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Market Chatter: Nippon Steel Launches Electric Arc Furnace Project to Cut Emissions

Nippon Steel (TYO:5401) has broken ground on an electric arc furnace at its Yawata facility in Kyushu, Nikkei Asia reported on Thursday.The 630.2 billion yen or $3.96 billion project, roughly 30% funded by government subsidies, will include a two-million-ton annual capacity furnace, a steel sheet plant, and on-site power generation, the publication said.Despite the promise of cleaner production, uncertainties remain regarding the technology's substantial electricity consumption and the market's willingness to pay a premium for low-emission steel, the news daily said.Scheduled to begin operations in the second half of fiscal 2029, the furnace represents a major shift for the 125-year-old Yawata steelworks, 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:5401

Asia99d ago

Market Chatter: Japanese Banks Expand Overseas Payment Services to Support Global Operations of Domestic Firms

Japan's major banks are strengthening cross-border payment services to support the global operations of domestic firms, Nikkei Asia reported on Thursday.Mitsubishi UFJ Financial's (TYO:8306) MUFG Bank launched MUFG Unity for instant remittances in four Southeast Asian countries, allowing corporate clients to settle directly with local partners without opening foreign accounts, the publication said.Sumitomo Mitsui Financial's (TYO:8316) Sumitomo Mitsui Banking aims to accumulate $60 billion in foreign currency deposits within three years and plans to launch its SMBC Connect payment brand soon, the news agency said.Mizuho Financial's (TYO:8411) Mizuho Bank is expanding its Asian transaction banking team to 180 specialists and acquiring Avendus Capital to tap into non-Japanese client demand, the report said.With foreign-currency loans surging 160% since 2010 to $926 billion, Japanese banks are prioritizing dollar procurement amid geopolitical uncertainty and past low domestic interest rates, it added.(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:8306TYO:8316TYO:8411

Asia99d ago

ASX Preview: Australian Shares to Open Flat as Trump Signals Optimism on Iran Deal Talks; Viva Energy Group Refinery in Geelong on Fire

Australian shares are expected to open flat on Thursday as markets weighed renewed optimism from the Trump administration over a possible Iran deal against escalating threats of tighter sanctions on Iranian oil buyers and ongoing disruptions to shipping through the Strait of Hormuz.Overnight, the S&P 500 and the Nasdaq Composite rose 0.8% and 1.6%, respectively, while the Dow Jones Industrial Average fell 0.2%.In the macroeconomy, Australia's labor force report is due at 11:30 am Sydney time.In corporate news, A fire erupted at Viva Energy Group's (ASX:VEA) oil refinery in Geelong overnight, and firefighters are still working to bring it under control, multiple media outlets reported Thursday.Rio Tinto Group (ASX:RIO) commissioned a new alumina conveyor at its BC Works smelter in Kitimat, Canada, the company said on Thursday.Australia's benchmark index rose 0.1% or 7.9 points to close at 8,978.70 on Wednesday.

ASX 200ASX:RIOASX:VEA

Asia99d ago

Catalyst Metals Completes Grade Control Drilling at Western Australia Deposit

Catalyst Metals (ASX:CYL) said it has completed grade control drilling for the first 15 months of underground production at its Trident underground deposit in the Plutonic Gold Belt, Western Australia, according to a Thursday Australian bourse filing.The results were up to 17 meters at 42.7 grams per tonne (g/t) gold and nine meters at 17 g/t gold.The company said the soon-to-be-completed open pit at the Trident gold deposit brings closer a step change in Plutonic's annual gold production to about 200,000 ounces from roughly 100,000 ounces, with underground gold production from Trident forecast to commence in 2027.Catalyst Metals said Trident underground reserves stand at 397,000 ounces at 5 g/t gold and resources at 795,000 ounces at 5.3 g/t, with an anticipated annual production rate of about 60,000 ounces for about 10 years.The company has now developed three mines on the Plutonic Belt, including Plutonic East, the Trident open pit, and K2, with Trident underground set to become the fourth.

