday asking it to explain how its financing of new oil and gas projects aligns with global climate goals, environmental not-for-profit organization Market Forces said in a same-day statement.Market Forces said some of Macquarie's major international investors, including the California Public Employees' Retirement System and the New York City Pensions fund, have voted in favor of the resolution, which now has backing from more than 160 shareholders.The company has "abandoned its pledge to the global goal of net zero by 2050 and is supersizing its support for dangerous new fossil fuel projects," the environmental organization said.It added that Macquarie tripled its oil and gas financing over the past three years, including the bankrolling of Australia's biggest proposed fracking development in the Northern Territory's Beetaloo Basin, while the country's four largest banks cut lending for oil and gas extraction by almost AU$8 billion over the same period.Macquarie did not immediately respond to a request for comment from.

ASX:MQG

Asia5d ago

Japan Excellent to Repay 5 Billion Yen Loan Early Using Asset Sale Proceeds

Japan Excellent (TYO:8987) has decided to make an early repayment of 5 billion yen in borrowings on July 31, funded by proceeds from its transfer of Bizcore Akasaka-Mitsuke.The repayment covers two loans from Mizuho Bank, including a 2 billion yen facility originally due September 2026, and 3 billion yen of a 3.5 billion yen loan scheduled for February 2027.Both loans carry floating interest rates at TIBOR plus 0.200%, according to a Tokyo bourse filing on Wednesday.

TYO:8987

Asia5d ago

Nichirei Targets Full Operational Recovery This Week After Cyberattack

Nichirei (TYO:2871) is working to restore its warehouse operations and frozen-food shipments following a cyberattack, with full normalization expected within the week, according to a Tokyo bourse filing on Wednesday.The company said an external cybersecurity firm and relevant authorities are investigating the incident, but did not disclose further details.Nichirei said some servers containing personal information were affected and that it has notified the individuals concerned.

TYO:2871

Asia5d ago

EU Flags Foreign Subsidy Concerns in JD.com's Ceconomy Deal

The European Commission raised preliminary objections to JD.com's (NASDAQ:JD, HKG:9618) proposed $2.5 billion acquisition of German retailer Ceconomy, according to a Wednesday statement.The commission said JD.com may have benefited from Chinese government support, including preferential financing, tax incentives and grants, potentially giving the combined company an unfair competitive advantage after the acquisition.The objections are preliminary and do not prejudge the outcome of the investigation.A statement of grounds is a formal step in the investigation that outlines the Commission's preliminary concerns.The Commission's provisional deadline to complete its review is Oct. 2.

HKG:9618

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