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Market Chatter: Vietnam to Extend Fuel Import Waiver Until End-June

Vietnam is looking to extend its fuel import tariff waiver until the end of June to ease pressure on domestic industries, The Bangkok Post reported Monday, citing state media.The measure, first introduced in early March, is pending legal review and is expected to lower government revenue by about 2.02 trillion dong. Authorities are also considering a temporary removal of import duties on key fuel inputs such as naphtha, reformate and condensate, reportedly.In a separate move, the government plans to prolong reduced taxes on electric vehicles through 2030 to boost adoption.The proposal will be sent to parliament as Vietnam pushes to expand EV use and cut emissions, the news outlet 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.)

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Sectors60d ago

Crude Oil Prices Jump as U.S.-Iran Ceasefire Appears Fragile

Crude oil prices surged on Monday amid concerns about the fragility of the ceasefire between the U.S. and Iran affecting flows through the Strait of Hormuz.Brent crude at last look gained 5% to US$94.92/barrel and West Texas Intermediate crude rose 6% to $88.89/barrel. This comes after the U.S. seized an Iranian cargo ship, and despite Iran's declaration that the Strait of Hormuz will be opened through the ceasefire, tankers have been fired upon by the Islamic Revolutionary Guard Corps, Reuters reported Monday, citing analysts."Market fundamentals are getting worse, as 10-11 million barrels per day of crude oil remains shut in," Reuters quoted Sparta Commodities analyst June Goh as saying.Iran said it would not participate in a second round of negotiations that the U.S. had hoped to start before the two-week ceasefire expires this week, igniting fears of a resumption in hostilities, the report said.

$CLX1$LCOX1$USO

Asia60d ago

S&P Assesses GOHL Capital Holdings' Proposed Hybrids as Having Intermediate Equity Content

S&P Global Ratings has assessed GOHL Capital Holdings' proposed subordinated perpetual capital securities issuance as having intermediate equity content, according to a Monday release.S&P believes that 50% of the proposed issuance would be considered as debt.Genting Overseas Holdings, which is wholly owned by Malaysia-based Genting (KLSE:GENTING) and serves as its investment holding vehicle for international investments, will act as the guarantor for the hybrid securities.S&P considers Genting Overseas Holdings as a core subsidiary of its parent, with extraordinary support to be received under any foreseeable scenario.Genting provides a keepwell deed for the hybrids, pointing to the parent's commitment to support the subsidiary's and group's overall credit quality, S&P said.

KLSE:GENTING

Asia Markets60d ago

US Equity Investors to Focus on Geopolitical Risk While Earnings Season Gathers Momentum

US equity investors will focus on mounting geopolitical risk in the Middle East while keeping an eye on Q1 earnings and retail sales.* Iran vowed retaliation after the US Navy seized an Iranian cargo ship in the Gulf of Oman, endangering the planned second round of negotiations in Pakistan this week to find a lasting solution for peace for Tehran, according to multiple media reports.* US Vice President JD Vance and top US officials were expected to travel to Islamabad, but Iran's foreign ministry insisted there were no plans for talks, CNN reported. The ceasefire, which the US and Iran have accused each other of violating, expires on Wednesday.* After scaling fresh records on Friday amid optimism that an Iran peace deal could materialize without extending the two-week ceasefire, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average futures slumped early on Monday amid concerns of an escalation of the war in the Middle East.* West Texas Intermediate crude oil futures soared 7.2% to $89.92, and Brent crude futures jumped 6.3% to $96.10 pre-bell. Reflecting the potential impact of elevated crude oil prices on inflation, gold futures dropped 1.5% to $4,808.8, and silver futures slumped 3% to $79.37 early Monday. Similarly, most US Treasury yields rose, with the 10-year up 2.2 basis points to 4.27% and the two-year jumped 3.5 basis points to 3.74%.* The highlight of quarterly earnings this week will be Tesla (TSLA) as well as some technology names such as Intel (INTC), IBM (IBM), Lam Research (LRCX), Texas Instruments (TXN), and SAP (SAP). Other mega-caps expected to report this week include American Express (AXP), GE Vernova (GEV), Boeing (BA), and United Health (UNH).* In US macroeconomic data, investors will focus on retail sales, S&P Global manufacturing and services PMIs, ADP employment change, initial jobless claims, and the final read on Michigan consumer sentiment alongside Michigan inflation expectations for one and five years ahead.

Dow JonesNasdaq CompositeS&P 500$AXP$BA$GEV$IBM$INTC$LRCX$SAP$TXN$UNH

Research60d ago

Wells Fargo Upgrades Biogen to Overweight From Equalweight, Adjusts PT to $250 From $200

Biogen (BIIB) has an average rating of overweight and mean price target of $210.96, 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)

$BIIB

Research60d ago

Wells Fargo Downgrades NXP Semiconductors to Equalweight From Overweight, Adjusts PT to $235 From $265

NXP Semiconductors NV (NXPI) has an average rating of overweight and mean price target of $259.33, 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)

$NXPI

Research60d ago

Jefferies Downgrades Exelon to Hold From Buy, Adjusts Price Target to $50 From $55

Exelon (EXC) has an average rating of hold and mean price target of $51, 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)

$EXC

Asia60d ago

Hong Fok Buys Back More Shares

Hong Fok (SGX:H30) bought back 352,800 shares in the open market on Monday for around SG$347,110, according to a same-day after-market filing with the Singapore Exchange.To date, the property investment company has bought back over 13.1 million shares.

