Leaving BNY Website

 

You are leaving the BNY Mellon's Depositary Receipts' Website.
Linked sites are not under the control of The Bank of New York Mellon Corporation or any of its subsidiaries or affiliates (together, the "Company") and the Company is not responsible for the content of any linked site or any link contained in a linked site. If you choose to link to a website not controlled by the Company, you do so entirely at your own risk and the Company makes no warranties, either express or implied, concerning the content of such site, including the accuracy, completeness, reliability or suitability thereof for any particular purpose, nor does the Company warrant that such site or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination. The Company does not guarantee the authenticity of documents on the Internet. Links to other sites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such sites. The Company reserves the right to terminate any link at any time.

Do you wish to continue to the linked site on these terms?

Stay On Page
Leave Page

© 2025 The Bank of New York Mellon Corporation

Depositary Receipt business and services are conducted through The Bank of New York Mellon.

BNY - DR Legal Disclaimer
  

To learn more about DRs, please contact DRBrokerSolutions@bny.com.

 

The information and data provided herein are provided for general informational purposes only.  BNY does not warrant or guarantee the accuracy, timeliness or completeness of any such information or data.  BNY does not undertake any obligation to update or amend any information or data, and may change, update or amend any information or data at any time without prior notice.

 

BNY provides no advice, recommendation or endorsement with respect to any company or securities.  No information or data is intended to provide legal, tax, accounting, investment, financial, trading or other advice on any matter, and is not to be used as such.  We expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon any information or data, including market value loss on the sale or purchase of securities or other instruments or obligations.

 

Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.

 

BNY collects fees from DR holders pursuant to the terms and conditions of the DRs and any deposit agreement under which they are issued.  From time to time, BNY may make payments to an issuer to reimburse and/or share revenue from the fees collected from DR holders, or waive fees and expenses to an issuer for services provided, generally related to costs and expenses arising out of establishment and maintenance of the DR program.  BNY may pay a rebate to brokers in connection with unsponsored DR issuances; brokers may or may not disclose or pass back some or all of such rebate to the DR investor.  BNY may also use brokers, dealers or other service providers that are affiliates and that may earn or share fees and commissions.

 

BNY may execute DR foreign currency transactions itself or through its affiliates, or the Custodian or the underlying Company may execute foreign currency transactions and pay US dollars to BNY.  In those instances where it executes DR foreign currency transactions itself or through its affiliates, BNY acts as principal counterparty and not as agent, advisor, broker or fiduciary.  In such cases, BNY  has no obligation to obtain the most favorable exchange rate, makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate. BNY earns and retains revenue on its executed foreign currency transactions based on, among other things, the difference between the rate it assigns to the transaction and the rate that it pays and receives for purchases and sales of currencies when buying or selling foreign currency for its own account.  The methodology used by BNY to determine DR conversion rates is available to registered Owners upon request or can be accessed here.  In those instances where BNY's Custodian executes DR foreign currency transactions, the Custodian has no obligation to obtain the most favorable exchange rate or that the method by which the rate will be determined will be the most favorable rate, and BNY makes no representation that the rate is a favorable rate and will not be liable for any direct or indirect losses associated with the rate.  In certain instances, BNY may receive dividends and other distributions from an issuer of securities underlying DRs in U.S. dollars rather than in a foreign currency.  In such cases, BNY will not engage in or be responsible for any foreign currency transactions and it makes no representation that the rate obtained by an issuer is a favorable rate and it will not be liable for any direct or indirect losses associated with the rate.

 

BNY is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle.  BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).

 

BNY's name, brand and/or trademarks may not be used, copied or reproduced without the prior express written consent of BNY.

 

DEPOSITARY RECEIPTS ARE NOT INSURED BY THE FDIC OR ANY OTHER GOVERNMENT AGENCY, ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF, AND ARE NOT GUARANTEED BY, BNY AND ARE SUBJECT TO INVESTMENT RISKS INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED.

 

Please also see "Terms of Use."

ACCEPT

Please enable cookies in your browser if you wish to proceed.

Regulation S Disclaimer

 

Access To This Company Profile Is Restricted To Non-U.S. Persons Outside The United States Within The Meaning Of Regulation S Under The U.S. Securities Act Of 1933, As Amended (The "Securities Act").1

 

This company profile does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction or under any circumstances in which such offer or solicitation is unlawful.

