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Nomura Adjusts Jindal Steel's Price Target to INR1,300 From INR1,350, Keeps at Buy

Jindal Steel (NSE:JINDALSTEL, BOM:532286) has an average rating of overweight and mean price target of 1,223.87 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://finwires.com/en/contact)

BOM:532286NSE:JINDALSTEL

Asia8d ago

Nomura Adjusts Lodha Developers' Price Target to INR1,280 From INR1,250, Keeps at Buy

Lodha Developers (NSE:LODHA, BOM:543287) has an average rating of buy and mean price target of 1,312.74 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://finwires.com/en/contact)

BOM:543287NSE:LODHA

Asia8d ago

Nomura Adjusts Bank of Baroda's Price Target to INR280 From INR300, Keeps at Neutral

Bank of Baroda (NSE:BANKBARODA, BOM:532134) has an average rating of overweight and mean price target of 297.74 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://finwires.com/en/contact)

BOM:532134NSE:BANKBARODA

Asia8d ago

Market Chatter: Chinese Humanoid Robot Maker DexForce Weighs Hong Kong IPO

Chinese robotics company DexForce Technology is considering an initial public offering in Hong Kong that could raise a few hundred million dollars, Bloomberg News reported, citing people familiar with the matter.The Shenzhen-based maker of humanoid robots and embodied AI technology has held preliminary discussions with potential advisers, though deliberations are ongoing and details, including the size of the offering, could change, the report said.DexForce did not immediately respond to' request for comment.(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.)

Hang Seng

Asia8d ago

Sunflower Pharmaceutical Withdraws Investment in Fund

Sunflower Pharmaceutical (SHE:002737) withdrew its 1-million-yuan investment in the Hangzhou Xiaochi Fund and will transfer its partnership share to an individual investor, according to a Tuesday filing with the Shenzhen bourse.The sale to individual investor Wu Mingxing will help the company focus on its core operations, improve its investment structure, and boost capital operations efficiency.

SHE:002737

Asia8d ago

Japanese Stocks Fall As Investors Turn Cautious on AI Investments Amid Chinese Competition

Japanese stocks fell, marking the worst global chip sell-off, as concerns over piling artificial intelligence investments and their sustainability fueled fears that growing competition from China could derail the AI infrastructure boom.The benchmark Nikkei 225 closed down 2,566.27 points, or 3.95%, at 62,364.92.Oil prices fell, and bonds gained over the temporary US-Iran ceasefire de-escalating hostilities and easing inflation pressure.On the corporate side, Otsuka Holdings (TYO:4578) has revised its forecast for first-half profit attributable to owners of the company to 215 billion yen, up 68% from 128 billion yen previously, according to a Tokyo bourse filing on Tuesday.Also, Hulic (TYO:3003) posted an 11% year-over-year increase in profit attributable to owners of the parent to 49.9 billion yen in the first half, up from 44.9 billion yen.

Nikkei 225TYO:3003TYO:4578

Asia8d ago

China Shares Fall on AI Circular Financing Fears; Xinyaqiang Silicon Chemistry Down 6%

Chinese shares fell on Tuesday as investor anxiety over artificial intelligence infrastructure financing triggered a broad selloff of technology stocks.The Shanghai Composite Index, the main gauge of Chinese stocks, closed 1.2% lower to 3,823.13. The Shenzhen Component Index dropped 4.5% to 13,509.68.The SSE STAR 50 Index (SSE:000688), the benchmark for the 50 largest science and technology companies on the Shanghai bourse, fell 6.3% at market close.Market anxiety over tech stocks grew over reports that Nvidia is negotiating a $250 billion backstop for OpenAI's Ohio data center project. The proposed guarantee is intended to back the project's lease obligations and construction-related debt, rather than the Nvidia chips installed at the facility, CNBC reported.CNBC's Jim Cramer said when suppliers finance customers' purchases, history shows deals can unravel when cash-strapped buyers can no longer pay, inflicting heavy losses on suppliers and investors alike.In company news, Xinyaqiang Silicon Chemistry (SHA:603155) posted first-half total sales revenue of 305.4 million yuan from 8,059 tons of products sold. Shares of the chemical company were down 6% Tuesday.

Shanghai Composite^SZSE

Asia8d ago

Inventec Board Approves Construction of Factory; Shares Slide 8%

Inventec's (TPE:2356) board approved the construction of a factory on its own land in Taoyuan City, Taiwan, according to a Tuesday filing with the Taiwan bourse.The total building amount will be NT$8.8 billion, with the project intended to meet production space needed for continued capacity expansion and future order demand.Shares of the electronics manufacturer were down nearly 8% in Tuesday trading.

