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Market Chatter: Baidu's AI Chip Arm Eyeing $50 Billion Hong Kong IPO

Baidu's (HKG:9888) semiconductor division, Kunlunxin, is preparing for a Hong Kong listing at a target valuation of $50 billion, Reuters reported Monday, citing The Information.The publication said Kunlunxin is asking potential investors to purchase additional chips worth several times their intended IPO subscription amount.These developments come alongside Momenta's separate listing plans, which feature Mercedes and GIC as cornerstone backers, said the publication.Baidu didn't immediately respond to MT Newswire's request for 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.)

HKG:9888

Asia36d ago

Tokyu Lowers Convertible Bond Prices Following Dividend Approval

Tokyu (TYO:9005) has reduced the conversion prices on its zero-coupon bonds, effective April 1, with the 2028 issue moving from 2,110.4 yen to 2,093.4 yen and the 2030 issue from 2,020.0 yen to 2,003.7 yen.The adjustments stem from a total annual dividend of 30 yen per share for fiscal 2026-comprising 14 yen interim and 16 yen year-end-with the year-end portion sanctioned at the June 26 shareholders' meeting, according to a Tokyo bourse filing on Friday.

TYO:9005

Asia36d ago

ANA Cuts Convertible Bond Price After Dividend Payout

ANA (TYO:9202) has lowered the conversion price on its 2031 zero-coupon bonds from 2,779.2 yen to 2,722.9 yen, according to a Tokyo bourse filing on Friday.The revision follows a 65 yen-per-share extraordinary dividend that was approved by shareholders on June 26, triggering an adjustment clause in the bond terms.

TYO:9202

Asia36d ago

Market Chatter: Honda Says Partnership With Nissan Advancing Despite Shareholder Concerns

Honda (TYO:7267) said its partnership with Nissan (TYO:7201) is progressing substantially, with President Toshihiro Mibe telling shareholders on Friday that some elements of the collaboration will be unveiled soon, Nikkei Asia reported on Monday.The two automakers, along with Mitsubishi Motors (TYO:7211), are in final-stage talks to standardize electronic control units for their upcoming vehicles, autonomous driving, and in-car information systems, the news daily said.Mibe told investors that all projects are being pursued on mutually beneficial terms, even as Honda faces tough questions over its first-ever net loss and significant cuts to its EV strategy at the annual general meeting in Tokyo, according to the report.Nissan didn't immediately respond to MT Newswire's request for 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.)

TYO:7201TYO:7211TYO:7267

Asia36d ago

Silex Systems Completes Silicon Enrichment Plant Construction

Silex Systems (ASX:SLX) completed construction of the laser-based silicon enrichment plant at its New South Wales facility, according to a Monday filing with the Australian bourse.Plant activities are focused on integrating the plant laser system and the first two silicon enrichment reactors before final plant commissioning, set for later this year, the filing said.Sample production is expected to start in the first quarter of 2027, per the filing.Shares fell 1% in morning trade on Monday.

ASX:SLX

Asia36d ago

Japanese Stocks Gain as US-Iran Tensions Ease; May Retail Sales Climb

Japanese stocks rose after reports that the US and Iran backed away from a fresh escalation that had threatened the fragile ceasefire underpinning peace talks.The Nikkei 225 climbed 249 points or 0.4% to open at 69,609.88.At home, Japan's retail sales rose 1.9% in May, following an upwardly revised April gain, with annual growth surging to 5.3% against a 3% consensus.The continued monthly increases, powered by wage growth and government cost-relief measures, mark the third consecutive month of expansion, though the figures remain unadjusted for inflation.

Nikkei 225

Asia36d ago

Market Chatter: Geely to Ship First Lotus EVs to Canada in July, Says Chinese Ambassador

Geely Automobile Holdings' (HKG:0175) Lotus brand electric vehicles are scheduled to arrive in Canada in July, Reuters reported Friday, citing China's ambassador to Canada, Wang Di.Brokered by Canadian Prime Minister Mark Carney and Chinese President Xi Jinping, the deal allows up to 49,000 Chinese-made EVs into Canada annually at reduced tariff rates, the report said.Other Chinese automakers are already working with Canadian agencies to launch their own shipments soon, Wang reportedly told Reuters.Geely and Lotus did not immediately respond to' request for 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.)

HKG:0175

Asia36d ago

Atlas Arteria Chair to Retire

Atlas Arteria (ASX:ALX) said Non-Executive Chair Debbie Goodin will retire, effective July 7, according to a Monday filing with the Australian bourse.Non-Executive Director John Wigglesworth will be appointed interim chair effective upon Goodin's retirement, per the filing.

