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Macrolink Culturaltainment Development to Avail of Property Management Services from Former Subsidiary

Macrolink Culturaltainment Development (SHE:000620) is looking to sign a 24.1-million-yuan master service agreement with Beijing Yuehao Property Management, according to a Thursday filing with the Shenzhen bourse.The company will avail of property management services from Yuehao, a unit indirectly held by the listed company's former subsidiary New Silk Road Holding.

SHE:000620

Asia1d ago

KB Financial Plans 270 Billion Won Issuance of Amortized Hybrid Securities

KB Financial's (KRX:105560) board approved the issuance of up to 270 billion won in domestic unsecured amortized contingent capital securities on Thursday, to bolster its BIS capital adequacy ratio by expanding additional Tier 1 capital.The proceeds will be used for debt repayment, and the final issuance amount and interest rates will be determined based on future demand forecasting results within the 400 billion won board-approved limit.The perpetual securities feature a five-year call option, subject to regulator's approval, and under conditions that maintain sufficient capital levels, according to a bourse filing on Thursday.

KRX:105560

Asia1d ago

Shinhan Financial Group's Net Attributable Income Rises in Q2

Shinhan Financial Group (KRX:055550) posted second-quarter net income attributable to shareholders of 1.820 trillion won, up 18% from 1.549 trillion won a year earlier, according to a Thursday filing with the Korea Exchange.Sales jumped 7.9% year over year to 25.1 trillion won from 23.2 trillion won.The company declared a Q2 dividend of 740 won per share. The dividend will be paid on Aug. 28 to shareholders as of the record date of July 30.Shares of Shinhan Financial Group fell nearly 1% at market close.

KRX:055550

Commodities1d ago

US Jet Fuel Demand Hits Record High as FIFA World Cup Spurs Air Travel

US jet fuel demand climbed to a record high in the week ended July 17, according to data from the US Energy Information Administration.Total US jet fuel supplied for the week neared 2.15 million barrels per day, up from 1.76 mmbbl/d the prior week, and 1.68 mmbb/d during the same period last year, EIA data showed. It also surpassed the prior weekly record of 2.11 mmbbl/d in December 2017.This surge was supported by the FIFA World Cup, as fans shuttled between New York, New Jersey, and other major venues, according to a Reuters report, citing UBS oil analyst Giovanni Staunovo.On July 19, the day of the tournament's final match between Spain and Argentina, more than 2.9 million passengers passed through airport security checkpoints, up from 2.5 million the day prior, Reuters reported, citing the US Transportation Security Administration.This was in part due to the World Cup being hosted across three different countries and 16 venues in the US, Mexico and Canada, leading to significant demand for air travel, according to Reuters, citing IATA.

Asia1d ago

Ennoconn's Attributable Profit Soars 81% in June

Ennoconn (TPE:6414) posted an attributable profit of NT$370 million for June, shooting up 81% from a year earlier.June earnings per share rose 69% year over year to NT$2.52, according to a Thursday Taiwan Exchange filing.Meanwhile, revenue for the month surged 57% annually to NT$17.7 billion.

TPE:6414

Research1d ago

Orient Securities Starts Trip.com Group at Add with HK$373.42 Price Target

Trip.com Group (HKG:9961) has an average rating of buy and mean price target of HK$468.83, 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)

HKG:9961

Equities1d ago

UBS Upgrades Paladin Energy to Buy from Neutral; Price Target is AU$11.70

Paladin Energy (ASX:PDN) has an average rating of overweight and mean price target of AU$12.49, 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)

ASX:PDN

Asia1d ago

Jefferies Downgrades Cochlear to Hold from Buy; Price Target is AU$128.40

Cochlear (ASX:COH) has an average rating of hold and mean price target of AU$127.13, 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)

ASX:COH

Asia1d ago

Barrenjoey Markets Downgrades Arena REIT to Neutral from Overweight; Price Target is AU$3.35

Arena REIT (ASX:ARF) has an average rating of overweight and mean price target of AU$3.95, 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)

ASX:ARF

Asia1d ago

China Asks UK to Treat Chinese Business Firms Fairly

Chinese Foreign Minister Wang Yi called on the U.K. to ensure fairness in the treatment of Chinese firms operating in the country, Xinhua News Agency reported Thursday, citing remarks made on the sidelines of the ASEAN Foreign Ministers' Meeting in Manila, Philippines.Wang met with his British counterpart Ed Miliband to ask London to avoid imposing security measures on economic and trade issues.

Shanghai Composite^SZSE

Asia1d ago

Anhui Expressway, Units Enter Expressway Toll Card Cost Sharing Agreement

Anhui Expressway (HKG:0995, SHA:600012), along with seven units, entered into agreements to share the issuance costs of expressway electronic toll collection cards incurred by Anhui Traffic Intelligence Technology.The costs will be apportioned among expressway operators in Anhui Province on a quarterly basis.The amount and sharing ratio will be calculated based on the number of cards issued and the proportion of toll revenues of each expressway operator.

