Asian stocks traded mixed to lower on Thursday, with major news from Singapore, Malaysia and Hong Kong among the highlights in the region.
Singaporean multinational banking and financial services firm DBS (SGX:D05) posted a net profit of SG$2.81 billion for the third quarter ended Sept. 30, compared with SG$2.95 billion a year earlier, as lower market trading income offset growth in net interest income and fees.
Net interest income increased to SG$3.71 billion from SG$3.58 billion, while net fee and commission income rose to SG$1.43 billion from SG$1.36 billion.
DBS declared a total third-quarter dividend of SG$0.81 per share, comprising an interim dividend of SG$0.66 and a capital return dividend of SG$0.15, payable on or about Nov. 24.
Meanwhile, Google plans to invest $15 billion in Malaysia to expand its data center and cloud operations, with spending scheduled for 2027 and 2028.
The company will build new computing hubs and invest in water security, power generation, and workforce training as demand for AI infrastructure grows.
Construction of the campuses is expected to contribute $1.1 billion to Malaysia's economy and support more than 37,000 local jobs annually over the next two years.
Once operational, the facilities are expected to sustain more than 9,000 jobs a year, including positions for technicians, mechanical and electrical engineers, logistics and security managers.
Alphabet Chief Investment Officer Ruth Porat said the investment reflected confidence in Malaysia's leadership, workforce and digital ambitions.
Prime Minister Anwar Ibrahim welcomed the commitment as a sign of confidence in the country's people and resources.
In Hong Kong, Chinese drugmaker Ganzhou Hemay Pharmaceutical (HKG:0054) postponed its global offering and planned listing, citing market conditions, according to a filing on Wednesday.
The company launched the offering last week, seeking to raise about HK$1.04 billion at a maximum offer price of HK$18.90 per share.
It will fully refund application monies without interest and remains committed to completing the offering and listing at a later date.
Hemay had expected to raise about HK$879.3 million in net proceeds, with more than half earmarked for developing and commercializing its core product, Mufemilast, a treatment for psoriasis.
Separately, ASMPT (HKG:0522) has concluded its strategic options review and decided to retain its surface mount technology (SMT) Solutions business within the group, according to a Thursday Hong Kong stock exchange filing.
Its shares fell nearly 11% in late-morning trading.
The review, launched in January, considered a sale, joint venture, spin-off and public listing.
The board concluded that retaining the business would better support its long-term growth and shareholder value.
ASMPT expects the segment's revenue to double from its 2025 level to about $1.6 billion by 2027, with gross margin reaching about 40% and segment profit margin hitting 20%.
It cited demand from AI servers, networking, optics, and power applications for the improved outlook.
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