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Unicomp to Buy Controlling Stake in Shanghai Semiconductor Testing Firm

Unicomp Technology (SHA:688531) plans to acquire a controlling interest in semiconductor testing and research firm, Shanghai Feilai Testing Technology, according to a Shanghai bourse filing on Wednesday.The transaction, which is currently in the planning stage, will be made through share placement and cash.Trading of the Chinese X-ray inspection equipment manufacturer's shares was suspended starting Wednesday, and the suspension is expected to run up to ten trading days.

SHA:688531

Oil & Energy99d ago

EMEA Natural Gas Update: Futures Slide Amid Growing Optimism on 2nd Round of US-Iran Peace Talks

European natural gas futures were down on Wednesday, as optimism continued to build around a potential second round of US-Iran talks in the coming days, aimed at a diplomatic resolution to the ongoing military conflict.The front-month Dutch TTF contract was down 1.69% to 42.63 euros ($50.24) per megawatt-hour, while UK NBP futures dropped 1.84% to 106.75 British pence ($1.43) per therm.Speaking to Fox News on Tuesday, US President Donald Trump said that he views the war as being "very close to over," while adding that Tehran wants to make a deal "very badly."Earlier in the day, Trump told the New York Post that the second round of US-Iran peace talks "could be happening over [the] next two days" in Pakistan's capital city.Meanwhile, Admiral Brad Cooper, commander of US Centcom, has said that the naval blockade against Iran is now fully in effect, with US forces having "completely halted economic trade going into and out of Iran by sea," which he said accounts for 90% of the country's international trade.The Strait of Hormuz saw a big uptick in traffic, with 17 vessels transiting through it over the past 24 hours, according to the Hormuz Strait Monitor.Asian LNG buyers, which had emerged as key competitors to Europe amid Middle East disruptions, have seen imports drop to their lowest levels since 2020, ANZ senior commodity strategist Daniel Hynes said.Hynes noted that Gail India and Indian Oil Corp haven't awarded any tenders for spot purchases of gas for April and May, while China's gas imports similarly fell in March.These developments bode well for European markets as they step into the refilling season with significantly depleted inventories, at just 29.55% of capacity, compared to 35.62% during the corresponding period a year ago, according to Gas Infrastructure Europe.Weather forecasts, too, have turned bearish, with most parts of Europe projected to experience above-normal temperatures during the Summer, according to Severe Weather EU.

Asia99d ago

Eimco Elecon (India) Net Profit Declines in Fiscal Q4; Shares Plummet 8%

Eimco Elecon (India) (NSE:EIMCOELECO, BOM:523708) net profit fell sharply to 63.6 million Indian rupees in the fiscal fourth quarter from 148.7 million rupees a year ago, according to an Indian bourse filing on Tuesday.Shares of the company plunged over 8% in Wednesday's trade.Earnings per share for the quarter ended March 31 plunged to 11.03 rupees from 25.78 rupees a year earlier.The mining and construction equipment company's revenue from operations rose year on year to 668.8 million rupees from 642.9 million rupees, the filing said.Eimco Elecon's board recommended a final dividend of 4 rupees per share for fiscal 2026 ended March 31.

BOM:523708NSE:EIMCOELECO

Asia99d ago

Market Chatter: China to Hold Meeting on Ultra-Long Special Treasury Bond Plan

The Chinese Finance Ministry will meet with government bond underwriters on Thursday regarding the issuance of ultra-long special treasury bonds in 2026, the report said."I expect special treasury bonds will be mentioned - it's about time and ⁠will spare everyone the daily guessing," Reuters quoted one of the sources as saying.Markets are speculating that the government will allocate a smaller portion for 30-year special treasury bonds, according to the newswire.The foreseen allocation has driven yields on the 30-year bonds lower to 2.27%, according to Reuters.(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.)

