Latest news with #Asia-Pacific
Business Recorder
3 hours ago
- Business
- Business Recorder
Indian benchmarks shares track global rally on US-Japan trade deal boost
India's equity benchmarks rose on Wednesday, tracking other Asian markets as the United States' surprise trade deal announcement with Japan boosted hopes of agreements with other trading partners. The Nifty 50 rose 0.63% to 25,219.9 points and the BSE Sensex added 0.66% to 82,726.64. MSCI's broadest index for Asia-Pacific stocks outside Japan advanced 1.4%, while Japan's Nikkei 225 gained 3.5%. Stocks in Europe too surged as traders kept an eye on the EU-U.S. trade talks scheduled for later in the day. On the other hand, the prospects of an interim trade deal between India and the U.S. before Washington's August 1 deadline have dimmed, with talks deadlocked over tariff cuts on key agricultural and dairy products, Reuters reported, citing two Indian government sources. 'The gains in Indian market today have come on the back of a global rally. While there was anticipation of an interim deal between U.S. and India, it does not look like it will materialize before the August 1 deadline,' said VK Vijayakumar, chief investment strategist at Geojit Investments. Fifteen of the 16 major sectoral indexes logged gains. Heavyweights financials and information technology stocks rose 0.8% and 0.3%, respectively. India's stock benchmarks end flat as Reliance, trade jitters offset Eternal gains HDFC Bank and ICICI Bank rose 0.9% and 1%, respectively, marking their third day of gains after reporting upbeat earnings on Saturday. The broader small-caps ended flat, while mid-caps rose 0.3%. Real estate index fell 2.6%, with Lodha Developers and Oberoi Realty sliding 7.5% and 3.1%, respectively, following large block deals. Among other stocks, PNB Gilts surged 8.2% as its quarterly profit tripled on the back of gains made from securities. Tata Consumer Products slipped 2.1%, and Dr Reddy's Laboratories gained 0.6% ahead of their earnings.
Tatler Asia
9 hours ago
- Business
- Tatler Asia
Delta to resume non-stop service between LAX and Hong Kong in 2026
Delta is bringing back nonstop LAX–Hong Kong flights in 2026, re-entering a highly competitive trans-Pacific route After an eight-year hiatus, Delta Air Lines is gearing up to resume non-stop flights to Hong Kong, marking a major expansion of its Pacific strategy. Beginning June 2026, Delta will operate daily flights between Los Angeles International Airport (LAX) and Hong Kong International Airport (HKG) aboard its flagship Airbus A350‑900 aircraft. Read more: Airline rules for power banks—what you need to know Delta last offered direct service to Hong Kong in 2018 from its Seattle hub—a route it discontinued amid challenging market dynamics. It also previously flew from Detroit to Hong Kong until 2012 and briefly between Tokyo-Narita and Hong Kong until 2016. The carrier has clarified that this new run will originate from LAX, not Seattle. Delta's decision comes as trans-Pacific travel continues to rebound. According to the US International Trade Administration, international passenger traffic between the US and Asia reached 2.61 million in December 2024—an 11.7 per cent year-on-year increase, though still about 22 per cent below pre-pandemic levels in 2019. Industry-wide, Asia-Pacific carriers saw the strongest global recovery in 2024. Data from the International Air Transport Association (IATA) shows international traffic by Asia-Pacific airlines rose 26 per cent year-on-year—leading all regions—but remained about 9 per cent shy of 2019 volumes. See also: 7 ways to minimise your carbon footprint for sustainable travel that doesn't feel like a compromise Hong Kong International Airport (HKIA) also continues its recovery. In 2024, it handled approximately 53 million passengers, up 34 per cent from 2023 but still trailing its 2019 peak of 71.5 million. It ranked as the ninth-busiest airport globally for international traffic last year, underscoring its role as a major Asian hub regaining its footing after extended pandemic-related closures. With demand steadily rising and airlines reintroducing capacity, analysts expect US–Asia air travel to return to near pre-Covid levels by 2026—just in time for Delta's relaunch.
