PRE-MARKET JAPANESE AND SOUTH KOREAN STOCK NEWS: Japan is to propose a USD 65bln plan to support the domestic chip industry

JAPAN

Aeon (8267 JT) - Co. launches crypto payment on BNB Chain to bring crypto payments to Southeast Asia. (Newswires)

Citizen Watch (7752 JT) - Co. 6-month (JPY) net fell 8.3% Y/Y to 12.3bln, sees FY24/25 net to decline 4.2% Y/Y to 22.0bln. (Newswires)

Fuji Oil Holdings (2607 JT) - Co. 6-month (JPY) net fell 91.9% Y/Y to 1.0bln, sees FY24/25 net to inrease 83.9% Y/Y to 12.0bln. (Newswires)

Honda (7267 JT) - NHTSA opened recall query into roughly 1.4mln Honda North America vehicles over engine failure. (Newswires)

Nintendo (7974 JT) - Co. announced it will open on December 11th a new Donkey Kong themed area at Super Nintendo World, Universal Studios Japan in Osaka. (Nikkei)

Nippon Kayaku (4272 JT) - Co. 6-month (JPY) net fell 1.9% Y/Y to 6.0bln, sees FY24/25 net to increase 271.9% Y/Y to 15.3bln, Co. is to buy back up to 3.97% of shares for JPY 7bln and will retire Treasury shares worth 3.23% of outstanding stock on November 25th. (Newswires)

Nissan Chemical (4021 JT) - Co. 6-month (JPY) net rose 5.3% Y/Y to 20.5bln. (Newswires)

Recruit Holdings (6098 JT) - Co. 6-month (JPY) net rose 4.4% Y/Y to 222.5bln. (Newswires)

Seven & I Holdings (3382 JT) - Co. October 7-Eleven Japan same-sore sales rose 0.4% Y/Y. (Newswires)

Energy - Japan will reportedly taper gasoline subsidies at a cap of JPY 185. (Nikkei)

Tech - Japan is reportedly to propose a USD 65bln plan to support the domestic chip industry and is to call for JPY 50tln of total public/private investment in the sector over the next decade with Rapidus reported to be specifically targeted, according to Reuters citing a draft. It was later reported that Japanese PM Ishiba said they are to provide over JPY 10tln in chip and AI support by 2030. (Newswires)

Other News - Japanese PM Ishiba won a run-off vote in parliament to stay in his post and lead a minority government after receiving 221 votes vs main opposition CDP party leader Noda who received 160 votes, while 84 votes were discounted because they named other politicians. (Newswires/Al Jazeera)

SOUTH KOREA

Cosmax (192820 KS) - Co. Q3 (KRW) oper. profit rose 30.4% Y/Y to KRW 43.4bln. (Newswires)

Hyundai Motor (005380 KS) - A robot dog made by Hyuandai’s subsidiary has been deployed to beef up security at US President-elect Trump's property in Florida. (Yonhap)

Kepco Plant Service & Engineering (051600 KS) - Co. Q3 (KRW) oper. profit rose 15.3% Y/Y to KRW 42bln. (Newswires)

Geopolitical - North Korean leader Kim finalised the defence pact with Russia. (Yonhap)

11 Nov 2024 - 23:44- EnergyGeopolitical- Source: Newswires