Shanghai Composite^SZSE

Asia99d ago

Three Stars New Materials Appoints Chairman

Zhejiang Three Stars New Materials (SHA:603578) appointed Jin Shangshang chairman, according to a Shanghai bourse filing on Wednesday.Jin will take over from Tong Xiaofei, who has resigned.

SHA:603578

Asia99d ago

Umiya Mobile Opens Five New Retail Stores in India

Multi-brand gadget retailer Umiya Mobile (BOM:544464) has opened five new retail stores in India on Wednesday, according to a same-day disclosure to the BSE.The company opened four stores in Maharashtra and one in Gujarat.Umiya's shares were up over 2% in recent trade.

BOM:544464

Asia99d ago

Jinneng Science & Technology's Vice Chairman Resigns

Jinneng Science & Technology's (SHA:603113) vice chairman, Liu Hongwei, resigned, according to a Shanghai bourse filing on Wednesday.Liu will continue to serve the company as deputy general manager.Meanwhile, the company appointed Wang Zhongxia as general manager, taking over from Gu Wenbin, who resigned from the post but will continue to serve in other positions.The coal chemical products manufacturer's shares dipped over 4% at the close.

SHA:603113

Oil & Energy99d ago

EMEA Oil Update: Crude Ticks Up Despite Hopes for 2nd Round of Peace Talks

Crude futures contract edged higher on Wednesday, after dropping sharply in the previous session, as traders weighed fresh diplomatic signals against the Strait of Hormuz blockade.The front-month Murban crude contract added 0.8% at $101.62 per barrel. Brent futures contract was up 0.3% at $95.08/bbl.Energy markets have shown signs of stabilizing following a volatile period, as ANZ analysts noted that reports of a second round of US-Iran peace talks helped temper earlier spikes.Sentiment was bolstered by reports that Iran may pause shipments to avoid naval confrontation, potentially clearing a path for renewed talks before the April 22 ceasefire expires, analysts said.These discussions, aimed at extending the current ceasefire, are expected to take place in Islamabad over the coming days.Market sentiment was buoyed by comments from President Donald Trump, who stated in a Fox Business interview that the war is "very close to being over," SEB analysts said.The president highlighted these remarks on Truth Social, which SEB analysts suggested has led markets to price in a potential de-escalation.Meanwhile, Saxo Bank analysts noted that Brent falling below the $100 threshold reflects growing optimism.

Asia99d ago

Diamond Power Gets Letter of Intent for INR455 Million Order

Diamond Power Infrastructure (NSE:DIACABS, BOM:522163) has received a letter of intent for an order worth 454.7 million Indian rupees from Adani Electricity Mumbai, according to a Wednesday filing to the Indian stock exchanges.The contract is for the supply of cables for one year, starting May 2026 until May 2027.The company's shares were up over 2% in recent trade.

BOM:522163NSE:DIACABS

Asia99d ago

Saboo Sodium Arm Acquires Additional Land in Udaipur, India for Hospitality Project; Shares Up 4%

Samskara Resorts, a wholly-owned subsidiary of Saboo Sodium Chloro (BOM:530461), has acquired a 6,070 square meters of land in Udaipur, India, according to a BSE filing on Wednesday.The acquired land is adjoining to the earlier acquired parcel of 23,300 square meters for Samskara Udaipur, taking its total landholding for the project to 29,370 square meters to develop a large site for a luxury hospitality project.The company is developing Samskara Udaipur as a palace-style luxury hotel project with up to 350 rooms.This is the company's fourth land acquisition in the past 12 months.Saboo Sodium's shares were up nearly 4% in recent trade.

BOM:530461

Asia99d ago

Shanxi Meijin Energy Says Roof Collapse Kills One Person at Dongyu Coal Mine

Shanxi Meijin Energy (SHE:000723) said a roof fall accident at subsidiary Dongyu Coal Industry killed one personnel.The April 11 incident is not expected to have a material adverse impact on production and operations, according to a Wednesday filing with the Shenzhen bourse.Shares of the coking coal producer rose 2% in recent trade.

