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Kehua Bio-Engineering Gets Registration Certificate for Nucleic Acid Kit

Shanghai Kehua Bio-Engineering (SHE:002022) received a medical device registration certificate from China's National Medical Products Administration, according to a Shenzhen bourse filing on Wednesday.The certificate, which is valid until May 10, 2031, is for the fully automated nucleic acid purification and amplification detection system.The Chinese in vitro diagnostics company's shares slipped 1% at the close.

SHE:002022

Asia54d ago

Hanwha Engine Secures KRW354.2 Billion Ship Engine Contract from Hanwha Ocean

Hanwha Engine (KRX:082740) secured a contract for a ship engine from Hanwha Ocean (KRX:042660), according to a Wednesday filing with the Korean Exchange.The contract, valued at 354.2 billion won, is valid until June 26, 2028.Shares of Hanwha Engine rose nearly 2% at market close.

KRX:042660KRX:082740

US Markets54d ago

Isuzu's Fiscal 2026 Profit Slides Due to Iran War Impact But Could Rebound in Fiscal 2027

Isuzu Motors (TYO:7202) recorded a lower profit in fiscal 2026 due to the effects of U.S. tariffs and higher material and foreign exchange costs.The Japanese automobile manufacturer's attributable profit slid 3.7% to 134.9 billion yen in fiscal 2026 from 140.1 billion yen in fiscal 2025, according to a Wednesday disclosure to the Tokyo Exchange.Diluted earnings per share jumped to 193.07 yen from 190.75 yen.Revenue jumped 7.5% to 3.479 trillion yen from 3.236 trillion yen a year earlier.The Japanese business' contribution jumped 8.6% year over year to 1.385 trillion yen, while that of the rest of the world grew 6.8% to 2.094 trillion yen.Revenue in its automobile segment increased 7.5% to 3.435 trillion yen, while segment profit slid 12% to 189.9 billion yen due to a rise in various expenses.The financial business segment jumped 14% to 210.8 billion yen, while sgement profit slid 4% to 13.9 billion yen, still due to higher various expenses.Vehicle sales jumped 8.1% year over year to 565,858 units, with Japanese vehicle sales rising 5.5% year over year to 81,741 units.Light commercial vehicle sales jumped 11% to 254,219, helped by higher sales in Thailand.Operating profit slid 11% year over year to 203.7 billion yen from 229.5 billion yen.Isuzu attributed the fall to the impact of U.S. tariffs, foreign exchange effects, higher material costs and growth-related expenditures, and suspension of shipments due to the war in the Middle EastFor fiscal 2027, Isuzu forecasts attributable profit to increase 19% to 160 billion yen and earnings per share at 232.82 yen. The company expects revenue to grow 6.4% to 3.700 trillion yen.The company expects operating profit to rise 13% to 260 billion yen following a negative impact of 40 billion yen from the situation in the Middle East.Isuzu expects commercial vehicle sales in its Japan market to reach 100,000 units, while light commercial vehicle sales in Thailand and other export markets to remain at the same level in fiscal 2026 due to the Middle East situation.

TYO:7202

Oil & Energy54d ago

JinkoSolar to Supply 2 GW of Solar Modules to Masdar for Abu Dhabi Renewables Project

Solar equipment supplier JinkoSolar will supply two gigawatts of photovoltaic solar modules to Masdar, as per a recent supply agreement reached between the companies for a major renewables project in Abu Dhabi, UAE, JinkoSolar said on Tuesday.JinkoSolar will supply its Tiger Neo series modules for use in what it says will be the world's first gigascale round-the-clock renewable energy project in Abu Dhabi, known as RTC.The project will be developed by Masdar and the Emirates Water and Electricity Company and will feature 5.2 GW of solar photovoltaic generation with a 19 GWh battery energy storage system that will be the largest and most advanced in the world, Jingko's statement said.

US Markets54d ago

Allianz Keeps 2026 Outlook as Property-casualty, Asset Management Power Record Quarterly Profit

Allianz (ALV.F) said Wednesday it is on course to reach its 2026 operating profit target after strong progress in the group's property-casualty and asset management divisions led to a record first-quarter operating result.In what Chief Financial Officer Claire-Marie Coste-Lepoutre described as a "demanding" operating environment, operating profit for the three months ended March 31 jumped 6.6% year over year to a record 4.52 billion euros, beating the mean company-compiled consensus estimate by 4%.Meanwhile, net income attributable to shareholders of the German insurer and asset manager zoomed up to 3.69 billion euros from 2.42 billion euros, 1% ahead of expectations. EPS moved to 9.56 euros from 6.27 euros.At the same time, total business volume declined to 53 billion euros from 54 billion euros. Excluding the effects of foreign-currency translation as well as acquisitions and divestments, internal growth in total business volume was 3.5%, led by the property-casualty segment.Across the group, the property-casualty insurance division recorded the highest-ever quarterly operating profit at 2.41 billion euros, thanks to a higher insurance service result. Operating profit from asset management climbed 5.8% to 857 million euros, with record first-quarter net inflows of 45.2 billion euros.Life/health insurance operating profit dropped 5.1% to 1.35 billion euros amid a volatile environment. Adjusted for foreign currency translation effects as well as the sale of the stakes in Allianz's Indian joint ventures and in UniCredit Allianz Vita, the segment operating profit edged up 3%.With first-quarter operating profit at 26% of the full-year outlook midpoint, Allianz confirmed its guidance for 2026 operating profit in the range of 16.4 billion euros to 18.4 billion euros.The stock gained more than 1% in early morning trade.

