PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCKS NEWS: Star Entertainment (SGR AT) appoints a group CEO and MD

AUSTRALIA

GWA Group (GWA AT) - Co. sees FY24 normalised group EBIT ex-items at AUD 73mln-74mln and group rev. AUD 411mln-413mln. (Newswires)

Macquarie Group (MQG AT) - Macquarie Asset Management is to sell Macquarie European Infrastructure Fund 4’s 40% stake in Hydro Dolomoti Energia in which the terms of the transaction imply a valuation of approximately EUR 1bln for the business. (Newswires)

Qualitas (QAL AT) - Co. announced a AUD 550mln private credit mandate, while new mandate brings its total funds under management to AUD 8.6bln. (Newswires)

Quickstep Holdings (QHL AT) - Co. announced a significant restructuring of structures business unit and associated support functions at its Bankstown facility. (Newswires)

Seven West Media (SWM AT) - Co. will see an exodus of staff including three members of the management team in the latest round of redundancies. (The Australian)

Star Entertainment (SGR AT) - Co. appoints Steve McCann as group CEO and MD who will join the Co. on July 8th. (Newswires)

Airlines - Virgin Australia’s IPO is reportedly set to take off by Christmas. (The Australian)

JAPAN

Chiyoda Corp (6366 JT) - Co. revises FY23/24 (JPY) group net to a loss of 15.0bln from a profit of 18.0bln. (Newswires)

JCR Pharmaceuticals (4552 JT) - Co. regains full commercialisation rights to JR-141. (Newswires)

Mitsubishi UFJ Financial Group (8306 JT) - Co. is to invest USD 195mln in a Thai mobile payment service under CP Group. (Nikkei)

Nissan (7201 JT) - Co. is to start producing EVs for Dongfeng Motor at its Wuhan factory by year-end. (Nikkei)

Nomura Holdings (8604 JT) - Co. reports FY23/24 (JPY) net rose 78.8% Y/Y to 165.9bln, pretax profit rose 83.2% Y/Y to 273.9bln. (Newswires)

Sumitomo Pharma (4506 JT) - Co. is mulling laying off employees in Japan as early as the current fiscal year after US job cuts, while Co. is taking other cost-cutting steps such as scaling back research and development. (Nikkei)

Suntory (2587 JT) - Co. is eyeing India as a production and export hub. (Newswires)

Toyota (7203 JT) - Co. sold JPY 325.9bln of cross-held shares of listed companies in FY23/24. (Newswires)

FX - Japanese Finance Minister Suzuki said he shared serious concerns over the weakness of JPY and KRW with the South Korean Finance Minister, while he added they will continue to respond appropriately to excessive FX moves and it is desirable for FX to move stably. Furthermore, South Korea’s Finance Minister said coordinated intervention was not discussed at the meeting. (Newswires)

Other News - Bain Capital is to invest JPY 5tln in Japan over the next 5 years. (Newswires)

SOUTH KOREA

Daewoo Engineering & Construction (047040 KS) - Co. Chairman Jung Won-ju is ramping up efforts to expand the Korean builder’s global network for new business opportunities abroad. (The Korea Herald)

Geopolitical

North Korea launched a suspected ballistic missile which was believed to have fallen outside of Japan's EEZ shortly after with no damage reported, while Yonhap later reported that North Korea's missile launch was believed to have failed. (Newswires)

South Korean Marine Corps are to conduct live fire drills, according to Dong-A. (Dong-A)

26 Jun 2024 - 00:43- EquitiesGeopolitical- Source: Newswires