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 +0.92%, Hang Seng +1.63%, Shanghai Composite +0.43% as of 04:10 ET

Jun 09 ,2025

  • Synopsis:

    • Asia stocks ended higher across the board Monday. More strong gains in South Korea as it continues to outperform. Hong Kong back at three-month high, mainland China benchmarks all higher along with Japan. Taiwan, India and Southeast Asia all supported. Australia closed. US futures lower, Europe opened down. US dollar weaker to unwind some of Friday's strength, Asia currencies mostly stronger. Treasury yields mixed, JGB yields mostly higher. precious metals mixed, crude lower, base metals down.

    • Asia stocks boosted on news of the resumption of trade talks between the US and China that are set to resume in London today, as well as follow through from a positive session on Wall Street Friday. Better-than-expected US non-farm payrolls provided the background for the pop higher in US stocks which pushed fears of a recession further out. Nevertheless, China data Monday showed global trade on a knife edge as China-to-US exports plummeted in May, and factory prices contracted again. CPI was also negative but at least beat expectations.

    • In other developments, Bloomberg sources noted signs of progress in US-India negotiations after US negotiators extended their stay in the country. Japan's top negotiator Akazawa touted some progress in talks but conceded several key issues remain. South Korea's President Lee spoke with Trump on Friday without any substantive breakthrough. Japan's economy shrunk at a smaller pace than initially estimated in Q1 thanks to stronger consumption; BOJ Deputy Governor Uchida stressed importance of not allowing fiscal considerations to compromise monetary policy.

    • Sumitomo Realty & Development (8830.JP) received a letter from activist investor Elliot Investment Management in relation to shareholder returns ahead of its AGM. China Rare Earth Resources & Technology (000831.CH) traded higher Monday on reports from Beijing suggested it would relax controls of rare earth exports to EU semiconductor firms. Kakaopay (377300.KS) said to be a beneficiary if the stablecoin ecosystem is introduced in South Korea.

  • Digest:

    • US and China resume trade talks on Monday, export licenses a topic of discussion:

      • USTR Greer, Commerce Secretary Lutnick and Treasury Secretary Bessent will lead trade talks with China in London on Monday with export licenses a key topic of discussion (link, Bloomberg). Tensions had risen in recent weeks after both sides accused the other of reneging on Geneva deal, before last week's Trump-Xi call paved way for resumption of talks. China's slow walking on its Geneva promise of easing rare earths export curbs a big focus lately after automakers sounded alarm at prospect of magnet shortages disrupting production. On Friday Trump said Xi agreed to loosen rare earths restrictions and subsequent reports noted Beijing granted some approvals to EU and US, including top three US autos (Bloomberg, FT, Reuters). NEC Director Hassett confirmed US seeking agreement on rare earths from London talks (CBS News). For its part China has taken issue with US principally over tech export controls and Huawei crackdown, which were attributed in part for Beijing maintaining its rare earths export curbs. Unclear whether Monday's talks will lead to resolution of divisions between US and China, leaving fate of tariffs unknown after White House official told Bloomberg Trump plans to restore duties back to April levels or number above global 10% baseline rate if no deal reached by August deadline.

    • China May export growth slightly miss estimates with sharp falls in shipments to US:

      • Dollar-denominated exports rose 4.8% y/y in May, below Reuters consensus 5.0% and following 8.1% growth in April. Imports fell sharply at 3.4%, much worse than estimates 0.9% fall and 0.2% dip in April, leading to a trade surplus of $103.2B, versus consensus 101.3B and $96.2B in April. Data came amid temporary tariff truce with US that prompted exporters to frontload shipments and utilize 90-day window. Still customs data showed shipments to US fell 34.5% y/y, most since Feb-2020, according to Bloomberg; while imports from US was down 18.1%. Meanwhile China's exports to ASEAN and EU rose 14.8% and 12.0% respectively. Export growth in equipment manufacturing industry was highlighted, accounting for more than half of total export value in first five months of 2025 with sharp rises in EV, engineering machinery, ships and industrial robots. SCMP noted US-China's Geneva agreement provided some breathing room but trade outlook remains highly uncertain. Attention turns to latest trade talks between Vice Premier He Lifeng and US team led by Treasury Secretary Scott Bessent in London, in a bid to further ease tensions over rare-earth minerals and advanced technology (Bloomberg).

