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ITC Properties Proposes Name Change

ITC Properties (HKG:0199) is proposing to change its English name to ITC Neocloud Group, alongside a change in its Chinese name, according to a Tuesday Hong Kong bourse filing.Shares of the property developer were down nearly 3% in Wednesday afternoon trading.The name change is subject to the relevant shareholder and regulatory approvals.The move comes as the company believes its existing name no longer reflects its broad business scope and strategic direction.

HKG:0199

Asia9d ago

Market Chatter: Pop Mart International Debuts Singapore Pop Bakery

Pop Mart International (HKG:9992) opened its first overseas Pop Bakery dessert store in Singapore as it expands its international footprint, Reuters reported Wednesday.The Chinese toymaker is considering opening Pop Bakery outlets in Europe and the United States and also plans to expand the concept across Southeast Asia, including Thailand, Indonesia and Malaysia, Pop Bakery head Zhang Xiaoyang told the news outlet.The expansion comes as domestic sales soften following strong demand for the company's intellectual property-driven products in 2025, according to the report.Shares of the company rose over 2% in recent trade.(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.)

HKG:9992

Asia9d ago

Nomura Adjusts Coforge's Price Target to INR1,860 From INR1,740, Keeps at Buy

Coforge (NSE:COFORGE, BOM:532541) has an average rating of overweight and mean price target of 1,811.26 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:532541NSE:COFORGE

Asia9d ago

Nomura Adjusts Cholamandalam Investment and Finance's Price Target to INR1,820 From INR1,760, Keeps at Neutral

Cholamandalam Investment and Finance (NSE:CHOLAFIN, BOM:511243) has an average rating of overweight and mean price target of 1,947.32 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:511243NSE:CHOLAFIN

Asia9d ago

Nomura Adjusts HD Hyundai Electric's Price Target to KRW1,000,000 From KRW1,190,000, Keeps at Buy

HD Hyundai Electric (KRX:267260) has an average rating of buy and mean price target of 1,294,166.60 won, 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)

KRX:267260

Asia9d ago

Nomura Adjusts Hybe's Price Target to KRW250,000 From KRW400,000, Keeps at Buy

Hybe (KRX:352820) has an average rating of buy and mean price target of 346,250 won, 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)

KRX:352820

Research9d ago

Nomura Upgrades Hanwha Systems to Neutral From Reduce, Adjusts Price Target to KRW61,000 From KRW65,000

Hanwha Systems (KRX:272210) has an average rating of overweight and mean price target of 116,181.82 won, 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)

KRX:272210

Asia9d ago

South Korean Shares Extend Selloff for Second Day, Kospi Plunge Nearly 6% on AI Spending Concerns

South Korean equities plummeted for a second straight session on Wednesday, driven by an accelerating selloff across major technology and semiconductor holdings over concerns regarding artificial intelligence investment returns.The Korea Composite Stock Price Index, or Kospi, decreased by 360.42 points, or 6%, to end at 5,663.24. The Kosdaq also declined by 43.17 points, or 6.1%, to close at 662.68.The market slide overshadowed positive economic indicators released Tuesday by the Ministry of Culture, Sports and Tourism. South Korea welcomed 1.99 million foreign tourists in June, rising 23.1% from a year ago, the Ministry of Culture, Sports and Tourism said Tuesday.The total number of foreign tourists reached 10.71 million in the first half of 2026, up 21.3% year over year, the government agency said.Foreign credit card spending hit 2.54 trillion won in June, bringing the total to more than 10 trillion won in the first half.In corporate news, Daewoo Engineering & Construction (KRX:047040) was removed as a contractor for the Gangnam Wonhyoseong villa housing redevelopment project, according to a Tuesday filing with the Korea Exchange.Shares of Daewoo Engineering & Construction fell nearly 11% at market close.