 

Each person accessing this company profile, by so doing, will be deemed to have acknowledged that: (1) It is not a U.S. person (within the meaning of Regulation S under the Securities Act) and is located outside the U.S. (within the meaning of Regulation S under the Securities Act); and (2) Any securities described herein (A) have not been and will not be registered under the Securities Act or with any securities regulatory authority of any state or other jurisdiction and (B) may not be offered, sold, pledged or otherwise transferred except to persons outside the U.S. in accordance with Regulation S under the Securities Act pursuant to the terms of such securities.

 

If you agree with and accept the foregoing and the Terms of use governing this site, please select "Accept" below. Otherwise, press "Decline" to return to the previous page.

 

1 As defined in the Securities Act, the term "U.S Person" means: (1) any natural person resident in the United States; (2) any partnership or corporation organized or incorporated under the laws of the United States; (3) any estate of which any executor or administrator is a U.S. person; (4) any trust of which any trustee is a U.S. person; (5) any agency or branch of a foreign entity located in the United States; (6) any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a U.S. person; (7) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and (8) any partnership or corporation if: (A) organized or incorporated under the laws of any foreign jurisdiction; and (B) formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a)) who are not natural persons, estates or trusts.

I Accept Decline

© 2024 The Bank of New York Mellon Corporation
Depositary Receipt business and services are conducted through The Bank of New York Mellon.

Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Recap: Nikkei (0.11%), Hang Seng (0.15%), Shanghai Composite +1.94% as of 03:10 ET

Feb 29 ,2024

  • Synopsis:

    • Asian equities ended mixed Thursday in a choppy day's trading. Mainland China markets higher as Shenzhen outperformed, Hong Kong ended slightly lower. Japan markets worked their way back to the flatline after a shaky start, Seoul lower but Taipei higher post Wednesday's holiday. India tracking the flatline, Southeast Asia mixed. US futures a few points lower, Europe slightly higher at the open. US dollar unchanged, yen strengthened, AUD recovered some ground after overnight falls. Treasury and JGB yields higher, China 10Y yield at two-decade low, 30Y yield at record low. Oil lower, precious metals flat, industrial metals higher.

    • Asia markets struggled for direction Thursday with many benchmarks drifting into the month end, consolidating gains and ahead of key US and China economic data tonight and tomorrow. February proved to be the best month for the region's equity markets since November although gains were uneven as China and tech-orientated markets outperformed, while Australia's dipped on a wobble in commodity prices. However, overarching narrative has barely changed over the month with investors still looking for structurally supportive measures in China to aid its stuttering economy just as technology-driven exchanges benefited from another leg higher in AI-related stocks.

    • Today, Japan retail sales beat expectations but only just; industrial production shrank at its quickest pace since May-20, weighed by autos BOJ board member Takata the latest to voice optimism in achieving inflation target as more economists see March as 'live' meeting for a rate hike. Australian retail sales came in softer than expected, private capex came in higher than forecasts though this had mixed implications for GDP growth. New Zealand business confidence slipped while inflation metrics continued to ease; RBNZ Governor Orr reiterated bank was confident inflation is on track to return to 1-3% band in H2 2024. China's CRSC directed quant funds to phase out DMA products blamed for fueling volatility in January.

    • Welcia (3141.JP) and Tsuruha (3391.JP) are to merge with Aeon (8267.JP) to create the world's fifth largest drugstore company. Activist investor City Index Eleventh disclosed a 5.4% stake in Aozora Bank (8304.JP), the Japan-based US lender that reported a loss last month because of ties to commercial property. Alibaba (9988.HK) announced substantial price cuts to internet-based products and services. XPeng (9868.HK) and Volkswagen (VOWG3.GR) said their first joint venture car will be an electric SUV after they signed a platform and software collaboration agreement. Walt Disney (DIS) and Reliance Industries (500570.IN) signed a $8.5B agreement to merge their respective media operations in India, with Reliance investing $1.4B into the venture.

