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Hanwha Aerospace Abandons Plan to Take Over Poongsan's Ammunition Business

Hanwha Aerospace (KRX:012450) suspended the review of acquiring the defense unit of Poongsan (KRX:103140), according to a Thursday filing with the Korea Exchange.Shares of Hanwha Aerospace rose nearly 4% at market close while those of Poongsan declined over 3%.The South Korean defense company did not specify the reason for the decision.

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International59d ago

Ceasefire Prospects Lift Asian Stock Markets

Asian stock markets gained ground Friday, after media reports that US-Iran ceasefire negotiations will take place on Saturday in Pakistan.Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.Brent oil futures held under $100 a barrel, near $96 during Asian trading hours.In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 1.8% as traders weighed a profit report from a major retailer and mulled Middle East peace prospects.The benchmark Nikkei 225 rose 1,028.79 to 56,924.11, although losing issues outnumbered gainers 146 to 75.Leading the upside was Fast Retailing, up 12% after reporting H1 earnings and issuing upbeat guidance. Consultancy BayCurrent declined 5.8%.In economic news, Japan's producer price index (PPI) rose 2.6% on year in March, after rising 2.1% on year in February, pushed by higher oil bills, reported the Bank of Japan.In Hong Kong, the Hang Seng Index opened higher and held ground, closing up 0.6% after an inflation report from Beijing suggested the nation's bout with industrial-price deflation may be ebbing.The broad gauge Hang Seng rose 141.14 to 25,893.54 as gaining issues outnumbered losers 56 to 31. The Hang Seng TECH Index gained 0.8% on the day, while the Mainland Properties Index rose 0.4%.Leading the upside was Contemporary Amperex Technology, gaining 9%, while noodle-maker Tingyi declined 3.3%.On the mainland, the Shanghai Composite rose 0.5% to 3,986.22.In economic news, China's producer price index (PPI) rose 0.5% on year in March, snapping a 41-month stretch of contraction, reported the National Bureau of Statistics.China's consumer price index (CPI) rose 1% in March on year, slipping February's 1.3% reading, added the NBS.On the other regional exchanges, the S. Korean KOSPI rose 1.4%; the Taiwan TWSE inclined 1.6%; the Australian ASX 200 declined 0.1%; the Singapore Straits Times Index rose 0.3%, and the Thai Set inclined 1.2%. In late trading in Mumbai, the Sensex was up 1.2%The MSCI All Country Asia Pacific Index rose 0.7% on the day.

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Asia59d ago

Chunghwa Telecom Logs NT$10 Billion Profit in Q1

Chunghwa Telecom (TPE:2412) posted net income attributable to shareholders of NT$10.1 billion, or NT$1.30 per share for the first quarter.Revenue for the quarter totaled NT$60 billion, according to a Friday filing with the Taiwan Stock Exchange.For March alone, net income attributable to shareholders reached NT$3.32 billion or NT$0.42 per share. Meanwhile, revenue came in at NT$20.8 billion, the filing said.

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International59d ago

Chinese NEV Exports Surge 140% in March, Car Association Says

Chinese exports of new energy vehicles surged 140% year over year to 349,000 units, the China Passenger Car Association said Thursday.BYD (HKG:1211, SHE:002594) led the pack with 116,882 units, while Geely (HKG:0175) exported 52,186 units and Chery Automobile (HKG:9973) exported 40,837 units to complete the top three exporters for the month.The surge could be attributable to energy shocks due to the war in Iran, Bloomberg reported separately.

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Equities59d ago

TD Cowen Adjusts Price Target on Exxon Mobil to $172 From $175, Maintains Buy Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $163.04, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Asia59d ago

MediaTek Logs NT$63.2 Billion Profit in March

MediaTek (TPE:2454) logged consolidated net sales of NT$63.2 billion for March, according to a Friday filing with the Taiwan Stock Exchange.The figure rose 62% from NT$39 billion recorded in February, the company said.

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Asia59d ago

Hanwha Aerospace Wins KRW948.2 Billion Follow-On K9 Howitzer Contract from Finland's Defence Ministry

Hanwha Aerospace (KRX:012450) secured a follow-up contract worth 546 million euros, or 948.2 billion won, from the Finnish Ministry of Defence to supply K9 Self-Propelled Howitzers (SPH), the defense products manufacturer said in a Friday release.Finland first ordered 48 K9 units in 2017 and has since then placed several orders for the same. With the latest deal, Finland became the third NATO member, after Türkiye and Poland, to operate more than 200 units of K9, it said.The contract comprises 112 K9 systems and spare parts, with deliveries to the Finnish Army scheduled to commence from 2028, the release said.Shares of Hanwha Aerospace rose nearly 4% at market close.

