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Yahoo
11 minutes ago
- Yahoo
Head of China's Shaolin Temple removed over embezzlement claims
The head of the Chinese temple known as the birthplace of kung fu will be disrobed for "extremely" bad behaviour, Beijing's top Buddhist authority said Monday, after allegations of embezzlement saw him placed under investigation. The Shaolin Temple said on Sunday that Abbot Shi Yongxin, known as the "CEO monk" for establishing dozens of companies abroad, was suspected of "embezzling project funds and temple assets". The monastery said Shi had "seriously violated Buddhist precepts", including by allegedly engaging in "improper relationships" with multiple women. "Multiple departments" were conducting a joint investigation, it said in a statement on WeChat. In response, the Buddhist Association of China, overseen by the ruling Communist Party, said Monday it would cancel Shi's certificate of ordination. "Shi Yongxin's actions are of an extremely bad nature, seriously undermining the reputation of the Buddhist community, hurting the image of monks," the association said in an online statement. The association "firmly supports the decision to deal with Shi Yongxin in accordance with the law". Shi had previously been accused by former monks of embezzling money from a temple-run company, maintaining a fleet of luxury cars and fathering children with multiple women. China's government exercises authority over the appointment of religious leaders, and "improper" conduct is often grounds for removal from office. A hashtag related to the temple scandal had been viewed more than 560 million times on social media platform Weibo as of Monday morning. The last post to the abbot's personal account on Weibo declared: "when one's own nature is pure, the pure land is here in the present". Shi faced similar allegations in 2015 which the temple called "vicious libel". Shi, 59, took office as abbot in 1999 and in the following decades expanded Shaolin studies and cultural knowledge overseas. He helped the temple establish dozens of companies -- but received backlash for commercialising Buddhism. The temple, established in AD 495, is known as the birthplace of Zen Buddhism and Chinese kung fu. Shi was first elected vice-chairman of the Buddhist Association of China in 2002 and has served as a representative to the National People's Congress, the country's top lawmaking body. mya/oho/mtp
Yahoo
11 minutes ago
- Yahoo
3 Asian Penny Stocks With Market Caps Over US$100M
Amid favorable trade deal news, Asian markets have been buoyant, reflecting optimism across various indices. Penny stocks, a term that may seem outdated but remains relevant, often represent smaller or newer companies with potential for growth. By focusing on those with strong financials and clear growth trajectories, investors can find opportunities in this niche market segment. Top 10 Penny Stocks In Asia Name Share Price Market Cap Financial Health Rating Food Moments (SET:FM) THB4.02 THB3.97B ★★★★★☆ JBM (Healthcare) (SEHK:2161) HK$2.95 HK$2.4B ★★★★★★ Lever Style (SEHK:1346) HK$1.46 HK$921.19M ★★★★★★ TK Group (Holdings) (SEHK:2283) HK$2.51 HK$2.09B ★★★★★★ CNMC Goldmine Holdings (Catalist:5TP) SGD0.485 SGD196.57M ★★★★★☆ Goodbaby International Holdings (SEHK:1086) HK$1.20 HK$2B ★★★★★★ China Sunsine Chemical Holdings (SGX:QES) SGD0.70 SGD667.37M ★★★★★★ Yangzijiang Shipbuilding (Holdings) (SGX:BS6) SGD2.54 SGD10B ★★★★★☆ Ekarat Engineering (SET:AKR) THB0.95 THB1.4B ★★★★★★ Livestock Improvement (NZSE:LIC) NZ$0.95 NZ$135.23M ★★★★★★ Click here to see the full list of 970 stocks from our Asian Penny Stocks screener. We're going to check out a few of the best picks from our screener tool. Midland Holdings Simply Wall St Financial Health Rating: ★★★★★★ Overview: Midland Holdings Limited is an investment holding company that offers property agency services in Hong Kong, Macau, and Mainland China, with a market cap of HK$1.32 billion. Operations: The company's revenue is primarily derived from its property agency services, with HK$6.02 billion generated from residential properties and HK$46.57 million from commercial, industrial properties, and shops. Market Cap: HK$1.32B Midland Holdings, with a market cap of HK$1.32 billion, primarily earns revenue from property agency services in Hong Kong, Macau, and Mainland China. The company has become profitable over the past year and is trading at 89.6% below its estimated fair value, indicating potential undervaluation compared to peers. Midland is debt-free with high-quality earnings and a strong Return on Equity of 32.2%. Recent developments include entering into a new Cross Referral Services Framework Agreement with Legend Upstar Holdings Limited for three years starting January 2025, reflecting stronger-than-expected performance in its estate agency business. Navigate through the intricacies of Midland Holdings with our comprehensive balance sheet health report here. Explore Midland Holdings' analyst forecasts in our growth report. SenseTime Group Simply Wall St Financial Health Rating: ★★★★★★ Overview: SenseTime Group Inc. is an investment holding company that researches, develops, and sells artificial intelligence software platforms across Mainland China, Northeast Asia, Southeast Asia, and internationally with a market cap of HK$64.76 billion. Operations: The company's revenue is primarily generated from its Software & Programming segment, which accounted for CN¥3.77 billion. Market Cap: HK$64.76B SenseTime Group, with a market cap of HK$64.76 billion, generates significant revenue from its Software & Programming segment, totaling CN¥3.77 billion. The company remains unprofitable and is not expected to achieve profitability in the next