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Barclays Downgrades Public Storage to Equalweight From Overweight, Maintains $349 Price Target

Public Storage (PSA) has an average rating of overweight and mean price target of $332.40, 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)

$PSA

Asia28d ago

China Drops Urban Job Creation Target as AI Reshapes Labor Market

For the first time in at least three decades, China's 15th Five-Year Plan omitted a numeric target for urban job creation as the country grappled with the integration of artificial intelligence across its economy.Accelerating industrial transformation and population structure changes pose "new challenges to economic development and social governance," China's Ministry of Human Resources and Social Security said in a Thursday news release.The plan calls for assessing AI's effects on employment while introducing policies and initiatives to support job creation. It also emphasizes strengthening vocational training and expanding the workforce for AI-related occupations.

Shanghai Composite^SZSE

Asia28d ago

Nitto Denko Repurchases 11 Billion Yen Shares in June

Nitto Denko's (TYO:6988) repurchased 3.6 million common shares between June 1 and June 30 through open market repurchases for 10.94 billion yen, according to a Friday filing on the Tokyo Stock Exchange.The repurchases are part of an ongoing share buyback program originally authorized by the board of directors on March 30. The program permits the acquisition of up to 20 million shares at a purchase price of up to 50 billion yen.With this, Nitto Denko has repurchased over 9.4 million shares to date for 29.44 billion yen. The buyback launched on April 8 and runs through Aug. 31.

TYO:6988

Research28d ago

Evercore ISI Downgrades Travelers to In Line From Outperform, Adjusts Price Target to $329 From $321

Travelers (TRV) has an average rating of hold and mean price target of $328.83, 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)

$TRV

Asia28d ago

China Includes Two Mayinglong Pharmaceutical Products in Essential Medicines List

Authorities in China added two Mayinglong Pharmaceutical's (SHA:600993) eye cream and tofacitinib tablets to the country's essential drugs list, according to a Friday filing with the Shanghai bourse.The Ma Yinglong Eight Treasures Eye Ointment is a traditional Chinese formulation that relieves redness and itching.Tofacitinib is a pain reliever indicated for rheumatoid and psoriatic arthritis, as well as ankylosing spondylitis.

SHA:600993

Commodities28d ago

Halliburton Deploys Automation System Offshore Indonesia, Reports Efficiency Boost

Oil service company Halliburton (HAL) has deployed its Logix automation and remote operations system at a deepwater exploration well in partnership with Eni (E), offshore Indonesia, boosting efficiency, it said on Thursday.The company said the deployment resulted in a number of industry firsts and advances closed loop drilling automation, with the system having demonstrated performance in a large-scale complex offshore environment.This was the first deployment of full rig automation with managed pressure drilling in Asia Pacific, Halliburton said in a statement. It combined rig surface equipment, automated well placement, downhole hydraulics and MPD controls into a connected, closed-loop automated system.The Logix Orchestration system coordinated the drilling and tripping execution in a single process. Normally the management of these processes would be handled separately, it said.The system's use delivered consistent performance and reliable pressure control in wells with narrow operating margins.Eni brought its operational expertise to the project while Halliburton contributed experience with automation solutions to align drill floor control, sub surface automation and pressure management in a single system, the statement said.There was a resulting 15% efficiency gain, Halliburton said.

$E$HAL

Asia28d ago

Grandtop Yongxing Chairman Retires

Grandtop Yongxing (SHA:601033) Chairman Zhang Xueqiu stepped down effective Thursday after reaching retirement age, according to a Friday filing with the Shanghai bourse.Director Zhu Xiaofeng will become acting chairperson until the election of Zhang's successor.

SHA:601033

Asia28d ago

Furuno Electric's Profit Jumps 38% in Fiscal Q1

Furuno Electric's (TYO:6814) profit attributable to owners of the parent surged 38% to 4.88 billion yen for the fiscal first quarter from 3.53 billion yen a year earlier.The electronics company's basic earnings per share increased to 154.44 yen from 111.75 yen a year ago, according to a Tokyo bourse filing on Friday.Net sales jumped 22% to 38.1 billion yen for the three months ended May 31 from 31.3 billion yen in the prior-year period.For the fiscal year ending Feb. 28, 2027, the company expects attributable profit of 13 billion yen, basic EPS of 411.28 yen, and net sales of 148.5 billion yen.Furuno Electric plans to pay interim and year-end dividends of 80 yen per share, each, for the year, which is higher than the amounts paid in the year-ago period.

TYO:6814

Asia28d ago

Pan Pacific International's Total Sales Slip 0.7% in June

Pan Pacific International's (TYO:7532) total sales in June slipped 0.7%, while the average customer spending rose 1.7%, according to a Friday filing on the Tokyo Stock Exchange.All store sales gained 1.5% on the year as the store count went up to 677 compared with 655 last year.Domestic retail sales fell year on year on unfavorable weather, including typhoons, and lower-than-usual temperatures led to weak customer traffic, with one fewer holiday.The discount store business sales were down 0.1%, while the "UNY" business sales fell 2.7%.