$ALV.F

Asia54d ago

Classys' Net Income Jumps 13% in Q1

Classys (KOSDAQ:214150) posted first-quarter net income attributable to shareholders of 33.6 billion won, up 13% from 29.8 billion won a year earlier, according to a Wednesday filing with the Korea Exchange.The South Korean medical device company's sales rose 13% year over year to 87.2 billion won from 77.1 billion won.Shares of Classys fell nearly 7% at market close.

KOSDAQ:214150

Asia54d ago

Shenwan Hongyuan Redeems 3.6 Billion Yuan in 273-Day Bonds

Shenwan Hongyuan Group (SHE:000166, HKG:6806) fully redeemed short-term bonds worth 3.60 billion yuan, according to a Shenzhen bourse filing on Wednesday.The bonds, which were issued in 2025, had a coupon rate of 1.69% and a term of 273 days. They matured on May 11.

HKG:6806SHE:000166

Asia54d ago

Race Eco Chain CFO Resigns; Shares Slip 3%

Race Eco Chain (NSE:RACE, BOM:537785) said chief financial officer and key managerial personnel Piyanshu Sharma has resigned, effective May 12, citing personal reasons, according to a same-day filing on Indian bourses.Shares of the company fell nearly 3% in Wednesday's trade.The company said it is in the process of appointing a new CFO.

BOM:537785NSE:RACE

Oil & Energy54d ago

EMEA Oil Update: Futures Retreat After Three Days of Gain

Oil futures retreated on Wednesday, snapping a three-session winning streak as traders took profits following a sharp geopolitical rally.The Brent futures contract dropped about 1.3% to $106.34 per barrel. Murban futures closed at $106 on May 12 and was not trading as of the time of publishing this oil price update.The slight price correction comes despite a deteriorating diplomatic landscape.Strategists noted that markets are still digesting President Trump's recent rejection of Tehran's counteroffer and his warning that a regional ceasefire is on "massive life support."The breakdown in negotiations is largely attributed to Iran's refusal to cede control over its nuclear program and its insistence on maintaining authority over traffic through the Strait of Hormuz."The breakdown in negotiations suggests an extended disruption to oil supplies from the Persian Gulf is likely," ANZ analysts said.On the ground, the impact of the US naval blockade is becoming starkly visible.Satellite imagery obtained by Bloomberg suggests that shipments from Iran's primary export terminals have reached a virtual standstill over the last several days, a significant shift for a nation that had managed to maintain exports of roughly 1.8 million barrels per day despite the war.This supply chokehold is rapidly depleting the global inventory buffer.ANZ said that global crude stocks fell by nearly 200 million barrels in April alone at a daily rate of 6.6 mb/d.Adding to the bullish fundamental backdrop, the American Petroleum Institute reported late Tuesday that US crude inventories decreased by 2.19 million barrels for the week ended May 8."If Hormuz remains shut, the second quarter of 2026 will see the largest quarterly crude inventory drawdown in history at 6.5mb/d," ANZ noted.The oil market now awaits the US Energy Information Administration's petroleum inventory report, scheduled for release on Wednesday.

Asia54d ago

International Housewares Retail Grants 1.7 Million Shares as Incentive

International Housewares Retail (HKG:1373 granted nearly 1.7 million awarded shares to certain grantees at nil consideration, according to a Tuesday Hong Kong bourse filing.The houseware retailer's shares were up over 1% in Wednesday afternoon trading.Of the total shares, which represent 0.2% of the firm's issued share capital, 80,000 were granted to executive Director Cheng Sing Yuk and the remaining to certain other employees, subject to acceptance.The company now has a little over 15.9 million shares available for future grant under the scheme.