HKG:0995SHA:600012

Asia1d ago

KB Financial Authorizes 700 Billion Won Treasury Stock Buyback via Trust Contract

KB Financial's (KRX:105560) board approved a 700 billion won treasury stock acquisition through a trust contract with Samsung Securities (KRX:016360) on Thursday, according to a bourse filing on the same day.The buyback program runs from July 24 to Dec. 16, targeting approximately 3.99 million common shares at a reference price of 175,100 won per share, based on the July 22 closing price.The company currently holds 3.58 million treasury shares within the dividend-available limit and 19.8 million shares indirectly through existing trust contracts, for a total of about 22.9 million shares.All shares acquired under the new trust contract are expected to be retired within one year after the contract period ends.The acquisition remains within the company's 1.14 trillion won limit of distributable profits as of the previous fiscal year-end.

KRX:016360KRX:105560

Asia1d ago

Goldenmax to Invest 2 BIllion Yuan to Construct Copper-Clad Laminate Production Facility

Goldenmax International Group (SHE:002636) will invest 2 billion yuan to construct and expand a production facility for copper-clad laminates and prepreg for the Zhuhai City government in China, according to a Thursday filing with the Shenzhen bourse.The company will construct the facility on a 35,000-square-meter plot in Zhuhai with a land use term of 50 years.The facility will have a capacity of 20 million copper-clad laminates and 40 million meters of prepreg to meet market demand.

SHE:002636

Asia1d ago

Shanjin International Gold Sees No Reason for Recent Stock Price Deviation

Shanjin International Gold (SHE:000975) did not record any significant changes in its operating conditions amid a deviation of its stock price, according to a Thursday filing with the Shenzhen bourse.The gold mining company's closing price deviated by more than 20% across three straight trading sessions from July 20 to July 22.Following an internal investigation and verification with its controlling shareholder and actual controller, the company said it has no undisclosed material information, plans, or negotiations that may have had a significant impact on its stock price.Shares close 1% higher on Thursday.

SHE:000975

Mining & Metals1d ago

Teck Resources Reports Jump in Q2 Adjusted Profit YoY

Teck Resources (TECK-A.TO) reported second-quarter adjusted profit of C$948 million, or C$1.93 per share, up from C$187 million, or C$0.38 per share, in the year-ago quarter.Analysts polled by FactSet expected C$1.35.Revenue for the quarter was C$3.61 billion, up from C$2.02 billion, the company reported Thursday.Analysts expected C$3.39 billion.

$TECK-A.TO$TECK-B.TO

Asia1d ago

KB Financial's Profit Jumps 15% in Q2

KB Financial's (KRX:105560) profit attributable to owners of the parent climbed nearly 15% to 1.992 trillion won for the second quarter from 1.738 trillion won a year earlier.The company's sales jumped 31% to 31.757 trillion won for the three months ended June 30 from 24.2 trillion won in the prior-year quarter, according to a Korea Exchange filing on Thursday.For the first half, attributable profit rose 13% to 3.885 trillion won from 3.436 trillion won, while cumulative net sales surged 42% to 62.456 trillion won from 43.944 trillion won.In a separate disclosure, KB Financial declared a quarterly cash dividend of 1,155 won per share for the quarter, with a record date of Aug. 7. The payout date was not disclosed.

KRX:105560

Asia1d ago

Market Chatter: SK Hynix Sets Upper Limit for ADR Conversion at 2.5% of Outstanding Shares

SK Hynix (KRX:000660) capped the conversion of its Korea-listed shares into U.S.-traded American depositary receipts (ADRs) at 2.5% of total outstanding shares, Bloomberg News reported Thursday, citing the Korea Securities Depository.The limit has already been fully utilized through the chipmaker's $26.5 billion ADR offering, which was concluded on July 10, the report said.Investors will be able to convert Korean shares into ADRs only when existing ADR holders convert them back into Korean shares. The ADR issuance and cancellation books will remain closed until July 29, it said.SK Hynix did not immediately respond to' request for comment.Shares of the chipmaker jumped nearly 5% at market close.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumors and speculation. Accuracy is not guaranteed.)

KRX:000660

Asia1d ago

Tyntek's Unit Buys 83 Million Yuan of Structured Deposits

Tyntek's (TPE:2426) subsidiary, Tynopto (Wuhan), acquired structured deposits totaling 83 million yuan from Industrial Bank between April 23 and July 23, according to a Thursday filing with the Taiwan Exchange.The purchases were made for investment and financial products, funded via owned funds and paid in full, the semiconductor components maker said.

TPE:2426

Research1d ago

Deutsche Bank Downgrades M&T Bank to Hold From Buy, Price Target is $250

M&T Bank (MTB) has an average rating of hold and mean price target of $255.19, 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)

$MTB

Research1d ago

RBC Downgrades Northern Trust to Sector Perform From Outperform, Price Target is $178

Northern Trust (NTRS) has an average rating of hold and mean price target of $183.96, 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)

$NTRS

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