-- Shanghai Shyndec Pharmaceutical (SHA:600420) forecasts attributable profit to fall 59% to 65% year over year to between 126 million yuan and 148 million yuan in the first quarter, according to a Saturday filing with the Shanghai bourse.
The decline is attributable to a rise in protectionism in India and the U.S, domestic antibiotic overcapacity, and declining demand from key customers, among others, the filing said.
Shares slid 6% during afternoon trading on Monday.
HSBC Holdings (HKG:0005) plans to redeem $2.00 billion in debt, according to a Hong Kong bourse filing Friday.The bank is looking to redeem its 1.589% fixed rate/floating rate senior unsecured notes due 2027.The notes will be redeemed on May 24, the bank said.
Shin-Etsu Chemical's (TYO:4063) additional $3.4 billion investment in its U.S. polyvinyl chloride operation in March has helped it withstand supply shocks better than many rivals who are raising prices or cutting output amid the Middle East turmoil, Nikkei Asia reported on Friday.While price competition in commodity-grade PVC remains fierce and massive output increases from Chinese suppliers have pushed numerous competitors into losses or plant closures, Shin-Etsu leverages its U.S. geographical advantage, the publication said.Through its American subsidiary Shintech, the company produces PVC using ethylene derived from U.S. shale gas, which exposes it to less geopolitical risk than oil-derived feedstocks from the Middle East, and enables stable, inexpensive procurement, the news agency 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.)
Southern Cross Gold Consolidated (ASX:SX2) said certain of its directors exercised stock options to acquire about 7.8 million of the company's shares, generating roughly AU$5.5 million of proceeds for Southern Cross, according to a Friday filing with the Australian bourse.Following the exercise, the directors together own about 12.6 million shares, or 4.7% of the company's issued shares on a non-diluted basis, representing a material increase in their direct beneficial shareholding, per the filing.The directors plan to keep their holdings for long-term investment purposes.Additionally, Springtide Capital, a company associated with Southern Cross shareholder Darren Morcombe, has exercised 1.5 million stock options at AU$1.20 per share.Meanwhile, Morcombe has acquired an additional 950,618 shares via on-market purchases, increasing his aggregate beneficial shareholding by about 2.5 million shares to bring his total ownership of Southern Cross to 31.4 million shares, the company said.Shares of Southern Cross were down nearly 4% in recent Friday trade.