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Nomura Adjusts Samsung Electro-Mechanics' Price Target to KRW2,500,000 From KRW1,300,000, Keeps at Buy

Samsung Electro-Mechanics (KRX:009150) has an average rating of buy and mean price target of 2,136,087 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:009150

Research38d ago

Jefferies Upgrades Kao to Buy From Hold, Adjusts Price Target to 7,500 Yen From 7,200 Yen

Kao (TYO:4452) has an average rating of overweight and mean price target of 7,366.67 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:4452

Asia38d ago

Minmetals Capital Raises 800 Million Yuan Via 365-Day Bond Issue; Shares Fall 6%

Minmetals Capital (SHA:600390) unit Minmetals Securities raised 800 million yuan via the issue of 365-day notes carrying a 1.64% coupon rate.The bonds will mature in June 2027, according to a Friday filing with the Shanghai bourse.Shares of the brokerage were down nearly 6% in recent trade.

SHA:600390

US Markets38d ago

Singapore Manufacturing Output Growth Slows in May Despite AI-Led Growth

Singapore's manufacturing output growth slowed in May as an AI-driven surge in electronics was offset by steep declines in biomedical manufacturing and chemicals, according to data released by the Singapore Economic Development Board (EDB) on Friday.Output jumped 13% year over year in May, slower than the revised 16.5% growth seen in April and below the Trading Economics consensus forecast of a 17% rise.Excluding biomedical manufacturing, output grew 17.7%, still slower than the 20.2% seen a month earlier.The electronics sector jumped 35.8% in May on the heels of artificial intelligence demand that also led increases in infocomms and consumer electronics at 59.2% and semiconductors at 37%, the EDB said.Precision engineering output expanded 32.2% as precision modules and components increased 8.6%.The precision modules and components segment saw growth in optical instruments, electronic connectors and dies, molds, tools, jigs, and fixtures.General manufacturing output inched up 1.8% on higher structural metal product manufacturing.Transport engineering output slipped 5% on a decline in aerospace maintenance, repair, and overhauls, as well as reduced work in oil rigs and offshore platforms and softer demand for oil and gas field equipment.The decline comes despite a 22.9% rise in land segment output.The chemicals sector slipped 11.5% on lower petroleum and petrochemicals segments. Petrochemicals output plunged 42.5%.Singapore's biomedical manufacturing segment fell 24.2% on softer medical device demand and lower pharmaceutical output at 41.6%.On a month-on-month basis, manufacturing output contracted 0.7% compared with the Trading Economics consensus forecast of a 2% growth and lower than a growth of 6.2% in April.

^STI

Asia38d ago

New Concepts Forecasts Narrower Full-Year Loss

New Concepts (HKG:2221) expects an attributable loss of up to HK$60 million for the year ended March 31, narrower than HK$80.7 million a year prior, according to a Thursday Hong Kong bourse filing.Shares of the environmental protection company were down over 1% in Friday afternoon trading.The company attributed the forecast to a higher gross profit mainly from the construction business and a lower impairment loss under the expected credit loss model.

HKG:2221

Equities38d ago

Aker Solutions Bags Engineering, Maintenance Contract for Canadian Project

Aker Solutions (AKSO.OL) secured a contract to provide engineering and maintenance services at Cenovus Energy's White Rose field at the Jeanne d'Arc basin of Canada.The five-year deal covers engineering, maintenance, and operations support for the west White Rose platform and the SeaRose floating production storage and offloading vessel, according to a Friday release.The energy-focused engineering group estimates the contract value to be between 500 million Norwegian kroner and 1.5 billion kroner.

$AKSO.OL

Asia38d ago

Magellanic Cloud Approves Group Restructuring, Preferential Issue

Magellanic Cloud (BOM:538891, NSE:MCLOUD) has approved the amalgamation of its wholly owned subsidiary IVIS International with the company, with no cash or share consideration involved and no change in the overall shareholding pattern.The board also approved plans to raise capital through the issuance of 37.4 million equity shares and 126.7 million convertible warrants on a preferential basis to promoters and non-promoters, subject to shareholder and regulatory approvals, according to a filing with the National Stock Exchange of India and BSE on Thursday.

BOM:538891NSE:MCLOUD

International38d ago

Ifo: German Employment Barometer Deteriorates in June

More German companies are planning layoffs amid persistent labor market weakness, the Ifo Institute said Friday.The ifo Employment Barometer edged down to 92.3 points in June from May's 93.9 points. ifo head of surveys Klaus Wohlrabe noted that the country is "still a long way from a sustained recovery in employment."The labor market in manufacturing "remains tense," while job cuts also dominate retail, wholesale and services. Only the construction sector plans to buck the trend by keeping staffing levels largely stable.

