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Sino Biopharmaceutical Enrolls First Patient in Cafelkibart Cancer Drug Trial

Sino Biopharmaceutical (HKG:1177) enrolled the first patient in the phase 3 clinical trial of cafelkibart to treat gastric cancer, the firm said in a Hong Kong bourse filing Thursday.The company will study the medicine's effectiveness in treating gastric cancer or gastroesophageal junction adenocarcinoma as a second-line treatment.Cafelkibart is also known as LM-108 and was developed by the company's LaNova Medicines unit.

HKG:1177

Asia55d ago

Midea to Raise HK$17 Billion Through Zero-Coupon Convertible Bonds

Midea (SHE:000333, HKG:0300) proposed to issue HK$8.62 billion of zero-coupon convertible bonds due 2027 and HK$8.62 billion of zero-coupon convertible bonds due 2033, according to a Thursday Hong Kong bourse filing.The 2027 bonds carry an initial conversion price of HK$96.82 per H- share, representing a 10.4% premium to Wednesday's closing price, while the 2033 bonds have an initial conversion price of HK$115.76 per H-share, a 32% premium.Assuming full conversion, the 2027 bonds would convert into about 89.1 million Hong Kong shares, while the 2033 bonds would convert into about 74.5 million shares.Net proceeds from the offerings are expected to total about HK$17.17 billion.The appliance manufacturer plans to use about 60% of the proceeds for international expansion and offshore liquidity enhancement, with the remainder for general corporate purposes.The bonds are expected to be issued on May 13 and listed on the Vienna MTF operated by the Vienna Stock Exchange.

HKG:0300SHE:000333

Asia55d ago

MGM China Issues $750 Million Senior Bonds Due 2033

MGM China (HKG:2282) agreed to issue $750 million of 6.250% senior unsecured notes due May 15, 2033, according to a Thursday Hong Kong bourse filing.The notes were priced at 100% of the principal amount and are expected to be issued on May 13.The casino operator expects net proceeds of about HK$5.80 billion, or $739.9 million, after deducting underwriting discounts and offering expenses.It plans to use the proceeds to repay part of the amounts outstanding under its revolving credit facility and for general corporate purposes.The notes will pay interest semi-annually at 6.250% and mature on May 15, 2033.

HKG:2282

Asia55d ago

Appen Shares Rise After Joining Forces With Artificial Intelligence Technology Company

Appen (ASX:APX) shares rose more than 1% in morning trade on Thursday following its collaboration with artificial intelligence technology company Hugging Face to bring private audio datasets to the Open ASR Leaderboard, an open benchmarking resource for automatic speech recognition models.The leaderboard ranks models based on word error rate, reflecting transcription accuracy, with lower scores indicating better performance, Appen said in a statement released Wednesday.

ASX:APX

Asia55d ago

Lufax Maintains NYSE Listing Compliance After Submitting 2024 Results

Lufax (HKG:6623) became compliant with the New York Stock Exchange's listing requirements after filing its annual report for 2024, the company said in a Hong Kong bourse filing Thursday.The financial firm experienced a delay in filing its 2024 financials after a change in auditors.Lufax said it filed the 2024 results on Feb. 17, 2026.

HKG:6623

Asia55d ago

Sunrise Energy Metals Co-Chair Retires; Shares Fall 3%

Sunrise Energy Metals (ASX:SRL) said Co-Chair Jiang Zhaobai has informed the board of his decision to retire, effective Wednesday, May 6, according to a Thursday Australian bourse filing.The company's shares fell 3% in recent Thursday trade.

ASX:SRL

Asia55d ago

Toridoll UK Unit Advances Restructuring After Creditor Vote

Toridoll (TYO:3397) said creditors approved a restructuring plan for UK subsidiary Franco Manca 2 UK under a company voluntary arrangement process, according to a Thursday filing on the Tokyo Stock Exchange.The restructuring plan cleared a creditors' meeting held on May 5 after meeting approval requirements under UK insolvency law.Franco Manca 2 UK, a subsidiary of The Fulham Shore, will continue restructuring operations under the approved plan while maintaining business operations.

TYO:3397

Asia55d ago

Toridoll UK Unit Sells Assets to Karali Group in Insolvency Process

Toridoll (TYO:3397) said its UK subsidiary, The Real Greek Food Company, executed an asset purchase agreement with Karali Group under insolvency proceedings, according to a Thursday filing on the Tokyo Stock Exchange.The Real Greek Food Company entered into Administration proceedings last week as part of a restructuring process at The Fulham Shore, a consolidated Toridoll subsidiary.Karali Group, which operates restaurant and hospitality businesses mainly in the UK, will acquire the business and related assets. Toridoll said the transaction will support business continuity and employee succession. Toridoll expects The Real Greek Food Company to exit its consolidation scope after the asset transfer.

