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Kobe Bussan's March Sales Rise 2.9%

Kobe Bussan's (TYO:3038) March net sales reached 49.1 billion yen, up 2.9% on a non-consolidated basis, according to a Monday filing on the Tokyo Stock Exchange.The supermarket operator's gross profit jumped 7.3% to 5.28 billion yen, while operating profit grew 1.9% to 2.93 billion yen.The Gyomu Super operator opened two direct-managed and five indirectly-run stores in the month, bringing its network to 1,136 locations. There were no closures.Shipments to existing stores in directly managed areas increased 1.4%, and nationwide shipments rose 1.9% from a year earlier.

TYO:3038

Asia59d ago

Hong Kong Stocks Start Week in Green; Xizhi Technology, Mabwell Launch IPOs

Hong Kong stocks finished higher Monday as investors remained cautiously optimistic over the prospect of a diplomatic breakthrough between Iran and the U.S.The Hang Seng Index rose by 200.74 points, or roughly 0.8%, to end at 26,361.07, while the Hang Seng China Enterprises Index increased by 54.04 points, or around 0.6%, to close at 8,899.06.Tensions brewed after a US Navy destroyer, USS Spruance, intercepted an Iranian-flagged cargo vessel called Touska near the Strait of Hormuz and Iran issued a warning to the US.Despite an announcement from Iran that it had again closed the strait, 20 ships had transited from the narrow passage on Saturday, Reuters reported, citing Kpler data.The ongoing conflict in the Middle East is helping Hong Kong reassert itself as a haven in global finance, thanks to its geographical location and support from China's economic strength, the South China Morning Post said in a report.According to the paper, banks had turned to the city to protect their business, while global investors had inquired about adding allocations of mainland Chinese assets to their portfolio.In corporate news, two mainland Chinese firms filed to go public in Hong Kong.Shanghai Xizhi Technology (HKG:1879) is looking to raise up to HK$2.53 billion via the sale of 13.8 million shares at a maximum price of HK$183.20 each. The optoelectronic computing company will use the proceeds to advance research and development.Meanwhile, Mabwell (Shanghai) Bioscience (HKG:2493, SHA:688062) is seeking about HK$1.45 billion via the sale of 47.1 million H-shares for up to HK$30.71 per share.Net proceeds will be used primarily to advance clinical trials of the pharmaceutical company's core product, 9MW2821, across multiple indications, including urothelial carcinoma, triple-negative breast cancer, and cervical cancer.

Hang SengHKG:1879HKG:2493SHA:688062

Oil & Energy59d ago

EMEA Natural Gas Update: Futures Soar Over 6% After Iran Closes the Strait of Hormuz Again

European natural gas futures were up on Monday after Iran closed the Strait of Hormuz again, citing the continuing US naval blockade against the country.The front-month Dutch TTF contract was up 5.86% to 41.04 euros ($48.26) per megawatt-hour, while UK NBP futures rose 6.38% to 103.31 British pence ($1.38) per therm.Even after Iranian Foreign Minister Seyyed Abbas Araghchi declared the Hormuz "completely open for the remaining period of ceasefire," ships transiting the crucial waterway were attacked over the weekend.In a statement on Saturday, the Islamic Revolutionary Guard Corps Navy said, "No vessel is to move from its anchorage in the Persian Gulf or the Sea of Oman," according to a report by BBC News.In a Truth Social post on Friday, US President Donald Trump hailed Iran's decision to reopen the Strait, while noting that the blockade against Iran would continue until a peace deal is reached.On Sunday, US forces intercepted an Iranian-flagged vessel attempting to enter port by violating the blockade. The ship was boarded by US Marines, and now remains in their custody, marking a major escalation in the conflict, according to US Central Command.Meanwhile, the second round of negotiations between the US and Iran is set to take place in Islamabad, Pakistan, on Tuesday, with the two-week-long ceasefire set to expire at the same time.The Strait of Hormuz now remains closed for the eighth week running, with just six vessels passing through over the past 24 hours, according to the Hormuz Strait Monitor, a sharp decline from the typical daily average of 138 vessels.According to SEB Research's Chief Commodities Analyst, Bjarne Schieldrop, the markets are betting on a quick resolution in the conflict, but he warned that each new day that the Strait remains closed "is bringing us closer to a potentially very painful point of shortages and much higher prices."This comes as Europe begins reinjections at significantly depleted inventory levels of 30.20%, compared to 36.45% during the same period last year, according to Gas Infrastructure Europe.The bloc faces a serious challenge this reinjection season as stocks hit a four-year low, according to Argus Media, while noting that this tightened global supply makes it much worse.