ASX:CYL

Asia99d ago

SoftBank Group to Issue US Dollar-, Euro-Denominated Bonds Totalling 566.8 Billion Yen

SoftBank Group (TYO:9984) will issue six tranches of foreign currency-denominated senior notes totalling 566.8 billion yen or $3.25 billion to redeem existing foreign currency debt and to partially repay the outstanding amount of the bridge loan related to follow-on investments in OpenAI.The U.S. dollar-denominated bonds amount to 238.5 billion yen or $1.5 billion with maturities in 2029, 2031, and 2036 and interest rates of 7.625%, 8.250% and 8.500%, respectively, according to a filing with the Singapore Exchange on Thursday.The euro-denominated notes amount to 328.3 billion yen or $1.75 billion with maturities in 2030, 2032, and 2034 and respective interest rates of 6.375%, 7.000% and 7.375%.All notes will be issued at 100% of principal, pay interest semi-annually, and allow early redemption 90 days before maturity.The offering is targeted at institutional investors outside Japan and the U.S., with no collateral or guarantee. The notes will be listed on the Singapore Exchange.

TYO:9984

Asia99d ago

AMP Says Q1 Platforms Net Cashflows Rise 45%, Starts AU$150 Million Buyback

AMP (ASX:AMP) said platform net cashflows for the first quarte rose 45% to AU$1.1 billion from AU$740 million in the same period a year earlier, according to a Thursday Australian bourse filing.The company said superannuation and investments net cash outflows improved 26% to AU$80 million from AU$108 million in the prior corresponding period, while total assets under management across its wealth businesses stood at AU$155.9 billion, with the AMP Bank total loan book steady at AU$24.1 billion.AMP said AMP Bank GO deposits rose AU$632 million from the fourth quarter of 2025 to AU$942 million, with full-year 2026 GO deposits now expected to exceed AU$1.5 billion, while all other guidance remains unchanged and subject to market conditions.The company said its previously disclosed AU$150 million on-market share buyback is now commencing.

ASX:AMP

Research99d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of Coherent Corp.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our price target from $246 to $357, 41x our CY 2027 EPS view ($8.70), well above COHR's three-year average (~20x) given substantial AI demand and above our prior view (31x) on emerging upside in co-packaged optics (CPO). We keep our FY 26 (Jun.) EPS view at $5.61, lift FY 27's by $0.63 to $7.58, and initiate FY 28's at $9.60. Our price target increase primarily reflects growing NVDA-driven momentum around CPO in recent weeks. On March 2, NVDA announced a $2B equity investment in COHR alongside a multibillion-dollar, multiyear purchase commitment revolving around CPO/silicon photonics innovation. At GTC 2026 in mid-March, NVDA also provided a view of future computing platforms that would be much more CPO-heavy relative to copper, with CPO set to be used (rather than copper) for a portion of interconnects on the Rubin Ultra platform (2027) and 100% of utilization in Feynman (2028) vs. 0% in the Blackwell/Rubin architectures. We see massive upside here, with sales starting to roll in by CYE 2026.

$COHR

Asia99d ago

Rio Tinto Commissions New Alumina Conveyor at Canada Smelter

Rio Tinto Group (ASX:RIO) commissioned a new alumina conveyor at its BC Works smelter in Kitimat, Canada, the company said Thursday.The 1.1-kilometer system will transport about 800,000 tonnes of alumina per year, and is designed for an operational life of 50 years.The new conveyor is more environmentally friendly than previous infrastructure and supports more efficient material handling, the company said.

ASX:RIO

Asia99d ago

Nine Entertainment Secures Five-Year Netball Broadcasting Rights Deal

Nine Entertainment (ASX:NEC) has signed a new five-year partnership with Netball Australia, securing broadcast and streaming rights to Suncorp Super Netball, all Australian Diamonds matches, and the Netball World Cup Sydney 2027 from Jan. 1, 2027, according to a Thursday statement."We're building a portfolio around the sports Australians care most deeply about, and netball belongs in that company," said Nine Entertainment's Managing Director, Streaming and Broadcast, Amanda Laing.

