an hour ago
Sunak shares surge as Chinese property developer says it meets restructuring terms
Sunak’s shares surged on Tuesday after the troubled Chinese property developer said it had started executing its plans to eliminate its debt after meeting restructuring conditions.
Sunak’s Hong Kong-listed shares jumped 18% to 2.75 Hong Kong dollars, trading at their highest level in two months.
The restructuring involves a full discharge and release of Sunak’s existing debt in exchange for the issuance of new notes.
Read the whole story here.
4 hours ago
Asia chip stocks see gains after technical rally on Wall Street
Asian chip stocks rose on Monday after a tech-driven rally on Wall Street led by Microsoft and Nvidia.
Shares of Taiwan Semiconductor Manufacturing Corporation were up 1.39%, outperforming Taiex’s 1.01% gain.
Hon Hai Precision Industry, known internationally as Foxconn, advanced 0.5%.
Separately, South Korea’s Samsung Electronics, which also supplies chips to Nvidia for some of its graphics cards, saw its share price rise 0.69%.
6 hours ago
South Korean producer prices slowed after two consecutive months of gains
South Korea’s producer price index climbed 0.8% year-on-year in October, a slower growth rate than the 1.3% rise seen in the previous month.
On a monthly basis, producer prices declined 0.1%, the first time in three months that the PPI declined month-on-month. This decrease was due to a 5.5% decline in the prices of agricultural, forestry and marine products.
The PPI measures monthly changes in the prices of goods shipped by industrial producers within the domestic market.
– Lim Hui Ji
7 hours ago
Stocks making the biggest moves after hours
Here are some stocks that are moving in extended trading.
Agilent Technologies – The laboratory supplies company’s stock rose nearly 7% after it beat Wall Street estimates on the top and bottom lines in the fourth quarter. Agilent reported adjusted earnings of $1.38 per share on revenue of $1.69 billion, while analysts polled by LSEG expected adjusted earnings of $1.34 and $1.67 billion.
Keysight Technology – The electronics stock climbed nearly 3% after beating earnings estimates. The company reported adjusted earnings of $1.99 per share on revenue of $1.31 billion, while analysts polled by FactSet expected adjusted earnings of $1.87 per share and $1.30 billion.
– Brian Evans
8 hours ago
Stock futures opened with little change
Stock futures were little changed on Monday after strong gains from tech companies Nvidia and Microsoft helped lift the S&P 500.
Futures tied to the Dow Jones Industrial Average slipped 5 points, or 0.01%. S&P 500 futures and Nasdaq 100 futures are hovering near the flatline.
– Brian Evans