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Precision Tsugami's Full-Year Profit Jumps 40%; Declares Final Dividend

Precision Tsugami (China) (HKG:1651) recorded a 39.9% rise in attributable profit for the year ended March 31 to 1.09 billion yuan from 782.4 million yuan a year prior, according to a Monday filing with the Hong Kong bourse.Earnings per share climbed to 2.97 yuan from 2.07 yuan in the corresponding period of the last fiscal year.Revenue for the high precision machine tool manufacturer rose 21.6% to 5.18 billion yuan from 4.26 billion yuan a year prior.The company recommended a final dividend of HK$0.90 per share for the year, payable Sept. 16 to shareholders of record as of Aug. 26.

HKG:1651

Asia36d ago

State Support for China's Securities Firms Turns More Selective, Says Fitch

Fitch Ratings said shareholder support for Chinese securities firms is becoming increasingly selective amid state-led consolidation and economic restructuring.Support will depend more on strategic relevance rather than mere ownership, with firms that integrate group resources and advance national policy goals ranking higher, according to a weekend research note.Recent mergers, including Guotai Junan's combination with Haitong and CICC's upcoming integration of Cinda and Dongxing, highlight the accelerating tiering trend, the rating agency said. Local governments are similarly consolidating regional platforms.As China transitions from debt-driven growth, capital markets will play a larger role in financing and risk resolution."This should raise firms' policy relevance, given their ability to deploy equity-linked financing tools, support state capital efficiency, facilitate problem-asset restructuring and channel funding to strategic sectors," Fitch said.

Shanghai Composite^SZSE

Asia36d ago

Mazda Motor Mazda Secures 70 Billion Yen Subordinated Loan to Refinance Existing Debt

Mazda Motor (TYO:7261) has secured a 70 billion yen subordinated loan, with a July 21 execution date, from six lenders to refinance an existing subordinated loan of the same amount, according to a Tokyo bourse filing on Monday.The new 60-year facility matures in July 2086, carries an expected 50% equity credit rating from Rating and Investment Information, according to a Tokyo bourse filing on Monday.The existing loan will be repaid early on the same date, while the new agreement mandates replacement financing with comparable equity credit within 12 months-a requirement that may be waived after 2031 under certain financial conditions.The refinancing aims to comply with replacement restrictions, diversify funding sources, and strengthen Mazda's financial position without diluting common stock.

TYO:7261

Research36d ago

BMO Capital Upgrades Casey's General Stores to Outperform From Market Perform, PT is $950

Casey's General Stores (CASY) has an average rating of overweight and mean price target of $950.82, 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)

$CASY

Research36d ago

Iwai Cosmo Starts Osaka Gas at Outperform with 6,800 Yen Price Target

Osaka Gas (TYO:9532) has an average rating of buy and mean price target of 6,291.67 yen, 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)

TYO:9532

Asia36d ago

Nomura Adjusts LG Display's Price Target to KRW16,000 From KRW17,000, Keeps at Buy

LG Display (KRX:034220) has an average rating of overweight and mean price target of 14,700 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:034220

Oil & Energy36d ago

Hormuz Shipping Traffic Slumps Again After Fresh Attacks Against Commercial Vessels

Commercial traffic through the Strait of Hormuz fell again after two vessels came under attack late last week, renewing safety concerns along the strategically vital waterway, according to ship tracking data.Traffic along the Strait stood at just five over the past 24 hours, according to the Hormuz Strait Monitor, marking a sharp decline from last week, when figures reached their highest levels, at over 50 vessels, since the conflict began in late February.Several vessels conducted open transits over the weekend, meaning they traversed the Strait with their transponders on, according to a Bloomberg report. This included two very large crude carriers, which made their way into the Persian Gulf without any cargoes, along with a French-flagged container ship and two other laden oil tankers, which left the inland sea.However, a dozen others abandoned their crossings after a Singapore-flagged container ship was attacked, along with a Qatari oil tanker, prompting the UK's Joint Maritime Information Center to once again raise its threat level to "substantial" on Sunday.The Bloomberg report also noted that certain ships took alternative routes, with an Aframax tanker sailing between Iran's Qeshm and Larak islands, before moving to the middle of the Strait.This was despite the United Nations International Maritime Organization warning on Friday that there were about 80 mines in the historic, central lanes of the strategically vulnerable chokepoint.Despite this fresh uncertainty, Middle Eastern producers continued to plough through with oil and liquefied natural gas loadings, with Iran itself accelerating loadings after Washington waived sanctions on its exports for a period of 60 days, according to a Reuters report, citing ship tracking data.Besides the several VLCCs that have made their way into the Persian Gulf in recent days, Qatar and the UAE have continued to load LNG tankers, despite the latest strikes and uncertainties in the region, according to Kpler data.