TPE:2356

Commodities8d ago

Asia Biofuels Update: Palm Oil Extends Downward Trajectory as Crude Oil Drops

Malaysian palm oil futures slipped further on Tuesday as crude oil and rival soybean oil continued to decline, although losses were limited as exports grew based on preliminary estimates.The Bursa Malaysia Derivatives' August crude palm oil contract edged lower by 0.77% to 4,516 Malaysian ringgit ($1,105.37) per metric ton. The September contract dipped 0.86% to 4,590 ringgit/mt.Biofuel competitiveness has dampened following sharp declines in crude oil prices as tensions between the US and Iran eased.Nonetheless, Malaysian exports remained resilient, with cargo surveyors reportedly estimating July 1-25 shipments to have risen between 8.1% and 15.9% from a month earlier. If sustained throughout the month of July, exports will continue its growth following a 6.2% month over month rise in June.A weakening in the local currency has also supported exports by making them cheaper to foreign buyers. Malaysian ringgit eased against the US dollar by almost 3% in June and is on track for another monthly loss in July.Near-term fundamentals, however, remain loose as high inventories in producing regions persist.In the long term, market environment is expected to strengthen amid potential output cuts driven by the El Nino weather phenomenon, which is forecasted to peak between October 2026 and January 2027.The Malaysian Palm Oil Board, as cited by Focus Malaysia, projects fresh fruit bunch yields to drop by 10% to 14% in the first year, and by a further 3% to 4% in the following years, if dry weather conditions persist.MPOB reportedly projects Malaysian palm oil yields to decline 2% to 4% year over year in 2026, while prices could average from 4,300 ringgit/mt to 4,500 ringgit/mt. In the short term, it expects prices to remain above 4,000 ringgit/mt.Price reporting agency MySteel said that "the market is likely to see weak rangebound trading under the pressure of sluggish domestic spot demand and long-position liquidation, maintaining a pattern of near-term weakness and far-term strength," but downside will be limited due to expectations of lower output.

Asia8d ago

Shinkong Synthetic Fibers Unit, Heng Mei to Develop Residential Project

Shinkong Synthetic Fibers (TPE:1409) unit Qi Teng Construction signed a joint construction and separate sale agreement with Heng Mei Construction to develop a residential project in New Taipei, Taiwan.Under the agreement, Qi Teng Construction will contribute land valued at about NT$380 million, while Heng Mei Construction will fund the development, according to a Tuesday Taiwan Exchange filing.Qi Teng Construction expects to generate about NT$460.2 million in revenue from the project, it said.

TPE:1409

Asia8d ago

Tech Sell-Off Drags South Korean Equities Down, Triggering Circuit Breakers

South Korean stocks plunged on Tuesday as a sharp sell-off in semiconductor heavyweights dragged the benchmark KOSPI down over 10%, triggering market-wide circuit breakers. Shares of major market movers Samsung Electronics (KRX:005930), SK Hynix (KRX:000660), and LG Energy Solution (KRX:373220) declined 13%, 15%, and 6%, respectively.The Korea Composite Stock Price Index, or Kospi, decreased by 732.09 points, or 10.8%, to end at 6,023.66. The Kosdaq also declined by 59.01 points, or 7.7%, to close at 705.85.In economic news, South Korea's consumer sentiment improved in July, with the Composite Consumer Sentiment Index rising 0.2 points to 106.8, according to data from the Bank of Korea on Tuesday.The reading compared with the 106.6 level recorded in the previous month. A reading above 100 indicates optimism, while a reading below suggests a deteriorating outlook.Inflation expectations for the upcoming 12 months fell 0.1 percentage point to 2.7%.In corporate news, Daewoo Engineering & Construction (KRX:047040) secured a contract worth 273 billion won from Korea Electric Power (KRX:015760) subsidiary Korea South-East Power for the design, procurement, and technical support for a heat and power plant.Under the contract, Daewoo Engineering & Construction will supply gas and steam turbine generators, heat recovery steam generators, and related equipment for the Songsan combined heat & power plant in Gyeonggi province's Hwaseong, according to a Tuesday filing with the Korea Exchange.The contract runs from July 27, 2026, to Nov. 30, 2029.Shares of Daewoo Engineering & Construction plunged 12% at market close, while those of Korea Electric Power fell 7%.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:015760KRX:047040KRX:373220

Oil & Energy8d ago

EMEA Oil Update: Brent Futures Extend Fall for 3rd Straight Day

Brent crude futures fell for a third straight session on Tuesday as President Donald Trump signaled potential talks with Iran, though analysts warn that depressed Persian Gulf flows and Red Sea security risks will keep a heavy risk premium in the market.The Brent futures contracts extended decline by 2.7% to $86.04 per barrel. Murban closed at $84.43/bbl on July 27 and was not trading by the time of publication of this oil price update."Oil prices continue to sell off with recent developments pointing towards further de-escalation. However, for now, there is still no pickup in Persian Gulf oil flows," ING said.Trump said Monday Iran has requested talks after recent US military strikes, signaling a possible deal. "They want to meet, and we're meeting," Trump spoke during a press gaggle aboard Air Force One."There's a chance we can make a deal. Without what we did, they wouldn't even be talking to us," Trump said.Despite diplomatic de-escalation prospects, physical supply bottlenecks continue to underpin market caution."If this move lower is to be sustained, we will need to see a recovery in flows through the strait. Furthermore, even in the event of a deal, one would expect that the market will need to continue to price in a large risk premium, given that recent events have demonstrated how quickly a deal can unravel," ING added.Compounding regional supply uncertainties, trade flows face persistent threats.According to Kpler, Saudi crude exports moving through the Bab el-Mandeb Strait have dropped sharply following weekend Houthi attacks targeting Saudi oil infrastructure and shipping lanes.Prior to the July 22 attacks, Saudi west coast crude shipments from Yanbu averaged roughly 3 million barrels per day, Kpler noted.On the supply side, weekly US crude inventory data from the Energy Information Administration is forecast to show a 6.1-million-barrel draw for the week ending July 24, Macquarie strategists said in a weekly note on Monday, following a 2 million-barrel build the previous week.The market now awaits official crude inventory data due on Wednesday from the US EIA.

