Financial Wire

Financial News

Page 6 of 32

Asia

Asahi Songwon Colors CFO Resigns

Asahi Songwon Colors (NSE:ASAHISONG, BOM:532853) said that Chief Financial Officer Pratik Shah has resigned, effective immediately, citing personal reasons, according to an Indian bourse filing on Thursday.Shares of the company rose nearly 2% in Friday's trade.

$BOM:532853$NSE:ASAHISONG
Asia

Horizon Minerals Changes Name to Maritana Minerals, Ticker to MRT

Horizon Minerals (ASX:HRZ) formally changed its name to Maritana Minerals and its ticker to MRT from HRZ, effective the start of trading on April 13, according to a Friday Australian bourse filing.Its shareholders approved the change in an extraordinary general meeting on Tuesday.

$ASX:HRZ
Asia

UCloud Technology's Attributable Loss Narrows in 2025

UCloud Technology's (SHA:688158) attributable loss narrowed to 73.6 million yuan in 2025 from 241.0 million yuan in 2024, according to a Friday filing with the Shanghai bourse.The cloud computing technology platform developer incurred a loss per share of 0.16 yuan, narrower than the 0.53 yuan recorded in the previous year.Operating income increased 13% year over year to 1.70 billion yuan from 1.50 billion yuan.Shares decreased 3% during afternoon trading on Friday.

$SHA:688158
Asia

Australian Shares Flat; Magellan Financial Group Shareholders Approve Barrenjoey Merger

Australian shares were flat with a negative bias on Friday's close, as investors await talks between the US and Iran on ending the conflict in Pakistan this weekend.The S&P/ASX 200 Index was little changed to close at 8,960.60.US President Donald Trump said Iran was doing a "very poor job" of allowing oil to pass through the Strait of Hormuz. Iran is seeking to collect a toll on oil tankers passing through the strait. Brent crude futures rose 1% to $96.83 per barrel.On the domestic front, the total number of dwellings approved in Australia rose nearly 30% to 19,022 in February from 14,669 in the previous month, according to seasonally adjusted data from the Australian Bureau of Statistics.A disparity between supply and demand has resulted in divergent home value trends in Australia over the past several years, Cotality said in a report. Between the first quarter of 2020 and the third quarter of 2025, the sharpest growth in home values was concentrated in states where population growth has significantly exceeded the rate of dwelling completions, pointing to Western Australia and Queensland as primary examples.Bendigo Bank Chief Economist David Robertson expects the Reserve Bank of Australia (RBA) to hold the cash rate steady in May, but a third rate hike for the year is likely in August.In company news, Magellan Financial Group (ASX:MFG) said its shareholders approved a resolution to issue consideration shares to the Barrenjoey parties and an affiliate of Barclays as part of a proposed merger at an extraordinary general meeting on Friday.Fortescue (ASX:FMG) ramped up the delivery of an industrial, fully-integrated green energy grid amid plans to power all of its operations in Western Australia's Pilbara region for 24-hour periods without fossil fuels in 2027. Its shares fell 1% on market close.Lastly, Life360 (ASX:360) laid off an undisclosed number of employees, as part of plans to reshape the company into an "AI-native model," according to a social media post by Chief Executive Lauren Antonoff. Its shares closed down 3%.

$^AXJO$ASX:360$ASX:FMG$ASX:MFG
Asia

Kaiser Reef Reports 5,188 Ounces of Gold Production at Henty Mine in March Quarter

Kaiser Reef (ASX:KAU) said its Henty gold mine in Tasmania produced 5,188 ounces of gold and 4,810 ounces of silver in the quarter ending March 31, while its Maldon gold project in Victoria produced 346 ounces of gold over the same period, according to a Friday Australian bourse filing.The company said its closing cash position stood at AU$45.6 million at the end of the quarter.Kaiser Reef reduced its gold loan by 312 ounces of gold with a net effect of about AU$2.2 million.The company's shares fell 11% on market close.

$ASX:KAU
Asia

Raytron Technology's Attributable Profit Jumps 98% in 2025

Raytron Technology's (SHA:688002) attributable profit rose 98% to 1.12 billion yuan in 2025 from 569 million yuan in 2024, according to a Friday filing with the Shanghai bourse.Earnings per share at the uncooled infrared thermal imaging and micro-electromechanical systems producer increased 89% to 2.38 yuan from 1.26 yuan in the previous year.Operating income grew 46% year over year to 6.30 billion yuan from 4.32 billion yuan.Shares increased 5% during afternoon trading on Friday.

