Financial Wire - Financial News

TSMC's Revenue Soars 45% in March

Taiwan Semiconductor Manufacturing (TPE:2330) booked consolidated revenue of NT$415.2 billion for March, up 45% versus a year earlier.Monthly, the figure increased 31%, according to a Friday Taiwan Exchange filing.Cumulative revenue for the first three months of 2026 reached NT$1,134.10 billion, soaring 35% from the same period in 2025.

$TPE:2330

Hanwha Aerospace Abandons Plan to Take Over Poongsan's Ammunition Business

Hanwha Aerospace (KRX:012450) suspended the review of acquiring the defense unit of Poongsan (KRX:103140), according to a Thursday filing with the Korea Exchange.Shares of Hanwha Aerospace rose nearly 4% at market close while those of Poongsan declined over 3%.The South Korean defense company did not specify the reason for the decision.

$KRX:012450$KRX:103140

Ceasefire Prospects Lift Asian Stock Markets

Asian stock markets gained ground Friday, after media reports that US-Iran ceasefire negotiations will take place on Saturday in Pakistan.Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.Brent oil futures held under $100 a barrel, near $96 during Asian trading hours.In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 1.8% as traders weighed a profit report from a major retailer and mulled Middle East peace prospects.The benchmark Nikkei 225 rose 1,028.79 to 56,924.11, although losing issues outnumbered gainers 146 to 75.Leading the upside was Fast Retailing, up 12% after reporting H1 earnings and issuing upbeat guidance. Consultancy BayCurrent declined 5.8%.In economic news, Japan's producer price index (PPI) rose 2.6% on year in March, after rising 2.1% on year in February, pushed by higher oil bills, reported the Bank of Japan.In Hong Kong, the Hang Seng Index opened higher and held ground, closing up 0.6% after an inflation report from Beijing suggested the nation's bout with industrial-price deflation may be ebbing.The broad gauge Hang Seng rose 141.14 to 25,893.54 as gaining issues outnumbered losers 56 to 31. The Hang Seng TECH Index gained 0.8% on the day, while the Mainland Properties Index rose 0.4%.Leading the upside was Contemporary Amperex Technology, gaining 9%, while noodle-maker Tingyi declined 3.3%.On the mainland, the Shanghai Composite rose 0.5% to 3,986.22.In economic news, China's producer price index (PPI) rose 0.5% on year in March, snapping a 41-month stretch of contraction, reported the National Bureau of Statistics.China's consumer price index (CPI) rose 1% in March on year, slipping February's 1.3% reading, added the NBS.On the other regional exchanges, the S. Korean KOSPI rose 1.4%; the Taiwan TWSE inclined 1.6%; the Australian ASX 200 declined 0.1%; the Singapore Straits Times Index rose 0.3%, and the Thai Set inclined 1.2%. In late trading in Mumbai, the Sensex was up 1.2%The MSCI All Country Asia Pacific Index rose 0.7% on the day.

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US Markets6d ago

WD-40 Maintains Fiscal 2026 Outlook Despite Potential Impact of Middle East War

WD-40 (WDFC) reiterated its full-year outlook despite the potential impact from the Middle East conflict, while the maker of lubricants and cleaning products recorded year-over-year gains in its fiscal second-quarter results.The company continues to project per-share earnings to come in between $5.75 and $6.15 for fiscal 2026, it said late Thursday, while three analysts polled by FactSet are looking for $6.04. Sales are still pegged at $630 million to $655 million, after adjusting for foreign-currency impacts, compared with the $658.2 million consensus based on the same number of analysts."While geopolitical developments in the Middle East and their potential impact on the global economy warrant caution, we are encouraged by the momentum in the business," Chief Financial Officer Sara Hyzer said during an earnings call, according to a FactSet transcript. "We have clear visibility in promotional activity in the US, and are seeing improving momentum in both (Europe, India, the Middle East and Africa) and Asia-Pacific."Earlier in the week, the US and Iran agreed to a two-week ceasefire, but Tehran later accused Washington of breaching certain elements of the truce. The war started at the end of February, sending energy prices soaring amid the closure of the crucial Strait of Hormuz.The conflict has contributed to the increased costs of certain petroleum-based specialty chemicals, which are expected to increase the company's costs of products sold, Hyzer said on the call. "The duration of this conflict and its impact on our raw materials will drive our decisions around mitigation efforts, which we are currently assessing," according to Hyzer.Hyzer said WD-40 is advancing in its process to sell its American homecare and cleaning brand. In the fourth quarter of fiscal 2025, the firm completed the sale of its homecare and cleaning portfolio in the UK.If the company isn't able to divest the Americas homecare and cleaning brand, it expects its full-year EPS and sales guidance to be positively impacted by $0.20 a share and about $12.5 million, respectively, the CFO added.For the three-month period ended Feb. 28, adjusted EPS climbed 14% to $1.50. Sales inclined 11% on a yearly basis to $161.7 million. Revenue from maintenance products grew 13% to $156.8 million, while homecare and cleaning sales dropped 29% to $4.8 million."We capitalized on strong momentum in the second quarter," Chief Executive Steve Brass said in the earnings release. "Maintenance products remain our core strategic focus, and sales of these brands grew 6% in constant currency in the second quarter in line with our long term growth expectations."Sales grew across all regions, led by a 19% jump in Asia Pacific, WD-40 said.

