PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCK STORIES

Australia

Rio Tinto (RIO AT) – Co. has added another USD 2.5bln to its share buyback program. (Newswires)

Tabcorp (TAH AT) - The timetable for the Co.’s AUD 11bln merger bid for Tatts Group (TTS AT) could be in doubt, with a shareholder vote scheduled for next month delayed, after a potential widening of the reasons the Australian Competition Tribunal needs to consider before the deal is given the green light. (Newswires)

Lynas (LYC AT) – Co. has initiated two separate share sale facilities. (Newswires)

Oil Search (OSH AT) – UBS and JP Morgan is to sell 31.3mln shares in the Co. owned by Papua New Guinea, with a floor price of AUD 6.55/share. (Newswires)

Seven West Media (SWM AT) – Co. says conceptual proposal received from Prime Media (PRT AT) did not result in any agreement. (Newswires)

Miners – Iron ore heads towards a bear market after plunging over 5% over concerns of Chinese demand and US monetary policy tightening.

 

 

Japan

Japan Post Holdings (6178 JT) – Co.’s JPY 1.3trl share offering is fully subscribed for in both Japan and abroad ahead of pricing next week. (Newswires)

Asahi (2502 JT) – Co. President stated in an interview that acquiring beer makers and distributors, are a priority. (Newswires)

Showa Denko (4004 JT) – Co.’s petrochemical business will likely surpass 2017 operating profit guidance. (Nikkei)

Softbank (9984 JT) – Co. is said to have halted investment talks with Deliveroo. (Newswires)

 

South Korea

Hanwha Techwin (012450 KS) – Co. is to build Vietnams first aircraft parts factory worth USD 200mln. (Newswires)

Daewoo Shipbuilding (042660 KS) – Co. stated that it won an order valued at KRW 927bln. (Newswires)

 

Other news

US President Trump announced new executive order to target individuals & companies that trade with North Korea, while there were also reports that EU agrees on new sanctions against North Korea. (Newswires/AFP)

22 Sep 2017 - 00:18- Research Sheet- Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include: