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Hong Lai Huat Buys Back, Cancels Shares

Hong Lai Huat (SGX:CTO) bought back and canceled 203,200 shares worth SG$18,142 or SG$0.089 apiece on Monday, according to a same-day filing with the Singapore Exchange.The property developer has so far repurchased around 31.1 million shares under its existing buyback mandate.

SGX:CTO

Sectors99d ago

Crude Oil Prices Jump After U.S. Announced Strait of Hormuz Blockade, Lack of Ceasefire Deal

Crude oil prices surged on Monday after the U.S. announced it will start a blockade of the Strait of Hormuz, which followed a failure to reach a ceasefire deal with Iran.Brent crude at last look jumped 7.7% to US$102.54/barrel and West Texas Intermediate crude rose 8.2% to $104.44/barrel. This comes after U.S. President Donald Trump said the U.S. Navy is preparing to block ships to and from Iran via the Strait of Hormuz, which could restrict Iranian oil exports, Reuters said in a Monday report.Iran's Revolutionary Guard said any military vessels attempting to approach the strait would be considered a violation of the ceasefire and will be dealt with, the report said."The announced U.S. blockade marks an admission that the ceasefire's central premise - at least as interpreted by the U.S. - which was the reopening of the Strait, is untenable for now," Nordic bank SEB analyst Erik Meyersson was quoted as saying by Reuters.

$CLX1$LCOX1$USO

Treasury99d ago

SocGen's Overnight Economic News Summary

Societe Generale in its early Monday economic news summary pointed out:-- Risk off, Brent rises 7% to US$102/barrel, natural gas adds 8.4% to EUR47.3/MWh, Euro Stoxx futures down 1.4%, DXY bid above 99.0. The United States Navy will start blocking all vessel traffic entering and exiting Iranian ports at 10 a.m. CET on Monday after peace negotiations end without agreement. WSJ: U.S. open to resuming limited military strikes. Iran cites excessive U.S. demands on the Strait of Hormuz and nuclear program.ECB call change: SocGen forecasts first European Central Bank rate increase in June, second hike in September on higher core inflation.'Orbanexit': Peter Magyar's Tisza wins supermajority in Hungary's parliament, defeating Prime Minister Viktor Orban. EUR/HUF gaps down, trades through 2023 low to 367.12. Result will unblock 90 billion euros emergency financial and military support package for Ukraine for 2026 and 2027, loan is financed by common European Union debt, adds bear steepening influence for eurozone government bonds.CFTC foreign exchange positioning: Euro (EUR) flips to net short 0.97% of OI (first since March 2025), yen (JPY) shorts raised to 26.8%, sterling (GBP) shorts upped to 23.1%, Australian dollar (AUD) longs trimmed to 26.8%, Canadian dollar (CAD or loonie) longs reduced to 8.7%, Mexico's peso (MXN) longs steady at 31.4%, Nymex longs dip to 9.9%.Week ahead: Kevin Warsh Federal Reserve chair confirmation hearing delayed. U.S. producer price, industrial production (IP), Philly Fed business outlook, Fed Beige Book. Eurozone final consumer price index, IP. United Kingdom February gross domestic product. China Q1 GDP. Romania CPI. International Monetary Fund WEO update on Tuesday.Nikkei -0.7%, EUR 10-year IRS +2.5bps at 3.11%, Brent crude up 7% at US$102/barrel, Gold -0.6% at $4,720/oz.

$AUD$CAD$CXY$EUR$GBP$JPY$MXN$EUR/HUF

Asia99d ago

S&P Sees Divergence in Asian Tech Firms' Cost Absorption Ability Amid Middle East Conflict

The Middle East conflict reveals gaps in the capacity of Asian technology companies to buffer against increased costs, S&P Global Ratings said in a Monday release.The rating agency considers high-end chip producers as faring well when increasing prices, backed by favorable demand and solid investment in AI data centers.However, consumer electronics have the weakest ability to pass through costs, while electronics manufacturers would also be exposed to dampened demand under a protracted war, S&P said.In S&P's base-case scenario, under which the Strait of Hormuz's closure eases in April, its rated technology firms in the region have solid financial ability to cushion against the impacts, credit analyst Cathy Lai said.A prolonged conflict would hit larger tech firms' supply chain and impact electronic product makers' margins and demand, Lai said.Most producers, as well as logistics companies, will be vulnerable under disruption to power supply and some key raw materials, S&P said.Regions reliant on liquefied natural gas and oil imports from Qatar and other Middle Eastern countries house most advanced semiconductor manufacturers, with Taiwan being the most vulnerable, the rating agency said.For crucial raw materials, helium is the most susceptible given its use in semiconductor manufacturing, although S&P believes leading companies have ample helium inventory to offset near-term risk.Companies with solid supply chains and investment in the AI market will potentially retain their credit profiles, while those dependent on commoditized consumer segments will see greater pressure, Lai said.