$SHA:688002
Asia

Malaysia Steel Works (KL) Seeks Renewal of Transactions Authority

Malaysia Steel Works (KL) (KLSE:MASTEEL) is seeking to renew its authorization to conduct revenue-generating transactions at its upcoming annual general meeting, according to a Thursday Malaysian bourse filing.Shares gained about 2% in Friday's midday trade.The conglomerate is also seeking its shareholders' nod to renew authority to purchase up to 10% of the issued shares of the company, according to a separate same-day filing.The company will share a statement containing details of the plans with shareholders in due time, it noted.

$KLSE:MASTEEL
Asia

Australia, Singapore Prime Ministers Reaffirm Commitment to Boost Relationship

Australia's Prime Minister Anthony Albanese and his Singapore counterpart Lawrence Wong issued a joint statement aimed at strengthening their relationship through the Australia-Singapore Comprehensive Strategic Partnership 2.0 (CSP 2.0).The two states, under CSP 2.0, intend to strengthen cooperation regarding emerging and evolving issues and improve energy security, according to Friday's joint media statement.The two states have also directed their respective ministers to conclude a legally binding protocol to the Singapore-Australia Free Trade Agreement (SAFTA) on Economic Resilience and Essential Supplies.The two states are expected to convene an inaugural Energy Ministerial Dialogue to enhance energy cooperation, according to the release.

$^AXJO$^STI
Asia

Orora's 2026 Earnings Expected to Fall 14% Amid Struggling Saverglass Unit, Says Jefferies

Orora (ASX:ORA) fiscal 2026 earnings per share are expected to fall by 14% as the extent of deterioration at the Saverglass business was worse than expected, said Jefferies in a Friday note.The company on Thursday said fiscal year 2026 underlying earnings before interest and tax (EBIT) for its Saverglass unit is now expected to be about 63 million euros to 68 million euros, down from previous guidance of broadly in line with fiscal year 2025 EBIT of 79.2 million euros.Jefferies has also reduced its forecast for fiscal year 2027 and fiscal year 2028 by 23% and 20%, respectively. These downgrades reflect the annualization of weaker second-half 2026 trends and the removal of share buybacks from estimates, Jefferies added.Jefferies kept a hold rating on Orora and cut its price target to AU$1.69 from AU$2.34.

$ASX:ORA
International

German Annual Inflation Confirmed at 2.7% in February

Confirming the flash estimate, Germany's annual inflation rate increased to 2.7% in March from 1.9% in February, final data from the country's Federal Statistical Office showed Friday.On a monthly basis, consumer prices were up 1.1%, matching the preliminary reading and against the previous 0.2% uptick.The annual harmonized inflation rate for March was also confirmed at 2.8%, compared with 2% earlier. Meanwhile, harmonized consumer prices were affirmed to be 1.2% higher month over month, against the previous reading of a 0.4% gain.

$^SXXP
International

Philippines' Net FDI Falls 39% in January

Net foreign direct investment (FDI) into the Philippines plummeted 39% year over year to $443 million in January, according to data released by the Bangko Sentral ng Pilipinas.The latest figure was also down from $560 million in December.Japan was the leading source of FDIs during the month, with most inflows directed to the manufacturing sector, the central bank said.Equity capital placements also came mainly from Japan, the United States and South Korea, and were largely channelled into manufacturing, real estate, and wholesale and retail trade industries.

$^PSEi
Asia

ICRA Reaffirms A+ Rating for Unichem Laboratories' Bank Facilities; Shares Up 4%

Credit rating agency ICRA has reaffirmed the rating of A+ given to Unichem Laboratories' (NSE:UNICHEMLAB, BOM:506690) 1.80 billion Indian rupees bank facilities, according to a Friday filing to the Indian stock exchanges.ICRA has also affirmed its stable outlook for the bank facilities.The company's shares were up 4% in recent trade.