ASX:ALX

Asia36d ago

Karoon Energy Restores Baúna Production to 20,500 Barrels Per Day, Updates Guidance, Discloses Buyback; Shares Rise 3%

Karoon Energy (ASX:KAR) said production has been restored from the SPS-92 well at Baúna following the replacement of the electrical submersible pump (ESP), according to a Monday Australian bourse filing.SPS-92 is currently producing at a rate of 8,600 barrels of oil per day (bopd), taking total Baúna Project production to around 20,500 bopd, before natural decline, the filing added.The company said a further production rise of 1,000 to 2,000 bopd is expected once the PRA-2 well is back online, with operations to reconnect the umbilical now underway.With the Baúna floating production, storage and offloading (FPSO) revitalization and major well intervention campaign now substantially complete, Karoon expects materially lower sustaining capital requirements at Baúna over the next few years, with only modest ongoing investment anticipated, excluding new growth projects, the filing added.Karoon revised its 2026 total capital expenditure guidance to $178 million to $202 million, from prior guidance of $150 million to $183 million, with Baúna expenditure revised to $89 million to $97 million from $61 million to $74 million.The company said it plans to start a third on-market share buyback in July, having bought back and cancelled 94.3 million shares at a cost of about $97 million, equivalent to an average price of AU$1.57 per share, following the completion of the second phase of its $75 million buyback program.The third phase will be conducted at a measured pace reflecting prevailing market conditions and the firm's ongoing capital requirements, and is not expected to exceed 10% of issued capital in a 12-month period. The board retains discretion over the rate, timing, and extent of purchases, it added.The company's shares rose 3% in recent Monday trade.

ASX:KAR

Asia36d ago

APRA Starts Consulting on Proposed Changes to Banks' Credit Risk Capital Settings

The Australian Prudential Regulation Authority (APRA) started consulting on proposed amendments to banks' credit risk capital settings as part of a reform package to bank capital and liquidity settings, the prudential regulator said in a statement on Monday.Key proposals include allowing a lower risk weight for large domestic public infrastructure exposures and for high-quality unrated corporate exposures, subject to certain criteria, and adjusting criteria to allow for more exposures to qualify for the lower 100% risk weight for residential property development, the regulator said.APRA plans to finalize credit risk capital changes in the second half of the year for a proposed effective date of April 1, 2027, per the statement.ANZ Group (ASX:ANZ, NZE:ANZ) shares rose marginally in morning trade in Australia.Commonwealth Bank (ASX:CBA) shares rose 1%, while National Australia Bank (ASX:NAB) were up nearly 1%.Westpac Banking (ASX:WBC, NZE:WBC) shares were up almost 1%.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC

Asia36d ago

Humm Group Says ASIC Concludes Investigations Into Cards, Commercial Businesses

Humm Group (ASX:HUM) said the Australian Securities and Investments Commission (ASIC) has informed its subsidiaries that the regulator has concluded investigations into certain matters relating to humm Cards, Flexicommercial and Flexirent Capital, according to a Monday Australian bourse filing.ASIC has indicated it will not take enforcement action at this time, but this does not imply that no breaches occurred, and it may restart its investigation or take enforcement action if circumstances change, per the filing.The regulator raised concerns over historical breach reporting and governance, reportable situation assessments, oversight of artificial intelligence credit decisioning systems, and potential unfair contract terms or unconscionable conduct in small business lending agreements, the filing said.The company has acknowledged ASIC's findings and said it is strengthening its governance and compliance frameworks, the filing added.The company's shares rose past 2% in recent Monday trade.

ASX:HUM

Asia36d ago

Champion Iron Produces Direct Reduction Quality Iron Ore From Canada Project

Champion Iron (ASX:CIA) produced direct reduction quality iron ore from its direct reduction pellet feed project at the Bloom Lake mine in Canada, according to a Monday filing with the Australian bourse.A maiden commercial sale of a Capesize vessel, containing at least 160,000 wet metric tonnes, is anticipated in the third quarter, the filing said.The project is expected to increase in capacity gradually to achieve full commercial production toward the end of the current financial year, per the filing.Shares rose 2% in morning trade on Monday.

ASX:CIA

Asia36d ago

Ramelius Resources to Sell Western Australia Gold Hub to Forrestania for AU$300 Million; Shares Up 4%

Ramelius Resources (ASX:RMS) agreed to sell its Edna May Gold Hub, including processing infrastructure and surrounding satellite tenements, to Forrestania Resources (ASX:FRS) for AU$300 million under a binding share and asset purchase agreement, according to a Monday Australian bourse filing.The consideration comprises AU$200 million in upfront cash and AU$100 million in Forrestania shares, subject to escrow and orderly sale restrictions, per the filing.The company will receive a AU$20 million deposit, with the balance payable in cash and shares on completion, subject to customary conditions, including Forrestania securing at least AU$200 million in binding equity commitments, obtaining shareholder approval, and receiving regulatory approvals and third-party consents, the filing said.Completion is targeted for the September quarter, after which the company is expected to become a substantial shareholder in Forrestania, the filing added.Ramelius Resources' shares jumped nearly 4% in recent Monday trade. Trading in Forrestania Resources' shares was halted.