TYO:7532

Asia28d ago

Daicel and Formosa Plastics to Form Joint Venture in Taiwan for Semiconductor Chemicals

Daicel (TYO:4202) will establish a 50:50 joint venture with Formosa Plastics in Kaohsiung City, Taiwan, to manufacture and sell chemical products for the semiconductor industry, according to a Tokyo bourse filing on Friday.The new company, tentatively named Formosa Daicel Advanced Chemicals, is expected to be established in October with a capital of NT$800 million and will become a consolidated subsidiary of Daicel.The joint venture aims to combine both companies' technological capabilities, sales expertise, and business networks to enhance customer services and expand business domains amid growing global semiconductor demand.

TYO:4202

Asia28d ago

OSG's Six-Month Net Income Soars 93%

OSG's(TYO:6136) net income attributable to owners of the parent rose 93% to 12.5 billion yen for the semi-annual period ended May 31 from 6.48 billion yen a year earlier.The tool manufacturer's earnings per share increased to 134.61 yen from 68.31 yen a year ago, according to a Tokyo bourse filing on Friday.Net sales jumped 19% to 92.1 billion yen for the six months ended May 31 from 77.4 billion yen in the prior-year period.In a separate filing, OSG raised its forecasts for the fiscal year ending Nov. 30, citing better-than-expected semi-annual performance.The company now expects net income attributable to owners of parent of 21 billion yen from 15.4 billion yen initially, net income per share of 255.60 yen from 187.46 yen, and net sales of 185 billion yen from 165 billion yen.OSG plans to pay a year-end dividend of 76 yen per share for the current fiscal year, which is higher than the 60 yen year-end dividend paid in the year-ago period.

TYO:6136

Japan28d ago

US 10-Year Treasury Yield Steady at 4.54%, 2-Year Yield Little Changed at 4.17% Early Friday

Treasury28d ago

US Treasury Yields Steady Early Friday as Washington Expresses Commitment to Iran Peace Talks After 2 Nights of Iran Attacks

Commodities28d ago

Chevron, Alinta Energy Ink 5-Year Domestic Gas Supply Deal

Chevron's (CVX) Australian affiliate has secured a long-term sale and purchase agreement with Alinta Energy, supplying 46 petajoules of natural gas over five years starting July 2027, the energy major said on Friday.Commencing in mid-2027, the volume will be pulled from Chevron's equity stakes in major Western Australian LNG and domestic gas facilities, it stated.The volumes will be drawn directly from Chevron-operated Gorgon and Wheatstone facilities alongside the North West Shelf Project.The agreement highlights the continuing efficacy of Western Australia's domestic gas reservation policy, which mandates that export-focused LNG projects retain a portion of their resources for local consumption.

$CVX

Asia28d ago

Indian Bank's Consolidated Net Profit Soars in Fiscal Q1; Shares Jump 10%

Indian Bank's (NSE:INDIANB, BOM:532814) consolidated net profit jumped to 33.6 billion Indian rupees in the fiscal first quarter ended June 30, from 22.8 billion rupees a year ago.Earnings per share climbed to 24.92 rupees from 16.90 rupees a year ago, according to a Friday filing to the Indian stock exchanges.Interest earned by the lender in fiscal Q1 also increased to 181 billion rupees from 162.9 billion rupees a year earlier.The bank's shares jumped nearly 10% in recent trade.

BOM:532814NSE:INDIANB

Asia28d ago

ASE Technology Unit Bags Facility Engineering Deals Worth NT$514 Million

ASE Technology's (TPE:3711) packaging and testing unit Siliconware Precision Industries awarded facility engineering contracts worth NT$513.7 million to Chung Yuang Electrical Consulting.The contracts were signed between July 8 and July 10, and will run through Dec. 31, 2028, according to a Friday Taiwan Exchange filing.The deals are intended to support Siliconware Precision Industries' production and operational requirements, it said.

TPE:3711

Asia28d ago

Market Chatter: Bank of Korea Governor Signals Rate Hike amid Elevated Inflation

Shin Hyun-song, governor of the Bank of Korea, said that a base rate hike may be required at an appropriate time, as inflation remained above target and other financial risks, Yonhap News reported Thursday, citing Shin from a session at the National Assembly.Shin said that the South Korean economy is expected to remain resilient ahead, supported by the semiconductor cycle and easing Middle East tensions.Shin expects inflation to remain elevated for some time despite lower geopolitical risks, while the Bank of Korea continues to assess broader structural issues, which comprise demographic changes and climate issues, the report 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.)

^KOSDAQKOSPI

Research28d ago

Soochow Securities Starts Antengene at Buy With HK$10.60 Price Target

HKG:6996

Research28d ago

ICICIdirect.com Starts Muthoot Microfin at Buy With INR270 Price Target

BOM:544055NSE:MUTHOOTMF

Research28d ago

Nirmal Bang Institutional Equities Upgrades Balkrishna Industries to Buy From Hold; Price Target is INR2,541

Balkrishna Industries (NSE:BALKRISIND, BOM:502355) has an average rating of hold and mean price target of 2,281.42 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:502355NSE:BALKRISIND

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