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FINWIRES

Chinese Shares Open Lower After Trump Declares Naval Blockade of Hormuz

-- Chinese shares opened lower on Monday as U.S. President Donald Trump vowed to blockade the Strait of Hormuz after talks with Iran failed to reach a deal to end the war.

The Shanghai Composite Index, the main gauge of Chinese stocks, opened at 3,971.20 on Monday, 0.4% lower than the previous close of 3,986.22. The Shenzhen Component Index opened at 14,233.11, down 0.5% from 14,309.47.

Market sentiment reeled after Trump declared the immediate naval blockade of the Strait of Hormuz and threatened a military end for Iran.

In a post on Truth Social, Trump said that while diplomatic talks had been progressing, the core issue of "NUCLEAR" remained unresolved.

Trump further ordered the U.S. Navy to "seek and interdict every vessel in International Waters that has paid a toll to Iran," declaring such payments illegal extortion. He also warned Iran that the U.S. is "fully 'LOCKED AND LOADED,' and our Military will finish up the little that is left of Iran!"

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Hitachi Construction Machinery's Net Income Falls 10% in Fiscal Year 2025

Hitachi Construction Machinery's (TYO:6305) net income attributable to owners of the parent fell over 10% to 73.2 billion yen for the fiscal year 2025 from 81.4 billion yen a year earlier.The construction equipment supplier's net income per share declined to 344.06 yen from 382.83 yen a year ago, according to a Tokyo bourse filing on Friday.Revenue gained 2.5% to 1.405 trillion yen for the full year ended March 31 from 1.371 trillion yen in the prior year.It declared a final dividend of 110 yen per share, payable from May 29.For the fiscal year 2026, the company expects attributable net income of 80 billion yen, net income per share of 376.06 yen, and revenue of 1.430 trillion yen.Hitachi Construction Machinery plans to pay interim and year-end dividends of 90 yen and 100 yen per share, respectively, for the year, which is higher than the amount paid in the year-ago period.

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Canada's Food Prices Seen Steady or Cooler Ahead, Says BMO

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Hydro One to Construct Red Lake Transmission Line in Northwest Ontario

Hydro One (H.TO) will develop and construct the Red Lake transmission line in northwest Ontario, the company said on Friday.The proposed project consists of a new double-circuit 230-kilovolt transmission line that will run from Dryden Transformer Station (TS) north to Ear Falls TS, including associated station facilities and will continue on to connect to Red Lake Switching Station. It is expected to be in service by the early 2030s.The Red Lake Transmission Line is expected to add about 400 megawatts of electricity in northwest Ontario, nearly quadrupling existing capacity. It is also expected to strengthen regional reliability and reinforce the grid for newly connected northern remote communities and the broader region, a statement said.Proximate First Nations can invest in a 50% equity stake in the transmission line component of the project.Hydro One shares closed up $1.23 to $58.11 on Thursday on the Toronto Stock Exchange.

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