Leaving BNY Website

 

You are leaving the BNY 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

© 2024 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@bnymellon.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.

Back to Daily DR Market Summary

StreetAccount Summary - Asian Market Preview: Nikkei Futures (1.86%), Hang Seng Futures (0.03%), ASX SPI 200 (2.03%), S&P Futures +0.09%

Dec 18 ,2024

  • Synopsis:

    • Asia equities poised to open lower Thursday. Futures in Japan and Australia fell sharply, though Hong Kong edged lower. Nasdaq futures extending losses after a broad selloff in cash in the wake of the FOMC meeting. Dow index fell for the 10th straight session, just one shy of the longest down-streak since Oct 1974. VIX jumped to a four-month high. Japan ADRs skewed to losses, while Golden Dragon China index dropped 2.41%. Tech leads were weak; Big tech was mixed, 8.28% drop in Tesla (TSLA) was a standout, while SOX fell 3.85%. Micron Technology (MU) tumbled 14% after hours on weak guidance. Treasuries fell sharply with curve flattening. Dollar index up 1.2%, highest since 2022. Gold finished down 0.3% Bitcoin futures down 5.4%. WTI crude settled up 0.1%.

    • Broad-based capitulation in US markets reflected hawkish takeaways from FOMC as concerns of a slower pace of rate cuts next year were realized. While Fed cut rates by 25 bp as expected, guidance was tweaked in a hawkish direction and Cleveland Fed President Hammack dissented, preferring to hold. Powell said rates still "meaningfully" restrictive and Fed on track for more cuts, though they would need to see more progress on inflation. SEP takeaways also leaned hawkish pointing to two 25 bp cuts next year, less than consensus expectations of total 75 bp easing. Uncertainties surrounding Trump tariff policies stand as a key risk factor.

    • Attention turns to BOJ with still no press leaks. Recent previews have leaned on economist consensus and market pricing which have shifted towards a January hike. BOJ sources also indicated no hurry to move. Yet US market volatility playing into the December case that had anticipated a less dovish 2025 Fed rate cut trajectory and cautioned lack of BOJ action would place further pressure on yen with USD/JPY now just short of the 155 level where economists start to see FX factor as a catalyst for a December hike. Elsewhere, China long yields rose Wednesday on the back of a report PBOC signaled further discomfort over the bond market, urging financial institutions to guard against rate risks and vowed zero tolerance for "misbehaviors."

    • Japan M&A talk remains elevated mostly on the back of Honda-Nissan merger reverberations. S&P analysts concurred with equity market reactions, noting a deal would be positive for Nissan (7201.JP) and negative for Honda (7267.JP) as the market essentially saw a merger as a Nissan bailout. Some attention on Renault's (RNO.FP) stake in Nissan; officials reportedly open in principle to the merger. With CFIUS review on the Nippon-US Steel deal due 23-Dec, press reported committee still has yet to reach consensus, setting the stage for President Biden to block it. Kioxia (285A.JP) debut drew subdued takeaways after a lackluster open confirmed expectations. Outlook primarily dependent on NAND prices. Macro calendar light. New Zealand Q3 GDP came in notably weaker than expectations.

  • Pre-open Company News:

    • CIA.AU -- Nippon Steel and Sojitz Corporation to form partnership with Champion for joint ownership and development of Kamistiatusset Project

    • 4676.JP -- Fuji Media Holdings upgraded to buy from neutral at Nomura

    • 601117.CH -- China National Chemical Engineering reports Jan-Nov new contracts CNY316.39B; StreetAccount notes the year-ago figure was CNY298.22B

    • 1177.HK -- Sino Biopharmaceutical reports positive phase III trial results for lung cancer drugs

    • 1318.HK -- Mao Geping Cosmetics initiated buy at China Post Securities (timing uncertain)

    • 000963.CH -- Huadong Medicine's HDM1005 injection receives FDA phase I trial approval for treating HFpEF in obese patients

    • 5285.MK -- SD Guthrie, EcoWorld and NS Corp to jointly develop industrial park in Negeri Sembilan with GDV MYR2.95B

    • 533106.IN -- Oil India CFO Rupam Barua steps down, effective today

    • 541956.IN -- IRCON International CFO B. Mugunthan steps down, repatriates to Ministry of Railways, effective 31-Dec

    • 639.HK -- Shoucheng Holdings to sell 11.9% stake in Shougang Fushan Resources to Shougang Group at HK$2.40/share in cash

    • 544045.IN -- FILA to sell up-to 4.57% stake in DOMS Industries

    • 6841.JP -- Yokogawa Electric announces channel partner agreement with FálkinnÍsmar

    • Otsuka and Lundbeck announces full results of a Phase 3 trial of brexpiprazole in combination with sertraline for the treatment of PTSD in adults have been published in JAMA Psychiatry

  • On Deck:

    • China:

      • Economic:

        • 08:00 CST: Foreign Direct Investment Y/Y; consensus

    • Japan:

      • Economic:

        • 12:00 JST: Japan Policy Rate; consensus +0.3%

    • Australia:

      • Economic:

        • 11:00 AEST: Consumer Inflation Expectation; consensus

  • Market Data:

    • Gold (Feb 25): ($50.50) or (1.90%) to $2602.80

    • WTI Crude (Jan 25): ($0.44) or (0.62%) to $70.14

    • $-¥: +1.13 or +0.74% to 154.6360

    • $-KRW: +11.86 or +0.82% to 1451.1100

    • A$-$: (0.01) or (2.04%) to 0.6209

    • $-INR: +0.26 or +0.30% to 85.1655

    • $-CNY: +0.00 or +0.00% to 7.2855

  • If you would like to receive the Asian Market Preview daily, please search for Asia Pre-Market Updates in Alert Manager.

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