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Tokai Tokyo Downgrades Idom to Neutral from Outperform; Price Target is 1,420 Yen

TYO:7599

Hong Leong Starts Malayan Flour Mills at Buy with MYR0.93 Price Target

KLSE:MFLOUR

PT Verdhana Sekuritas Indonesia Starts Dharma Satya Nusantara at Buy with IDR2,100 Price Target

IDX:DSNG

Youran Dairy Forecasts Turnaround to H1 Profit

China Youran Dairy (HKG:9858) expects an attributable profit of between 739 million yuan and 903 million yuan for the six months ended June 30, compared with an attributable loss of 297 million yuan a year prior.The dairy products manufacturer attributed the forecast to narrower losses from changes in fair value less costs to sell of biological assets, as well as a boost in the operating performance of its core business.

HKG:9858

BNK Financial Group Declares Quarterly Dividend

BNK Financial Group (KRX:138930) declared a quarterly cash dividend of 150 won per common share, with a total dividend amount of 46.03 billion won, according to a Tuesday regulatory filing with the Korea Exchange.The dividend record date is August 12, and the scheduled payout is on August 27.

KRX:138930

Luk Fook Fined HK$2.1 Million for Inadequate Cybersecurity Protection

Luk Fook (International) (HKG:0590) has been publicly reprimanded and fined HK$2.1 million by the Securities and Futures Commission (SFC), according to a Tuesday release by the latter.The action came as Luk Fook did not put adequate cybersecurity control measures in place, potentially making it more vulnerable to a ransomware attack on Sept. 19, 2022.The ineffective protection measures led to a breach of the SFC's cybersecurity framework requirements as the company faced a delay of around three weeks in recovering its systems from the attack.Luk Fook has since worked on identifying the root cause of its failings, improving its systems and controls, and working with the SFC to resolve its concerns.

HKG:0590

Goldman Sachs Adjusts Price Target on Diamondback Energy to $212 From $210, Maintains Buy Rating

Diamondback Energy (FANG) has an average rating of buy and mean price target of $231.17, 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)

$FANG

Goldman Sachs Adjusts Price Target on APA to $31 From $32, Maintains Sell Rating

APA (APA) has an average rating of hold and mean price target of $42.36, 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)

$APA

^STISGX:5CFSGX:BN4SGX:HMN

Goldman Sachs Adjusts Price Target on EOG Resources to $127 From $129, Maintains Neutral Rating

EOG Resources (EOG) has an average rating of overweight and mean price target of $158.79, 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)

$EOG

Asia Markets8d ago

Singapore Shares Fall Over AI Investments Sustainability

Singapore shares fell on Tuesday, tracking broader regional losses as investors mirrored concerns over the sustainability of AI investments amid intense Chinese competition.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,577.43 and 5,625.27 throughout the day. It ended the session at 5,616.11, down 4.13 points or 0.1% compared to Monday's close.On the corporate front, shares of Keppel (SGX:BN4) closed nearly 3% higher as it surpassed its end-2026 interim target of SG$100 billion in funds under management after adding about SG$13.5 billion across its private infrastructure, real estate and connectivity funds year to date.OKP Holdings' (SGX:5CF) shares closed nearly 1% lower as its wholly-owned subsidiary, OKP Land, has incorporated a joint venture company, RPC One, with Hwa Seng Investment.Meanwhile, shares of CapitaLand Ascott Trust (SGX:HMN) were down nearly 1% at the close as it reported an 11% increase in first-half income available for distribution to SG$107 million.

Galp Energia Estimates Revised as RBC Notes Q2 Results, Upgraded FY26 Guidance

RBC Capital Markets said Monday it revised its forecasts for Galp Energia (GALP.LS), taking into account its recently updated commodity price deck, alongside the company's second-quarter results and upgraded full-year 2026 outlook.The Portuguese energy group lifted its production guidance to 130,000 barrels of oil equivalent per day from the previously expected range of 125,000 to 130,000 barrels of oil equivalent per day, with analysts expecting the possibility of a further upgrade later in 2026.The research firm nudged up its production estimates by 0.3% for 2026 and 0.2% for both 2027 and 2028. EPS projections for 2026 and 2027 were respectively lowered by 1.5% and 3.5%, while that for 2028 was raised by 5.3%."Despite some cautiousness from management, Galp is set to surpass both its operational and financial targets this year, and certain events could create additional optionality for shareholders (Moeve JV, Mozambique). At the same time, given the market's initial reaction to the much anticipated Mopane deal last year (-15% intraday), it is not surprising if investors remain cautious ahead of these potential 'catalysts', and wait for clearer signs of shareholder value creation," the research firm said.The outperform recommendation on the stock and 22-euro price target were maintained.

$GALP.LS

Neste Enters Renewable Diesel Supply Partnership for Scientific Expedition

Finnish oil refiner Neste (NESTE.HE) partnered with French ocean conservation group Tara Ocean Foundation for the supply of renewable diesel for a scientific expedition.The Neste MY Renewable Diesel will be used to support the 18-month expedition of the foundation's drifting laboratory and observatory facility, the Tara Polar Station, according to a Tuesday release.

