PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCK NEWS: Highlights include energy names after crude prices rallied over 3%

AUSTRALIA

Commonwealth Bank of Australia (CBA AT)
- CBA admitted it is reducing the number of technology partners it works with as part of cost reduction efforts that has triggered some concerns it is stepping back from being a leader on cyber security. (AFR)

Myer (MYR AT)
- Co. largest shareholder and veteran retailer Solomon Lew is said to be bitterly disappointed with the Co. and labelled it as a basket case. (SMH)

Nufarm (NUF AT)
- Co. FY 17 net AUD 114.5mln vs. Exp. AUD 118mln, rev. rose to AUD 3.11bln vs. Prev. AUD 2.79bln Y/Y. (Newswires)

Sydney Airport (SYD AT)
- Co. names Geoff Culbert for CEO role. (Newswires)

Woodside Petroleum (WPL AT)
- Co. said to be looking at Quadrant Energy’s LNG assets. (The Australian)

Basic Materials / Energy
- Spot gold rose 0.9% to USD 1309.25/oz.
- WTI crude rose 3.1% to USD 52.23/bbl.
- Iron ore fell 0.8% to USD 63.06/tonne.
- Dalian iron ore +0.6% to CNY 469/tonne.


JAPAN

Asahi (3333 JT)
- Co. could report H1 oper. profit at JPY 3.96bln vs. Co. forecast JPY 4.1bln. (Newswires)

Itochu Corp (8001 JT)
- Co. is to invest JPY 20bln on logistics facility in Japan. (Newswires)

Marubeni (8002 JT)
- Co. plans discussions with the Electricity Generating Authority of Thailand to release smart power generation systems. (Nikkei)

Shinsei Bank (8303 JT)
- Anbang has finished talks to buy a stake in the Co. (FT)

Tokyu (9005 JT)
- Co. H1 oper. Profit may increase 13% Y/Y to JPY 50bln, according to reports. (Newswires)

Toshiba (6502 JT)
- Co. chip unit sale is reportedly delayed as Apple (AAPL) has yet to sign off on terms, while KKR is reportedly attempting to woo Apple (AAPL) to change sides in its bid for Toshiba’s chip business. (Newswires)

Other News
- PM Abe confirmed to dissolve lower house of parliament on Sept. 28th & will call a snap election. (Newswires)
- Tokyo Governor Yuriko Koike began a new party named Party of Hope that will go against PM Abe's ruling LDP party in the snap election. (Nikkei)

 

SOUTH KOREA

Hana Financial Group (086790 KS)
- Mexico gives authorization ofr KEB Hana to operate. (Newswires0

Hankook Tire (161390 KS)
- Co. US unit is to increase tire prices for commercial vehicles by 3.5% from next month. (Newswires)

Posco (005490 KS)
- Co. opened a steel wire processing plant in Indiana, US. (Nikkei)

Healthcare
- South Korea's health care and cosmetics goods exports rose by 13.4% Y/Y during H1. (Yonhap)

GEOPOLITICAL
- North Korean Foreign Minister said North Korea wishes the war of words with US does not turn into real action and that President Trump's comments over the weekend were clearly a declaration of war. However, this was labelled as absurd by the White House, while North Korea’s Foreign Minister added that since the US have declared war, NK have every right to take countermeasures. (Newswires)
- US Pentagon said if North Korea does not stop its provocative actions, it will make sure the President is presented with options. (Newswires)

Other News
- BoK appointed Shin Ho-soon as its Deputy Governor. As a guide, Shin is stated to be a veteran financial expert and previously handled issues of financial stability at the BoK. (Yonhap)

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

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