Asia59d ago

Hefei Chipmore Technology to Invest Up to 800 Million Yuan in Wealth Products

Hefei Chipmore Technology (SHA:688352) plans to invest up to 800 million yuan in idle funds to purchase low-risk, short-term wealth management products, including structured deposits, time deposits and certificates of deposit.The funds can be used on a rolling basis over 12 months, according to a Monday filing with the Shanghai bourse.Shares of the integrated circuit packaging and testing services provider closed 2% higher Monday.

SHA:688352

Asia59d ago

Koei Tecmo Raises Fiscal 2025 Forecasts on New Launches, Non-Operating Income Gains

Amusement and anime holding company Koei Tecmo (TYO:3635) has raised its attributable profit forecast for the fiscal year 2025 to 41.5 billion yen from 27 billion yen previously, according to a Tokyo bourse filing on Monday.Interim net income per share estimates for the year ended March were increased to 127.68 yen from 85.49 yen initially, but the net sales projection decreased to 87.5 billion yen from 92 billion yen.The upward revision was driven by new titles launched in the fourth quarter and other titles exceeding initial plans, which boosted net sales and operating profit.Additionally, significant gains in non-operating income and expenses resulting from active market management further lifted ordinary profit and profit attributable to owners of the parent.As a result, net sales, ordinary profit, and attributable profit are all expected to achieve record levels for the company.

TYO:3635

Asia59d ago

Nomura Adjusts Dayamitra Telekomunikasi's Price Target to IDR675 From IDR750, Keeps at Buy

Dayamitra Telekomunikasi (IDX:MTEL) has an average rating of overweight and mean price target of 707.50 rupiah, 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)

IDX:MTEL

Asia59d ago

Nomura Adjusts ICICI Bank's Price Target to INR1,620 From INR1,535, Keeps at Buy

ICICI Bank (NSE:ICICIBANK, BOM:532174) has an average rating of buy and mean price target of 1,670.80 Indian rupees, 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)

BOM:532174NSE:ICICIBANK

Asia59d ago

Nomura Adjusts HDFC Asset Management's Price Target to INR3,130 From INR2,950, Keeps at Buy

HDFC Asset Management (NSE:HDFCAMC, BOM:541729) has an average rating of buy and mean price target of 3,018.52 Indian rupees, 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)

BOM:541729NSE:HDFCAMC

Asia59d ago

Nomura Adjusts Shenzhen Sunway Communication's Price Target to 87 Yuan From 76 Yuan, Keeps at Buy

SHE:300136

Research59d ago

Nomura Upgrades Anji Microelectronics Technology to Buy From Neutral, Adjusts Price Target to 320 Yuan From 175 Yuan

SHA:688019

Asia59d ago

Heightened Competition in China's On-Demand Delivery Segment Raises Risk of Lingering Price War, S&P Says

Continued elevated competition between major companies in China's on-demand delivery market raises the risk of a persistent price war amid a delay in subsidy reductions until 2028, S&P Global Ratings said in a recent release.These create adverse conditions for all players, S&P said.Major platform operators Meituan (HKG:3690), JD.com (HKG:9618), and Alibaba Group Holding (HKG:9988) have allocated significant spending to seize a share of the on-demand delivery markets, such as food and online retail, S&P senior analyst Jay Lau said.These fast-paced segments account for more than 6% of China's retail sector, S&P said.The negative impact of the price war will be greater than expected, continuing the negative trend on major players' EBITDA since 2025, Lau said.

Shanghai Composite^SZSEHKG:3690HKG:9618HKG:9988

Equities59d ago

Active Energy Says UAE Site Fully Energized Ahead of Schedule

Active Energy Group (AEG.L) achieved energization at the Ghummud site in Abu Dhabi, United Arab Emirates, earlier than expected.The UK-listed renewable energy and digital infrastructure company said Monday that the site is expected to be operational significantly ahead of the previously communicated timeline of 10 to 12 weeks.

^FADGI$AEG.L

Asia59d ago

BELLSYSTEM24 Maintains Year-End Dividend Payout

BELLSYSTEM24(TYO:6183) declared a year-end dividend per share of 30 yen, matching both the most recent forecast and the actual dividend from the prior fiscal year.The management consulting firm resolved at a board meeting on April 20 to pay out a total of approximately 2.24 billion yen in dividends, effective May 28, according to a Tokyo bourse filing on Monday.The dividend proposal will be submitted for approval at the 12th general meeting of shareholders on May 27.