Asia Markets36d ago

US Equity Investors to Watch Out for Big-Tech Performance This Week While Awaiting Nonfarm Payrolls, Warsh's Speech

US equity investors will focus this week on the performance of Big-Tech shares amid nonfarm payrolls, Federal Reserve Chair Kevin Warsh's speech, and crude oil prices.* Last week on Friday, the Nasdaq Composite closed at about 25,297.62, down from 26,517.93 a week earlier, a decline of about 4.8%. All Magnificent-7 stocks ended the week lower, hitting the Nasdaq disproportionately compared with the S&P 500 and the Dow Jones Industrial Average, according to data compiled by Finviz. The three worst-performing stocks among companies with a market capitalization above $200 billion were Arm (ARM), Western Digital (WDC), and Oracle (ORCL), the data showed.* After an inflation report last week showed the personal consumption expenditures, or PCE, price index grew at the fastest pace since April 2023 on an annual basis in May, investors will watch nonfarm payrolls to gauge the state of the labor market and its potential impact on policy under the newly minted Warsh. Other macroeconomic data likely to garner attention includes ISM manufacturing, JOLTS job openings, and initial jobless claims.* Chair Warsh is expected to deliver a speech on Wednesday, which will be parsed closely for his views on last week's inflation print. Following the Fed's monetary policy meeting in June, the CME FedWatch tool shows a 41% probability that the target rate for fed funds will be in the 3.75% to 4% range from 3.5% to 3.75%. There is 29% likelihood the Fed will raise rates twice by 25 basis points each, as Warsh seemed to lean hawkish at the press briefing following the policy announcement.* The front-month West Texas Intermediate crude oil futures stood at $69.98 early Monday, trading close to levels seen around the beginning of the attack on Iran. The US and Iran will "stand down for now," a Trump administration official said after both sides traded fire near the Strait of Hormuz, CNN reported. Technical talks with Iran remain "on track," a US official told CNN.

Dow JonesNasdaq CompositeS&P 500$ARM$ORCL$WDC

Mining & Metals36d ago

Bombardier Cuts Debt as Redeems Debentures Due 2026

Bombardier (BBD-B.TO) has redeemed all outstanding C$150 million of 7.35% debentures due 2026.Including this recent redemption, the aircraft manufacturer has cut debt by more than C$1.1 billion in 2026, the company said Friday.

$BBD-A.TO$BBD-B.TO

Asia36d ago

AEON REIT to Offload Aged Logistics Building for 103 Million Yen

AEON REIT Investment (TYO:3292) is selling a portion of its 48-year-old Daiei-Ibaraki Process Center to AEON Food Supply for 103 million yen, with the transaction closing July 1, as part of a broader redevelopment plan for the Osaka logistics hub.The buyer plans to demolish the building around July 2026 and construct a new facility, with completion targeted for July 2029, while the REIT retains land ownership and will collect ground rent throughout the period.The sale, structured as an interested-party transaction given the buyer's AEON Group affiliation, underwent third-party committee oversight to ensure governance compliance, according to a Tokyo bourse filing on Monday.

