PRE-MARKET JAPANESE AND SOUTH KOREAN STOCK NEWS: Kobe Steel data falsification woes persist

JAPAN

Denso (6902 JT)
- Co. is to collaborate with FotoNation on image recognition. (Newswires)

Dentsu (4324 JT)
- Co. is to buy majority stake in South Africa’s FoxP2. (Newswires)

Kobe Steel (5406 JT)
- Co. said it is unsure regarding impact on earnings from the false data and tarnished reputation. (Newswires)
- Japan’s Transport Ministry ordered tire makers to conduct safety investigations following Kobe Steel falsification scandal.
- US Senator Blumenthal requested US Justice and Transport departments to launch a formal investigation into Kobe Steel.

Mitsui Sumitomo Insurance (8752 JT)
- Co. is planning to raise exposure to risky assets, including overseas equities and debt by JPY 30bln during H2. (Newswires)

Nissan (7201 JT)
- Co. unit is said to have continued unauthorized inspections at Shatai factory following recent issues. (Sankei)

NTT DoCoMo (9437 JT)
- Co. plans to release a car sharing app in Japan. (Newswires)

Other News
- Japan’s Financial Services Agency plans to devise guidelines to encourage companies to channel their retained earnings into growth investments, as the amount of profits kept by companies was reported to have totalled JPY 406tln by end-fiscal 2016. (Nikkei).

 

SOUTH KOREA

Korean Air (003490 KS)
- South Korean prosecutors denied police request for a warrant to arrest the chairman of Korean Air’s parent Hanjin Group. (Yonhap)

Other News
- South Korean official stated that US placing South Korea on monitoring list was expected and that South Korea conducts smoothing operation in FX markets in cases of sharp volatility. (Newswires)
- Unconfirmed Twitter report noted that North Korea was said to be on alert after US special ops were sent to the peninsula. (Twitter)

Data Recap
- South Korean Unemployment Rate (Sep) 3.7% vs. Exp. 3.7% (Prev. 3.8%). (Newswires)
- South Korea Export Price Index (Sep) Y/Y 10.9% (Prev. 10.7%)
- South Korea Import Price Index (Sep) Y/Y 10.7% (Prev. 9.0%)

18 Oct 2017 - 00:31- Research Sheet- Source: Newswires

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