TYO:6183

Asia59d ago

Multi Commodity Exchange of India Gets SEBI Nod to Invest in Coal Exchange Venture

MULTI COMMODITY EXCHANGE OF INDIA (BOM:534091) said it has received approval from the Securities and Exchange Board of India (SEBI) to invest in a proposed coal exchange company, according to a Monday filing on BSE.The company plans to incorporate a wholly owned subsidiary for the venture with an initial investment of up to 1 billion Indian rupees, the filing said. The proposed entity will develop a platform for coal trading and price discovery, it added.

BOM:534091

Asia59d ago

Acom Raises Fiscal-Year Forecasts on Better Than Expected Interests, Weaker Yen

Acom (TYO:8572) raised its attributable profit forecast for the fiscal year ended March 31 to 79.6 billion yen from 72.2 billion yen initially, according to a Tokyo bourse filing on Monday.The consumer loan company now expects basic EPS to reach 50.81 yen from 46.09 yen previously, and operating revenue to reach 337.7 billion yen from 331.8 billion yen.The upward revision was driven by interest on operating loans exceeding expectations and the impact of yen depreciation, while operating expenses fell below plan due to lower provisions for bad debts and loss on interest repayment.Additionally, Acom raised its year-end dividend forecast to 12 yen per share from 10 yen previously.

TYO:8572

Asia59d ago

Inner Mongolia Baotou Steel Union to Renew Financial Services Deal With Baogang Group Finance

Inner Mongolia Baotou Steel Union (SHA:600010) plans to renew its financial services agreement with Baogang Group Finance for three more years, according to a Shanghai bourse filing on Saturday.The Chinese metal smelter's shares rose less than 1% at the close of Monday's trade.The financial services will include deposit services, which will have a daily maximum deposit balance of up to 5 billion yuan, bill acceptance capped at 1.9 billion yuan and loan services that have a daily credit balance cap of up to 5 billion yuan.

SHA:600010

International59d ago

Italy's Annual Construction Output Up 1.4% in February

Italy's calendar-adjusted construction output index increased 1.4% year over year in February, following a revised 0.4% decline in January, statistics agency Istat said Monday.On a monthly basis, the country's seasonally adjusted construction output rose 0.5%, against the revised 1.1% fall earlier.

^SXXP

Asia59d ago

Hefei Chipmore Technology Takes 219-Million-Yuan Hit from Factory Fire

Hefei Chipmore Technology (SHA:688352) wrote off 219.4 million yuan in assets following a fire at its Suzhou subsidiary's bumping process section on Jan. 24.The company recorded the full book value of damaged inventory and fixed assets as non-operating expenses for the first quarter, reducing total profit by the same amount, according to a Monday filing with the Shanghai bourse.Shares of the integrated circuit packaging and testing services provider closed 2% higher Monday.

SHA:688352

International59d ago

Ifo: German Investment Expectations 'Somewhat' Brightened in March Despite War-driven Uncertainty

German company investment plans have moved to positive territory as orders improved, though the "somewhat" brightening sentiment is offset by uncertainty driven by the Iran war.The ifo Institute reported Monday that its investment expectations indicator ticked up to 0.2 point in March 2026 from -3.1 points in December 2025.Expectations in the industry segment notably rose to 0.1 point from -6.9 points in December 2025, with the outlook improving "particularly strongly" within non-energy-intensive sectors as a significant majority of companies are now budgeting for investment expansion.

^SXXP

Equities59d ago

North Energy Shareholder Requests Investigation into Share Purchases by Managers

North Energy (NORTH.OL) said Monday it received a request from shareholder Anti-Gravity AS to include a proposal to investigate managers' share purchases at its upcoming extraordinary general meeting.The shareholder seeks to determine whether the purchases on April 16 were executed in a closed period and if the handling of the request and the trades constitute a breach of equal treatment and fiduciary duties. The company on April 15 said it received a request to convene an EGM.The Oslo, Norway-listed energy company said it will include the investigation request on the agenda but noted that the proposal lacks merit, as closed periods relate to mandatory interim or year-end reports, not a voluntarily published quarterly report, and it was submitted after the deadline.

$NORTH.OL

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Oil & Energy59d ago