PRE-MARKET CHINESE STOCKS NEWS: Lenovo Group (992 HK) FY25/26 (USD) net rose 38% Y/Y to 1.91bln, rev. 83.1bln (exp. 80.5bln)
PBoC sets USD/CNY mid-point at 6.8373 vs exp. 6.7922 (prev. 6.8349)
Japan confirms that its Foreign Minister Motegi will attend Quad meeting in India on May 26th
PRE-MARKET CHINESE STOCKS NEWS: Lenovo Group (992 HK) FY25/26 (USD) net rose 38% Y/Y to 1.91bln, rev. 83.1bln (exp. 80.5bln)
Korea Exchange activates sidecar on KOSDAQ, buying halted due to program trading for 5 minutes
PRE-MARKET TAIWAN & SINGAPORE STOCK NEWS: Keppel (KEP SP) announced the termination of its proposed divestment of M1 to Tuas (TUA AT) unit Simba Telecom
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Aluminium Corporation of China (2600 HK) - Chalco Hong Kong, Mining Company, Port Company and the Guinean Government entered into an amended and restated mining convention, with total investment of around USD 1.0bln, annual production capacity seen at 1.2Mts and the total value of the refinery project at USD 1.68bln. (Newswires)
Lenovo Group (992 HK) - Co. FY25/26 (USD) net rose 38% Y/Y to 1.91bln, rev. 83.1bln (exp. 80.5bln), Q4 non-HKFRS attributable net 559mln (exp. 320mln; prev. 278mln Y/Y), op. 886mln (prev. 331mln Y/Y). (Newswires)
VTech Holdings (303 HK) - Co. FY26 (USD) net 134mln (prev. 157mln Y/Y), rev. 2.03bln (prev. 2.18bln Y/Y). (Newswires)
Battery Makers - China lithium battery makers, including several A-listed companies, are reportedly rushing to expand manufacturing capacity since April. (China Securities Daily)
Other News
China's MOFCOM said the EU was using overcapacity as an excuse to concoct new trade tools against China. (Newswires)
China blocked exports of high-end solar manufacturing equipment from Suzhou Maxwell Technologies to Tesla (TSLA), according to NYT citing sources. (NYT)
China is to roll out measures to promote market unification, including improving evaluation systems for areas including fiscal/taxes and statistics. (Newswires)
Data Recap
- Hong Kong CPI YY (Apr) 1.7% vs Exp. 1.9% (Prev. 1.7%)
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