SGX:H30

Research60d ago

Mizuho Downgrades Skyworks Solutions to Underperform From Neutral, Adjusts PT to $46 From $60

Skyworks Solutions (SWKS) has an average rating of hold and mean price target of $64.06, 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)

$SWKS

Asia60d ago

Rex International's Chairman to Step Down

Rex International's (SGX:5WH) chairman, John d'Abo, will step down from the role, effective April 24, according to a Monday filing with the Singapore Exchange.d'Abo has stepped down from the role as part of the company's restructuring and streamlining of executive roles.

SGX:5WH

Asia60d ago

Singapore Shares Close Higher as Phase 2 of US-Iran Talks Nears; H2G Green Surges 11%

Singapore shares closed higher on Monday, tracking regional gains as the US continues its push for the second phase of its peace talks with Iran in Islamabad.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,978.66 and 5,012.59 throughout the day. It ended the session at 5,004.07, up 6.14 points or 0.1% compared to Friday's close.Iranian officials are yet to commit their participation ahead of the ceasefire deadline, with mediators eyeing a memorandum of understanding between the two parties.On the corporate front, share of H2G Green (SGX:5AI) surged over 11% at the close, with the company targeting to raise over SG$3.6 million through the subscription of around 516.6 million shares at SG$0.00702 per share to several subscribers.Southern Alliance Mining (SGX:QNS) was up over 2% as it signed a non-binding agreement with Brazilian Critical Minerals (ASX:BCM) to evaluate opportunities for the development and distribution of rare earth products.Meanwhile, CapitaLand Integrated Commercial Trust (SGX:C38U) signed a put-and-call option agreement to sell Asia Square Tower 2 to IOI Marina View for SG$2.48 billion.

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Asia60d ago

GMO GlobalSign to Acquire StrategIT to Boost AI Capabilities

GMO GlobalSign Holdings (TYO:3788) said it will acquire a 96.4% stake in StrategIT for 434 million yen to strengthen AI and data integration capabilities, according to a Monday filing on the Tokyo Stock Exchange.The company plans to integrate StrategIT's MCP-based platform with its services, including GMO Sign and GMO Trust Login, to enhance enterprise offerings in the AI era.Following a planned third-party allotment, its stake is expected to rise to 97.2%, with total investment reaching about 564 million yen. The deal is scheduled to complete April 30.

TYO:3788

Asia60d ago

Heroz Divests StrategIT for 424.6 Million Yen, Acquires AKM Consulting for 105 Million Yen

Heroz (TYO:4382) has disposed 79,499 shares in consolidated subsidiary StrategIT to GMO GlobalSign for 424.6 million yen, according to a Tokyo bourse filing on Monday.Separately, the AI and technology firm has agreed to acquire a 70% stake or 490 shares in AKM Consulting for 140 million yen, which includes estimated advisory fees of 35 million yen.The StrategIT sale is expected to generate a gain, with completion targeted around April 30, while the AKM acquisition is scheduled for May 1.

TYO:4382

Research60d ago

Goldman Sachs Upgrades Williams Companies to Buy From Neutral, Adjusts PT to $82 From $78

Williams Companies (WMB) has an average rating of overweight and mean price target of $81.25, 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)

$WMB

Research60d ago

Jefferies Upgrades Ulta Beauty to Buy From Hold, Adjusts Price Target to $700 From $635

Ulta Beauty (ULTA) has an average rating of overweight and mean price target of $689.67, 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)

$ULTA

Asia60d ago

Nxera Pharma to Receive $10 Million Milestone from AbbVie for Neurology Collaboration

Nxera Pharma (TYO:4565) said it will receive a $10 million milestone payment from AbbVie under their neurological disease research partnership, according to a Monday filing on the Tokyo Stock Exchange.The payment marks the third milestone in the collaboration and is tied to the identification of validated drug candidates targeting neurological conditions.Under the agreement, Nxera is eligible for up to $1.2 billion in total milestones, along with tiered royalties on future sales. The partnership, launched in 2022, uses Nxera's GPCR-focused discovery platform to develop new therapies for unmet neurological needs.

TYO:4565

Research60d ago

Deutsche Bank Upgrades Ecolab to Buy From Hold, Price Target is $325

Ecolab (ECL) has an average rating of overweight and mean price target of $322.11, 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)

$ECL

Research60d ago

Berenberg Upgrades Air Products and Chemicals to Buy From Hold, Adjusts PT to $350 From $275

Air Products and Chemicals (APD) has an average rating of overweight and mean price target of $321.53, 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)

$APD

Asia60d ago

Ishihara Sangyo Unit Halts Factory Operations Due to Fire

Ishihara Sangyo Kaisha (TYO:4028) said a fire at its subsidiary Fuji Titanium Industry's Kobe plant damaged facilities and suspended operations, according to a Monday filing on the Tokyo Stock Exchange.The fire broke out around 11:30 a.m. on April 19 and was extinguished by about 4:00 p.m., with no injuries reported. The company said the exhaust gas treatment facility was affected.

TYO:4028

Asia60d ago

National Standards (India) CFO Resigns; Successor Named

National Standards (India) (BOM:504882) Chief Financial Officer Rameshchandra Chechani has resigned, effective April 17, citing personal reasons, according to a same-day filing on the BSE.Shares of the company rose over 1% in recent trade.The company appointed Rohit Singhvi as its new CFO.Singhvi is currently associated with Lodha Group. He previously held leadership roles at Cable Corporation of India and Man Industries (India), the filing said.

BOM:504882

Showing 38741-38760 of 43883

Asia Markets60d ago

US Equity Investors to Focus on Geopolitical Risk While Earnings Season Gathers Momentum

Dow JonesNasdaq CompositeS&P 500$AXP$BA$GEV$IBM$INTC$LRCX$SAP$TXN$UNH