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 +1.90%, Hang Seng +0.32%, Shanghai Composite (0.07%) as of 04:10 ET

Apr 25 ,2025

  • Synopsis:

    • Asia equities ended higher almost everywhere Friday to cap a largely positive week for the region. Strongest gains for Japan's main boards and Taiwan with solid support for South Korea's Kospi. Greater China boards all higher led by Hong Kong albeit with some tapering into the close. Southeast Asia mostly higher, India lower on political developments. US futures higher, Europe opened with modest gains. US dollar higher, yen notably weaker alongside losses in the AUD and NZD. Treasury yields higher at the short end, lower at the long; JGB yields higher. Crude oil futures bouncing back again. Precious metals lower on the dollar bounce, base metals mixed.

    • Asia markets with a solid rally Friday to end a positive week. Sentiment improved overnight from the broad-based Wall Street rally and more constructive talk on tariffs Friday although this spoiled somewhat late on with Beijing denying for a second time it had began trade talks with the US. Nevertheless, reports from Bloomberg, Caijing and Reuters that Beijing was considering exempting some US goods from 125% tariffs, including semiconductor products, and jet engines and parts cheered traders. China stocks also supported as headlines emerged from the politburo that said the country must 'fully prepare' emergency plans to cushion external shocks.

    • Trade talks between US and Asia partners continue with South Korea appearing most advanced with an outline agreement potentially in place by July. Today, Thailand and Malaysia became the latest nations to show flexibility on non-tariff measures to secure a trade deal. In other developments, BOJ Governor Ueda maintained rate hikes will continue if underlying inflation tracks towards its 2% target. Tokyo core CPI inflation jumped above 3% in April, its highest in two years. Singapore manufacturing output jumped in March but missed expectations.

    • Denso (6902.JP) is in talks with Toyota Motor (7203.JP) for sharing costs on some raw materials with suppliers and customers. Nissan Motor (7201.JP) admitted it faces the prospect of more losses after large-scale write-downs and a $5B FY loss, according to analysts. NetEase (9999.HK) confirmed another senior executive had left the company as the company continues its retreat from gaming. TSMC's (2330.TT) CEO met with Intel's CEO to discuss collaboration; company said it would begin production of 14nm chips in 2028 for use in smartphones.

  • Digest:

    • China weighs exempting some US goods from 125% tariffs:

      • Bloomberg cited people familiar with the matter who said China is considering exempting some US goods from 125% tariffs, including medical equipment, industrial chemicals and plane leases. Chinese companies in vulnerable sectors were asked submit list of goods they need tariff exemptions for with article pointing out China's reliance on US goods such as ethane and advanced medical equipment. Separately, Caijing sources noted China has quietly exempted some US semiconductors from 125% tariffs and will instead subject them to 13% value-added tax. However, exemption list does not apply to memory chips. Markets have been looking for signs of an off-ramp with both sides having struck defiant tone and US refusing to unilaterally reduce tariffs. There also was some confusion surrounding state of talks after President Trump maintained both sides in communication despite Beijing dismissing notion that negotiations are ongoing (Reuters, Bloomberg, FT). Press have highlighted other potential complications including fentanyl, charges of FX manipulation, Beijing's unwillingness to engage in leader-level talks, and Xi's preparedness to fight amid calculation Trump will cave under market and political pressure.

    • China Politburo pledges to fully prepare emergency plans amid trade war:

      • Xinhua published April Politburo meeting readout that vowed to fully prepare emergency plans to guard against growing external shocks. Meeting chaired by President Xi Jinping emphasized need to accelerate implementation of more proactive and effective macro-policies. Pledged to make full and effective use of more aggressive fiscal policy and moderately loose monetary policy. Reaffirmed cuts to RRR and interest rates at appropriate time to maintain ample liquidity and step up support for real economy. Vowed to set up new monetary policy tools and policy financing instruments to boost technology, consumption and trade. On fiscal policy, authorities will speed up issuance and utilization of LGSB and ultra-long special treasury bonds. There was a clear focus on supporting companies affected by US tariffs and continued emphasis on improving consumption, boosting incomes of middle- and low-income earners. Bloomberg citing economists noted authorities adopt wait-and-see approach before adding new incremental policies as Beijing usually unveils support only when it's required to achieve annual growth target.

    • US trade talks with Asian officials yield progress:

      • Treasury Secretary Bessent met with Japan Finance Minister Kato in Washington on Thursday. As expected, two sides did not make reference to currency targets, instead agreeing that FX moves be determined by market and that currency volatility is harmful to economy (Japan Today). Japan Minister of economic revitalization, Ryosei Akazawa, will travel to US next week for next round of trade talks with sources saying he will press for elimination of auto tariffs. Nikkei sources also noted Japan weighing boosting purchases of soybeans as part of deal. Signs of progress in US-South Korea talks after Bessent foreshadowed an agreement of understanding next week (Bloomberg). Two sides aiming to complete trade package by 8-Jul with talks focused on tariffs, non-tariff barriers, FX and investment cooperation (Reuters). Korea raised issue of auto tariffs during Thursday talks along with offers on shipbuilding cooperation and participation in energy projects. Vietnam also kicked off talks with US, which were described as productive by USTR Greer (Reuters). US-India talks seem to have made the most progress this week with Bessent noting two sides very close to breakthrough on negotiations paving way for trade pact.