HKG:1373

Asia54d ago

Market Chatter: OECD Sees BOJ Policy Rate Reaching 2% by 2027

The Organisation for Economic Co-operation and Development (OECD) expects the Bank of Japan's policy rate to reach 2% by the end of 2027, a more hawkish outlook than forecasts from many economists and global institutions, Bloomberg reported Wednesday.In its economic survey released Wednesday, the OECD said Japan's current policy rate remains near the lower end of the neutral range, assuming inflation stays around the BOJ's 2% target. It said the central bank should continue raising rates gradually as domestic demand remains firm, according to the report.OECD Secretary-General Mathias Cormann said the pace of normalization could accelerate as Japan's economic equilibrium becomes clearer, while stressing the BOJ is not yet materially behind the curve on inflation, the report said.The 2% projection is above estimates from the International Monetary Fund and market economists, many of whom expect the tightening cycle to peak near 1.5%. OECD officials attributed the difference to a more optimistic view of Japan's growth potential, according to the report.The report also urged Japan to strengthen fiscal buffers through gradual consumption tax increases and called for broader labor participation, including from women, older workers and foreign employees, to address worsening labor shortages, 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

Asia54d ago

Japan Shares Rise on BOJ Rate Hike Expectations

Japanese shares ended higher on Wednesday after the OECD projected the Bank of Japan's (BOJ) policy rate could rise to 2% by the end of 2027, reinforcing expectations of a sustained monetary-tightening cycle.The Nikkei 225 rose 0.8%, or 529.54 points, to close at 63,272.11.The OECD said the Japanese central bank's policy rate remains near the low end of the economy's neutral range and urged gradual rate hikes as inflation stays around 2% and demand continues to outpace supply.OECD Secretary-General Mathias Cormann said the pace of policy normalization could accelerate as Japan's economic equilibrium becomes clearer, though he said the BOJ was not yet "behind the curve."The OECD projected the BOJ's policy rate could reach 2% by end-2027 as the central bank continues unwinding monetary easing toward a neutral rate estimated at 1.1% to 2.5%.In economic news, Japan's current account surplus widened 29.1% year over year to 4.682 trillion yen in March, driven by higher primary income and a wider goods surplus.Japan's bank lending growth accelerated to 5.4% year over year in April, led by solid loan expansion at major banks and continued strength at regional lenders.On the corporate front, Bandai Namco (TYO:7832) rose 5% after reporting stronger fiscal 2026 profit and sales growth, driven by robust demand for its Gundam franchise and Toys and Hobby business.Tsugami (TYO:6101) climbed 7% after its China segment profit jumped 39% year over year on stronger revenue growth. Meanwhile, GNI Group (TYO:2160) advanced 9% after its liver fibrosis drug F351 was accepted for regulatory review in China with priority review status.

Nikkei 225TYO:2160TYO:6101TYO:7832

Asia54d ago

E-Mart's Net Attributable Income Declines Nearly 16% in Q1

E-Mart (KRX:139480) posted first-quarter net income attributable to shareholders of 59.8 billion won, down nearly 16% from 70.8 billion won a year earlier, according to a Wednesday filing with the Korea Exchange.The South Korean retailer's sales fell 1.3% year over year to 7.123 trillion won from 7.219 trillion won.Shares of E-Mart fell more than 1% at market close.

KRX:139480

Asia54d ago

Market Chatter: Toshida Indonesia CEO Arrested in Nickel Mining Bribery Probe

Indonesian prosecutors arrested Toshida Indonesia's CEO Laode Sinarwan Oda over bribery allegations in connection with a nickel mining governance corruption case in Southeast Sulawesi, The Jakarta Post reported Tuesday.Laode's arrest came over allegations of bribes to Indonesian Ombudsman chairman Hery Susanto, who was also reportedly arrested in April.Laode failed to appear when he was summoned, which led to the arrest, The Jakarta Post reported, citing Attorney General's Office spokesperson Anang Supriatna.Prosecutors allege the firm attempted to challenge or alter a policy governing the payment of fees to be made to the Forestry Ministry for mining land concessions through the Ombudsman, 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.)

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Asia54d ago

Fitch Revises Outlook on SinoPac Financial Holdings, Subsidiaries to Positive

Fitch Ratings has changed the outlook on the long-term issuer default ratings of SinoPac Financial Holdings (TPE:2890) and subsidiaries Bank SinoPac, King's Town Bank, and Bank SinoPac (China) to positive from stable, according to a Monday release.Fitch also maintained all of the companies' long-term issuer default ratings at BBB+.Bank SinoPac's positive outlook considers Fitch's view that its merger with King's Town Bank could boost its credit profile through a wider franchise, improved business revenue, and increased profitability.King's Town Bank accounted for 11% of the combined bank's assets on a pro forma basis at end-2025, Fitch said.SinoPac Holdings' ratings and outlook are similar to those on the bank, which serves as the group's principal subsidiary.The parent company should retain a moderate common equity double-leverage ratio over the medium term, even with a temporary spike last year after the acquisition, Fitch said.Developments in the bank's franchise status, profitability, and impaired loan ratio following the merger as well could prompt rating actions, according to Fitch.