ASX:FRSASX:RMS

Asia36d ago

CSL Says CHMP Recommends Revocation of TAVNEOS Marketing Authorization in Europe

CSL (ASX:CSL) said the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has issued an opinion recommending the revocation of the European Union marketing authorization for TAVNEOS, following a review of the handling of data in the Phase 3 ADVOCATE clinical trial supporting the product's approval, according to a Monday Australian bourse filing.The company said it expects to stop new patient initiation in the EU and European Economic Area (EEA) markets pending the European Commission decision, consistent with regulatory guidance."While we are disappointed in the outcome of the Article 20 procedure, we will respect the regulatory process and are committed to implementing it in full," said Bill Mezzanotte, CSL's head of research & development.TAVNEOS, an in-licensed therapy sold by CSL Vifor affiliates under license in the EU and EEA markets for the treatment of patients with severe, active anti-neutrophil cytoplasmic antibody (ANCA) associated vasculitis in combination with standard therapies, the filing added.

ASX:CSL

Asia36d ago

Southern Cross Gold Consolidated Starts Underground Development at Victoria Project

Southern Cross Gold Consolidated (ASX:SX2) started the underground development of the exploration decline at its Sunday Creek gold-antimony project in Victoria, according to a Monday Australian bourse filing.The company said box cut earthworks and ground support are complete. Once completed by year end, the decline will allow the current 11 surface rigs to be expanded to 24 surface and underground rigs, it added.

ASX:SX2

Asia36d ago

ASX Preview: Australian Shares to Rise as Oil Climbs on US-Iran Tensions; Ramelius Resources to Sell Western Australia Gold Hub to Forrestania for AU$300 Million

Australian shares are poised to rise on Monday, tracking firmer oil prices after renewed US-Iran strikes and escalating tensions in the Middle East disrupted shipping through the Strait of Hormuz and prompted traders to reassess the risk of supply constraints.On June 26, the S&P 500 and the Dow Jones Industrial Average each fell 0.1%, while the Nasdaq Composite declined 0.2%.In the macroeconomy, investors are eyeing the Reserve Bank of Australia's June monetary policy board meeting minutes on Tuesday.In corporate news, Ramelius Resources (ASX:RMS) agreed to sell its Edna May Gold Hub, including processing infrastructure and surrounding satellite tenements, to Forrestania Resources (ASX:FRS) for AU$300 million under a binding share and asset purchase agreement.Greatland Gold (ASX:GGP) said its group ore reserve estimate grew 62% to 5 million ounces.Australia's benchmark index rose 0.2% or 15.5 points to close at 8,764.20 on June 26.

ASX 200ASX:FRSASX:GGPASX:RMS

International36d ago

Total New Zealand Enterprise Count Down in May

Total enterprise count in New Zealand in May was 598,137, down from 591,693 in the same period last year, according to figures released by Stats NZ on Monday.Enterprise entries were at 5,769, up from 5,595 in May 2025.Meanwhile, enterprise exits stood at 10,986, up from 10,620 last year.Rental, hiring, and real estate services had the highest enterprise count in May at 126,807, followed by construction at 78,114, and professional, scientific, and technical services at 67,287.Mining had the lowest enterprise count at 684.

^NZ50

International36d ago

Japan's Retail Sales Growth Quickens to 5.3% in May

Japan's retail sales expanded 5.3% year over year in May to 13.45 trillion yen, according to preliminary data from the Ministry of Economy, Trade and Industry on Monday.The reading beat the consensus forecast of 3.1% growth tracked by Investing.com, and compared with a 2.8% increase recorded in the previous month.On a seasonally adjusted month-over-month basis, retail sales grew 1.9%, faster than the 1.3% expansion between March and April.

Nikkei 225

International36d ago

China's Industrial Profits Grow 18.8% in January-May Period

Profits of China's major industrial firms grew 18.8% year over year to 3.14 trillion yuan during the first five months of the year, according to data from the National Bureau of Statistics on Saturday.The year-to-date pace accelerated compared with the 18.2% expansion recorded in the previous four-month period, but missed the Trading Economics forecast for a 20% growth. In May alone, industrial profits jumped 21% year over year.From January to May, the mining industry achieved a total profit of 479.5 billion yuan, up 33.5% year over year, while the manufacturing industry's profit grew 20% to 2.33 trillion yuan.Meanwhile, the electricity, heat, gas and water production and supply industry recorded a total profit of 335.9 billion yuan, a decrease of 2.7% year over year.

Shanghai Composite^SZSE

International36d ago

New Zealand Filled Jobs Rise in May

The seasonally adjusted number of filled jobs across New Zealand industries rose 0.3% month on month to 2.4 million in May, following a 0.1% decrease in the previous month, data from Stats NZ showed on Monday.Filled jobs in the primary industries remained flat, while goods-producing and service industries rose by 0.1% and 0.4%, respectively.By industry, the largest increase was in public administration and safety, with filled jobs up 3.9%, or 6,337 jobs, compared with May 2025.Meanwhile, total gross earnings rose 3.4% in May on an accrual basis compared with May 2025, while total gross earnings for the same month reached NZ$16.6 billion.

^NZ50

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