$NESTE.HE

Commodities8d ago

Europe Likely to Face Next Winter With Inadequate Natural Gas Reserves, Says WoodMac

Europe's natural gas storage levels are at a historic low as the closure of the Strait of Hormuz raises global competition for restricted supplies of gas, raising the risk of inadequate supply next winter, analysts at Wood Mackenzie said in a report on Monday.Wood Mackenzie said that pressures are building in the global gas market, with no expectation that major LNG producer Qatar can return to full capacity before H2, 2027.The analysts' best case scenario, based on Qatar instead reaching full capacity by the end of September, is for European storage to reach 75% at the most by Nov. 1.That would be 15 percentage points below the five-year average of 90%. Should the Strait of Hormuz remain closed for another two months, then storage would be below 70% by Nov. 1.Under the latter scenario, gas prices would likely climb and some emerging Asian countries would resort to demand destruction. Gas is currently more sensitive to the disruption in the Middle East than crude oil, Wood Mackenzie said."Low European inventories, strong Asian demand and limited new LNG supply growth almost guarantee elevated prices through this winter and into 2027" said Massimo Di Odoardo, vice president of gas and LNG research at Wood Mackenzie.Currently, gas reserves are about 54% full across Europe, the note said, adding that the LNG market may only return to equilibrium from 2028.While the scenario is not as severe as in 2022, Europe is still "approaching energy crisis territory," the note said, with alternatives limited amid a phase-out of imports from Russia.

Jefferies Downgrades Clorox to Hold From Buy, Adjusts Price Target to $98 From $125

Clorox (CLX) has an average rating of hold and mean price target of $97.07, 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)

$CLX

ASE Technology Unit Buys NT$1.6 Billion Machinery, Equipment; Shares Down 9%

ASE Technology's (TPE:3711) subsidiary, SPIL, acquired machinery and equipment worth NT$1.6 billion, according to a Tuesday filing with the Taiwan Exchange.The purchase comprised four batches at NT$400 million each from DTECH International.Shares of the semiconductor assembly and testing services provider were down nearly 9% in Tuesday trading.

TPE:3711

Mining & Metals8d ago

FireFly Metals Posts Drilling Results from Core Zone of Green Bay Copper-Gold Project

FireFly Metals (FFM.TO) released drilling results from the Core Zone of the Green Bay Copper-Gold Project in Newfoundland that highlight the potential to support early, high-margin production, the company said Monday.Highlights of the results include 42.0 meters at 6.1% copper equivalent, including a volcanogenic massive sulphide zone of 9.8 m at 16.5% copper equivalent; and 51.5 m at 4.9% copper equivalent, including 17.0 m at 9.1% copper equivalent.FireFly plans to incorporate these results into an updated mineral resource estimate. A preliminary economic assessment and scoping study is expected to be completed in August.

$FFM.TO

Oil & Energy8d ago

EMEA Natural Gas Update: Futures Slide After US-Iran Pause in Hostilities, Fresh Diplomatic Push

European natural gas futures extended their decline on Tuesday amid reports of diplomatic engagements between the US and Iran, leading to a pause on military hostilities in the region.The front-month Dutch TTF contract dropped 2.51% to 56.790 ($64.57) per megawatt-hour, while the front-month UK NBP contract declined 2.32% to 138.780 pence ($1.85) per therm.Speaking to reporters on Monday, US President Donald Trump said there was "a chance" of reaching a deal with Tehran during the current pause in hostilities, adding that Iran had requested talks with Washington through intermediaries following nearly two weeks of escalating military exchanges between the two countries.Meanwhile, traffic along the strategically crucial Strait of Hormuz, which accounted for one-fifth of global LNG flows, held steady at 11 transits on Monday, according to data from ShipFinder.Despite the latest developments, Daniel Hynes, senior commodity strategist at ANZ, said QatarEnergy, the world's largest LNG exporter, was still offering to sub-charter its LNG carriers through the end of October, suggesting the company was in no rush to resume LNG shipments through the Persian Gulf.At the same time, Hynes noted that South Asian importers were actively purchasing LNG cargoes due to the shortfall in Middle East supplies, which is starting to weigh on Europe's gas refilling operations ahead of Winter.European gas inventories were still below historic levels, at 55.66% of capacity, compared to 66.83% during the corresponding period a year ago, according to Gas Infrastructure Europe.Inventories were also significantly below the five-year average for this period, at 71.5%, according to the Swiss Federal Office of Energy.

UBS Initiates STERIS at Buy With $275 Price Target

STERIS (STE) has an average rating of overweight and mean price target of $264, 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)

$STE

JPMorgan Upgrades International Paper to Overweight From Neutral, Adjusts PT to $61 From $51

International Paper (IP) has an average rating of overweight and mean price target of $44.40, 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)

$IP