Osaka Exchange Inc. will increase the number of single-stock options in its market-making program in another effort to boost derivative use in Japan, bourse officials said. The number of stock options eligible under the program will rise to 50 from the current 32, said the people, who asked not to be identified because the information isn’t public. Fujikura Ltd. , Murata Manufacturing Co. , and Mi...
Osaka Exchange Inc. will increase the number of single-stock options in its market-making program in another effort to boost derivative use in Japan, bourse officials said. The number of stock options eligible under the program will rise to 50 from the current 32, said the people, who asked not to be identified because the information isn’t public. Fujikura Ltd. , Murata Manufacturing Co. , and Mizuho Financial Group Inc. are among the new names to be added, expected in August. The program, which currently includes option contracts on Toyota Motor Corp. , SoftBank Group Corp. and Mitsubishi UFJ Financial Group Inc. , provides smooth transactions with continuous bid and ask quotes from market makers. Dutch trading powerhouse Optiver , which has been instrumental in boosting the options trade in Japan, began providing liquidity for options of 12 companies and exchange-traded funds there in 2024. A spokesperson for Japan Exchange Group Inc., owner of the Tokyo and Osaka exchanges, said promoting the single-stock options market is one of its key initiatives set out in its medium-term plan , and that they will boost the market through various measures, without providing specific details. Osaka Exchange Mulls More Single-Stock Options for Market Makers Online Broker Moomoo Aims to Grow in Japan’s Options Market Osaka Bourse to Increase Single-Stock Options for Market Makers Options Giant Optiver Bets Japan’s Market Is About to Boom Japan Exchanges Eye Call-Option ETFs to Attract Global Investors
Demand for New Zealand’s 2031 government bonds surged to a record at auction after the government unexpectedly cut its projected borrowing needs for the coming years. Bids totaled NZ$1.4 billion ($822 million) for NZ$225 million of notes on offer at Thursday’s sale, pushing the bid-to-cover ratio to 6.22, the highest since the bond was first auctioned in January 2020, according to New Zealand Debt...
Demand for New Zealand’s 2031 government bonds surged to a record at auction after the government unexpectedly cut its projected borrowing needs for the coming years. Bids totaled NZ$1.4 billion ($822 million) for NZ$225 million of notes on offer at Thursday’s sale, pushing the bid-to-cover ratio to 6.22, the highest since the bond was first auctioned in January 2020, according to New Zealand Debt Management data. The auction was the first test of investor appetite since the government’s May 28 budget outlined a slower pace of debt issuance. Since then, the benchmark five-year government bond yield has fallen more than five basis points, even as markets expect the Reserve Bank to raise interest rates in the months ahead. Attention now turns to upcoming bond sales to gauge the demand for nation’s sovereign debt. “Bonds have performed well since the budget last week and have tightened relative to swaps given the modest decrease in projected issuance,” said Stuart Ritson , senior interest rate strategist at Bank of New Zealand. While drivers for the strong demand were unclear, “the weekly tenders have seen consistent strong demand.” The strong demand emerged ahead of a widely anticipated syndication of a new May 2038 nominal bond. NZDM has indicated the sale may come early in the new fiscal year, while Australia & New Zealand Banking Group expects the bonds to be marketed in July. It’s “encouraging to see good demand,” said David Croy , senior strategist at ANZ. “The last thing NZDM would want to see ahead of lumpy supply is faltering demand.”
MOZCO Mateusz Szymanski/iStock Editorial via Getty Images Investment Thesis I now assign CD Projekt S.A. ( OTGLY ) ( OTGLF ) a hold rating, an upgrade from my previous sell rating . The company delivered solid first-quarter numbers that had notable cash generation thanks to both The Witcher and Cyberpunk franchises, while at the same time increasing their investments into their next-gen releases w...
MOZCO Mateusz Szymanski/iStock Editorial via Getty Images Investment Thesis I now assign CD Projekt S.A. ( OTGLY ) ( OTGLF ) a hold rating, an upgrade from my previous sell rating . The company delivered solid first-quarter numbers that had notable cash generation thanks to both The Witcher and Cyberpunk franchises, while at the same time increasing their investments into their next-gen releases without relying on debt for financing. The company also announced their third expansion, Songs of the Past for The Witcher 3: Wild Hunt, slated for 2027, which should increase the company's visibility for their content pipeline while at the same time providing the company with another commercial release before their next blockbuster, The Witcher 4. Despite this good news for investors, the company still trades at the highest premium relative to that of its peers, and investors are already pricing in the future success of both The Witcher 4 and Cyberpunk 2, along with their respective expansions, into the company's share price. Thus, I believe that an investment case into the company lies not in the company's financial health or in their ability to generate cash but rather in management's ability to successfully execute its content pipeline over the next several years. Earnings Recap Overall, CD Projekt had solid first quarter numbers , while its two major active franchises continued on their path to generating solid cash flow. The company also continued to increase their investments toward their future pipeline. Starting with revenue, the company reached approximately $54 million (all figures in PLN have been converted to USD), implying a 6% increase YoY. At the same time, net profit came in at around $30 million. Although this represents a 5% YoY decline, the profitability was exceptional given that the company retained more than half of its revenue as profit. Profit and Loss Account (CD Projekt Q1 2026 Investor Presentation) Interestingly enough, if you read my previous ea...