SHE:000723

Asia99d ago

South Korea's Kospi Closes Near 6,100 Points on Renewed Hopes of US-Iran Talks, Possible End to Middle East Confict

South Korean shares closed sharply higher on Wednesday on hopes of renewed Washington-Tehran talks after initial negotiations failed in Islamabad last week.Investor optimism picked up after US President Donald Trump on Tuesday said fresh peace talks could take place over the "next two days." However, Iran's state news agency IRNA reported that there was "no information" about further talks with the US.The Korea Composite Stock Price Index or Kospi rose 123.64 points, or 2.07%, to end at 6,091.39. The Kosdaq also increased by 30.55 points, or 2.7%, to close at 1,152.43.In economic news, the seasonally adjusted unemployment rate in South Korea in March edged down to 2.7% from 2.9% in February, data from Statistics Korea indicated Wednesday.On an annual basis, the unemployment rate fell to 3.0% from 3.4%.In other economic news, South Korea's export prices rose 28.7% year-over-year in March, while import prices gained 18.4%, according to preliminary data from the Bank of Korea released on Wednesday.On a month-on-month basis, the export price index and the import price index increased 16.3% and 16.1%, respectively.The net barter terms of trade index gained 22.8% on-year during the month.In corporate news, Samsung Electronics (KRX:005930) launched new TV models for this year, which are equipped with key AI features.The 2026 lineup includes TVs such as the Micro RGB, OLED, Neo QLED, Mini LED, and UHD, alongside lifestyle TVs (The Frame Pro, The Frame), portable "Moving Style" screens, Music Studio 5/7 Wi-Fi speakers, and Q Series all-in-one soundbars.The TV lineup incorporates AI service platforms, including Bixby, Perplexity, and Microsoft Copilot.Shares of the company rose more than 2% at market close.

^KOSDAQKOSPIKRX:005930

Asia99d ago

Qixiang Tengda Chemical Signs Cooperation Deal With Bluesail Medical

Zibo Qixiang Tengda Chemical (SHE:002408) signed a cooperation agreement with Bluesail Medical, according to a Shenzhen bourse filing on Wednesday.The petrochemical company will prioritize supplying carboxylated nitrile latex to Bluesail. Both companies agreed to potentially set up companies, platforms or research and development centers.Qixiang Tengda Chemical's shares fell less than 2% at the close.

SHE:002408

Asia99d ago

Dian Tou Energy to Sign Financial Services Deal With SPIC Finance

Inner Mongolia Dian Tou Energy (SHE:002128) plans to sign a financial services agreement with SPIC Finance, according to a Wednesday filing on the Shenzhen bourse.SPIC Finance will provide financial services to the company.The company's deposit balance and credit business scale will not exceed 10 billion yuan each.The Chinese coal products maker's shares jumped less than 4% at the close.

SHE:002128

Asia99d ago

Market Chatter: Philippines Central Bank Rolls Out Debt Relief Package Amid Energy Crisis

Bangko Sentral ng Pilipinas has approved measures allowing banks to give borrowers more time to repay loans as part of efforts to cushion the impact of the ongoing energy crisis on households and businesses, Reuters reported Wednesday.The package includes grace periods of up to six months, and as long as one year for agricultural loans, while allowing banks to temporarily avoid classifying restructured loans as non-performing, reportedly.The central bank said banks should apply the measures carefully and only help borrowers whose ability to repay has been affected by higher fuel costs and economic disruption. It also urged banks to suspend certain digital transaction fees, the news agency 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.)

^PSEI

Asia99d ago

China to Introduce New Credit Support Measures for Businesses

China will introduce new measures to provide credit support for commercial development, Xinhua News Agency reported Tuesday.The measures issued by the Commerce Ministry and the Export-Import Bank of China will help promote trade development, boost two-way investment, and improve cooperation with members of China's Belt and Road Initiative, the report said.China will use credit tools to explore new markets and improve services, while the country will also help attract foreign capital, among other measures, the report said.

