Financial Wire

Financial News

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Asia

New Zealand Shares Fall Amid Ceasefire Doubts After Israeli Attack on Lebanon; Kiwi Property Group Appoints CFO

New Zealand shares closed lower on Friday as investors remain worried about the durability of the Iran-US ceasefire after Israel attacked Lebanon.The S&P/NZX 50 Index fell 0.7% or 92.37 points to close at 13,181.44."The US-Iran ceasefire led to a sharp recovery in Asian markets, but the risk-on sentiment got ​tested yesterday," said Rupal Agarwal, Asia quant strategist at Bernstein in Singapore, as quoted by Reuters."We believe this could be the beginning ⁠of the end and is presenting an opportunity for investors to focus on pre-war trends and fundamentals. We recommend adding back ​some beaten-down names," Agarwal added.In domestic news, the average weekly rent in March across Auckland for properties with over five bedrooms came in at about NZ$1,030, down 0.2% year over year, according to data from Barfoot & Thompson.Also, the fuel price in New Zealand is driven by a mix of global and domestic factors, including the price of crude oil in US dollars, refining margins, international freight, insurance costs, the New Zealand dollar exchange rate, as well as the cost of distributing fuel around the country, and other wholesaler and retailer costs and margins, ANZ Research saidFurther, New Zealand's manufacturing sector continued to expand in March, but momentum eased as sentiment weakened, with firms increasingly citing global uncertainty, including the war in Iran, as a growing headwind, BusinessNZ said.In corporate news, Kiwii Property Group (NZE:KPG) appointed Sarah Theodore as chief financial officer, effective late July.PaySauce's (NZE:PYS) annual recurring revenue (ARR) rose 6% year on year to NZ$8.9 million in the fiscal fourth quarter.

$^NZ50$NZE:KPG$NZE:PYS
Asia

Yashhtej Industries Completes Capacity Expansion of Soya Bean Solvent Extraction Plant; Shares Up 3%

Yashhtej Industries India (BOM:544708) has completed the capacity expansion of its soya bean solvent extraction plant to 500 tons per day (TCD) from 300 TCD with effect from Thursday, according to a same-day filing to the BSE.The company's shares were up over 3% in Friday's trade.The company had conducted trial runs before starting the commercial operations, and the plant is now operating at the enhanced capacity.

$BOM:544708
Asia

China Merchants Shekou March Sales Hit 17.9 Billion Yuan

China Merchants Shekou Industrial Zone (SHE:001979) earned a contracted sales amount of 17.9 billion yuan in March, according to a Shenzhen bourse filing on Friday.The real estate developer reached a contracted sales area of 546,300 square meters in the same month.Between January and March, the cumulative contracted sales amount was 33.4 billion yuan, and the cumulative contracted sales area was 1.1 million square meters.Moreover, the company acquired land in Guancheng District, Zhengzhou City, China, for 86.8 million yuan. It has a land area of 15,900 square meters.

$SHE:001979
Asia

China Yangtze Power Posts 7% Rise in Q1 Power Output; Shares Up 10%

China Yangtze Power (SHA:600900) logged total power output of 61.8 billion kilowatt-hours in the first quarter, up 7.2% from the previous year, according to a Friday filing with the Shanghai bourse.Power output at the Wudongde power station declined 2.6% year over year to 6.38 billion kWh, while the Baihetan hydropower station rose 4.0% to 13.1 billion kWh.Shares of the power generation company jumped 10% in recent trade.

$SHA:600900
Asia

Magellan Financial Shareholders Approve Issuance of Consideration Shares to Barrenjoey in Merger

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, according to a same-day filing with the ASX.Magellan had agreed to merge with Barrenjoey Capital Partners earlier in the year, and as consideration for the merger, it planned to issue 106.8 million consideration shares to the shareholders of Barrenjoey at completion.Around 92.28% of the votes cast at the meeting were in favor of the resolution.

$ASX:MFG
Asia

Empower India's CFO Resigns; Shares Up 6%

IT services company Empower India (BOM:504351) said its managing director and chief financial officer, Rajgopalan Iyengar, has resigned from the position, effective April 8, according to a Thursday filing to the Indian stock exchanges.The company's shares were up 6% in Friday's trade.Iyengar cited "medical reasons" for his departure.

$BOM:504351
Asia

Bellevue Gold Says BlackRock Group Lifts Stake

Bellevue Gold (ASX:BGL) received notice that BlackRock Group and its subsidiaries increased their holdings in the company to 18.69% from 17.65%, according to a Friday filing with the Australian bourse.BlackRock Group now owns 278.6 million shares in the company, the filing said.

$ASX:BGL
Equities

Boss Energy Says Bank of New York Mellon Becomes Substantial Holder

Boss Energy (ASX:BOE) received notice that Bank of New York Mellon and its affiliated entities became a substantial holder of the company on Wednesday, according to a Friday filing with the Australian bourse.Bank of New York Mellon now owns 23.1 million shares in the company, representing 5.55% of the issued shares, the filing said.

