PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCKS NEWS: Hitachi Zosen Corp (7004 JT) announced Hitachi Zosen Marine Engine Co. and IMEX Co were found to have improper rewriting in test results of shop trials for marine engines

AUSTRALIA

Freehill Mining (FHS AT) - Fatal accident occurred at Co.’s Yerbas Buenas project in Chile and operations have been temporarily suspended until an investigation is concluded. (Newswires)

Ramelius Resources (RMS AT) - Co. FY24 gold production 293k ounces (vs. upgraded guidance 285k-295k, original guidance 250k-270k), sees FY AISC at the lower end of the upgraded guidance range of AUD 1,550-1,650/oz. (Newswires)

Regis Resources (RRL AT) - Co. reported June quarter total group production of 106.4k ounces and FY24 output at 418k (guidance 415k-455k ounces). (Newswires)

Rex Minerals (RXM AT) - Co. entered into a AUD 393mln scheme implementation deed with Mach in which the latter will acquire all the shares in Rex which it does not already own for AUD 0.47/shr. (Newswires)

South32 (S32 AT) - Co. updated on Illawara Metallurgicoal Coal sale in which it noted that the transaction is expected to be completed in Q1 FY25. (Newswires)

Other News - Australia is to introduce personal bankruptcy law reforms. (AFR)

JAPAN

Hitachi Zosen Corp (7004 JT) - Co. announced Hitachi Zosen Marine Engine Co. and IMEX Co were found to have improper rewriting in test results of shop trials for marine engines. (Newswires)

Kureha Corp (4023 JT) - Co. Murakami-linked funds raise joint stake in Kureha Corp to 13.10% from 11.79%. (Newswires)

Mitsui & Co (8031 JT) - Co. is among the firms that will get a 10% stake each in the Ruwais LNG project from Abu Dhabi’s ADNOC, according to sources. (Newswires)

Toyota (7203 JT) - Co. announced certification investigation confirmed that no new cases have been identified. (Newswires)

Yaskawa Electric (6506 JT) - Co. Q1 (JPY) net fell 21.1% Y/Y to 9.2bln, sees FY24/25 net to increase 6.5% Y/Y to 54.0bln. (Newswires)

Other News

BoJ report is to reportedly reveal a broadening wage rise trend and is likely to show an increasing number of small and mid-sized firms raising wages. (Newswires)

Japan’s GPIF booked a JPY 45.4tln return for the year-ended March, while Jan-March quarterly investment return was USD 133bln on global equities rally. (Newswires)

Tokyo Governor Koike won re-election for a third term, according to exit polls cited by Reuters.

SOUTH KOREA

Hanwha Engine (082740 KS) - Co. won a KRW 114bln order. (Newswires)

Hyundai Motor (005380 KS) - Co. H1 sales in India rose 2% Y/Y to a record 272.2k units ahead of a planned IPO of its Indian unit. (Yonhap)

Samsung Electronics (005930 KS) - Co. workers are to begin a three-day strike today. (Newswires)

SK Innovation (096770 KS) - Co. declared an emergency as EV sales disappoint. (FT)

Geopolitical - North Korean leader Kim's sister said South Korea's recent drills near the border are inexcusable and explicit provocation, while she added that if North Korea's sovereignty is violated, North Korea's armed forces will immediately carry out their mission and duty according to the constitution. (Newswires/KCNA)

08 Jul 2024 - 00:34- EquitiesResearch Sheet- Source: Newswires