TYO:3292

Asia36d ago

MS&AD Insurance Group's Attributable Income Jumps 70% in Fiscal Year

MS&AD Insurance Group (TYO:8725) net income attributable to owners of the parent jumped 70.1% to 510.6 billion yen for the fiscal year ended March 31 from 300.1 billion yen a year earlier.The insurer's basic earnings per share increased to 342.98 yen from 193.36 yen a year ago, according to a Tokyo bourse filing on Monday.Insurance revenue jumped 8.2% to 6.436 trillion yen from 5.950 trillion yen in the prior year.It declared a final dividend of 82.50 yen per share for fiscal 2025.For the fiscal year ending March 31, 2027, the company expects attributable net income of 425 billion yen and basic EPS of 292.91 yen.The company plans to pay interim and year-end dividends of 85 yen per share each, which is higher than the dividends declared in the year-ago period.

TYO:8725

Commodities36d ago

Update: Market Chatter: Williams in Late-Stage Talks to Acquire Momentum Midstream for About $5.5 Billion

(Updates last paragraph to note EnCap Flatrock Midstream's response.)Williams (WMB), the Oklahoma-based energy infrastructure company, is in late-stage discussions for an approximately $5.5 billion deal for the acquisition of Momentum Midstream, the Texas-based natural gas pipeline operator, Bloomberg reported Sunday, citing undisclosed sources.The company is negotiating the acquisition from private equity firm EnCap Flatrock Midstream in what the report termed as potentially one of its largest deals yet.An announcement regarding the transaction could be expected in about a week, although a final decision has not been taken yet, the report said.A deal would add to Williams' existing pipeline infrastructure comprising over 30,000 miles of pipelines, and allow the company to transport more natural gas from the Haynesville fields in east Texas and northern Louisiana to US Gulf Coast export terminals, the report said.EnCap Flatrock Midstream declined to comment.has also reached out to Williams for a comment.(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.)

$WMB

Asia36d ago

Singapore Shares Rise as US-Iran Agree to Halt Attacks

Singapore shares closed in green on Monday as investor sentiment improved following the US and Iran decision to hold back on their attacks.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,177.84 and 5,209.80 throughout the day. It ended the session at 5,208.75, up 17.02 points or 0.3% compared to Friday's close.In economic news, factory-gate prices in Singapore rose in May, with the Domestic Supply Price Index edging up 34.2% year over year, while the Singapore Manufactured Products Price Index grew 30.8%, according to the Singapore Department of Statistics.On the corporate front, shares of Metech International (SGX:V3M) surged over 9% at the close as it signed two separate subscription agreements to raise over SG$4 million via the subscription of 100 million shares at SG$0.040 per share.XMH Holdings (SGX:BQF) closed nearly 6% higher as it revealed plans for a share split of one-to-four based on a weighted average price per share of SG$2.2709.Meanwhile, shares of Keppel (SGX:BN4) were up under 1% at the close as its land dispute in Jakarta was escalated to the Supreme Court of Indonesia after the claimant, Trumpal Hutabarat, filed a cassation appeal, following the South Jakarta District Court's earlier ruling that made his lawsuit over the land underlying IFC Jakarta Tower 2 inadmissible.

^STISGX:BN4SGX:BQFSGX:V3M

Asia36d ago

KDX Realty Investment Locks In 3 Billion Yen Fixed-Rate Loan

KDX Realty Investment (TYO:8972) has finalized a 3 billion yen unsecured, unguaranteed fixed-rate borrowing at 2.23584% from Mizuho Bank.The new loan drawdown is scheduled for July 1, 2026 and full principal repayment due Oct. 31, 2031, according to a Tokyo bourse filing on Monday.

TYO:8972

Research36d ago

Wells Fargo Downgrades Progressive to Underweight From Equalweight, Adjusts PT to $205 From $219

Progressive (PGR) has an average rating of hold and mean price target of $232.86, 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)

$PGR

Mining & Metals36d ago

Leading Edge Materials Gets 25-Year Mining Lease for Norra Karr Rare Earths Project

Leading Edge Materials (LEM.V) on Sunday said its Swedish subsidiary GREENNA Mineral has received a 25-year mining lease for the Norra Karr heavy rare earth elements project in Sweden.The exploitation concession from the Swedish government follows confirmation from the Geological Survey of Sweden that the project is one of Europe's richest rare earth elements deposits, and the government said obtaining supply from the project outweighs competing land-use interests.Leading Edge will now work on an updated pre-feasibility study and advance the environmental permitting process.