West Australian
9 hours ago
- Business
- West Australian
Pilot initiates courtship process for massive Perth Basin gas play
Pilot Energy has kicked off a formal courtship process to secure farm-out partners at the company's expansive offshore gas permit in Western Australia's North Perth Basin. The impressive 8605-square-kilometre licence, Australia's largest offshore exploration permit, encompasses both proven oil and gas play fairways along WA's Mid West coast. At the heart of Pilot's recent exploration strategy is the Leander gas prospect, a hefty trap target with an estimated 1.1 trillion cubic feet (tcf) of prospective gas resources and a probability of drilling success ranging from 24-36 per cent. The company says its standout Kingia sandstone target, within Leander, holds 536 billion cubic feet (bcf) of gas with a 31 per cent chance of success, mirroring the geological characteristics of onshore Perth Basin discoveries such as Waitsia, Erregulla and Lockyer Deep. Pilot has set the stage for a competitive farm-out by establishing a dedicated data room for suitors. It expects to receive multiple requests for a look from properly endowed industry players. The company believes that attracting a partner with the technical and commercial expertise to drill Leander will fast-track its development by leveraging its nearby Cliff Head oil platform for rapid commercialisation. The strategic infrastructure was recently acquired from Triangle Energy to spearhead Pilot's latest pivot into domestic gas, where demand is surging amid delays in other WA gas projects. The company says its farm-out process dovetails with its broader vision to lead Australia's clean energy production at the same address, where Pilot is repurposing the Cliff Head oil field into a carbon capture and storage (CCS) facility as part of its ambitious Mid West Clean Energy project. Cliff Head infrastructure includes onshore processing facilities, pipelines and the Arrowsmith production plant. The project aims to produce blue hydrogen as up to 1.2 million tonnes per annum of clean ammonia for export to high-margin Asia-Pacific markets. By integrating gas exploration with its CCS capabilities, Pilot says it can produce carbon-neutral gas, aligning with its existing decarbonisation goals and WA's push for cleaner energy. With WA's domestic gas market facing supply constraints and the growing need for gas to support renewable energy growth, Pilot's drill-ready Leander prospect could offer a compelling opportunity to local established players needing a quick-to-market project. Leander's appeal is bolstered by its robust geological profile. Pilot's technical team has identified multiple stacked pay targets within Kingia Sandstone at the prospect, mirroring the high-productivity reservoirs of multiple onshore Perth Basin giants. Should exploration prove successful, the company estimates Leander could supply gas for more than 30 years, feeding Pilot's planned ammonia plant and supporting WA's energy grid. The farm-out process is expected to intensify over the coming months, with Pilot aiming to secure partners to fund its drilling and exploration activities. A strategic pivot from traditional oil and gas to a diversified clean energy portfolio, underpinned by its potential farm-out permit and Cliff Head assets, could deliver a lightbulb moment for the ambitious company. With strong market interest already evident and a clear vision for sustainable energy, Pilot is steering toward a lucrative future in WA's dynamic energy landscape. Is your ASX-listed company doing something interesting? Contact:
CNBC
10 hours ago
- Business
- CNBC
China's $167 billion Tibetan mega-dam is set to boost these hydro-equipment and materials' stocks
China has kicked off construction on the world's largest hydropower dam, and analysts expect the colossal undertaking to be a huge boost for hydro-equipment and materials suppliers. Chinese Premier Li Qiang launched the construction of the mega-dam, located on the eastern rim of the Tibetan plateau, that is expected to produce 300 billion kilowatt-hours of electricity annually — three times the size of the Three Gorges Dam — the world's largest single source of green power. That capacity would be equal to 21% of China's entire hydropower generation last year and around 2% of the country's total power generation, according to Pierre Lau, head of Asia-Pacific utilities research at Citi. Lau named Dongfang Electric, a leading hydropower equipment manufacturer in China, as a major beneficiary of the surge in new orders from the dam's construction. With total investment for the Yarlung Zangbo hydropower project estimated at 1.2 trillion yuan ($167.8 billion) — around five times that of the Three Gorges Project — total bids for power equipment could hit as much as 120 billion yuan, Lau said. Dongfang, which enjoyed a 45% share in the conventional hydropower market, could rake in as much as 54 billion yuan from the new project, according to Lau. That would equate to 77% of the company's entire revenue in 2024, he said, although the revenue recognition may start at least five years later. Dongfang Electric saw its shares listed in Shanghai jump 10% — hitting their upper limit — on the first two trading days this week. Its shares in Hong Kong soared over 65% on Monday after the dam's ground-breaking on Saturday — shares traded 4.4% lower at 22.9 Hong Kong dollars ($2.9) Wednesday after sliding 2.8% Tuesday. The company is also better-positioned thanks to its hydropower unit production and research base in the city of Linzhi in Tibet, allowing it to develop customized equipment for the high-drop environment of the Yarlung Zangbo river, Lau said. Albert Miao, head of China energy transition and commodities