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 (0.51%), Hang Seng +1.07%, Shanghai Composite +0.23% as of 04:10 ET

Jun 05 ,2025

  • Synopsis:

    • Asia equities ended mostly higher Thursday. More gains for South Korea's Kospi post presidential election. Hang Seng and mainland China boards also higher; India, Taiwan, Singapore and most of Southeast Asia with small gains. Losses in Japan and Australia. US futures higher, Europe up in the opening hour. US dollar marginally higher after overnight losses, Asia currencies weaker although won stronger again. Treasury yields mostly higher, JGB yields lower across tenors amid smallest bid-to-cover ratio in two years in 30Y auction. Crude oil higher, base metals down, precious metals mixed.

    • Asia equities drifted Thursday with developed Asia markets in Australia and Japan declining and emerging benchmarks gaining modestly. South Korea's Kospi also enjoyed a second consecutive day of gains following Tuesday's presidential election, as newly installed President Lee ordered a review into the country's economy and the BOK warned over stagflation unless deep reform was made. Markets still await substantive trade negotiation break through. Japan said to be offering rare earths and LNG package in talks, and South Korea's new President Lee said to be talking to Trump soon. But still uncertainty over whether Xi and Trump will speak this week.

    • In other developments, Japan real wage growth maintained prior month's declines but base pay saw strongest growth since December. China Caixin services PMI edged higher within forecasts amid pickup in new business that offset renewed decline in new export orders. Australian household spending remained anemic. Taiwan inflation turned to deflation in May with decline of 0.3% m/m.

    • Japan's infrastructure ministry (MLIT) has issued a hearing notification to Japan Post Holdings (6178.JP) with the view to revoking its licence due to irregularities. Nippon Steel's (5401.JP) investment in US Steel could push its debt above its equity valuation, fueling concerns among analysts over its financial burden. Hon Hai Precision (2317.TT) reported May revenue up almost 12% y/y and up 21% in the Jan-May period. CK Infrastructure's (1038.HK) MTR unit is considering an offer for the UK's stock leading company Eversholt Rail worth around HK$42.4B.

  • Digest:

    • BOJ said to be considering slower JGB purchase reductions next year:

      • Reuters cited multiple sources indicating BOJ is considering slowing the pace of JGB purchase tapering from next fiscal year, a move that would signal its focus on avoiding market disruptions. However, consensus yet to crystalize within the BOJ as some prefer to maintain the current pace on the view the bank should focus on reducing its presence in the bond market. Final decision will be made at the BOJ's next policy meeting on June 16-17, when the board conducts a review of a current tapering plan that runs through March and comes up with a subsequent program for April 2026 onward, likely to cover a one-year period through Mar-27. Article cited minutes of the bond market hearing showed a number of requests to ease the quarterly pace of tapering to around JPY200B ($1.4B) vs current JPY400B and sources said some officials see such views as a reasonable ballpark figure. At the interim assessment, BOJ is likely to roughly maintain its taper plan for this year, which would see monthly bond buying halved to JPY3T by Mar-26. If the BOJ were to cut bond buying by JPY200B per quarter in FY26, monthly buying will fall to around JPY2T by Mar-27. This week, recall BOJ Governor Ueda's main takeaways from the bond market hearings were that most participants support continued purchase reductions, calls for interim tweaks to the FY25 plan were a minority, and it was important for BOJ to prioritize predictability with a flexible approach to the strategy from Apr-26.

    • Japan to offer rare earths-LNG package deal in US tariff talks:

      • Ahead of the next round of US-Japan trade talks in Washington, Nikkei reported Japan will propose a supply chain agreement encompassing seven rare earths and LNG, aiming to play into US scrutiny of China in order to win concessions. Proposal would help to secure essential minerals for industrial activity, which was reportedly a specific request from President Trump during last month's phone call with Prime Minister Ishiba. Follows China's restrictions on rare earth exports to the US in retaliation for tariff hikes. Corporate sector urgency on the matter has escalated sharply in recent days; auto sector called for immediate action on China restrictions, warning of disruptions in auto parts production (Reuters). Some parts manufacturers in Europe have halted operations due to rare earths shortages (Nikkei). Japan can offer expertise to the US in the processing and recycling of rare earths. Additionally, Japan has already been considering purchases of US LNG, which could substitute for sales lost to China, which has effectively halted US imports. Article also mentioned a plan for Japan to buy several billions of dollars' worth of US-made semiconductor products via companies such as Nvidia (NVDA). Cooperation in shipbuilding also has China in mind. Article suggested Japan policy makers have shifted tactics given difficulties in buying enough US products to meaningfully shrink the JPY9T bilateral trade surplus and are instead turning to alternative proposals appealing to US.

    • Bank of Korea warns on 'stagflation' unless structural reforms carried out:

      • South Korea's central bank Thursday warned country's economy showing increasing similarities to Japan's stagflationary period, must make bold structural reforms to prevent prolonged low growth. BOK said country following in Japan's footsteps with mounting private-sector debt, which in 2034 reached 207.4% of GDP close to Japan's peak 214.2% (Yonhap). Added country must draw lessons from Japan, carry out structural innovation, and 'creative destruction' to overcome aging economic framework that is outdated relative to development level. Noted post Japan's bubble-burst, asset-linked debt destabilized banking sector and led to distorted capital allocation. Said debt should be tightly controlled through regulation, decisive corporate restructuring, sustained efforts to manage household debt. Noted demographic challenges also mirrors Japan. Report comes as bank confirmed Q1 GDP contracted 0.2% q/q with manufacturing output declining 0.6% and construction 0.2% (KoreaHerald), and as new President Lee ordered emergency task force to examine economy.