Asian equities traded lower on Thursday following losses on Wall Street due to rising tensions between the US and Iran. Iran attacked Kuwait International Airport, prompting Israel and the US to consider further strikes, which increased oil prices and inflation concerns. Bitcoin ( BTC-USD ) extended its decline to as low as $61,000 in early June, its weakest level since before the Iran conflict es...
Asian equities traded lower on Thursday following losses on Wall Street due to rising tensions between the US and Iran. Iran attacked Kuwait International Airport, prompting Israel and the US to consider further strikes, which increased oil prices and inflation concerns. Bitcoin ( BTC-USD ) extended its decline to as low as $61,000 in early June, its weakest level since before the Iran conflict escalated in late February. Gold traded around $4,450 an ounce and was down almost 2% for the week. WTI crude futures fell toward $95 per barrel. The benchmark KOSPI fell more than 1% to around 8,700. Japan's ( NKY:IND ) fell 1.47% toward 67,000, while the broader Topix Index declined 0.8% to 3,964 . The Japanese yen traded around 159.9 per dollar. On the policy front, Bank of Japan Governor Kazuo Ueda said the central bank should weigh the costs and benefits of raising interest rates if inflation risks begin to outweigh downside risks to economic growth. China's ( SHCOMP ) fell 0.55% to 4,055, while the Shenzhen Component lost 0.4% to 15,651, and the offshore yuan The People's Bank of China kept its daily liquidity injections at zero for the second time on Thursday after suspending seven-day reverse repo operations for the first time in nearly two years. Hong Kong ( HSI ) fell 1.57% to 25,364, extending losses from the previous session. India ( SENSEX ) fell 0.11% to 74,080, marking a second straight day of losses. The Indian rupee edged lower to around 95.7 per dollar. Investors are also awaiting the RBI’s policy decision and Q1 GDP data later today. Australia ( AS51 ) fell 1.15% to 8,675 in Thursday's morning session, reversing gains from the prior session. The Australian dollar held below $0.715, staying near a two-week low. In the U.S. on Wednesday, all three major indexes ended lower amid fresh escalation to the war in the Middle East. Investors are now focused on Friday’s nonfarm payrolls report for further clues on the Fed’s policy outlook. U.S. stock futures moved lo...
India’s markets regulator has alleged that the owner of Swiss gold refiner Valcambi SA overstated revenue, according to an interim order issued Wednesday. Mumbai-listed Rajesh Exports Ltd. prima facie misrepresented about 15.2 trillion rupees ($159 billion) — equaling 99.80% of its revenues from subsidiaries over the five fiscal years through March 2025 — the Securities and Exchange Board of India...
India’s markets regulator has alleged that the owner of Swiss gold refiner Valcambi SA overstated revenue, according to an interim order issued Wednesday. Mumbai-listed Rajesh Exports Ltd. prima facie misrepresented about 15.2 trillion rupees ($159 billion) — equaling 99.80% of its revenues from subsidiaries over the five fiscal years through March 2025 — the Securities and Exchange Board of India said in its order and asked the company to make “true and fair” disclosures in its financial statements and other filings. Shares of the company, valued at about $321 million, hit their 5% daily lower limit on Thursday and have lost more than 40% this year. The regulator also barred Rajesh Mehta , the company’s majority shareholder and chairman from trading in the company’s stock until further notice, saying the revenue figures allowed the company to present an “inflated and misleading picture of its scale, financial position and health.” The case also adds to scrutiny of auditors’ role in flagging accounting lapses at Indian companies. Last year, SEBI barred the founders of Droneacharya Aerial Innovations Ltd. over alleged misuse of IPO proceeds and misrepresentation of financial statements. In the Rajesh Exports order, the regulator also cited “prima facie misconduct and dereliction of duties” by the company’s statutory auditors. Rajesh Mehta and statutory auditor BSD & Co. didn’t immediately respond to email queries. The investigation revealed a pattern of “routing corporate funds through personal accounts, misutilization of funds to promoter-controlled entities, and obscuring fund trails” and there is a “credible and real risk” that the firm’s assets may be alienated or dissipated without immediate restraint, SEBI member Kamlesh Chandra Varshney said in the order. The Bengaluru-headquartered company, which touts itself as the largest exporter of gold products from India, bought Valcambi in 2015 for $400 million. Life Insurance Corp., the country’s biggest insurer, and ...
Taiwan's Foxconn announced on Thursday a strategic collaboration with Intel to jointly develop and deploy next-generation AI infrastructure and intelligent computing platforms. Foxconn, the world's largest contract electronics manufacturer, said in a statement that the partnership aims to create comprehensive AI solutions spanning silicon, rack, system and application layers. (Rep...
Taiwan's Foxconn announced on Thursday a strategic collaboration with Intel to jointly develop and deploy next-generation AI infrastructure and intelligent computing platforms. Foxconn, the world's largest contract electronics manufacturer, said in a statement that the partnership aims to create comprehensive AI solutions spanning silicon, rack, system and application layers. (Reporting by Wen-Yee Lee; Editing by Christopher Cushing)