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Commodities9d ago

Asia Biofuels Update: Palm Oil Recovers on Crude Oil Strength, Robust Exports

Malaysian palm oil futures rebounded on Wednesday as crude oil prices rose and as strong exports and long-term weather-related supply risks provided support.Following two sessions of losses, the Bursa Malaysia Derivatives' August crude palm oil contract recovered 0.64% to 4,569 Malaysian ringgit ($1,111.25) per metric ton. The September contract firmed 0.67% to 4,636 ringgit/mt.Malaysian palm oil shipments for the July 1-25 period reportedly grew between 8.1% and 15.9% from a month earlier based on cargo surveyor estimates. This followed a 6.2% month over month rise in June.A potential rebound in Indian demand ahead of Diwali could boost exports from Malaysia and Indonesia going forward.However, exportable supplies from Indonesia may be limited as the country progresses with its higher 50% palm-based biodiesel blending mandate, or B50.State-owned energy company Pertamina began the nationwide rollout of B50 and plans to complete the distribution of biodiesel at all fuel stations by Oct. 1, BioEnergy Times reported.To support the export market, Indonesia is reportedly seeking a US tariff exemption for palm oil exports, after the US imposed a 10% duty on nations associated with forced labor. Top palm oil producers Indonesia and Malaysia are among the countries that received the penalty in July.On the supply side, near-term production is expected to remain robust as palm trees remain in peak seasonal output, while long-term yields are likely to decrease amid expectations of a strong El Nino weather phenomenon toward the end of the year through early 2027.Price reporting agency MySteel sees market fundamentals as mixed, with near-term balance remaining loose while the long-term outlook appears tight due to the potential El Nino impact."...the scope for deep declines remains limited due to support from longer-term supply concerns," it said.

Asia9d ago

Malaysian Economy 'Well on Track' to Grow 4-5% in 2026: Central Bank Governor

The Malaysian economy is "well on track " to grow 4%-5% in 2026, and likely to be in the upper range, despite the energy crisis due to the war in the Middle East, with manageable inflation, Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour said on Tuesday.The economy expanded by 5.2% in 2025, with contained inflation and the ringgit being the region's best-performing currency, through "carefully designed and sequenced reforms", he said at the opening of the two-day Sasana Symposium 2026."Looking ahead, the medium-term outlook remains favourable. Growth is expected to stay firm, while inflation remains manageable," he said, adding that the central bank will continue to do what is needed to maintain price stability that supports sustainable economic growth.BNM's monetary policy remains an important line of defense, and with the current global situation, the central bank's stance remains in line with the domestic growth and inflation outlook, the governor said.

FTSE Bursa Malaysia KLCI

Asia9d ago

Liquidity Measures Lift China Stocks; Fujian Funeng Up 3%

Chinese equities finished Wednesday's session higher, supported by fresh liquidity measures from the central bank.The Shanghai Composite Index, the main gauge of Chinese stocks, closed 0.4% higher to 3,828.47. The Shenzhen Component Index climbed 1.1% to 13,658.44.The People's Bank of China conducted 206.5 billion yuan in seven-day reverse repos at 1.40%, alongside an additional 600 billion yuan via an overnight facility, though the latter's rate was not disclosed, Reuters reported.The central bank had previously signaled it would inject 2.1 trillion yuan in total via overnight repos from July 29 through Aug. 3.However, market sentiment was tempered by news that the U.S. Federal Communications Commission is targeting imports of robotics and inverters from China. The FCC updated its "Covered List" to include imports of new robots and power inverters, with the latest restrictions aiming to target Chinese cybersecurity risks while pressuring firms to bring artificial intelligence manufacturing to the U.S.In company news, Fujian Funeng (SHA:600483) signed a letter of intent to wholly sell loss-making textile subsidiary Funeng Nanfang to its indirect controlling shareholder, Energy and Petrochemical Group. Shares of the power producer closed 3% higher Wednesday.

Shanghai Composite^SZSESHA:600483

Equities9d ago

Woodside Energy Group Q2 Operating Revenue Rises; Narrows 2026 Production Guidance

Woodside Energy Group (WDS) reported Q2 operating revenue late Tuesday of $4.19 billion, up from $3.28 billion a year earlier.Two analysts polled by FactSet expected $3.50 billion.The company narrowed its 2026 production guidance to 174 million to 185 million barrels of oil equivalent from 172 million to 186 million barrels of oil equivalent.

$WDS

Asia9d ago

Market Chatter: Ferns N Petals Eyes 2028 India IPO

Gifting company Ferns N Petals is looking to list on the Indian bourse by the end of 2028, Reuters reported citing its global CEO Pawan Gadia.The gifting brand operating in India, the United Arab Emirates, Singapore, Saudi Arabia and Qatar, reportedly plans to use proceeds from the IPO for the potential acquisition of other gifting companies.The retailer also aims to expand into Malaysia and more Gulf countries, Reuters 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.)