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Asia59d ago

Indian Equities Rise on Friday Ahead of US-Iran Talks

Indian benchmarks indices closed higher on Friday, supported by optimism around upcoming U.S.-Iran talks that could ease geopolitical tensions.The BSE Sensex gained 918.60 points, or 1.2%, to end at 77,550.25, while the NSE Nifty 50 rose 275.50 points, or also 1.2%, to settle at 24,050.60.Markets saw steady buying through the session. Banking and financial stocks led the gains. Investors are tracking the outcome of peace talks scheduled over the weekend, as it could influence crude oil prices and near-term market direction.Among stocks, RailTel Corp. of India (NSE:RAILTEL, BOM:543265) edged higher after securing a 231.8 million rupee order to develop an online portal for a Goa government body.Oasis Securities (BOM:512489) jumped 5% after appointing Surendra Kumar Joshi as chief financial officer with effect from Friday.

$^BSE$^NSEI$BOM:512489$BOM:543265$NSE:RAILTEL

Asia59d ago

Sansan's Nine-Month Profit Soars 142%

Sansan's (TYO:4443) profit attributable to owners of the parent soared 142% to 4.11 billion yen for the nine months ended Feb. 28 from 1.70 billion yen a year earlier.The software company's earnings per share increased to 32.13 yen from 13.21 yen a year ago, according to a Tokyo bourse filing on Friday.Net sales jumped 26% to 39.3 billion yen from 31.1 billion yen in the prior year.In a separate filing, Sansan raised the lower end of its full-year net sales forecast to 53.6 billion yen from 52.7 billion yen initially, and its adjusted operating profit forecast to 8.04 billion yen from 6.85 billion yen, reflecting steady business progress through the third quarter.As such, for the fiscal year ending May 31, the company now expects net sales of 53.6 billion to 54 billion yen and adjusted operating profit of 8.04 billion to 8.64 billion yen, as it refrained from providing a specific 'concrete' forecast.Sansan does not plan to pay any interim or year-end dividends for the current year, similar with the year before.

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Asia59d ago

US FCC Could Bar Top Chinese Telcos From Operating US Data Centers

The U.S. Federal Communications Commission said it could bar three big Chinese telecommunications firms from operating data centers in the U.S. and ban U.S. interconnections with the three companies.The commission said it has tentatively concluded there are national security concerns regarding U.S. telecommunication companies connecting with companies identified in the U.S. government's "covered list."The FCC will have to seek comment regarding interconnections with the companies, among them China Mobile (HKG:0941), China Telecom (HKG:0728, SHA:601728), and China Unicom (HKG:0762), Reuters reported separately.The FCC could disallow U.S. telecommunications companies from connecting with companies that use equipment from the list, among them ZTE (HKG:0763, SHE:000063), the newswire said.The commission will vote on the possible ban on April 30.

$HKG:0728$HKG:0762$HKG:0763$HKG:0941$SHA:600941$SHA:601728$SHE:000063

Treasury59d ago

BMO Sees $20 Billion Fiscal Upside For Oil Provinces On $100 WTI, Flags Wider Regional Gap

Bank of Montreal (BMO) looks at Canada's fiscal situation after the provincial budget season and ahead of Ottawa's mid-year update.All is now set against a backdrop of US$100/barrel oil, noted the bank.The two big oil-producing provinces locked in their budgets ahead of the conflict in Iran and associated surge in oil prices, and budget assumptions immediately look wildly"conservative," stated BMO.Alberta assumed US$60.50/barrel for WTI this fiscal year and Saskatchewan assumed US$59.80/barrel, while Newfoundland & Labrador still has to be tabled.At current levels for WTI, the light-heavy differential and the Canadian dollar (CAD or loonie), the bank could see upwards of $20 billion of revenue upside in those two provinces alone, swinging both well back into surplus.High oil prices will only add to the widening regional disparity in economic and fiscal performance in the country, according to BMO. The fiscal side of that might be the most "dramatic" reflection.