ASX:NEC

Asia99d ago

Sovereign Metals Says DFS Confirms Large-Scale Potential at Malawi Rutile-Graphite Project

Sovereign Metals (ASX:SVM) said a Definitive Feasibility Study (DFS) for its Kasiya rutile-graphite project in Malawi confirms steady-state annual earnings before interest, tax, depreciation, and amortization of $476 million and free cash flow of $452 million, according to a Thursday Australian bourse filing.The company said the study found total revenue of $16.2 billion over an initial 25-year mine life, with a pre-tax net present value (NPV) of $2.2 billion, an NPV to capital expenditure ratio of 3.0 times, and capital expenditure to first production of $727 million.Sovereign Metals said operating costs of $450 per tonne of product on a free-on-board basis at Nacala underpin margin resilience across commodity cycles.The company said monazite concentrate recovered from the rutile processing circuit contains elevated levels of the heavy rare earths dysprosium, terbium, and yttrium, representing a potential third revenue stream at minimal incremental cost, with all three elements currently subject to Chinese export restrictions.Sovereign Metals said the heavy rare earth potential of the project was not included in the DFS, with evaluation currently underway.

ASX:SVM

Asia99d ago

29Metals Delays Xantho Extended Restart Amid Geotechnical Works

29Metals (ASX:29M) said the restart of mining at its Xantho Extended orebody in Western Australia has been delayed by extra geotechnical works, cutting zinc, gold and silver forecasts while leaving copper guidance unchanged, according to a Thursday Australian bourse filing.The company stated that ground support upgrades needed to re-enter the decline and production levels are still on schedule for completion in April, although additional work is now underway following revised geotechnical assessments of the impacted areas, per the filing.The company will develop alternative level access to reduce exposure to higher-stress zones, due for completion in the December quarter, while continuing mining and milling from other ore sources with no change to full-year copper production guidance, the filing said.The company has cut its full-year outlook for other metals, with zinc now expected at 5,000 to 25,000 tonnes compared with 40,000 to 50,000 tonnes previously, gold at 6,000 to 14,000 ounces compared with 12,000 to 20,000 ounces, and silver at 400,000 to 600,000 ounces compared with 600,000 to 800,000 ounces.The company also lowered its selling costs guidance to AU$20 million to AU$45 million from AU$50 million to AU$70 million, reflecting the changed production mix, the filing added.

ASX:29M

Asia99d ago

Australian Ethical Investment Reports Higher Fiscal Q3 Funds Under Management

Australian Ethical Investment (ASX:AEF) reported AU$13.57 billion of funds under management (FUM) as of the close of its fiscal third quarter ended March 31, according to a Thursday filing with the Australian bourse.The company previously reported FUM of AU$13.1 billion at the end of the year-ago quarter, an earlier filing showed.Investments FUM for the period fell year over year to AU$3.91 billion from AU$4.17 billion, while superannuation FUM increased to AU$9.66 billion from AU$8.92 billion.

ASX:AEF

Research99d ago

Research Alert: CFRA Maintains A Buy Rating On Godaddy Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price to $110 from $120, reflecting a more cautious outlook on near-term bookings momentum. We maintain our 2026 and 2027 EPS estimates of $7.08 and $8.10, respectively. Our target price reflects a multiple well below GDDY's three-year historical average, appropriately discounting headwinds from decelerating bookings, AI-driven competitive pressures, and ongoing customer migration toward social media platforms. However, we believe the company has responded effectively, with its GenAI tool Airo demonstrating success in enhancing cross-selling and improving retention rates. We view the recent sell-off as an overreaction to AI concerns, particularly given GDDY's dominant market position and 82M+ domain base, which provides a substantial foundation for monetizing new AI-driven products. The company's strategic shift toward higher-value customers should support margin expansion over time.

$GDDY

Asia99d ago

Whitehaven Coal Prices $900 Million Offering of Senior Secured Notes

Whitehaven Coal (ASX:WHC) priced a $900 million offering of senior secured notes in a dual-tranche offering to eligible buyers, according to a Thursday filing with the Australian bourse.One tranche of $450 million carries a maturity of 5.5 years and a coupon rate of 6.25%, while the second $450 million tranche has an 8-year maturity and a coupon of 6.75%, per the filing.Whitehaven said it plans to use the proceeds to repay dues under its $1.1 billion acquisition term loan facility and for general corporate purposes.The notes are expected to settle on April 22.