TYO:3397

Asia55d ago

South Korean Shares Open at New High as Investors Remain Hopeful About US-Iran Peace Agreement

South Korean shares opened at a new high on Thursday, extending the 6.5% jump on Wednesday, as investors remained hopeful about the possibility of a peace agreement between the US and Iran.The benchmark Korea Composite Stock Price Index, or Kospi, rose by 114.51 points, or 1.6%, to open at 7,499.07. The Kosdaq gained marginally to open at 1,210.83.After opening at a new high, Kospi rose sharply to a new all-time intraday high at 9.03 am, reaching 7,523.84 points.Iran is expected to deliver its response later today to mediators regarding the US proposal to end the Middle East war, CNN reported, citing a regional source.Earlier, US President Donald Trump said Washington had held "very good talks" with Iran over the past 24 hours, indicating optimism over potential progress in negotiations.

^KOSDAQKOSPI

Asia55d ago

Market Chatter: Tosoh Targets 2029 Production of Plastic Optical Cables for AI Data Centers

Tosoh (TYO:4042) plans to begin mass production of plastic optical cables as early as 2029, targeting rising demand for high-speed data center components driven by generative AI, Nikkei reported Thursday.The fluoropolymer-based cables, developed with Keio University, can transmit data at roughly double the speed of conventional glass optical fibers while lowering error rates and power consumption, according to the report.Since the cables are made from plastic rather than glass, they can also be produced at lower cost and in larger volumes. Tosoh is working on manufacturing methods to preserve the cables' graded internal structure, which supports transmission performance, the report said.The technology is designed for short-range connections between servers inside data centers, where growing AI workloads are increasing data traffic and demand for faster transmission, 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.)

TYO:4042

Asia55d ago

Market Chatter: Mitsubishi Heavy Revamps Gas Turbine Production Amid AI-Driven Demand

Mitsubishi Heavy Industries (TYO:7011) is overhauling gas turbine production to raise output and cut manufacturing time while limiting capital spending, as demand rises from power-hungry AI data centers, Nikkei reported Thursday.President Eisaku Ito is leading the company's Innovative Total Optimization project at the Takasago Machinery Works in western Japan, where more than 100 employees reviewed over 1,000 processes across procurement, assembly, testing and design, according to the report.The effort aims to improve efficiency in gas turbine combined cycle systems and reduce a growing order backlog. Orders at Mitsubishi Heavy's energy systems unit climbed about 40% to 3.6 trillion yen in the year ended March 2026, the report said.The company is streamlining production by separating assembly lines for different turbine models and reducing machinery changeovers. Mitsubishi Heavy aims to support roughly 30% higher production with limited additional investment, according to the report.The Japanese manufacturer plans to invest about 50 billion yen in turbine capacity, below expansion plans disclosed by rivals GE Vernova and Siemens Energy, 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.)

TYO:7011

Asia55d ago

NRW Holdings Wins AU$200 Million Highway Contract in Western Australia, Shares Hit All-Time High

NRW Holdings' (ASX:NWH) unit NRW Contracting secured a contract worth about AU$200 million for the Tonkin Highway Grade Separations, Hale Road, and Welshpool Road East project by Main Roads Western Australia, according to a Thursday Australian bourse filing.The company said design and procurement activities are expected to commence immediately following contract execution, with construction to start in the fourth quarter, with no material capital outlay required.The scope of works includes reconstruction and widening of Tonkin Highway to provide three lanes in each direction and a diamond interchange at Welshpool Road East, forming part of the wider Tonkin Highway Corridor upgrades from Roe Highway to Kelvin Road, the filing added.The company's shares rose 5% to reach an all-time high in recent Thursday trade.

ASX:NWH

Asia55d ago

Market Chatter: Japan Nuclear Firms Use VR to Address Skilled Labor Shortage

Japanese nuclear equipment makers are accelerating worker training with virtual reality and digital tools as Japan considers building new reactors for the first time since the 2011 Fukushima disaster, Nikkei reported Thursday.IHI (TYO:7013) launched a new welding program in January that combines classroom instruction, hands-on training and video materials captured through camera-equipped welding masks. The company said the system could cut training periods for some technicians to about one-fifth of previous levels, according to the report.Mitsubishi Heavy Industries (TYO:7011) has developed about 50 VR-based courses covering nuclear plant design, construction and maintenance, while Hitachi is digitizing technical expertise to improve knowledge transfer across its nuclear operations, the report said.The push comes as Japan's nuclear sector faces a shrinking skilled labor pool despite rising demand linked to AI-driven electricity consumption and renewed government support for nuclear power, according to the report.Shares of IHI jumped nearly 6%, while those of Mitsubishi Heavy fell almost 2% in recent trade in Japan.(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.)

TYO:7011TYO:7013

Asia55d ago

Bell Financial Group Delivers 197% Profit Growth as Revenue Climbs; Shares Up 6%

Bell Financial Group (ASX:BFG) reported unaudited net profit after tax (NPAT) of AU$16.3 million for the four months to April 30, up 197% year-on-year, with revenue rising 37% to AU$109.6 million, according to a Thursday filing with the Australian bourse.Performance was driven by strong markets trading and deal activity, and continued platform growth, with a notable improvement as trading conditions recovered in the second half of 2025 after a weak first half, per the filing.Unaudited market revenue for the first four months was AU$73.5 million, up 62% on the prior corresponding period, with NPAT of AU$7.4 million, up 423%, while platform revenue was AU$33.2 million, up 9%, with NPAT of AU$8.9 million, up 15% over the same period, the filing added.The company's shares rose 6% in recent Thursday trade.