    • BOJ Governor Ueda repeats stance on rate hikes as Tokyo core inflation accelerates:

      • Speaking at G20 news conference on Thursday, BOJ Governor Ueda repeated rate hikes will continue if underlying inflation is tracking towards 2% target (Reuters). Noted global policymakers shared view tariffs impacting trade activity, weighing on business sentiment and fueling market volatility. Added he will consider discussions with his counterparts in formulating BOJ's assessment of Japan's economy at next week's meeting. Repeated that central bank will scrutinize without pre-conception whether its outlook will materialize, taking into account various data and particularly those sensitive to tariffs. While tariff developments have prompted economists to dial back BOJ rate hike expectations (Bloomberg), press sources say tariffs not enough to derail BOJ's current outlook on wages and inflation when it meets next week (Reuters). Rate hike stance also supported by latest Tokyo CPI data, which showed core inflation accelerated to two-year high of 3.4% in April from 2.4% in March and higher than consensus 3.2%. Headline inflation rose to 3.5% from 2.9%, above consensus 3.3%, reflecting fading out of energy subsidies and surge in food costs. Ex-energy and food-inflation also rose to 3.1% from 2.2%, and topped forecasts for 2.8%.

    • US-China trade war upending business and investment:

      • US-China trade war upending business and investment ties between the two countries. FT sources noted Apple (AAPL) planning to shift all production of US iPhones from China to India as early as next year. iPhone production predominantly in China though Apple has progressively moved operations to India. Apple's move also comes after Trump exempted smartphones from 125% China reciprocal tariff and 10% baseline tariff. Other US companies have been caught up in the crossfire with Reuters sources noting Air India in talks to acquire Boeing (BA) jets recently turned away by China. Media sources also noted Ford (F) halted shipments of F-150 Raptors, Mustangs, Broncos, Lincoln Navigators after China's retaliatory measures drove tariffs on these vehicles to as high as 150% (link). US retail executives (Axios), aerospace and defense manufacturers (FT) among industries voicing concerns about supply chain disruptions. Press also highlighted commodity disruptions with China having halted US LNG imports (FT) and cut back on soybean and pork purchases (link), while China-bound petroleum gas cargoes being diverted to other countries (Bloomberg).

    • Notable Gainers:

      • +12.5% 6594.JP (Nidec): reports Q4 results with operating profit ahead of StreetAccount estimates; provides mid-term plan

      • +10.4% H78.SP (Hongkong Land Holdings): to sell 147K sq ft of One Exchange Square to HKEX for HK$6.3B ($810M) and commence share buyback program of up to $200M

      • +4.9% 540719.IN (SBI Life Insurance): reports Q4 with profit after tax INR8.14B vs year-ago INR8.11

      • +4.8% 6702.JP (Fujitsu): reports FY results with revenue ahead of FactSet estimates; to launch up to 120.0M-share buyback for up to ¥170B

      • +1.6% 7201.JP (Nissan Motor): guides FY net income attributable (¥750.00-700.00B) vs prior guidance (¥80.00B) and FactSet (¥97.77B)

    • Notable Decliners:

      • -4.3% 175330.KS (JB Financial Group): reports Q1 results with operating profit KRW217.47B vs FactSet KRW300.67B

      • -4.0% 532215.IN (Axis Bank): reports Q4 standalone results with net interest income below StreetAccount estimates

      • -3.8% 035720.KS (Kakao): SK Telecom to sell 10.8M Kakao shares for KRW395.20B today via block deal

      • -3.0% 3231.JP (Nomura Real Estate Holdings): reports FY results with revenue below FactSet estimates and guidance

  • Data:

    • Economic:

      • Japan April

        • Tokyo core CPI +3.4% y/y vs consensus +3.2% and +2.4% in prior month

          • CPI excl. fresh food & energy +3.1% y/y vs consensus +2.8% and +2.2% in prior month

          • Overall CPI +3.5% y/y vs consensus +3.3% and +2.9% in prior month

      • Singapore March

        • Manufacturing production y/y +5.8% versus +0.9% in prior month

    • Markets:

      • Nikkei: 666.59 or +1.90% to 35705.74

      • Hang Seng: 70.98 or +0.32% to 21980.74

      • Shanghai Composite: (2.23) or (0.07%) to 3295.06

      • Shenzhen Composite: 5.99 or +0.31% to 1915.65

      • ASX200: Closed

      • KOSPI: 23.97 or +0.95% to 2546.30

      • SENSEX: (543.63) or (0.68%) to 79257.80

    • Currencies:

      • $-¥: +0.79 or +0.55% to 143.4140

      • $-KRW: +3.39 or +0.24% to 1434.4300

      • A$-$: (0.00) or (0.19%) to 0.6390

      • $-INR: +0.23 or +0.27% to 85.4567

      • $-CNY: (0.00) or (0.04%) to 7.2856

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