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NZX Midday Sector Update: Distribution Services Rise, Finance Declines

Distribution services shares gained the most on New Zealand's Exchange, rising almost 2% by midday Tuesday.Shares of Vulcan Steel (NZE:VSL, ASX:VSL) rose nearly 2% in recent trade.Meanwhile, the finance sector fell 1%.Westpac Banking (NZE:WBC, ASX:WBC) was down almost 2% in recent trade.

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Asia153d ago

Metaspacex Says Lender Sold Controlling Shareholder's Shares Without Consent

Metaspacex (HKG:1796) said its controlling shareholder, China Sports Assets Management, had 102.3 million shares sold by a lender in the market without its authorization, according to a Tuesday Hong Kong bourse filing.The shares were disposed of between April 2 and April 9 at prices ranging from HK$0.17 to HK$2.07.Following the disposal, China Sports held 255.9 million shares, representing about 53.3% of the company.The company said it is reviewing the transactions, including the identity of buyers and potential compliance with listing and takeover rules.

HKG:1796

Asia153d ago

Polymetals Resources Ramps Up Mining, Processing at New South Wales Silver-Zinc Mine, Shares Up 13%

Polymetals Resources (ASX:POL) said it produced 547,302 ounces of silver, 1.9 million tonnes of zinc, and 1,064 ounces of gold at the Endavour silver-zinc mine in New South Wales as it ramps up mining and processing performance, according to a Tuesday Australian bourse filing.A total of 59,264 tonnes of Main Lode ore was mined and processed in January and February, with mill maintenance conducted over March.It added that 18,384 dry metric tonnes of high-grade direct shipping ore from the Upper North Lode were mined during the March quarter, and the first 5,500-tonne parcel was readied for shipment in April.Its shares climbed 13% in recent trading on Tuesday.

ASX:POL

Asia153d ago

Voyah Automotive's Controlling Shareholder to Increase Stake

Voyah Automotive Technology (HKG:7489) said its controlling shareholder Dongfeng Motor Group (HKG:0489) plans to increase its stake in the business, according to a Hong Kong bourse filing Tuesday.Dongfeng Motor, which already owns 69.47% of the business, plans to invest an additional 250 million yuan within 12 months in the company's H shares.

HKG:0489HKG:7489

Asia153d ago

Patronus Resources Acquires Remaining Stake in Western Australia Project's Guppy Gold Prospect; Shares Up 3%

Patronus Resources (ASX:PTN) purchased the remaining 20% stake in the Guppy-Benalla prospect for AU$250,000 in cash, giving it full ownership of the tenure within the Cardinia Gold Project in Western Australia, according to a Tuesday filing with the Australian bourse.The acquisition follows the completion of a AU$2 million, 80% earn-in over the tenements, and eliminates joint venture restrictions to give the company full control over exploration and any future development pathways, per the filing.Previous drilling at the area returned high-grade intercepts, including 12 meters at 12.4 grams per tonne grade of gold from 20 meters. The company said follow-up air core and reverse circulation drilling is planned, subject to the finalization of heritage surveys.Shares of Patronus Resources gained nearly 3% in recent Tuesday trading.

ASX:PTN

Asia153d ago

Lingbao Gold to Raise HK$771 Million via Share Placement, Subscription

Lingbao Gold (HKG:3330) plans to raise about HK$770.6 million in net proceeds through a share placing and top-up subscription, according to a Tuesday Hong Kong bourse filing.Jesi Industrial Development (Hong Kong) will place 29.8 million shares at HK$26.16 each to investors on a best-efforts basis.The placing represents about 2.2% of the gold miner's existing issued share capital.The placing price represents a discount of about 4.5% to the last closing price and about 6.8% to the five-day average price, the filing said.Lingbao Gold will issue the same number of new shares to the seller under a top-up subscription at the same price.Net proceeds will be used for overseas gold mining acquisitions, exploration, and expansion of mineral reserves, as well as working capital, the filing added.