Asia8d ago

Sunflower Pharmaceutical Commits 10 Million Yuan to Set Up Subsidiary in Sichuan, China

Sunflower Pharmaceutical (SHE:002737) agreed to invest 10 million yuan to establish a subsidiary, according to a Shenzhen bourse filing on Tuesday.The subsidiary, to be named Sichuan Kuihua Pharmaceutical, will be a wholesaler and retailer of pharmaceutical products and will be located in Chengdu, Sichuan Province, China.

SHE:002737

Asia8d ago

Sunflower Pharmaceutical Offloads Beijing Pharmastar Stake for 34 Million Yuan

Sunflower Pharmaceutical (SHE:002737) agreed to dispose of its 10.4% equity in Beijing Pharmastar Pharmaceutical Technology for a consideration of 34.3 million yuan, according to a Shenzhen bourse filing on Tuesday.Guangzhou Baiyunshan Hejigong Pharmaceutical will acquire the stake.After the transaction, the Chinese medicine group will no longer hold any stake in Pharmastar.

SHE:002737

Asia8d ago

Market Chatter: CATL-Backed NASN Intelligent Tech Mulls Hong Kong IPO

NASN Intelligent Tech, a mainland Chinese developer of smart driving motion control technologies, is set to launch its Hong Kong initial public offering as early as Thursday, the South China Morning Post reported, citing people familiar with the matter.The CATL (SHE:300750, HKG:3750)-backed company recently passed its Hong Kong listing hearing, paving the way for the start of bookbuilding, according to the report.The shares are expected to begin trading on Aug. 7, the report 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.)

Hang Seng

Asia8d ago

Richinfo to Raise 1.27 Billion Yuan From Convertible Bond Issuance

Richinfo Technology (SHE:300634) plans to raise 1.27 billion yuan from the issuance of convertible bonds, according to a Monday filing on the Shenzhen bourse.The Chinese software developer's shares rose 1% at the close of Tuesday's trade.Proceeds from the issuance will be used for the construction of an intelligent computing center, the upgrading of a Rich AIBox Platform and the development of an enterprise AI agent application.

SHE:300634

Asia8d ago

Om Infra Emerges Lowest Bidder for INR5.69 Billion Chhattisgarh Water Project; Shares Up 4%

Om Infra (NSE:OMINFRAL, BOM:531092) has emerged as the lowest bidder (L1) for a water resources project in Chhattisgarh worth 5.69 billion Indian rupees.The project involves construction of the Mohmela Sirpur Barrage and associated works, including a pipe irrigation network, on the Mahanadi River in Raipur district, according to a Tuesday filing on Indian bourses. The contract also includes operation and maintenance of the project for five years after completion of construction.Shares of the company rose nearly 4% in recent trade.

BOM:531092NSE:OMINFRAL

Asia8d ago

Shunho New Materials Gets First Installment of 3.7 Million Yuan From Yuxi Printing Sale; Shares Down 3%

Shanghai Shunho New Materials Science & Technology (SHE:002565) received 3.7 million yuan as the first installment for its sale of 33% equity in Yunnan Yuxi Printing, according to a Shenzhen bourse filing on Tuesday.Yunnan Chengluo Enterprise Management bought the stake for a consideration of 74.3 million yuan.The environmental packaging materials manufacturer's shares fell 3% during the afternoon trade.

SHE:002565

Asia8d ago

Xinya Electronic Increases Investment in Thai Subsidiary

Xinya Electronic (SHA:605277) increased its investment in subsidiary Xinya Electronics (Thailand) by $10 million, according to a Tuesday filing with the Shanghai Stock Exchange.The $10 million investment will fund the subsidiary's land acquisition, factory construction, and equipment purchases, among others, Xinya said.

SHA:605277

Asia8d ago

Xinyaqiang Silicon Chemistry Reports H1 Sales Revenue of 305.4 Million Yuan; Shares Fall 6%

Xinyaqiang Silicon Chemistry (SHA:603155) posted first-half total sales revenue of 305.4 million yuan from 8,059 tons of products sold.Functional additives led with 274.1 million yuan in sales, while phenyl silane series contributed 31.3 million yuan, according to a Tuesday filing with the Shanghai bourse.Shares of the chemical company were down 6% in recent trade.

SHA:603155

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Oil & Energy8d ago