research at Macquarie Capital upgraded the target price for Dongfang Electric's H-shares by 27% to HK$14.10, and A-shares by 17% to 25.50 yuan, with "outperform" ratings, citing "stronger than expected thermal power approvals and build-ups into 2030." Other top names for investors to watch include grid equipment makers Sieyuan Electric, Henan Pinggao Electric and XJ Electric, according to Lau, as the project will likely prompt a surge in demand for ultra-high voltage transmission lines and switchgears. Surging demand for cement, explosives Besides the hydropower infrastructure and equipment suppliers, analysts suggest construction of the colossal project would also benefit companies involved in production of cement and civil explosive products. Equity brokerage firm CGS International expects cement supplier Xizang Tianlu to be a major beneficiary, as the project is estimated to use more than 40 million cubic meters of concrete, translating into over 16 million tons of cement, or 1 million ton annually. "Tianlu, with all its capacity in Tibet, stands to benefit most," Macquarie's Miao said, while other players derived only a small share of revenue from Tibet. CGS International also pointed to Huaxin Cement and Anhui Conch Cement , both listed in Hong Kong as well as Shanghai, as potential winners as they could help supplement supply if Tibet's cement production falls short. Gaozheng Explosives, which has garnered around 90% of share in Tibet's civil explosives market, could reap a majority of new orders for the dam, Miao said, as it may be "unfeasible" for players outside the region to transport explosives due to strict regulation and high costs. In a filing on the Shenzhen stock exchange Tuesday, Zhejiang Jindun Fans , a ventilation system equipment supplier, warned of "abnormal fluctuation" in the trading of its stocks. While construction of the hydropower dam had kicked off, respective bidding process had not started, the company said, cautioning investors to invest "rationally." The stock soared 11% on Monday, followed by a 20% surge on Tuesday to close at 16.08 yuan ($2.24). The rally in related stocks this week was likely driven by increased visibility into the mega-dam project, according to Kai Wang, Asia equity market strategist at Morningstar. "Much of the loans and planning had already been approved back in December, but it wasn't until this past week that we saw the full scale — how big it would be, how much cement it would require," Wang added. He also highlighted Anhui Conch Cement as a preferred pick following the launch of the mega-dam, noting the stock has long been among the firm's top recommendations. The project could renew investors' interest in the name, Wang said, especially as it stands to benefit from Beijing's recent "anti-involution" policies targeting aggressive price undercutting. He maintained the price target for the Hong Kong-listed stock at HK$26. The stock last traded at HK$24.1 Wednesday. It might take up to 10 years for the dam project to be completed in phases, according to a team of economists at Nomura, who predicted the boost to the economic growth to be "most visible" in the first couple of years, leading to a gain of 0.1 percentage point in GDP growth.
Time Out
12 hours ago
- Business
- Time Out
Henley Passport Index 2025: 3 Asian countries top the list
The latest Henley Passport Index is out, and Asia dominates. This year, Singapore's passport holds on to its crown as the sole most powerful in the world, after sharing top honours with five other countries last year. Hot on its heels: Japan and South Korea in joint second position. For the uninitiated, the Henley Passport Index is likely the world's most authoritative ranking of passports based on the number of destinations their holders can enter without a prior visa. Backed by Henley & Partners, it uses exclusive Timatic data from the International Air Transport Association (IATA). In 2025, Singapore passport holders can enter a whopping 193 destinations without the hassle of applying for a visa, while Japan and South Korean passport holders can enter 190 destinations. Clearly, life's a breeze for travellers from these countries. The rest of the top ten is dominated by European countries, with their streak broken by Malaysia at No. 13, with visa-free access to 181 destinations. It's followed by Hong Kong at No. 17 with visa-free access to 169 destinations, and Brunei at No. 19 with visa-free access to 164 destinations – rounding out Asia's top five. Although India did not break into Asia's top 10 list of most powerful passports, the report recognises it for recording the largest jump in ranking over the past eight months. It leapt eight places from No. 85 to No. 77 with the addition of two destinations to its visa-free list. Of course, visa-free access goes both ways, and it's China's increasing openness that has been a significant driver of the passport power shifts we're seeing. The country has "granted visa-free access to over a dozen new passports since January", allowing 75 nationalities to cross over without a visa today (as compared to fewer than 20 nationalities just five years ago). With China's increasing openness and the powerful passports in the region – all that means is that Asia-Pacific travel is really going strong. As IATA notes, "Asia-Pacific airlines led the way (in overall demand for air travel) with 9.5% growth". 2025 Henley Passport Index: Asia's top 10 1. Singapore, 193 destinations 2. Japan, 190 destinations = South Korea, 190 destinations 3. Malaysia, 181 destinations 4. Hong Kong, 169 destinations 5. Brunei, 164 destinations 6. Macao, 144 destinations 7. Taiwan, 139 destinations 8. Timor-Leste, 96 destinations 9. China, 83 destinations 10. Thailand, 81 destinations