HKG:3330

Asia153d ago

Suzhou Ribo Life Science Submits Phase 2b Trial Application for Vortosiran in Europe

Suzhou Ribo Life Science (HKG:6938) said it submitted a phase 2b clinical trial application to the European Medicines Agency for its core product Vortosiran for stroke prevention in atrial fibrillation, according to a Tuesday Hong Kong bourse filing.Vortosiran targets factor XI to reduce clotting activity and may offer thromboembolic protection with lower bleeding risk, the filing said.

HKG:6938

Asia153d ago

Orix To Exit IX NTI Holdings in Sale to Olympus Partners Unit

Orix (TYO:8591) has agreed to sell its entire stake in IX NTI Holdings, the parent of US telecom infrastructure company Network Connex, to a special purpose vehicle affiliated with Olympus Partners, according to a Tuesday filing on the Tokyo Stock Exchange.The transaction will transfer 100% ownership from Orix Capital Partners to NTI, subject to regulatory approvals, including clearance under US antitrust rules.Orix said the timing and financial impact remain uncertain, noting that any gain from the sale will depend on completion conditions and currency fluctuations.

TYO:8591

Asia153d ago

Sunstone Metals Says Drilling at Ecuador Project Intersects Wide Gold-Copper Mineralization, Shares Jump Over 16%

Sunstone Metals (ASX:STM) said its new diamond drilling program at the Copete porphyry system within the Bramaderos project in Ecuador intersected wide intervals of gold-copper mineralization within the first two drill holes, according to a Tuesday Australian bourse filing.It hit intercepts of 200 meters at 0.45 grams-per-tonne grade of gold-equivalent, including 0.33 g/t grade of gold and 0.07 % copper, as well as 162.2 meters at 0.32 g/t grade of gold-equivalent, including 0.20 g/t grade of gold and 0.07 % copper.Its shares jumped 16% in recent trading on Tuesday.

ASX:STM

Asia153d ago

Market Chatter: OSP Holdings Acquires US Peer Merchant To Expand Overseas

OSP Holdings has acquired U.S.-based Merchant Investments to expand in North America and capture rising demand for packaging labels, Nikkei reported Tuesday.The deal gives OSP its first manufacturing base in the U.S., strengthening its ability to respond to customers with shorter lead times, according to the report.The move comes as Japan's shrinking population pressures domestic growth, prompting OSP to lift overseas sales from a low base, the report said.Demand for packaged food, including meal delivery, continues to support growth in the U.S. label market, according to the report.(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.)

Nikkei 225

International153d ago

Brent Crude Oil Expected to Reach $88 Per Barrel by End of 2026, ANZ Research Says

Brent crude oil is expected to stay above $90 per barrel for the remainder of 2026 and reach $88-per-barrel by the end of the year, as tight balances alone are sufficient to sustain the price of Brent near or above recent threshold levels, ANZ Research said in a Tuesday report.The longer the conflict in the Middle East drags on, the more persistent these price dynamics are likely to be, ANZ said.The conflict resulted in large‑scale, realized supply curtailments across core Persian Gulf oil producers. Relative to the analysts' January baseline, 9.5 million barrels per day of crude supply have been effectively removed from the market. This turned a modest expected surplus at the start of the year into a deep deficit.The oil supply recovery is likely to be slow, incomplete and uneven, leaving the market structurally tighter and more volatile through mid‑2026, ANZ said.An estimated 1 million to 2 million barrels per day of oil supply is at risk of being permanently or semi‑permanently lost due to issues such as reservoir damage, aging fields, deferred maintenance, and ongoing sanctions or financing restrictions, according to the report.

ASX 200

Asia153d ago

Hastings Technology Metals Signs Offtake Agreement With Enuo for African Monazite Concentrate Supply

Hastings Technology Metals (ASX:HAS) said it has executed a framework offtake agreement with Enuo Holdings for the supply of a minimum 5,000 metric tonnes per year of African monazite concentrate to its hydrometallurgical plant in Thailand, according to a Tuesday Australian bourse filing.The company said the agreement provides for a two-year supply term with an option for a one-year renewal prior to the Yangibana project coming online, with commissioning of the hydromet plant expected to commence in June.The monazite concentrate contains magnet rare earth elements of neodymium and praseodymium of about 20% of total rare earth oxide (TREO), alongside dysprosium and terbium of about 1% to 1.3%, the filing added.Following Hastings' recent acquisition of a 49% interest in the hydromet plant, the agreement secures the raw material feedstock required to commission and operate the plant, with production planned to commence by the fourth quarter, the filing added.The company said that Enuo is its existing partner under a January technical services and research agreement covering Yangibana and Brockman ore test work, and the offtake agreement extends that relationship to the physical supply of concentrate for production.The company's shares rose 2% in recent Tuesday trade.