$ASX:BOE
International

Malaysia's Jobless Rate Remains Steady at 2.9% in February

Malaysia's unemployment rate stood at 2.9% in February, unchanged from the previous month, according to data released by the country's Department of Statistics on Friday.The number of unemployed persons in Malaysia declined by 0.6% to 506,800 in February from 509,600 in January.The number of employed persons, however, edged up 0.1% to 16.79 million, while the employment-to-population ratio held steady at 68.8%.The Southeast Asian country's labor force expanded by 0.1% month over month to 17.30 million, with the labor force participation rate unchanged at 70.9%, the data showed.

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International

Malaysia's Wholesale, Retail Trade Rises 5.3% in February

The sales value of Malaysia's wholesale and retail trade rose 5.3% annually to 156.3 billion ringgit in February, according to data released by the Department of Statistics Malaysia on Friday.The growth was driven by a 7.7% increase in retail trade and a 5.7% rise in wholesale trade.Monthly, the sales value declined by 2.2%, the data showed.In terms of volume index, wholesale and retail trade expanded 4.4% annually to 164.2 points. The increase was supported by a 6.2% rise in wholesale trade and a 5.4% growth in retail trade.Monthly, the volume index fell 1.8%, dragged by 11% decline in motor vehicles, a 1.4% drop in wholesale trade, and a 0.3% decrease in retail trade.

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Australia

Electro Optic Systems Says Director's Purchase of Shares Did Not Violate Trading Policy

Electro Optic Systems Holdings (ASX:EOS) said non-executive director Robert Nicholson did not have inside information and did not violate its trading policy when he executed an on-market purchase of the company's shares on March 30, according to a Thursday filing with the Australian bourse.Responding to a query from the exchange, the company said its secretary forwarded Nicholson's request to trade to the CEO and CFO within 15 minutes of receiving it, satisfying the requirements of its trading policy.Electro Optic Systems added that when its executives approved the trade, they were not aware of an announcement that was subsequently made, which included a $7 million contract with Northrop Grumman and an update on a separate award."These matters were not disclosed in papers previously provided to the board generally or to Mr. Nicholson," the company said, noting that the announcement in question "was only drafted after the trade had been effected, and finalized in the morning of Tuesday, 31 March 2026."Electro Optic Systems' shares fell almost 2% in recent Friday trade.

$ASX:EOS
Equities

Boss Energy March Quarter Output Expected to Decline Before June Recovery, Says Euroz Hartleys

Boss Energy (ASX:BOE) is expected to report weaker March quarter production due to weather disruptions and a planned shutdown at the Honeymoon uranium project, with output seen rebounding strongly in the June quarter, Euroz Hartleys said in a note on Thursday.Euroz Hartleys has lowered its March quarter uranium oxide production forecast to 260,000 pounds, a 35% reduction from its previous estimate, citing temporary, timing-related operational disruptions rather than structural issues at the operation.The firm anticipates stronger June quarter production, approaching the lower end of its 490,000-pound record drummed output guidance, as operations normalize after March quarter disruptions.The firm forecasts March quarter uranium oxide sales of 338,000 pounds, broadly in line with production, at an average realized price of $77 per pound, including about 125,000 pounds under legacy contracts, with a similar volume expected in the June quarter.The firm expects consolidated revenue of about AU$38 million and earnings before interest, taxes, depreciation, and amortization of AU$16 million for the quarter, with a closing cash forecast of AU$49 million.The firm highlighted that updated resource estimates at the company's Gould's Dam and Jason's deposits show higher contained uranium but lower grades, while retaining long-term upside ahead of the second quarter scoping study.Euroz Hartleys maintained its hold rating on Boss Energy and decreased its price target to AU$1.80 from AU$1.95.

$ASX:BOE
International

Indonesia's Consumer Confidence Slips in March

Indonesia's Consumer Confidence Index stood at 122.9 in March, down from 125.2 in the month prior, remaining in optimistic territory, according to a release from Bank Indonesia on its latest Consumer Survey.Bank Indonesia said sentiment remained solid, supported by consumer perceptions of both current and expected economic conditions.The Current Economic Conditions Index was maintained at 115.4, while the Consumer Expectations Index stood at 130.4, the central bank said.

$^JKSE
International

RBA Likely to Hold Cash Rate Steady in May, Hike in August, Bendigo Bank Chief Economist Says

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, according to a Friday report from the bank.Oil prices are expected to remain elevated, alongside a range of other key industrial and commercial products, until the reopening of the Strait of Hormuz despite a two-week ceasefire between the US and Iran.For Australia, the impact on inflation in the wake of the Middle East conflict is being seen via the cost of petrol and diesel, Robertson said. All energy crises come with the risk of stagflation, and this conflict carries the same risk, depending upon its duration, he added.Core inflation was only 3.3% in February, and the data for March is likely to only be marginally higher. Household spending held up reasonably in February, and spending on fuel will be higher in March, there is an expectation that discretionary spending will fall in the second quarter, Robertson said.The "RBA will need to decide in early May if the oil crisis and related disruptions will see supply and demand dangerously out of kilter," he noted.Most stock indices around the world, including the ASX 200, are down around 6% to 8% from their record highs just over a month ago.