  • Digest:

    • BOJ's Takata says stable 2% inflation on the horizon, calls for discussion on exit strategies:

      • In a speech, BOJ board member Takata said conditions have reached the stage where achievement of stable 2% inflation can be envisaged. Cited meaningful changes in wage and price setting behavior -- seeing a virtuous cycle between corporate profit growth and sustained wage rises in response to elevated inflation, as well as a fundamental breakout from the historically entrenched disinflationary norm. Also noted progress in passthrough from wage hikes to prices, as well as burgeoning services price growth contributing more to headline inflation. Noted that wages have high inertia, and increases tend to push up inflation in a sustained manner. Also encouraged by growth in base wages, which have a larger impact on consumption than temporary bonuses. Looking ahead to this year's shunto talks, noted more companies are indicating bigger pay raises than last year. If this is realized on aggregate, this would be conducive for more optimism about sustained income growth. Dynamics have permeated to the final stage in the form of raising inflation expectations. Called for the need to consider exit strategies -- mentioning specific examples such as removing YCC/NIRP and reviewing the overshooting commitment -- while remaining cognizant of the balance between easing impacts and side effects.

    • China long-duration bonds extend rally as traders ramp up bets on further monetary easing:

      • China's benchmark 10Y government bond yield dipped to 2.345% in early Thursday trading, fresh low since Jun-02. Yield on 30Y notes has dropped 11 bp in past five sessions, fastest pace for such period since Aug-22 according to Bloomberg-compiled data. 2.47% yield for ultra-long bonds is also at lowest level in nearly two decades. Rally in long-duration bonds is a sign that investors are increasing bets on fresh monetary easing to consolidate nascent economic recovery. Cited OCBC strategist view that investors pushing yields lower as PBOC is firmly on easing side while additional fiscal stimulus is yet to come. SecuritiesTimes cited market watchers who attributed bond market rally to still weak economic fundamentals, larger-than-expected reduction of RRR and 5Y LPR in February and expectations of continuous monetary policy easing with more funds flowing into bonds. Added more banks allocate extra liquidity to bonds due to limited other lending channels and pressure on NIM squeeze.

    • Japan industrial production unravels post-pandemic recovery, retail sales remain lackluster:

      • Industrial production fell 7.5% m/m in January, below expectations of a 6.8% decline, and follows 1.4% rise in the previous month. Latest reading was the sharpest drop since May 2020 in the depths of the pandemic shock, bringing down index level to its lowest since August 2020. Autos the big driver, down 18.6%, while electrical machinery dropped 10.6% and tech-related electronic parts & devices fell 5.8%. Aggregate shipments fell a faster 8.3%, though still left inventories down for a second straight month. Core capital good shipments also fell sharply. METI survey projections point to gains of 4.8% in Feb and 2.0% in Mar, somewhat less bearish than last month's guidance, though remains on track for notable decline in Q1. Retail sales rose 0.8% m/m vs consensus 0.5% and follows 2.6% decline in December, marking a slow start to Q1. Growth led by sharp rebound in apparel, followed by food & beverage and appliances. Largely negated by weakness in autos (second straight decline), fuel and other category including drugs and cosmetics. Overall, combination of weak cyclical momentum and lackluster consumer demand remain consistent with recent bearish views on Q1 with early consensus polls showing expectations of a third straight quarterly contraction. Q1 output drop to some extent seen reflecting factory suspensions at Toyota group, set to fully resume operations 4-Mar.

    • Australian retail sales recover, but growth remains tepid:

      • Australian retail sales rose 1.1% m/m in January, recovering from December's upwardly revised 2.1% drop (from 2.5% drop). Discretionary categories rebounded from December with household goods +2.3% (from -8.5%), clothing, footwear and personal accessories +2.4% (from 5.7%), and department stores +1.7% (from -8.1%). Recall sharp fall in discretionary goods retailing in December widely viewed as payback for November Black Friday sales bump. Café, restaurant and takeaway food services spending saw modest growth in January, though boosted by sporting events ABS noted when smoothing out month-to-month volatility, retail turnover has been virtually unchanged over recent months. Retail sales grew 1.1% through year to January, well down on 7.7% growth recorded same period year earlier. Retail trend remains illustrative of households under pressure from cost of living, reinforcing views RBA will remain on hold in March.

    • New Zealand business confidence slips, RBNZ Governor Orr confident on inflation trajectory:

      • New Zealand ANZ business confidence index eased to 34.7 in February from 36.6 in January, then highest since mid-2014. Details more positive with firms' own activity outlook continuing to improve. There were further increases in export intensions while investment intentions rose to highest since late 2021. Inflation pressures continued to ease, albeit at a mild pace. Cost expectations and pricing intentions remain very high and trending sideways, while inflation expectations fell but are still above 4%. Speaking earlier RBNZ Governor Orr reiterated central bank is confident OCR is restricting demand but will need to remain at current restrictive level to ensure inflation returns to 1-3% target (Reuters). Said economy performing as expected while expressing high degree of confidence inflation will return to target band later this year. RBNZ meeting takeaways leaned dovish with economists continuing to anticipate rate cuts beginning in H2 2024.