ASX:HAS

Asia153d ago

Prospect Resources Identifies Gold Mineralization at Zambia Copper Project

Prospect Resources (ASX:PSC) said it identified gold mineralization during a recent drilling at its Mumbezhi copper project's Nyungu Central deposit in Zambia, according to a Tuesday Australian bourse filing.The results were up to 23.1 meters at 0.55 grams per tonne grade of gold from 82.9 meters and 17 meters at 0.17 g/t gold from 47 meters.The results are in addition to the initial 32 re-assayed holes reported in January, the filing added.The company said receipt of gold results from the 26 remaining re-assayed holes is expected in late April.The company added that the widespread nature of the gold, coupled with in-situ cobalt, delivers "strong" potential to upgrade the Mumbezhi copper project economics via significant by-product credits, with all new gold results to be incorporated into an updated mineral resource estimate for Nyungu Central expected during the second quarter.The company's shares rose 2% in recent Tuesday trade.

ASX:PSC

Asia153d ago

Seek Faces Increased Short-Term Competition, AI Risks, Jefferies Says

Seek (ASX:SEK) faces both short- and long-term risks, and could see increased competition when it sells its full stake in Employment Hero, which has 300,000 small and medium-sized enterprise customers across its job portal and app, Jefferies said in a Monday note.Artificial intelligence could result in a broad range of outcomes for Seek, as job ads are text-based and other platforms such as applicant tracking systems can also pair candidates with vacant positions, the equity research firm said.It noted that the Seek Job Ad Index is down around 2.5% in the fiscal year to date, compared with the company's forecast for relatively stable volumes.CAR Group (ASX:CAR) remains Jefferies' top pick in the classifieds sector, supported by a resilient and diversified earnings profile that should perform well even under softer macro conditions. The company is insulated from AI disruption due to its market leadership and rich data sets, while its investment investment in an AI hub will help it tackle any AI-native challengers, Jefferies said.Meanwhile, REA Group (ASX:REA) faces little competitive threat from Domain in the real estate classifieds market. Jefferies sees "a low risk of AI-driven disintermediation for REA, given its metadata advantage, product innovation, and integration into agents' workflows."The equity research firm cut its rating on Seek to hold from buy and lowered its price target to AU$15.90 from AU$24.80. It maintained a buy rating on both CAR Group and REA Group, but cut CAR's price target to AU$33 from AU$38.50, and lowered REA Group's price target to AU$192 from AU$203.The changes are part of a process to standardize valuation across the sector.Seek's shares were down nearly 3% in recent Tuesday trade, CAR Group's shares added about 1%, and REA Group's shares jumped almost 2%.

ASX:CARASX:REAASX:SEK

Asia153d ago

South Korean Shares Open Higher Over Potential Second Round of Peace Talks Between US, Iran

South Korean shares opened higher on Tuesday amid discussions between the US and Iran to hold a potential second in-person meeting before the agreed US-Iran ceasefire expires next week.The benchmark Korea Composite Stock Price Index, or Kospi, rose 151.38 points or 2.6% to open at 5,960. The Kosdaq also increased 20.77 points or 1.88% to start trading at 1,120.61.Discussions for the talk come after the US carried out a naval blockade on Iranian ports, which started at 10 a.m. ET on Monday. US President Donald Trump threatened Iranian ships that come near the blockade. Trump also said that other countries were offering to help with the blockade of Iranian ports, but he did not mention which countries.Iranian Foreign Minister Abbas Araghchi told his Russian counterpart Sergey Lavrov that "provocative" US actions in the Persian Gulf and Strait of Hormuz could threaten global peace. Lavrov said Russia is ready to help resolve the issue from the "unprovoked American-Israeli aggression against Iran."In other news, Marco Rubio will join direct Israel-Lebanon talks on Tuesday at the US State Department, alongside Michel Issa and Michael Needham, with delegations led by ambassadors Yechiel Leiter and Nada Hamadeh.