ASX:WHC

Asia99d ago

Telix Enters Attractive Market With Late-Stage Brain Cancer Drug Trial in US, Jefferies Says

Telix (ASX:TLX) entered a potentially attractive market after the commencement of phase three trial for recurrent glioblastoma, a type of brain cancer, in the US, Jefferies said in a note on Wednesday.The investment firm said that with around 20,000 patients diagnosed annually in the US with recurrent glioblastoma and limited treatment options, the market appears promising for its drug candidate TLX101-Tx.Jefferies, however, gave a risk-weighted valuation to the experimental drug in Telix's overall valuation.The brokerage boosted Telix's fiscal year 2026 net profit after tax estimate to $5.1 million from $3.3 million, driven by the inclusion of TLX101-Tx in its valuation, with first sales expected in fiscal year 2029, refinancing of $600 million in convertible bonds, and changes to assumptions for expenses and costs.Jefferies kept a buy rating on Telix and raised its price target to AU$27.40 from AU$24.30.

ASX:TLX

Asia99d ago

Ansell CFO Resigns

Ansell (ASX:ANN) said Chief Financial Officer Brian Montgomery resigned to join US-based medical technology company, Hologic, according to a Thursday filing with the Australian bourse.Vice President Fred Marx will be the acting CFO while the company looks for Montgomery's permanent successor, the filing said.

ASX:ANN

Research99d ago

Research Alert: CFRA Maintains Buy Opinion On Shares Of Advanced Energy Industries

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our target to $415 from $362, 38x our revised 2027 EPS ($10.92, up from $10.65; 2026 maintained at $8.56), reflecting our belief it should trade more in line with AI-exposed peers (35x-45x) than industrial automation peers (22x-27x), as AEIS is well positioned to benefit from demand for AI infrastructure and data center power solutions. In our view, earnings are poised to accelerate in 2027 as AEIS gains traction in the higher-margin Data Center Computing segment throughout this year. The company has expanded its hyperscaler customer base, with a second wave of major cloud providers now adopting AEIS solutions. We believe this broadening customer footprint, combined with the production ramp of design wins, positions the Data Center segment to sustain elevated growth rates while driving favorable product mix shifts. Additionally, the Thailand manufacturing facility is delivering productivity improvements, while next-generation semiconductor products are providing volume production with premium pricing.

$AEIS

Asia99d ago

Strike Energy Starts Drilling at Exploration Well in Western Australia

Strike Energy (ASX:STX) commenced drilling at its Walyering West-1 exploration well under its L23 production license in Western Australia's Perth Basin, according to a Thursday filing with the Australian bourse.The well is drilling ahead at 1,006 meters measured depth rotary table (MDRT). Drilling operations are expected to take roughly 20 days and return preliminary results early in May, per the filing.Walyering West-1 is targeting sandstone reservoirs within the Cattamarra Coal Measures formation, with the aim of evaluating gas and condensate potential, the company said.

ASX:STX

Asia99d ago

PLS Group Raises $600 Million in Upsized Senior Notes Offering

PLS Group (ASX:PLS) has successfully priced a $600 million offering of 6.875% senior notes due 2031, increased from an initially planned $500 million, targeting qualified institutional buyers and offshore investors, according to a Thursday filing with the Australian bourse.The notes are scheduled to settle in New York on April 22 and will carry a 6.875% semi-annual interest rate, with the first payment due on Nov. 1, per the filing.The proceeds will be used partly to refinance AU$375 million drawn from its AU$1 billion revolving credit facility, with the balance directed toward general corporate purposes, the filing said.The company will reduce the size of its revolving credit facility from AU$1 billion to AU$500 million, concurrently with the successful closing of the notes offering, the filing added.

ASX:PLS

Asia99d ago

Pmet Resources Partners With Koch Technology Solutions to Advance Cesium Chemical Production at Canada Project

Pmet Resources (ASX:PMT) launched a strategic test work program with Koch Technology Solutions, a division of Koch, to evaluate advanced processing methods for producing high-value cesium chemicals from pollucite concentrates at its Shaakichiuwaanaan Project in Quebec, Canada, according to a Thursday statement from the company.The company said the project contains one of the world's largest known in-situ pollucite-hosted cesium resources, particularly at the CV13 pegmatite, where high-grade mineralization remains open and extensive.The upcoming four-month program will focus on developing practical processing methods for cesium compounds using Koch's expertise in critical minerals technologies, with potential applications in oil and gas, catalysts, pharmaceuticals, and advanced solar panels.The company said it will continue exploration at the CV13 pegmatite under the drill campaign, with an updated cesium resource estimate expected in the second half of the year.

ASX:PMT

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