$LEM.V

Asia36d ago

Nexon to Book 373 Billion Dividend from Korean Unit

Video game developer Nexon (TYO:3659) will receive 373.5 billion yen in surplus dividends from its consolidated subsidiary, Nexon Korea, following a decision on June 29.The amount will be recorded as non-operating income in Nexon's standalone accounts for the year ending Dec. 31, according to a Tokyo bourse filing on Friday.However, since the dividend originates from a consolidated subsidiary, it will have no impact on the company's consolidated earnings for the same period.

TYO:3659

Asia36d ago

Shenergy Plans to Issue Wind Power REIT

Shenergy (SHA:600642) plans to issue the Dongfanghong Shenergy New Energy Closed-End Infrastructure Securities Investment Fund, according to a Shanghai bourse filing on Saturday.The Chinese power company's shares rose 2% at the close of Monday's trade.The underlying asset for the initial REIT offering will be Wulan County Huayang Shengyuan New Energy's 200-megawatt wind power project in Wulan County, Haixi Mongolian and Tibetan Autonomous Prefecture, Qinghai Province, China. The project has a finalized investment of 1.56 billion yuan.The company will own Shenergy REIT through its subsidiary, Shenergy New Energy (Qinghai).Shanghai Orient Securities Asset Management will serve as the fund manager of the REIT and plans to appoint Shanghai Shenergy New Energy Investment to provide operational management services for the Wulan Wind Power Project.

SHA:600642

Commodities36d ago

Germany Awards Contracts After Oversubscribed Tender for Onshore Wind, Solar, Storage

Germany's Federal Network Agency awarded contracts to 270 bids for the installation of 2,499 megawatts of wind, solar and storage capacity in a May tender, it said late last week.The tender was significantly oversubscribed with a total of 628 bids received with a capacity of 6,409 MW.Values were set at between 0.0444 euro cents ($0.051) per kilowatt-hour to 0.0519 euro cents, making for a volume-weighted reduction compared with the previous tender to 0.0506 euro cents per kilowatt hour, versus 0.0554 euro cents, the agency said.The average award price is now more than 2 euro cents lower per KWh than a tender in Aug. 2024, reflecting a steady downward trend over multiple tenders in that period.Most awards were made for sites in Lower Saxony, with a total of 70 made for the provision of 628 MW of capacity. That was followed by Brandenburg were 47 awards were made to provide 468 MW. In North Rhine-Westphalia, 353 MW were awarded to 31 bidders.The agency awarded contracts for 482 MW of solar and energy storage systems to 27 bidders under its 'innovation' tender. The winning bids ranged in price from 0.0475 euro cents per KWh to 0.0561 euro cents per KWh, the statement said.More than half of these awards were for projects in Bavaria, with 287 MW to be built via 15 contracts offered.The next tender, for onshore wind turbines, will take place on Aug. 1, the agency said.

Equities36d ago

Eco (Atlantic) Oil & Gas Receives Approval for Namibian License Farm-out

Eco (Atlantic) Oil & Gas (ECO.L) received ministerial approval in Namibia for an assignment related to the farm-out of its 85% participating interest in Petroleum Exploration License 98.The farm-out, to wholly Namibian-owned company Lamda Energy, was approved by the Ministry of Industries, Mines and Energy, according to a Monday filing. The oil and gas company said the farm-out is expected to be completed shortly as the approval was the final remaining required government consent.

$ECO.L

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Asia Markets36d ago

US Equity Investors to Watch Out for Big-Tech Performance This Week While Awaiting Nonfarm Payrolls, Warsh's Speech

Dow JonesNasdaq CompositeS&P 500$ARM$ORCL$WDC