$BOM:506690$NSE:UNICHEMLAB
Asia

Market Chatter: Japanese Car Dealerships Close Operations in Indonesia As Chinese EV Booms

Several Japanese-brand car dealerships have closed or shifted business models as Chinese electric vehicle makers gain market share, Jakarta Globe reported Thursday, citing Indonesia's Industry Minister Agus Gumiwang Kartasasmita.Some outlets have shut entirely, while others have begun selling, Agus told reporters. The Japanese automakers need to adjust more quickly to Indonesia's shifting auto demand, which is increasingly driven by electric vehicles, reportedly.He noted the transition aligns with government policy to accelerate EV adoption and reduce fossil fuel dependence, in line with the country's 2060 net-zero emissions goal. The remarks also reflect President Prabowo Subianto's push for full electrification across transport, including cars, buses and trucks, the news outlet 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.)

$^JKSE
Asia

Grace Fabric Technology Logs 1.12 Billion Yuan in 2025 Fiberglass Fabric Revenue; Shares Up 5%

Grace Fabric Technology (SHA:603256) logged 2025 operating revenue of 1.12 billion yuan for its electronic-grade fiberglass fabric.The company sold 210 million meters and produced 205.7 million meters of the material last year, according to a Friday filing with the Shanghai bourse.Shares of the glass fabric products company rose 5% in recent trade.

$SHA:603256
Asia

Shanghai Vital Deeptech's Contracted Sales Slid 62% in Q4 2025; Shares Rise 4%

Shanghai Vital Deeptech's (SHA:600641) contracted sales plunged 62% year over year to 17.7 million yuan in the fourth quarter of 2025, according to a Friday filing with the Shanghai bourse.Contracted sales area increased 4% to 1,627 square meters.Shares rose 4% during afternoon trading on Friday.

$SHA:600641
Asia

Shanghai Vital Microtech Swings to Attributable Loss in 2025; Shares Rise 4%

Shanghai Vital Microtech (SHA:600641) swung to an attributable loss of 126.6 million yuan in 2025 from an attributable profit of 107.5 million yuan in 2024, according to a Friday filing with the Shanghai bourse.The company incurred a loss per share of 0.1390 yuan compared with earnings per share of 0.1173 yuan in the previous year.Operating income grew 219% year over year to 1.85 billion yuan from 581.4 million yuan.Shares increased 4% during afternoon trading on Friday.

$SHA:600641
Asia

Rockchip Electronics' Profit Jumps 75%; Shares Rise 7%

Rockchip Electronics' (SHA:603893) attributable profit rose 75% to 1.04 billion yuan in 2025 from 594.9 million yuan in 2024, according to a Friday filing with the Shanghai bourse.Basic earnings per share at the fabless integrated circuit design company increased 75% to 2.48 yuan from 1.42 yuan in the previous year.Total operating revenue grew 40% year over year to 4.40 billion yuan from 3.14 billion yuan.Shares increased 7% during afternoon trading on Tuesday.

$SHA:603893
Asia

JCET's Attributable Profit Slips 3% in 2025

JCET's (SHA:600584) attributable profit fell 2.8% to 1.57 billion yuan in 2025 from 1.61 billion yuan in 2024, according to a Friday filing with the Shanghai bourse.Earnings per share at the integrated circuit manufacturer decreased 3.3% to 0.87 yuan from 0.90 yuan in the previous year.Operating income grew 8.1% year over year to 38.9 billion yuan from 36 billion yuan.Shares rose 2% during afternoon trading on Tuesday.

$SHA:600584
Asia

Goldiam International Opens Lab-Grown Diamond Jewelry Store in Faridabad, India; Shares Up 3%

Goldiam International (NSE:GOLDIAM, BOM:526729) has opened a new lab-grown diamond jewelry store under the brand name "ORIGEM" in Faridabad, India, on Thursday, according to a same-day filing to the Indian stock exchanges.The company's shares were up over 3% in Friday's trade.This has taken the company's store count to 24 across different cities in India, including Mumbai, Hyderabad, Bengaluru, and New Delhi.

$BOM:526729$NSE:GOLDIAM
Asia

Rockchip Electronics Expects Attributable Profit to Surge 53% in Q1; Shares Jump 7%

Rockchip Electronics (SHA:603893) forecasts its attributable profit will rise 53% to 62% to between 320 million yuan and 340 million yuan in the first quarter from 209.5 million yuan in the year-ago period, according to a Friday filing with the Shanghai bourse.Operating revenue at the integrated circuit design company is seen to grow 36% year over year to 1.21 billion yuan from 885 million yuan.The growth is attributable to a rise in the artificial intelligence of things market, among others, the filing said.Shares surged 7% during afternoon trading on Friday.

$SHA:603893