PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCK NEWS: BHP (BHP) CEO given ultimatum, Japan PM Abe plans JPY 2tln economic package and US - North Korea verbal jousting continues

AUSTRALIA

AMP (AMP AT)
- Co. is working with UBS regarding a possible acquisition in US. (Newswires)

BHP (BHP AT)
- Co. CEO Mackenzie has been given a 6-month period for improvement or he will lose his position, according to reports. (Newswires)

Fonterra (FSF AT)
- Co. reports FY17 net fell to NZD 745mln vs. Prev. NZD 834mln Y/Y, Co. CEO states they are not planning to bid for Murray Goulburn (MGC AT). (Newswires)

Sydney Airport (SYD AT) and Virgin Australia (VAH AT)
- Some Sydney flights were grounded amid an air traffic signal issue. (Newswires)

Wesfarmers (WES AT)
- Co. is said to be interested in Cyanco Holdings, with a deal that could be valued at AUD 650mln. (AFR)

Westpac (WBC AT)
- Co. Chairman Maxsted suggested there are no plans for Co. to sell its wealth management business. (The Australian)

Financials
- Australia banks could be facing AUD 210mln of fines related to new accountability measures. (AFR)

Basic Materials / Energy
- Australia’s crackdown on east coast LNG exports looks set to be widened to include export projects of Origin Energy and Shell to stop cheap exports of much-needed local gas, according to reports. (AFR)
- Spot gold rose 0.5% to USD 1297.30/oz.
- WTI crude rose 0.2% to USD 50.67/bbl.
- Iron ore fell 3.8% to USD 63.56/tonne.

 

JAPAN

Aeon (8267 JT)
- Co. could report H1 operating profit rose by 16% Y/Y to its highest for 11 years, according to press reports. (Newswires)

Hokkaido Electric Power (9509 JT)
- Co. reportedly may skip paying out an interim dividend. (Newswires)

Mitsubishi Motors (7211 JT)
- Co. plans to roll out small sport utility vehicle-based electric vehicles in domestic and foreign markets during the early 2020s and will make mini EVs available in Japan in 2019. (Nikkei)

Sumitomo Chemical (4005 JT)
- Co. is to make JPY 4bln investment for nucleic acid-based medicine start-up. (Newswires)

Tobacco-related
- Reports suggest there is increased risk of a tax increase on heated tobacco products. (Newswires)

Other News
- Japanese PM Abe is to compile a JPY 2tln economic package by year-end, according to reports. (Yomiuri)
- Japan’s ruling LDP narrowed election pledges to 5 clauses which include Abenomics reforms, North Korea pressure and constitution amendment, according to press reports. (Newswires)
- Japan's ruling LDP is said to have the support of 44% of voters vs. 8% for the main opposition Democratic Party, according to polls. (Nikkei)

 

SOUTH KOREA

Retailers
- South Korea will begin nationwide shopping week in which Lotte Shopping (023530 KS) and Hyundai Department Store (069960 KS) will offer up to 80% discounts throughout the nationwide shopping festival. (Yonhap)

Geopolitical
- North Korea’s Foreign Minister stated that President Trump's labelling of Kim Jong Un as rocketman has made North Korean rockets’ visit to entire US mainland inevitable, while there were also separate reports that US Air Force B-1B Lancer Bombers flew over the waters east of North Korea on Saturday. (Newswires)
- China’s largest 5 banks halted all transactions involving North Korea amid sanctions. (Newswires)

25 Sep 2017 - 00:15- EnergyResearch Sheet- Source: Newswires

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