^SXXP

Asia38d ago

CRRC Kicks Off New Locomotive for Central Asia Industrial Operations; Shares Down 3%

CRRC (SHA:601766, HKG:1766) launched a serialized new energy locomotive brand for industrial rail operations across Central Asia and markets within the Belt and Road regions, according to a press release on Friday.The Xuankun, also named Velforce, was presented at the China-Eurasia Expo. It will be used for the region's mining and port railways.The locomotive covers 1,000 kilowatts to 2,000kW through powertrains: a diesel-battery hybrid, a pure battery, and a hydrogen fuel cell. It was designed for Central Asia's harsh climate and rugged terrain. Its features include voice control powered by artificial intelligence, with a one-button departure and unmanned autonomous operation to enhance safety.The railway company's Hong Kong shares fell 3% while Shanghai shares slipped 2% during the afternoon trade.

HKG:1766SHA:601766

Asia38d ago

Polestar to Pivot to EU After US Ban

Polestar on Thursday said it would pivot to the European market after the U.S. government banned the sale of its vehicles from model year 2027 onward.The firm said most of its retail sale volumes originated from markets outside the U.S. during the first quarter of 2026. "We will continue to invest in markets where we have opportunities to continue to grow, like Southeast Asia, Eastern Europe, Latin America and Canada," Polestar CEO Michael Lohscheller said in a statement.The decision came after the U.S. Department of Commerce decided to not grant Polestar an authorization under the current Connected Vehicle Rule to sell vehicles in the U.S.The rule restricts the import and sale of cars with connected-vehicle technology linked to China.Geely Automobile Holdings (HKG:0175) is the majority shareholder of Polestar.

HKG:0175

International38d ago

Business Sentiment Across Taiwan Improves in May

Business sentiment across Taiwan's major industries improved in May, according to data released by the Taiwan Institute of Economic Research on Thursday.The manufacturing index, which measures sentiment in the manufacturing industry, was up 2.66 points month-on-month to 99.58, the report said.Sentiment in the services industry similarly rose 3.89 points to 100.62 during May, while the construction index recorded a rise of 9.64 points to 103.99.

Taiwan Weighted

Asia38d ago

Australian Shares Flat; 4DMedical's Imaging Technology Secures TGA Approval

Australian shares closed flat with a positive bias on Friday as investors reacted to a media report that OpenAI's initial public offering could be delayed.The S&P/ASX 200 Index was little changed to close at 8,764.20.Technology shares retreated after a sell-off in Apple shares after the technology giant disclosed price increases, as the prices of memory and storage chips rocketed, as well as a report that OpenAI is mulling a delay to its IPO until next year.Brent crude oil futures were trading around $73 per barrel. Meanwhile, gold steadied around $4,000 per ounce.On the domestic front, Westpac said there is around a one-in-four probability of an economic contraction in the June quarter in Australia, based on historical patterns and an estimated 10% chance of a negative quarter in the September quarter.The Westpac-Now indicator projected gross domestic product (GDP) growth of around 0.2% on a quarterly basis in the June quarter, with a range of 0.16% contraction to 0.4% growth.In company news, 4DMedical (ASX:4DX) secured Therapeutic Goods Administration (TGA) approval and inclusion on the Australian Register of Therapeutic Goods for its non-contrast ventilation-perfusion imaging software CT:VQ, enabling commercial use across Australia.HMC Capital (ASX:HMC) confirmed that all conditions precedent for its strategic partnership with KKR in the HMC Energy Platform have been satisfied, including approvals from the Australian Competition and Consumer Commission and the Foreign Investment Review Board, with completion expected around June 30.Lastly, BHP Group (ASX:BHP) appointed Edgar Basto as chief enterprise performance officer, effective Sept. 1. Basto is currently serving as the firm's chief operating officer.

ASX 200ASX:4DXASX:BHPASX:HMC

Asia38d ago

Henan Zhongfu Industrial Unit Investing 365 Million Yuan on Aluminum Foil Expansion; Shares Down 3%

Henan Zhongfu Industrial (SHA:600595) subsidiary Henan Fujin New Materials will invest 365.2 million yuan in a 30,000-ton-per-year new energy aluminum foil project in Henan, China.The two-year construction period will produce foil for aluminum-plastic film, cold-forming, electronics and pharmaceutical packaging, according to a Friday filing on the Shanghai bourse.The project targets 852.6 million yuan in annual revenue and 32.0 million yuan net profit, with a 10.8% internal rate of return.Shares of the electrolytic aluminum and aluminum products manufacturer were down 3% in recent trade.