ASX 200Hang SengNikkei 225Shanghai Composite^SZSE

Asia99d ago

Kohnan Shoji's Full-Year Profit Falls 14%

Kohnan Shoji's (TYO:7516) profit attributable to owners of the parent fell 14% to 12.3 billion yen for the fiscal year ended Feb. 28 from 14.2 billion yen a year earlier.The home improvement centre operator's earnings per share declined to 432.24 yen from 492.37 yen a year ago, according to a Tokyo bourse filing on Monday.Operating revenues jumped 3.7% to 519.8 billion yen from 501.4 billion yen in the prior year.It declared a final dividend of 65 yen per share, payable from May 29.For the fiscal year ending Feb. 28, 2027, the company expects attributable profit of 12.5 billion yen, basic EPS of 443.80 yen, and operating revenues of 543.5 billion yen.Kohnan Shoji plans to pay interim and year-end dividends of 70 yen per share, each, for the current year, which is higher than amounts paid in the year-ago period.

TYO:7516

Asia99d ago

StanChart Buys Back Shares

Standard Chartered (HKG:2888) bought back 154,326 shares on April 10 at an average price of 17.22 pounds sterling apiece, according to a Monday Hong Kong bourse filing.The British lender plans to cancel the shares, following which it will have about 2.23 billion shares in issue.

HKG:2888

Commodities99d ago

EU Not Facing Immediate Oil, Gas Supply Risks, But Headwinds to Jet Fuel Availability, Task Force Confirms

The European Commission's Energy Union Task Force Security on Friday confirmed that the region does not face any immediate oil and gas supply risks, although the availability of jet fuel remains a major concern.The Task Force met on Friday to review the energy security situation in the EU in the backdrop of the ongoing Middle East conflict, which has resulted in significant energy supply shocks.The Task Force reaffirmed the conclusion of the member state senior officials and the commission, who met earlier last week. The EU refineries were receiving a stable supply of crude oil and there was no immediate need for additional stock releases at the moment, according to a statement issued by the EC's Directorate-General for Energy."Nevertheless, prolonged disruptions in Middle East oil production and tanker traffic could pose longer-term risks. Jet fuel remains the primary concern, given that EU refineries cover around 70% of the EU's consumption, with the remainder reliant on imports," the statement added.The task force discussed the advantages of having an extended gas storage injection season as a means to prevent last-minute congestion and price spikes. They also appreciated a letter from Commissioner Dan Jorgensen to member countries urging them to use flexibility provisions under the Gas Storage Regulation and consider reaching the 80% storage target earlier in the filling season to provide greater market certainty."Finally, the Task Force welcomed and called for an acceleration of ongoing work to provide clear Commission recommendations on the implementation of EU Methane Regulation, with a focus on security of supply and legal certainty, notably with respect to penalties and compliance solutions, as agreed by Energy Ministers in December 2025," the statement added.The two-week ceasefire in the Iran war has helped stabilize energy prices, but the situation remains "volatile and uncertain" overall, the statement added.

Asia99d ago

Veerhealth Care Secures International Order for Personal Care Products

Veerhealth Care (BOM:511523) has received order worth $160,650 from an undisclosed New York-based entity for supply of personal care products, according to an Indian bourse filing on Saturday.Shares of the company rose 1% in Monday's trade.The order is to be executed within 45 days, the filing said.

BOM:511523

Asia99d ago

Hengrui Pharmaceuticals Unit Gets Approval for Heart Failure Drug Trial

Jiangsu Hengrui Pharmaceuticals (SHA:600276) subsidiary Chengdu Shengdi Pharmaceutical obtained China's regulatory approval to begin clinical trials for HRS-5765.The drug is used for treating heart failure, according to a filing with the Shanghai bourse.Shares of the pharmaceutical company closed 3% lower Monday.

SHA:600276

Asia99d ago

Orix to Absorb Tsukuba Lease, Plan Dissolution After Company Split

Orix (TYO:8591) said it will implement an absorption-type company split to transfer the business of subsidiary Tsukuba Lease to itself and Orix Auto, followed by the unit's dissolution and liquidation, according to a Monday filing on the Tokyo Stock Exchange.The split is aimed at improving operational efficiency and optimizing resource allocation within the group as it integrates Tsukuba Lease's operations.Under the plan, Orix and Orix Auto will take over Tsukuba Lease's lease and installment sales businesses, including associated assets, liabilities, and contractual rights, with the effective date scheduled for Aug. 1.The companies will pay consideration based on the book value of Tsukuba Lease's lease receivables and installment receivables as of July 31. Tsukuba Lease will be dissolved and liquidated after the split takes effect, while its business will continue under the successor companies.