ASX:BFG

Asia55d ago

Market Chatter: Japan Seeks More UAE Oil Amid Hormuz Disruptions

Japan agreed to buy an additional 20 million barrels of crude oil from the United Arab Emirates as Tokyo seeks alternative supply routes amid disruptions around the Strait of Hormuz, Nikkei reported Wednesday.The agreement followed talks in Abu Dhabi between Economy Minister Ryosei Akazawa and UAE Industry Minister Sultan Al Jaber. Akazawa said he requested additional shipments to Japan, according to the report.The extra crude would cover about eight to nine days of Japan's oil demand based on 2025 consumption levels. Part of the supply is expected to ship through Fujairah on the Gulf of Oman, avoiding the Strait of Hormuz, the report said.Japan imports about 40% of its crude from the UAE and has been seeking alternative supply channels as Middle East tensions intensify. Tokyo also secured 1 million barrels of crude from Mexico last month, 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.)

Nikkei 225

Asia55d ago

EVZ Expects Higher Revenue in Fiscal 2026; Shares Reach Near 13-Year High

EVZ (ASX:EVZ) expects revenue for the year ending June 30 to be in the range of AU$120 million to AU$125 million, and earnings before interest, taxes, depreciation, and amortization (EBITDA) of between AU$8.5 million and AU$9 million, according to a Thursday filing with the Australian bourse.The company reported revenue of AU$108 million and EBITDA of AU$5.3 million in fiscal 2025, the filing said.Shares rose marginally in morning trade Thursday and earlier reached their highest since November 2013.

ASX:EVZ

Asia55d ago

Articore Group Posts Higher Fiscal Q3 Gross Profit; Reaffirms Fiscal Year 2026 Outlook

Articore Group (ASX:ATG) reported AU$32.8 million in gross profit for the fiscal third quarter, up 1.6% from AU$32.2 million in the same period a year earlier, according to a Thursday filing with the Australian bourse.Gross profit after paid acquisition (GPAPA) fell 3.4% to AU$19.5 million in the quarter ended March 31, from AU$20.2 million a year earlier. GPAPA margin was nearly 31%, up 160 basis points on the year-ago period.Marketplace revenue was down 8.5% to AU$63.2 million in the March quarter, compared with AU$69 million in the prior corresponding period.The company has reaffirmed its fiscal year outlook, expecting a GPAPA margin of 27% to 29% and earnings before interest and taxes between AU$6 million and AU$10 million. Underlying cash flow for the fiscal year is expected to reach AU$8 million to AU$12 million.The company's shares rose 2% in recent Thursday trade.

ASX:ATG

Asia55d ago

Market Chatter: Samsung Electronics to Discontinue Consumer Electronics Products Sales in China

Samsung Electronics (KRX:005930) plans to discontinue sales of some of its consumer electronics products in China amid strong competition with the firm's Chinese rivals, Reuters reported Thursday, citing a company statement.While Samsung Electronics' memory chip business is benefiting from the AI boom, its TV, home appliances, and smartphone segments face strong competition, the report said.The consumer electronics products maker said Monday that it had replaced the head of its TV business for the first time in over two years, 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.)

KRX:005930

Asia55d ago

Japanese Equities Open Higher on Hopes of US-Iran Truce

Japanese stocks rallied at Thursday's opening bell after a three-day holiday, fueled by speculation that the U.S. and Iran are nearing a framework deal to end the conflict that has rattled global markets and darkened economic outlook.The Nikkei 225 jumped by 728.2 points, or 1.2%, to open at 60,241.31.Washington has put forward a one-page memorandum of understanding designed to phase in the reopening of the strategically vital Strait of Hormuz and lift the American naval blockade on Iranian ports, Bloomberg News reported on Thursday.The report added that detailed talks on Iran's nuclear program would come later, with no formal agreement having been reached yet.The diplomatic move follows Trump's decision to suspend a brief US naval mission that had aimed to secure safe passage for commercial ships through the strait, a vital route for global oil and gas.Markets are now awaiting Tehran's official response, with energy and equity sectors closely monitoring for any signs of de-escalation.

Nikkei 225

Asia55d ago

PYC Therapeutics Starts Phase 1b Multiple Ascending Dose Study in Polycystic Kidney Disease; Shares Up Nearly 5%

PYC Therapeutics (ASX:PYC) started a phase 1b multiple ascending dose study in patients with polycystic kidney disease, with the dosing of the first patient with its drug candidate, PYC-003, completed, according to a Thursday Australian bourse filing.The study will seek to determine the safety/tolerability profile and optimal repeat dosing regimen of PYC-003 before a proposed transition to a registrational combined phase 2/3 trial.It will also measure other endpoints, including urinary PC1 protein levels, total kidney volume on magnetic resonance imaging, and the estimated glomerular filtration rate, per the filing.The company's shares gained nearly 5% in recent Thursday trade.

ASX:PYC

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