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Sectors59d ago

Brent Crude Up 0.5% at US$96.40 and NY Crude Up 0.7% at Near US$98.60

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US Markets59d ago

Heineken Shifts to Brand-Licensing Model in Congo via Bralima Stake Sale

Heineken (HEIA.AS) divested its stake in Brasseries, Limonaderies et Malteries, or Bralima, as it pivots to a brand-licensing partnership to keep its presence in the Democratic Republic of Congo.The Dutch brewer said Friday it sold its interest in Bralima to Elna Holdings for an undisclosed amount. The Mauritius-based company will take full control of Bralima's operations, including production, distribution, workforce management and local stakeholder engagement.Established in 1923, Bralima manages three breweries in Kinshasa, Kisangani, and Lubumbashi. After the transaction is finalized, the business, which employs 731 people, will maintain operations at these locations.Meanwhile, through long-term licensing deals, Heineken ensures its brands, including Heineken, Primus, Turbo King, Legend and Mützig, will continue to be produced, marketed and distributed locally. The brewing company said the transaction is consistent with its EverGreen 2030 strategy, which prioritizes active portfolio management and continued refinement of its international operational footprint."This step allows [Bralima] to continue under a locally anchored model, while ensuring that our brands remain available to consumers across the country. It also reflects our move towards a more asset-light approach in selected markets," Guillaume Duverdier, Heineken's president for Africa and the Middle East region, said.By Friday midday, the Amsterdam-listed stock was 1% higher.

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Japan59d ago

Nasdaq 100 and S&P Futures Both Flat To Slightly Higher Ahead of U.S. and Iran Peace Talks Tomorrow, US CPI Data Today

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US Markets59d ago

WD-40 Maintains Fiscal 2026 Outlook Despite Potential Impact of Middle East War

WD-40 (WDFC) reiterated its full-year outlook despite the potential impact from the Middle East conflict, while the maker of lubricants and cleaning products recorded year-over-year gains in its fiscal second-quarter results.The company continues to project per-share earnings to come in between $5.75 and $6.15 for fiscal 2026, it said late Thursday, while three analysts polled by FactSet are looking for $6.04. Sales are still pegged at $630 million to $655 million, after adjusting for foreign-currency impacts, compared with the $658.2 million consensus based on the same number of analysts."While geopolitical developments in the Middle East and their potential impact on the global economy warrant caution, we are encouraged by the momentum in the business," Chief Financial Officer Sara Hyzer said during an earnings call, according to a FactSet transcript. "We have clear visibility in promotional activity in the US, and are seeing improving momentum in both (Europe, India, the Middle East and Africa) and Asia-Pacific."Earlier in the week, the US and Iran agreed to a two-week ceasefire, but Tehran later accused Washington of breaching certain elements of the truce. The war started at the end of February, sending energy prices soaring amid the closure of the crucial Strait of Hormuz.The conflict has contributed to the increased costs of certain petroleum-based specialty chemicals, which are expected to increase the company's costs of products sold, Hyzer said on the call. "The duration of this conflict and its impact on our raw materials will drive our decisions around mitigation efforts, which we are currently assessing," according to Hyzer.Hyzer said WD-40 is advancing in its process to sell its American homecare and cleaning brand. In the fourth quarter of fiscal 2025, the firm completed the sale of its homecare and cleaning portfolio in the UK.If the company isn't able to divest the Americas homecare and cleaning brand, it expects its full-year EPS and sales guidance to be positively impacted by $0.20 a share and about $12.5 million, respectively, the CFO added.For the three-month period ended Feb. 28, adjusted EPS climbed 14% to $1.50. Sales inclined 11% on a yearly basis to $161.7 million. Revenue from maintenance products grew 13% to $156.8 million, while homecare and cleaning sales dropped 29% to $4.8 million."We capitalized on strong momentum in the second quarter," Chief Executive Steve Brass said in the earnings release. "Maintenance products remain our core strategic focus, and sales of these brands grew 6% in constant currency in the second quarter in line with our long term growth expectations."Sales grew across all regions, led by a 19% jump in Asia Pacific, WD-40 said.

$WDFC

US Markets59d ago

Indonesian Consumer Confidence Declines in March

Indonesian consumer confidence retreated modestly in March, as respondents mulled the job market and the larger economy.The Indonesia consumer confidence index dropped to 122.9 in March from 125.2 in February, marking a five-month low but still struck well above the 100-mark that separates optimism from pessimism, reported Bank Indonesia on Friday.The March confidence decline reflected weaker economic outlooks and lower expectations for job availability.On March, the current economic conditions sub-index logged 115.4, off modestly from 115.9 in February.The consumer expectations sub-index declined to 130.4 in March from 134.4 in February, added the central bank.Consumers were also less confident in March than in February about spending for large-ticket durable goods.On other metrics, the business activity expectations index decreased to 125.5 in March from 130.9 in February, reported Bank Indonesia.In general, the national government held consumer fuel charges steady, through subsidies, in March.The Indonesian consumer survey is conducted monthly by phone and personal visits to 4,600 households in 18 major cities, according to Bank Indonesia.