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Asia153d ago

Market Chatter: Shanghai Backs Foreign Investment Despite Japan-China Tensions

Shanghai officials signaled continued support for foreign businesses, citing Toyota Motor (TYO:7203) and Japan External Trade Organization as part of efforts to attract investment, Nikkei reported Tuesday.The city plans to deepen reforms, expand free trade zones and ease restrictions to encourage foreign companies to grow operations, according to the report.Authorities pointed to progress on a Lexus plant in Shanghai and said nearly 80,000 foreign firms operate in the city, the report said.The push comes despite strained Japan-China ties, with officials aiming to speed up market entry and improve support for overseas investors, according to the report.(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.)

Nikkei 225TYO:7203

Asia153d ago

Market Chatter: MinebeaMitsumi Expands Cambodia Operations With New Lidar Plant

MinebeaMitsumi (TYO:6479) plans to develop Cambodia into a strategic production hub, using a new plant to export lidar components for autonomous driving systems to the U.S, Nikkei reported Tuesday.The facility in Pursat province has begun partial operations, with output set to rise alongside demand for high-precision sensors, according to the report.The company aims to move beyond a "Thailand plus one" approach, even as border disruptions with Thailand raise logistics costs, the report said.It is seeking alternative suppliers in Vietnam and China, while maintaining stable operations at its Cambodian sites, according to the report.(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.)

TYO:6479

Asia153d ago

Lumos Diagnostics Receives $5 Million Prepayment From US Distribution Partner, Shares Up 3%

Lumos Diagnostics (ASX:LDX) has received a $5 million prepayment for product from US distribution partner PHASE Scientific, confirming that the US Food and Drug Administration's 510(k) clearance with CLIA waiver for FebriDx product satisfies the milestone requirements of the PHASE distribution agreement, according to a Tuesday Australian bourse filing.The company said the $5 million represents a prepayment for future sales and will be recorded as revenue when the product is shipped, the filing added.The company's shares rose 3% in recent Tuesday trade.

ASX:LDX

Asia153d ago

Market Chatter: Shiseido, Lululemon Gain in China by Targeting High-End Segment

Foreign brands such as Shiseido (TYO:4911) and Lululemon Athletica are finding growth in China by focusing on premium products despite weak consumer spending, Nikkei reported Tuesday.At the China International Consumer Products Expo, companies highlighted high-end offerings, betting on resilient demand in the luxury segment even as overall consumption slows, according to the report.Brands like Procter & Gamble are also pushing upscale lines, while China's luxury market has contracted in recent years amid economic pressures, the report said.Still, rising interest in fitness and outdoor activities is boosting select players, even as foreign firms face tougher competition from improving local brands, according to the report.(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.)

TYO:4911

Asia153d ago

Market Chatter: Japan PM Seeks Momentum on Constitutional Changes

Japan PM Sanae Takaichi urged her ruling party to speed up discussions on constitutional reform, a push that could reshape Japan's security posture but risks losing public backing without broader support, Bloomberg reported Monday."I hope that we can go into next year's party congress saying that there is a clear prospect for initiating constitutional revision," Takaichi said at a party meeting. She called for setting out a vision of Japan's future and committing it to a new constitutional framework, according to the report.Her remarks came as tensions in the Middle East intensified after US President Donald Trump warned of a full naval blockade of the Strait of Hormuz, raising concerns for Japan, which depends heavily on energy imports from the region.Takaichi has resisted sending ships to the strait, citing constitutional limits that restrict overseas military action unless Japan is directly attacked. The stance has helped her avoid involvement in a conflict that lacks United Nations backing and has limited domestic support, even as it draws frustration from Washington, according to the report.(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.)

Nikkei 225

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