TYO:8591

Asia99d ago

CCReB Advisors Partners with Kokopelli to Expand CRE Services

CCReB Advisors (TYO:276A) said it has entered into a business alliance with Kokopelli (TYO:4167) to expand services for regional financial institutions, according to a Monday filing on the Tokyo Stock Exchange.The partnership will integrate Kokopelli's BM Portal platform with CCReB Advisors' real estate matching system to enhance corporate real estate services and improve access for regional lenders and businesses.The companies aim to accelerate regional expansion of matching services and develop new business opportunities by leveraging their respective networks and technology platforms.

TYO:276ATYO:4167

Asia99d ago

Chinese Rare-Earth Companies Finish High on Increases in Q2 Prices

Chinese rare-earth companies saw spikes in their closing prices on Monday following an increase in their second-quarter product prices.Inner Mongolia Baotou Steel Union (SHA:600010) finished 5% higher, while China Northern Rare Earth Group High-Tech (SHA:600111) closed at 1% higher.The companies said their rare earth concentrates were priced at 38,804 yuan per ton, according to separate Saturday filings with the Shanghai bourse.The increases come as Beijing applied retaliatory export curbs following tariffs by U.S. President Donald Trump, according to a separate Bloomberg report Monday.

Shanghai Composite^SZSESHA:600010

Asia99d ago

Giftee Sees Limited Impact from Middle East Tensions on Operations

Giftee (TYO:4449) said the impact of the current situation in the Middle East on its business and financial results remains limited, according to a Monday filing on the Tokyo Stock Exchange.The company said its e-gift platform operations across Japan, ASEAN markets and the MENA region continue to be driven mainly by domestic demand, with no significant disruption reported.In the Middle East, where its subsidiary operates, giftee said business locations and employees remain safe and operations are continuing as normal.The company said prolonged geopolitical tensions could lead to higher crude oil prices and currency volatility, which may indirectly affect client performance and, in turn, its financial results.

TYO:4449

Equities99d ago

Bernstein Adjusts Price Target on Chevron to $216 From $194, Maintains Market Perform Rating

Chevron (CVX) has an average rating of overweight and mean price target of $210.08, 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://finwires.com/en/contact)

$CVX

Equities99d ago

Jefferies Adjusts Price Target on Chevron to $236 From $227, Maintains Buy Rating

$CVX

Equities99d ago

Bernstein Adjusts Price Target on Exxon Mobil to $195 From $159, Maintains Outperform Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $163.12, 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://finwires.com/en/contact)

$XOM

Asia99d ago

Nara Space Technology Wins KRW2 Billion Government Contract

Nara Space Technology (KOSDAQ:478340) secured a contract for a simulated satellite-ground control system from South Korea's Agency for Defense Development, according to a Monday filing with the Korea Exchange.ADD is a state-run institute dedicated to advancing South Korea's defense technologies.The contract, valued at 1.98 billion won, is valid till Aug. 31, 2028.Shares of Nara Space Technology jumped nearly 7% at market close.

KOSDAQ:478340

Asia99d ago

Npr-Riken Unit to Acquire Hastings to Expand Piston Ring Business

NPR-Riken (TYO:6209) said it will acquire all shares of Hastings Holding through its U.S. unit, aiming to strengthen its global piston ring business, according to a Monday filing on the Tokyo Stock Exchange.The acquisition will be carried out by Riken Corporation of America, making Hastings Holding a wholly owned subsidiary, the company said. Financial terms were not disclosed.Hastings Holding oversees manufacturing operations in the U.S. and Europe and owns the Hastings brand, which has a strong presence in the global piston ring aftermarket, particularly in North and Central America.NPR-RIKEN said the deal will complement its existing customer base and regional footprint, enhancing competitiveness and profitability through production and sourcing synergies.

TYO:6209

Research99d ago

HSBC Downgrades NIKE to Hold From Buy, Adjusts Price Target to $48 From $90

NIKE (NKE) has an average rating of overweight and mean price target of $61.18, 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://finwires.com/en/contact)

$NKE

Asia99d ago

Glp J-Reit Warns Investors of May Expiry for 2023 Distribution Claims

Glp J-Reit (TYO:3281) said the right to claim distributions for its fiscal period ended February 2023 will expire on May 18, according to a Monday filing on the Tokyo Stock Exchange.The trust said distribution claims lapse if unclaimed for three years from the payment start date, in line with its articles of incorporation.It added that distribution rights for the fiscal period ended August 2023 and subsequent periods will also expire after three years from their respective payment dates.

TYO:3281

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Commodities99d ago