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US Markets59d ago

Japan Producer Prices Edge Higher in March

Japan's producer prices edged higher in March, as domestic enterprises faced rising fuel bills.Japan's producer price index (PPI) rose 2.6% on year in March, after rising 2.1% on year in February, reported the Bank of Japan on Friday.The PPI rose 0.8% in March from February, as the petroleum and coal sub-index PPI rose 7.7% on month, reflecting the jump in global fuel prices after the closure of the Strait of Hormuz in early March.About 20% of global oil production flows through the Strait of Hormuz, which has been effectively closed by Iran.Japan's PPI measures selling prices received by domestic producers for goods at the factory gate, in business transactions with large buyers. It is distinct from the consumer price index (CPI), which measures prices in retail locations.Other PPI sub-indices were generally muted in March, although the textile products rose 3% from February, reported the Bank of Japan.Japan's PPI had accelerated during the pandemic era, striking a crest of a 10.6% on-year gain in December 2022.More recently, the nation's PPI rose more than 4% on year in early 2025, but since then has been gradually easing, until the March report.The PPI is considered one of the leading indicators of a nation's consumer prices, as retailers try to recoup the costs of acquiring goods to stock shelves.The Bank of Japan has a 2% annual inflation target on Japan's CPI-core, which strips out fresh food prices. That metric logged a 1.6% on-year gain in February, down from a 2% rise in November 2025, reported officials.The next Bank of Japan policy meeting is slated for late April. Central bankers will face oil-price-induced inflation, but also an economy that is growing sluggishly, and may be hamstrung by higher fuel bills.

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US Markets59d ago

South Korea Keeps Rate Steady at 2.50%

South Korea kept its monetary interest rates unchanged as the Middle East conflict brought more pressure on inflation and risks to economic growth.The Bank of Korea decided to leave the base rate steady at 2.50%, according to a Friday disclosure from the central bank.The decision was in line with ING's prediction that rates would be unchanged. In an April 2 note, ING analysts Lynn Song and Min Joo Kang said strong demand for chips helped offset the effect of commodity supply constraints, while government measures are mitigating the effects of the oil price shocks that could trigger inflation higher."The currently available information suggests that the global economy has continued its relatively favorable growth trend, supported by AI-related investment and fiscal expansion in major economies," the central bank said in a press release. "However, growth is expected to weaken and inflation to increase, affected by energy price hikes and supply constraints stemming from the war in the Middle East."The BoK forecasted that inflation is likely to rise to between the mid- and upper- 2% range due to global oil price hikes.Consumer price inflation in March increased to 2.2% from the previous month's 2%, while short-term inflation expectations among the general public moderately climbed to 2.7%, the BoK said.The U.S. and Iran only recently reached an 11th-hour deal to a two-week ceasefire after President Donald Trump threatened Tehran to wipe it out unless the Strait of Hormuz is reopened. The impact of the ceasefire is yet to be seen, especially since a longer-term peace treaty seemed uncertain.ANZ said that the policy messaging from BoK did not signal imminent tightening as Governor Rhee Chang-yong said it is "premature to discuss a rate hike" amid uncertainty on the duration of the war in Iran and the scale of its impact."The BoK continues to retain optionality, with any rate hike likely conditional on the price shock proving persistent and materially lifting inflation expectations," ANZ Asia Economist Krystal Tan said.ANZ maintains its stance that the BoK will add 25 basis points to its rate in the second half of the year.

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Asia59d ago

A-Sonic Aerospace Buys Back More Shares

A-Sonic Aerospace (SGX:BTJ) bought back 20,000 shares in the open market on Friday for SG$10,887, according to a same-day filing with the Singapore Exchange.The aerospace equipment and logistics company has been authorized to buy back about 10.6 million shares under its new mandate.

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Asia59d ago

ASTI to Cease Quarterly Reporting Following Clean Audit Report

ASTI (SGX:575) will cease quarterly reporting of its financials, according to a Friday filing with the Singapore Exchange.The disclosure comes after the company's auditor, Forvis Mazars, issued a clean audit opinion.The company will now release its financial statements for the six months ending June 30, no later than 45 days after the end of the financial period, the filing said.

$SGX:575

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US Markets59d ago

WD-40 Maintains Fiscal 2026 Outlook Despite Potential Impact of Middle East War

$WDFC