$^AXJO
Australia

Transurban Group's March Traffic Reflects Impacts of War, Jefferies Says

Transurban Group's (ASX:TCL) average daily traffic (ADT) in March reflected pressure in Melbourne and Brisbane, indicating higher demand elasticity from elevated fuel prices and a softening consumer environment, Jefferies said in a Thursday note.But traffic growth rates are better in North America and Sydney, and heavy vehicle traffic growth remaining above cars also offers some revenue offset, the equity research firm said.For March, Jefferies estimates underlying ADT of minus 3.3% in Melbourne, minus 0.3% in Brisbane, a positive 0.7% in Sydney and 8.4% in North America.The equity research firm adjusted its second-half fiscal 2026 traffic forecasts to reflect fiscal third quarter actuals as well as an updated view on traffic through the fiscal year, saying it expects growth in Melbourne and Brisbane to be more muted than it previously thought."Traffic growth in 3Q26 was weaker than expected within our 2H26 growth forecasts," it said. "And while Transurban has inflation protection in pricing, lower traffic coupled with higher interest rates does impact."Jefferies maintained its hold rating on the company but lowered its price target to AU$13.69 from AU$13.86.Transurban's shares fell almost 3% in recent Friday trade.

$ASX:TCL
International

Japan Producer Prices Rise in March as Fuel, Chemical Costs Climb

Japan's producer prices rose in March, driven by higher fuel and import costs, with the corporate goods price index climbing 0.8% from the previous month and 2.6% from a year earlier, according to government data released Friday.Export prices rose 0.8% on the month, while import prices increased 1.5%, reflecting gains in petroleum, coal and natural gas costs.Petroleum and coal products led the increase in producer prices, contributing 0.46 percentage points to the monthly rise, followed by chemicals and related products.On a yearly basis, export prices climbed 13.3%, while import prices rose 7.9%.

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Equities

Subsea 7 Wins $1.25 Billion Pre-salt Project Contract in Brazil from Petrobras

Subsea 7 (SUBC.OL) said Thursday it won a $1.25 billion contract to work on the Sépia 2 pre-salt project in Rio de Janeiro for Brazilian state-run energy giant Petróleo Brasileiro (PJXA.F), or Petrobras.Under the supermajor contract, the Norwegian subsea engineering and construction company will provide engineering, procurement, fabrication, installation, and pre-commissioning services for the Sépia 2 field.Works will be carried out at a water depth of 2,170 meters and will involve 17 wells and a gas export line with 18 risers. Offshore operations at the site are scheduled to begin in 2029.

$PJXA.F$SUBC.OL
International

Japan Bank Lending Growth Accelerates to 4.8% in March

Japan's bank lending rose 4.8% in March from a year earlier, accelerating from the 4.5% growth in February, according to government data released Friday.Outstanding loans at major, regional and shinkin banks totaled about 667.021 trillion yen.Growth was led by major banks, where lending increased 6.3%, while regional banks saw a 4.3% rise. Shinkin banks posted a more modest 1.4% increase.

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Australia

Mesoblast's Fiscal 2026 Net Revenue Projected to be Up to $120 Million, Jefferies Says

Mesoblast (ASX:MSB) recently held its R&D day for the year, where it provided updates on the rollout of its Ryoncil product, among others, Jefferies said in a Thursday note.The investment firm particularly noted Mesoblast's fiscal 2026 net revenue guidance of between $110 million and $120 million and goal of doubling its Ryoncil net sales in the US.Jefferies said other updates that stood out are the company's potential US launch of chronic low back pain in the second quarter of 2028, if approved, and the start of the phase 3 adult steroid-refractory acute GVHD trial in the second quarter of this year.The investment firm updated the start of chronic low back pain product revenue to fiscal 2029 from fiscal 2027.Jefferies retained its buy rating on Mesoblast and cut its price target to AU$2.80 from AU$3.20.Mesoblast's shares jumped almost 5% in recent Friday trade.

$ASX:MSB
Equities

Viva Energy Group Shares Fall After Securing Federal Environment Approval for Victoria Gas Terminal

Viva Energy Group (ASX:VEA) shares fell 1% in afternoon trade on Friday after its proposed Geelong liquefied natural gas terminal in Victoria received approval under the Federal Environment Protection and Biodiversity Conservation Act on April 1.The clearance allows the gas terminal to proceed, subject to conditions, with acceptable environmental impacts, the energy company said in a statement on Thursday.

$ASX:VEA