$WDFC

US Markets6d ago

South Korea Keeps Rate Steady at 2.50%

South Korea kept its monetary interest rates unchanged as the Middle East conflict brought more pressure on inflation and risks to economic growth.The Bank of Korea decided to leave the base rate steady at 2.50%, according to a Friday disclosure from the central bank.The decision was in line with ING's prediction that rates would be unchanged. In an April 2 note, ING analysts Lynn Song and Min Joo Kang said strong demand for chips helped offset the effect of commodity supply constraints, while government measures are mitigating the effects of the oil price shocks that could trigger inflation higher."The currently available information suggests that the global economy has continued its relatively favorable growth trend, supported by AI-related investment and fiscal expansion in major economies," the central bank said in a press release. "However, growth is expected to weaken and inflation to increase, affected by energy price hikes and supply constraints stemming from the war in the Middle East."The BoK forecasted that inflation is likely to rise to between the mid- and upper- 2% range due to global oil price hikes.Consumer price inflation in March increased to 2.2% from the previous month's 2%, while short-term inflation expectations among the general public moderately climbed to 2.7%, the BoK said.The U.S. and Iran only recently reached an 11th-hour deal to a two-week ceasefire after President Donald Trump threatened Tehran to wipe it out unless the Strait of Hormuz is reopened. The impact of the ceasefire is yet to be seen, especially since a longer-term peace treaty seemed uncertain.ANZ said that the policy messaging from BoK did not signal imminent tightening as Governor Rhee Chang-yong said it is "premature to discuss a rate hike" amid uncertainty on the duration of the war in Iran and the scale of its impact."The BoK continues to retain optionality, with any rate hike likely conditional on the price shock proving persistent and materially lifting inflation expectations," ANZ Asia Economist Krystal Tan said.ANZ maintains its stance that the BoK will add 25 basis points to its rate in the second half of the year.

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Financial News

TSMC's Revenue Soars 45% in March

Hanwha Aerospace Abandons Plan to Take Over Poongsan's Ammunition Business

Ceasefire Prospects Lift Asian Stock Markets

TSMC's Revenue Soars 45% in March

Hanwha Aerospace Abandons Plan to Take Over Poongsan's Ammunition Business

Ceasefire Prospects Lift Asian Stock Markets

Chunghwa Telecom Logs NT$10 Billion Profit in Q1

Chinese NEV Exports Surge 140% in March, Car Association Says

TD Cowen Adjusts Price Target on Exxon Mobil to $172 From $175, Maintains Buy Rating

MediaTek Logs NT$63.2 Billion Profit in March

Hanwha Aerospace Wins KRW948.2 Billion Follow-On K9 Howitzer Contract from Finland's Defence Ministry

Indian Equities Rise on Friday Ahead of US-Iran Talks

Sansan's Nine-Month Profit Soars 142%

US FCC Could Bar Top Chinese Telcos From Operating US Data Centers

BMO Sees $20 Billion Fiscal Upside For Oil Provinces On $100 WTI, Flags Wider Regional Gap

Brent Crude Up 0.5% at US$96.40 and NY Crude Up 0.7% at Near US$98.60

Heineken Shifts to Brand-Licensing Model in Congo via Bralima Stake Sale

Nasdaq 100 and S&P Futures Both Flat To Slightly Higher Ahead of U.S. and Iran Peace Talks Tomorrow, US CPI Data Today

WD-40 Maintains Fiscal 2026 Outlook Despite Potential Impact of Middle East War

Indonesian Consumer Confidence Declines in March

Japan Producer Prices Edge Higher in March

South Korea Keeps Rate Steady at 2.50%

A-Sonic Aerospace Buys Back More Shares