    • China Caixin Services PMI increases in May, in line with estimates:

      • Caixin services PMI was 51.1, in line with consensus and improved from April's seven-month low of 50.7. Data marked 29th consecutive month of service sector expansion. Service providers signaled stronger increase in both new business and activity amid efforts to expand business and widen client pool. Meanwhile new export orders fell for first time in 2025 due to uncertain trade conditions. Employment rose in May after contraction in two prior months and backlogs of work only rose marginally. Input costs extended upward trend on higher purchase prices and wages. Meanwhile selling prices fell for fourth straight month due to intense competition and promotional activities. Business confidence strengthened from April but was still below average. Caixin Composite PMI fell to 49.6, from 51.1 in April and was in contraction for first time since 2023 due to unexpected contraction in manufacturing activities. Caixin Insight Group economist highlighted unfavorable external trade environment and domestic economic headwinds. Called for evaluation of previously launched consumption stimulus measures and follow-ups to drive sustained economic recovery.

    • Asia sectoral PMIs show clear outperformance of services over manufacturing in May:

      • S&PGlobal sectoral analysis of its May Asia PMIs showed clear division of performance between expanding services and contracting manufacturing. Noted output growth seen in 11 of 18 sectors, lowest number in 18 months. Software & services saw expansion in output, new orders, employment; consumer services, industrial services also continued growth in major sub-components albeit at reduced pace from April. Among manufacturing sectors that contracted were construction materials, metals & mining and technology equipment. Said broad outlook expectations improved across most sectors following April's dip however overall sentiment remained below average for 2024. Employment stable overall but with notable declines in autos and construction materials, offset by expansion in software & services, pharma & bio, consumer services. April's country-based index prints showed either continued contraction or slowdown in growth such as in India although with stabilization trends visible.

    • Notable Gainers:

      • +11.2% 9069.JP (SENKO Group Holdings): holder Dalton Investments discloses 5.01% stake

      • +2.0% 1038.HK (CK Infrastructure Holdings): MTR reportedly considers acquiring Eversholt Rail

      • +1.1% 13.HK (Hutchmed): Hutchmed and Innovent Biologics note NDA acceptance by NMPA for fruquintinib combination with sintilimab for treatment of advanced renal cell carcinoma

    • Notable Decliners:

      • -14.5% 489.HK (Dongfeng Motor Group): controlling shareholder Dongfeng Motor Corporation not currently involved in any restructuring of relevant assets or business operations

      • -4.8% 6178.JP (Japan Post Holdings): Japan MLIT reportedly to revoke business license of Japan Post due to irregularities

      • -3.1% 6532.JP (BayCurrent Inc): founder Arata Eguchi cuts stake to 8.03% from 9.05%

  • Data:

    • Economic:

      • China May

        • Caixin services PMI 51.1 vs consensus 51.1 and 50.7 in prior month

          • Caixin Composite PMI 49.6 vs 51.1 in prior month

      • Japan April

        • Average nominal wages +2.3% y/y vs consensus +2.6% and revised +2.3% in prior month

          • Real wages (1.8%) y/y vs consensus (1.6%) and revised (1.8%) in prior month

      • Australia April

        • Household spending +0.1% m/m vs consensus +0.2% and (0.3%) in March

          • Household spending +3.7% y/y vs consensus +3.6% and +3.5% in March

        • Trade balance A$5.41B vs consensus A$6.00B and revised A$$6.89B in March

          • Exports (2.4%) y/y vs +7.6% in March

          • Imports +1.1% y/y vs (2.2%) in March

      • South Korea Q1

        • Revised GDP (0.2%) q/q vs preliminary (0.2%) and +0.1% in prior quarter

          • GDP 0.0% y/y vs preliminary (0.1%) and revised +1.1% in prior quarter

      • Singapore April

        • Retail sales nominal y/y +0.3% versus +1.3% in prior month

    • Markets:

      • Nikkei: (192.96) or (0.51%) to 37554.49

      • Hang Seng: 252.94 or +1.07% to 23906.97

      • Shanghai Composite: 7.90 or +0.23% to 3384.10

      • Shenzhen Composite: 10.52 or +0.53% to 2010.13

      • ASX200: (2.90) or (0.03%) to 8538.90

      • KOSPI: 41.21 or +1.49% to 2812.05

      • SENSEX: 467.14 or +0.58% to 81465.39

    • Currencies:

      • $-¥: +0.49 or +0.35% to 143.2770

      • $-KRW: (3.61) or (0.27%) to 1358.3700

      • A$-$: +0.00 or +0.16% to 0.6503

      • $-INR: (0.19) or (0.22%) to 85.7107

      • $-CNY: (0.00) or (0.05%) to 7.1813

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