Shanghai Composite^SZSE

Asia99d ago

NEVs Dominate Shanghai Auto Exports in Q1

More than 400,000 new energy vehicles were shipped through Shanghai ports in the first quarter, nearly 70% of total auto exports, according to data from Shanghai Customs.Waigaoqiao port shipped 386,000 vehicles, up 16% year on year, with NEVs comprising 69%.Nangang wharf logged a 111% jump to 207,000 units, with NEV exports surging 176%.

Shanghai Composite^SZSE

Asia99d ago

Dian Tou Energy to Set Up Joint Venture With Alxa League Infrastructure Construction Investment

Inner Mongolia Dian Tou Energy (SHE:002128) partnered with Alxa League Infrastructure Construction Investment and Operation to establish a joint venture, according to a Wednesday filing on the Shenzhen bourse.The joint venture, Ejina Banner DianTou New Energy, will have a registered capital of 80 million yuan and will help accelerate the development and construction of the State Power Investment Ejina Banner Wentugaole 100-megawatt wind power project.Dian Tou Energy will own 90% of the venture, while Alxa League will hold the remaining 10%.The Chinese coal products maker's shares jumped less than 4% at the close.

SHE:002128

Asia99d ago

Chinese Auto Industry Veteran Gets 13-Year Jail Term for Bribery

A court in Henan, China, sentenced former China South Industries Group Corp. deputy general manager Liu Weidong to 13 years in prison for bribery, Xinhua News Agency reported Tuesday.The court also fined Liu 4 million yuan, the report said.Liu, an auto industry veteran, took more than 41.4 million yuan in bribes from 1999 to 2025 while being deputy general manager at Dongfeng Motor (HKG:0489) and China Changan Automobile, according to the report.

Shanghai Composite^SZSEHKG:0489

Commodities99d ago

Asia Biofuels Update: Malaysian Palm Oil Futures Ease on Negative Demand Sentiment

Malaysian palm oil futures were steady to lower on Wednesday, as a potential weakening in biofuels demand following a recent drop in crude oil prices weighed on sentiment.The Bursa Malaysia Derivatives' May crude palm oil contract was flat at 4,420 Malaysian ringgit ($1,118.99) per metric ton in midday trade. The June contract slipped 0.13% to 4,460 ringgit/mt. Both contracts touched five-month lows earlier in the session."International crude oil prices are weakening, and the economic foundation for palm-oil producing countries to implement biofuel policies is being undermined," price reporting agency MySteel said.To help ensure a stable supply of diesel, the Malaysian government on Tuesday reportedly agreed to increase its biodiesel mandate to 15% from the current 10%, with phased implementation to start with a 12% blend using existing biodiesel plants, according to multiple media outlets.The country is currently mandating a 10% biodiesel blend for the transportation sector, and has introduced a 20% blend in few provinces.Malaysia's move followed Indonesia's plan to raise its biodiesel mandate to 50% from the current 40% beginning July 1, and Thailand's decision to increase blending ratio to 7% from the current 5%.Thailand has also tightened export controls for palm oil to boost domestic supply.However, "Thailand's policy of restricting palm oil exports has already shown adverse effects, reflecting the possibility that expectations of tightening future palm oil supply may diminish as crude oil prices weaken," MySteel said.In Malaysia, the reference price for palm oil was raised to $4,521.89 ringgit/mt in May from 3,935.19 ringgit/mt in April, despite recent declines in futures. Export duty correspondingly increased to 10% from 9.5%.This could weigh on Malaysian export demand, which has so far shown a 30.7% to 38.9% month-over-month drop during the first 10 days of April, according to cargo surveyor estimates.A possible increase in Indian purchases as buyers stock up ahead of seasonal demand could provide some upside.Indian buyers reportedly cut their palm oil purchases last month due to high prices, with imports dropping to a three-month low of 689,462 metric tons in March, from 847,689 mt in February, according to the Solvent Extractors' Association of India.

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Commodities99d ago