    • Notable Gainers:

      • +23.5% 968.HK (Xinyi Solar Holdings): reports FY net income attributable HK$4.19B vs FactSet HK$3.74B, revenue HK$26.63B vs FactSet HK$25.63B; CEO Lee Yau Ching resigns, effective 1-Apr; vice chairman Lee Shing Put appointed new CEO

      • +9.5% 8304.JP (Aozora Bank): activist City Index Eleventh discloses 5.42% stake

      • +6.2% 3382.JP (Seven & i): reportedly considering selling Ito-Yokado store as part of reform

      • +3.1% 6770.JP (Alps Alpine Co.): reportedly to divest 46.7% stake in Alps Logistics

      • +2.0% 8725.JP (MS&AD Insurance): four major Japanese nonlife insurers reportedly to sell entire cross-shareholdings worth around ¥6.5T following price-fixing scandal

      • +0.6% 028260.KS (Samsung C&T): ISS reportedly supports proposal of activist funds related to shareholder return policies

    • Notable Decliners:

      • -18.9% AWX.SP (AEM Holdings): reports FY net income attributable (SG$1.2M) vs year-ago SG$126.8M,revenue SG$481.3M, (45%) vs year-ago SG$870.5M; CFO Leong Sook Han resigns to pursue new interests, effective 16-Ap

      • -6.6% 9888.HK (Baidu): reports Q4 revenue CNY34.95B vs FactSet CNY35.11B, adjusted EBITDA CNY8.12B vs FactSet CNY8.65B

      • -4.4% 1515.HK (China Resources Medical Holdings): guides FY net income attributable CNY250M vs restated year-ago CNY270M

      • -4.1% 3391.JP (TSURUHA Holdings): Tsuruha to acquire all of Welcia Holdings and AEON to acquire at least 27.2% and less than 51% of Tsuruha

      • -2.4% 4062.JP (IBIDEN Co.): launches ¥70B EUR-JPY convertible bonds due Mar-31, conversion price set at ¥8,983/share

  • Data:

    • Economic:

      • Japan January

        • Retail sales +0.8% m/m vs consensus +0.5% and (2.6%) in prior month

          • Retail sales +2.3% y/y vs consensus +2.0% and +2.4% in prior month

        • Industrial production (7.5%) m/m vs consensus (6.8%) and +1.4% in prior month

          • METI survey projections +4.8% in February, +2.0% in March

      • Australia

        • Q4 private capital expenditure +0.8% q/q vs consensus +0.5% and revised +0.3% in Q2

          • Equipment, plant and machinery capex (0.1%) vs +0.5% q/q in Q3

        • January private sector credit +0.4% m/m vs consensus +0.4% and +0.4% December

        • January retail sales +1.1% m/m vs consensus +1.5% and revised (2.1%) in December

      • New Zealand February

        • ANZ Business Confidence +34.7 vs +36.6 in January

    • Markets:

      • Nikkei: (41.84) or (0.11%) to 39166.19

      • Hang Seng: (25.41) or (0.15%) to 16511.44

      • Shanghai Composite: 57.32 or +1.94% to 3015.17

      • Shenzhen Composite: 55.49 or +3.36% to 1706.98

      • ASX200: 38.30 or +0.50% to 7698.70

      • KOSPI: (9.93) or (0.37%) to 2642.36

      • SENSEX: 157.69 or +0.22% to 72462.57

    • Currencies:

      • $-¥: (0.98) or (0.65%) to 149.7110

      • $-KRW: (2.53) or (0.19%) to 1332.8500

      • A$-$: +0.00 or +0.18% to 0.6507

      • $-INR: +0.01 or +0.01% to 82.9259

      • $-CNY: (0.00) or (0.07%) to 7.1927

This information and data is provided for general informational purposes only. The Bank of New York Mellon and our information suppliers do not warrant or guarantee the accuracy, timeliness or completeness of this information or data. We provide no advice nor recommendation or endorsement with respect to any company or securities. We do not undertake any obligation to update or amend this information or data. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
Please refer to "Terms Of Use".

DEPOSITARY RECEIPTS:
NOT FDIC, STATE OR FEDERAL AGENCY INSURED
MAY LOSE VALUE
NO BANK, STATE OR FEDERAL AGENCY GUARANTEE