TPE:2890

Asia54d ago

Texmaco Rail Wins International Order Worth $431 Million; Shares Jump 14%

Texmaco Rail & Engineering (NSE:TEXRAIL, BOM:533326) received a letter of award worth about $430.6 million from Tsiko Africa Logistics and Barberry Holdings, according to an Indian bourse filing on Tuesday.Shares of the company jumped nearly 14% in Wednesday's trade.The order is for supply of freight wagons, locomotives and components, the filing said. It also includes long-term maintenance of the rolling stock, the filing said.The contract will be executed by 2027-2028, it added.

BOM:533326NSE:TEXRAIL

International54d ago

French Annual Inflation Rises to 2.2% in April, Final Data Confirms

As expected, France's annual inflation rate climbed to 2.2% in April, from 1.7% in March, final data from statistics agency Insee showed Wednesday.On a monthly basis, consumer prices were 1% higher, in line with the flash estimate and the prior month.The annual harmonized inflation rate stood at 2.5%, matching the initial reading and against the previous 2%. Month over month, harmonized consumer prices rose 1.2%, confirming the preliminary data, compared with the previous 1.1% increase.

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Asia54d ago

Korea Gas' Net Income Jumps 49% in Q1

Korea Gas (KRX:036460) posted first-quarter net income attributable to shareholders of 548.6 billion won, up 49% from 367.5 billion won a year earlier, according to a Wednesday filing with the Korea Exchange.The South Korean state-owned natural gas company's sales fell 7.3% year over year to 11.8 trillion won from 12.7 trillion won.Shares of Korea Gas rose nearly 2% at market close.

KRX:036460

US Markets54d ago

Tencent Music's Q1 Revenue Advances as Profit Hit by Lapse of Prior-Year Gain

Tencent Music Entertainment (HKG:1698) posted higher first-quarter revenue as growth in its music subscription and live entertainment businesses helped offset the absence of a large one-off gain from a year earlier.The online music entertainment platform said attributable profit fell to 2.09 billion yuan from 4.29 billion yuan a year earlier after the year-ago quarter included a 2.37 billion yuan gain related to the deemed disposal of an associate.Earnings per share declined to 0.67 yuan from 1.39 yuan in the corresponding period last year.Revenue rose 7.3% to 7.90 billion yuan from 7.36 billion yuan, driven by continued growth in music-related services, according to a Tuesday filing with the Hong Kong bourse.In breakdown, revenue from music-related services climbed 12% to 6.51 billion yuan, supported by higher membership, advertising, and offline performance-related revenue.Membership services revenue increased 6.6% to 4.57 billion yuan as Tencent Music expanded privileges under its SVIP (Super VIP) program and introduced new offerings, including fan-club memberships, bubble, and WeverseDM services.Tencent Music's Chief Executive, Ross Liang, said the company continued to strengthen user engagement and subscription growth through its "content-and-platform dual engine" strategy."During the quarter, we delivered continued improvement in SVIP adoption and user engagement," Liang said, adding that Tencent Music is expanding user reach through Tencent's ecosystem while advancing a tiered subscription strategy to support long-term monetization growth.Tencent Music said live performance-related revenue posted triple-digit year-over-year growth, driven by concerts featuring leading K-pop groups and the expansion of performances across domestic and overseas markets.The platform also said high-profile releases from its proprietary music catalog, including Zhou Shen's theme song for Project Hail Mary, helped boost streaming engagement.Tencent Music said artificial intelligence tools are increasingly being used to improve music production efficiency and expand content creation, with AI-generated songs accounting for a growing share of daily new releases.However, Tencent Music's Executive Chairman, Cussion Pang, said the rise of artificial intelligence in music creation is increasing the importance of premium intellectual property and original content."While AI is broadening participation in content creation, it does not replace human creativity and, in many ways, reinforces the scarcity and intrinsic value of premium IP," Pang said, adding that the platform remains focused on strengthening copyright protection.Separately, Tencent Music announced on Tuesday that it secured conditional antitrust approval from China's market regulator for its proposed $2.4 billion acquisition of online audio platform Ximalaya.The deal is expected to strengthen Tencent Music's presence in audiobooks, podcasts, and other digital audio services, subject to conditions on free content access and exclusive copyright arrangements.

HKG:1698

Asia54d ago

Torrent Power Gets Board Nod to Raise Up to INR100 Billion Through Debt Issue; Shares Sink 7%

Torrent Power (NSE:TORNTPOWER, BOM:532779) received board approval to raise up to 100 billion Indian rupees through the issue of non-convertible debentures, according to a Tuesday filing to the Indian stock exchanges.The debentures will be issued in one or more tranches on a private placement basis.The company's shares were down nearly 7% in recent trade.

BOM:532779NSE:TORNTPOWER

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US Markets54d ago

Tencent Music's Q1 Revenue Advances as Profit Hit by Lapse of Prior-Year Gain

HKG:1698