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Oil & Energy9d ago

EMEA Oil Update: Brent Surges as Military Strikes Outweigh Diplomatic Efforts in Middle East

Crude futures climbed early Wednesday following fresh regional military strikes in the Middle East, while data revealed a larger-than-expected drawdown in US crude inventories.The Brent futures contracts surged 3.7% to $87.18 per barrel. Murban closed at $84.09/bbl on July 28 and was not trading by the time of publication of this oil price update."Oil prices are trading higher this morning following strikes on US troops and Saudi energy infrastructure, highlighting the challenges of getting a US and Iran deal back on track," ING analysts said.On the supply side, data from the American Petroleum Institute revealed Tuesday that US crude oil inventories decreased by 3.3 million barrels in the week ended July 24, according to a Bloomberg-compiled survey.Attention now turns to the official petroleum inventory report from the US Energy Information Administration.Meanwhile, OPEC+ is projected to pause further production quota increases after approving a final scheduled hike for September.The producer group is reportedly expected to sign off on an output increase of 188,000 barrels per day when it meets virtually on August 2, continuing to evaluate regional conflict impacts."Obviously, supply increases on paper don't necessarily reflect an actual supply increase, given the ongoing supply disruptions in the Persian Gulf. However, post-disruption, the announced supply increases from the group reinforce the view of a well-supplied market through 2027," ING added.

Asia9d ago

ANA Holdings' Fiscal Q1 Attributable Net Income Drops 15%

ANA Holdings (TYO:9202) posted a 15.4% year-over-year decline in attributable net income for the fiscal first quarter to 19.4 billion yen from 23.0 billion yen.Net income per share was 35.56 yen, compared with 43.90 yen a year earlier, according to a Tokyo bourse filing on Wednesday.Operating revenue rose 22.6% to 672.7 billion yen from 548.7 billion yen for the three months ended June 30.For the fiscal year ending March 31, 2027, the company expects attributable net income of 96 billion yen, net income per share of 209.26 yen, and operating revenue of 2.770 trillion yen.The company plans to pay interim and year-end dividends of 30 yen per share each for the current year.Shares of the air transportation company rose more than 2% in recent trade.

TYO:9202

Asia9d ago

ENM Holdings CEO to Retire in September

ENM Holdings (HKG:0128) Chief Executive Officer Penny Soh Peng Crosbie-Walsh will resign effective Sept. 1, according to a Wednesday filing with the Hong Kong Exchange.Crosbie-Walsh is retiring to devote more time to her family and public service commitments.Separately, the company said it will dissolve its corporate governance and investment committees effective Aug. 1 as part of efforts to streamline its governance structure.The duties and responsibilities of both committees will be assumed by the board.

HKG:0128

Asia9d ago

Hebei Huatong Wires and Cables to Inject Up to $45 Million into South Korean Unit; Shares Up 5%

Hebei Huatong Wires and Cables (SHA:605196) plans to invest up to $45 million into wholly owned South Korean subsidiary Pusan Cables & Engineering to expand capacity and boost global operations.The capital injection, via Huatong International, will maintain the unit's 100% ownership structure, according to a Wednesday filing with the Shanghai bourse.Shares of the cable manufacturer climbed 5% in recent trade.

SHA:605196

Asia9d ago

Market Chatter: Bank of Singapore to Launch Agentic AI Platform

Oversea-Chinese Banking's (SGX:O39) private banking unit, Bank of Singapore, is deploying an agentic artificial intelligence platform called HELIOS that aims to cut new account opening times for wealth management clients to 15 business days from more than 30, Reuters reported, citing Bank of Singapore Chief Executive Jason Moo and OCBC Head of Group Legal and Compliance Loretta Yuen.The platform automates due diligence by gathering client information and credit risk profiles for relationship managers. More than 100 relationship managers have been using HELIOS across Singapore, Hong Kong and Dubai over the past five months, the news agency said.Moo said about 50 clients have been onboarded through the platform, with the rollout expected to be completed across Bank of Singapore by the third quarter before expanding to OCBC's Premier Private Client segment by year-end, Reuters 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.)

SGX:O39

International9d ago

Ifo: Pace of German Job Cuts 'Somewhat' Eases in July

German layoff plans "somewhat" slowed in July, but a labor market turnaround still requires "even greater economic momentum," the ifo Institute said Wednesday.The ifo Employment Barometer edged up to 93 points from June's 92.2 points.Most sectors in Germany continue to cut positions or keep headcount steady, particularly in manufacturing, trade and hospitality. The few segments adding jobs are legal and tax services as well as data processing and electronics producers.

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Asia9d ago

Shyam Metalics and Energy Commissions 1.5 MTPA Ore Beneficiation Plant in Odisha, India

Shyam Metalics and Energy (NSE:SHYAMMETL, BOM:543299) has commissioned a 1.5 million tonnes per annum (MTPA) ore beneficiation plant at Sambalpur in Odisha, India.The company said the 1.5-billion-rupee facility is operational and is processing low-grade ore into high-grade feedstock for its downstream operations, according to a Wednesday filing on Indian bourses. The plant is expected to improve raw material utilization and support profitability by upgrading lower-grade ore.Shares of the company rose nearly 1% in recent trade.

BOM:543299NSE:SHYAMMETL

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Commodities9d ago