PRE-MARKET JAPANESE AND SOUTH KOREAN STOCK NEWS: Mitsubishi Materials (5711 JT) data falsification, Japan returns from holiday and South Korea Consumer Confidence rose to highest in nearly 7 years

JAPAN

Asahi (2502 JT)
- Co. is bringing European beer brands Pilsner Urquell and Peroni to China. (Nikkei)

KDDI (9433 JT)
- Co. is to purchase Aeon Holdings which manages language schools. (Newswires)

Mitsubishi Materials (5711 JT)
- Co. cable unit was said to have falsified data related to O-rings for years and that possible parts with falsified data were sent to over 200 companies. (Newswires)

Nitori Holdings (9843 JT)
- Co. same-store sales fell 1.9% Y/Y during November. (Newswires)

Defence Related
- Japan and the UK are to jointly develop air to air missiles. (Nikkei)

Other News
- Japan is to exempt some high earners from tax increase, according to press reports. (Yomiuri)

 

SOUTH KOREA

Hana Financial Group (086790 KS)
- FSS is to investigate Co.’s KEB Hana Bank after the lender was found to have made a mistake in setting the benchmark money market rate in 2015. (Yonhap)

Lotte Confectionery (002270 KS)
- Co. acquired an Indian ice cream Co. for KRW 165bln as it seeks to expand its presence in South Asia. (Yonhap)

Financials
- South Korea's SMEs and Startups Minister said will first resolve the issue of technology extortion by large firms first as part of efforts to boost the growth of SMEs and added that some could view this as resulting in more regulations on big firms, but personally thinks the problem could be solved more structurally. (Yonhap)

Data Recap
- South Korean Consumer Confidence (Nov) 112.3 (Prev. 109.2); highest since Dec 2010. (Newswires)

23 Nov 2017 - 23:16- ForexResearch Sheet- Source: Newswires

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