Shares of Japanese metals refiner JX Advanced Metals Corp. slid after the company unveiled a plan to issue ¥250 billion ($1.6 billion) of bonds that can be converted into stocks to fund share buybacks. The stock fell as much as 15%, the biggest intraday decline since April 2025, after the company said Monday that it is marketing zero-coupon convertible bonds in two tranches of equal size maturing ...
Shares of Japanese metals refiner JX Advanced Metals Corp. slid after the company unveiled a plan to issue ¥250 billion ($1.6 billion) of bonds that can be converted into stocks to fund share buybacks. The stock fell as much as 15%, the biggest intraday decline since April 2025, after the company said Monday that it is marketing zero-coupon convertible bonds in two tranches of equal size maturing in 2029 and 2031. JX Advanced metals’ largest shareholder Eneos Holdings Inc. , which currently holds about 42%, will tender a portion of its take as part of the transaction. The move reflects a broader push among Japanese corporates to boost shareholder returns, while gradually dissolving capital relationships. While the stake sale had been partly anticipated, confirmation of the move could prompt a near-term pullback in shares, said Yuta Nishiyama , an equities analyst at Citigroup Global Markets Japan Inc. in a note. However, any weakness may present a buying opportunity given the company’s favorable business environment, Nishiyama said. The company also said it forecast operating income of ¥190 billion for the year ending March 2027, falling short of the ¥221 billion average analyst estimate. JX Metals, formerly part of Eneos, went public in March last year as part of a strategic pivot toward semiconductors and information and communications materials, reflecting diminishing synergies with its former parent. Read More: JX Metals To Issue ¥250 Billion Convertible Bond for Buyback
peshkov/iStock via Getty Images Since my last article, my view about Power Solutions International ( PSIX ) has changed drastically. I have been investing in the company since March 2025 and was always bullish. Since my last hold rating, I have had some concerns already, mainly because Q3 showed a clear margin pressure, weaker cash flow quality, and receivables risk, and to be fair, I had issues w...
peshkov/iStock via Getty Images Since my last article, my view about Power Solutions International ( PSIX ) has changed drastically. I have been investing in the company since March 2025 and was always bullish. Since my last hold rating, I have had some concerns already, mainly because Q3 showed a clear margin pressure, weaker cash flow quality, and receivables risk, and to be fair, I had issues with very strange stock price movement. Then I like to think that my hold thesis was logical, as PSIX was still a profitable company, the power systems end market was holding the story too, and there were no bearish signs. However, then I had a condition made by me: I need to see an improving margin direction, a cleaner cash flow trend, and a clear catalyst to re-rate the company. Now that we have Q1 2026 results, they showed a completely different picture from what I was expecting. And to be honest, I had to close my positions because I have lost money, so please keep that in mind and take my thesis with a grain of salt. Now we see that revenue is falling, EPS is going down, gross margin is weak, and the current situation does not seem to give a chance to any fast rebound that we would like to see. Sadly, the stabilization that I was waiting for did not come. Stock Price Action In all honesty, because I was trading at the time, I would like to start with share price movement these past days. My models were screaming about drying out volume and that something is about to come. And indeed it was; on May 11th, 2026, we saw that the share price collapsed almost 18%, even though earnings were announced only after market close. While I do not say this was insider trading, and I cannot prove who was selling, I do believe that we should have followed the signs, as this type of heavy selling tends to show an earnings outcome that the market anticipates. In post-market the share price collapsed even further down by 40%, but keep in mind this was due to low liquidity. However, the sto...
Pakistan is poised to become the latest partner in a China-centred trading network, known as the Belt and Road Initiative, to sell “panda bonds”. Islamabad seeks to raise as much as US$250 million through its first-ever sale of the bonds – yuan-denominated debt instruments sold by foreign entities in mainland China’s onshore market – as early as this week. Finance Minister Muhammad Aurangzeb confi...
Pakistan is poised to become the latest partner in a China-centred trading network, known as the Belt and Road Initiative, to sell “panda bonds”. Islamabad seeks to raise as much as US$250 million through its first-ever sale of the bonds – yuan-denominated debt instruments sold by foreign entities in mainland China’s onshore market – as early as this week. Finance Minister Muhammad Aurangzeb confirmed on Saturday that Islamabad was preparing to access Chinese capital markets with the sale – the...
French president reaches out to new allies after setbacks in relations with his country’s former colonies in west Africa A French-African summit held every few years since 1973 is taking place in a non-francophone country for the first time on Tuesday as Emmanuel Macron tries to rebuild France’s role on the continent after setbacks in its former colonies. More than 30 heads of state and government...
French president reaches out to new allies after setbacks in relations with his country’s former colonies in west Africa A French-African summit held every few years since 1973 is taking place in a non-francophone country for the first time on Tuesday as Emmanuel Macron tries to rebuild France’s role on the continent after setbacks in its former colonies. More than 30 heads of state and government are meeting in Kenya’s capital, Nairobi, for this year’s iteration of the summit. Named Africa Forward, it is being seen by analysts as an attempt by France to court new allies. Continue reading...
Aditya Chakrabortty on the Labour leader’s predicament – and if he may be the last prime minister of the two-party system In these highly polarised times, dunking on the prime minister – and this PM in particular – is the one thing that seems to unite people in fury, disappointment and loathing. So as he rolled his sleeves up to address the nation on Monday morning, after one of the worst election...
Aditya Chakrabortty on the Labour leader’s predicament – and if he may be the last prime minister of the two-party system In these highly polarised times, dunking on the prime minister – and this PM in particular – is the one thing that seems to unite people in fury, disappointment and loathing. So as he rolled his sleeves up to address the nation on Monday morning, after one of the worst election results in Labour’s history, Keir Starmer had quite the job on his hands. The Guardian columnist Aditya Chakrabortty was watching – and wincing. “There are times when I watch Keir Starmer promising he’s going to change,” he said. “He looks to me like a guy on the verge of divorce, holding flowers from the nearest petrol station and saying: 'Trust me. Honestly, it’s going to be different this time. Honestly, love, stick with me.’” But why does there seem to be such antagonism towards the Labour leader – and can anyone guide the party out of the mess they have found themselves in? Continue reading...