three years; however, it has reduced losses by 17.8% annually over the past five years. SenseTime's financial position is bolstered by short-term assets exceeding both short and long-term liabilities, and it maintains more cash than total debt. Recent developments include a HKD 2.5 billion follow-on equity offering and board changes with new executive directors appointed to strengthen governance structures. Unlock comprehensive insights into our analysis of SenseTime Group stock in this financial health report. Understand SenseTime Group's earnings outlook by examining our growth report. Zhuzhou Tianqiao Crane Simply Wall St Financial Health Rating: ★★★★★★ Overview: Zhuzhou Tianqiao Crane Co., Ltd. manufactures and sells material handling equipment for industries such as electrolytic aluminum, steel, construction machinery, and non-ferrous sectors in China and internationally, with a market cap of CN¥5.69 billion. Operations: Zhuzhou Tianqiao Crane Co., Ltd. has not reported any specific revenue segments. Market Cap: CN¥5.69B Zhuzhou Tianqiao Crane Co., Ltd., with a market cap of CN¥5.69 billion, has shown impressive earnings growth of 87.9% over the past year, surpassing industry averages, although its five-year trend shows a decline of 7.1% annually. The company's financial health is robust, with short-term assets significantly exceeding both long and short-term liabilities and more cash than total debt. Despite low return on equity at 1.6%, it effectively manages interest payments and has reduced its debt-to-equity ratio from 13.4% to 4.5%. Recent dividend affirmations highlight shareholder returns amidst stable weekly volatility at 4%. Click to explore a detailed breakdown of our findings in Zhuzhou Tianqiao Crane's financial health report. Explore historical data to track Zhuzhou Tianqiao Crane's performance over time in our past results report. Next Steps Unlock more gems! Our Asian Penny Stocks screener has unearthed 967 more companies for you to here to unveil our expertly curated list of 970 Asian Penny Stocks. Want To Explore Some Alternatives? We've found 17 US stocks that are forecast to pay a dividend yeild of over 6% next year. See the full list for free. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SEHK:1200 SEHK:20 and SZSE:002523. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
The Hill
12 minutes ago
- The Hill
Asian shares are mixed after Wall Street sets more records for US stocks
BANGKOK (AP) — Stock markets in Asia were mixed on Monday after U.S. stocks rose to more records as they closed out another winning week. U.S. futures and oil prices were higher ahead of trade talks in Stockholm between U.S. and Chinese officials. European futures rose after the European Union forged a deal with the Trump administration calling for 15% tariffs on most exports to the U.S. The agreement announced after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump's Turnberry golf course in Scotland staves off far higher import duties on both sides that might have sent shock waves through economies around the globe. Tokyo's Nikkei 225 index lost 1% to 41,056.81 after doubts surfaced over what exactly the trade truce between Japan and U.S. President Donald Trump, especially the $550 billion pledge of investment in the U.S. by Japan, will entail. Terms of the deal are still being negotiated and nothing has been formalized in writing, said an official, who insisted on anonymity to detail the terms of the talks. The official suggested the goal was for a $550 billion fund to make investments at Trump's direction. Hong Kong's Hang Seng index gained 0.4% to 25,490.45 while the Shanghai Composite index lost 0.2% to 3,587.25. Taiwan's Taiex rose 0.3%. CK Hutchison, a Hong Kong conglomerate that's selling ports at the Panama Canal, said it may seek a Chinese investor to join a consortium of buyers in a move that might please Beijing but could also bring more U.S. scrutiny to a geopolitically fraught deal. CK Hutchison's shares fell 0.6% on Monday in Hong Kong. Elsewhere in Asia, South Korea's Kospi was little changed at 3,195.49, while Australia's S&P/ASX 200 rose 0.3% to 8,688.40. India's Sensex slipped 0.1%. Markets in Thailand were closed for a holiday. On Friday, the S&P 500 rose 0.4% to 6,388.64, setting an all-time for the fifth time in a week. The Dow Jones Industrial Average climbed 0.5% to 44,901.92, while the Nasdaq composite added 0.2%, closing at 21,108.32 to top its own record. Deckers, the company behind Ugg boots and Hoka shoes, jumped 11.3% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%. But Intell fell 8.5% after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes. Intel, which helped launch Silicon Valley as the U.S. technology hub, has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars. Companies are under pressure to deliver solid growth in profits to justify big gains for their stock prices, which have rallied to record after record in recent weeks. Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug. 1. Apart from trade talks, this week will also feature a meeting by the Federal Reserve on interest rates. Trump again on Thursday lobbied the Fed to cut rates, which he has implied could save the U.S. government money on its debt repayments. Fed Chair Jerome Powell has said he is waiting for more data about how Trump's tariffs affect the economy and inflation before making a move. The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates. In other dealings early Monday, U.S. benchmark crude oil gained 24 cents to $65.40 per barrel. Brent crude, the international standard, also added 24 cents to $67.90 per barrel. The dollar rose to 147.72 Japanese yen from 147.71 yen. The euro slipped to $1.1755 from $1.1758.