SHA:600595

Asia38d ago

Evergreen Marine Clarifies Report on Vessel Incident in Strait of Hormuz

Evergreen Marine Corp Taiwan (TPE:2603) clarified a media report that one of its vessels struck by an unidentified object while transiting the Strait of Hormuz, according to a same-day Taiwan Exchange filing.Evergreen Marine's shares slid 2% in Friday's afternoon trade.The vessel, Ever Lovely, operated by Evergreen Marine's unit, Evergreen Marine (Asia), was struck by an unidentified object while transiting the Strait of Hormuz on Thursday. The company said the Ever Lovely was sailing along a route recommended by the United Kingdom Maritime Trade Operations when the starboard side of its bridge superstructure was hit near Khawr Naiwah, Oman.A preliminary inspection found damage to the bridge superstructure eaves and bridge windows.No crew members were injured, the vessel and cargo were unharmed, and the ship's main engine and navigation equipment remained fully operational, the filing said.

TPE:2603

Asia38d ago

Shanghai Aiko Solar Energy's Subsidiary to Raise Capital by 800 Million Yuan

Shanghai Aiko Solar Energy (SHA:600732) said a subsidiary's registered capital will be raised by 800 million yuan, according to a Shanghai bourse filing on Friday.Chuzhou Aiko Solar Technology's capital will be increased through another subsidiary, Zhejiang Aiko Solar Technology.Chuzhou Aiko's capital will increase to 1.32 billion yuan from 522 million yuan after the transaction.The Chinese solar products manufacturer's shares fell 2% during the afternoon trade.

SHA:600732

Equities38d ago

Archer Ltd in Advanced Talks for Multi-year Plug, Abandonment Services Contract

Archer Ltd. (ARCH.OL) said Friday it is in advanced talks for a multi-year plug and abandonment services contract with an unnamed party.The Norway-listed drilling and well services group expects to sign the deal, covering drilling, compact workover unit and well services, "within a short timeline."Archer noted that there is no certainty that a final deal will materialize.

$ARCH.OL

Asia38d ago

Huaneng Power International Sells 2 Billion Yuan Bonds

Huaneng Power International (SHA:600011, HKG:0902) completed the issue of 2 billion yuan of 1.7% bonds maturing in 2+N years, according to a Friday Hong Kong bourse filing.The Chinese power company will use proceeds to repay existing special bonds for energy supply assurance.

HKG:0902SHA:600011

International38d ago

Market Chatter: Taiwan's Business Confidence Climbs Across Sectors in May, Driven by AI Boom

The business confidence in the manufacturing, services, and construction sectors rose again in May, driven by the boom in the artificial intelligence space, which continued to lift exports, investment, and domestic demand, according to a Taipei Times report on Thursday quoting a survey by Taiwan Institute of Economic Research (TIER).Taiwan's manufacturing composite index rose for a second consecutive month to 99.58 in May from a revised 96.92 in April, which is the highest level since June 2024, the institute said.The data further showed that the service sector index climbed 3.89 points to 100.62, the highest reading since April 2021, while the construction index rose 9.64 points to 103.99.(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.)

Taiwan Weighted

Asia38d ago

EXSIM Hospitality Unit Secures MYR2.5 Million Interior Design Works Deal

EXSIM Hospitality (KLSE:EXSIMHB) unit EXSIM Concepto bagged a 2.5 million ringgit work order from Exsim Aseania for interior design works at a mixed-use development in Langkawi, Malaysia, according to a Thursday Malaysian bourse filing.Shares slid over 1% in Friday's midday trade.The contract covers the execution and completion of show units and a sales gallery for the proposed retail and Airbnb development.Deal works are scheduled to begin on Sept. 7, 2026, and be completed by Feb. 28, 2027, with a 12-month defects liability period, the filing said.

KLSE:EXSIMHB

Asia38d ago

DeepSeek Looks to Double Staffing Count

DeepSeek is looking to double the size of all its departments and is hiring for technical and engineering roles, according to a job advertisement posted on its WeChat account Thursday.The hiring push comes as the AI startup is in the final stages of its 50-billion-yuan fundraising, Bloomberg reported separately the same day.

Shanghai Composite^SZSE

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