    • China CPI extends drop in May, PPI the weakest in 22 months:

      • Headline CPI fell 0.1% y/y in May, slightly better than estimates of 0.2% decline and was the same in April. Core inflation edged up to 0.6% from April's 0.5%. Food prices were down 0.4% as fresh vegetables fell 8.3% despite rises in fresh fruit and pork while non-food prices were unchanged. Rural prices dropped 0.4% versus steady urban prices. Overall goods prices dropped 0.5% while services rose 0.5%. NBS statistician pointed to sharp falls in energy prices, down 6.1%, compared with 4.8% fall in April, as main factor in fall in CPI. Meanwhile transportation rental fees, airfares and tourism prices have all risen in May due to holiday and travel promotions. PPI downtrend continued into 32nd month, down 3.3% vs consensus 3.2% drop and 2.7% decline in April. It was weakest since Jul-2023. Negative momentum continued for both upstream and downstream prices. NBS attributed decline in producer prices to high base last year and drop in global prices for oil products and chemicals. In addition, prices of coal and other raw materials at home also declined due to ample inventory amid season lull. Bloomberg noted economic headwinds caused by US tariffs may further dent Chinese consumers' willingness to spend, likely prompting manufacturers and service providers to further slash prices.

    • US-Asia trade talks making mixed progress before July tariff deadline:

      • Pace of progress in US-Asia talks getting more scrutiny with one month left before reciprocal tariff pause is set to expire (Nikkei, Bloomberg). India talks appear to have made most progress with Bloomberg sources noted US negotiators in India have extended their stay in sign negotiations are advancing. Commerce Secretary Lutnick also recently expressed optimism for a deal (Bloomberg). Japan wrapped up fifth round of talks with top negotiator Ryosei Akazawa touting progress while stressing need to protect national interests and for US to remove tariffs (Reuters). On Sunday Akazawa said plenty of issues need resolving ahead of expected Trump-Ishiba meeting on G7 sidelines and downplayed prospect of the two coming to an agreement (Nikkei). Cooperation on shipbuilding, rare earths and LNG proposals and Japan's reported offer of reduced US auto tariffs based on each country's contributions to American car industry have all been discussed in press lately. Elsewhere, South Korea's new president Lee spoke with Trump on Friday with readout noting both sides agree to reach deal as soon as possible (Reuters). China transshipment practices a sticking point ahead of US-Vietnam talks around mid-June, with American firms urging administration to avoid reimposing punitive reciprocal tariffs (FT).

    • South Korea's Kospi continues outperformance after President Lee's election win:

      • South Korea's Kospi again outperformed Monday, continuing trend from last week post Lee Jae-myung's election as President. Lee ran partly on pledges to revise commercial code aimed at country's chaebols that would broaden board fiduciary duty to shareholders, change nomination process for audit committees, protect minority shareholders (Bloomberg). Analysts further expect country's 'value-up' program to be re-energized, activist investors also to up activity (Bloomberg). Kospi up 7.0% in USD terms from Monday's close prior to election versus MSCI Asia Pac ex Japan index up around 2.5%. Country's bonds seeing longest buying streak by overseas investors since Apr-23, including $652M last Thursday alone, according to financial regulator cited by Bloomberg. Analysts said concerns over President Lee's spending plans offset by prospect of further interest rate cuts, addition of sovereigns into FTSE Russell World Government Bond index. South Korea won also outperforming peers, strengthening around 1.8% in past week against only slightly weaker US dollar.

    • Notable Gainers:

      • +29.9% 377300.KS (kakaopay): reportedly trading higher on potential introduction of Korean won-based stablecoins

      • +5.3% 4578.JP (Otsuka Holdings): presents positive interim results of Phase 3 VISIONARY study of sibeprenlimab for treatment of IgAN in adults

      • +5.0% 000831.CH (China Rare Earth Resources & Technology): China's MOFCOM says it is willing to accelerate approval of rare earth exports to EU

      • +4.2% 2057.HK (ZTO Express): Hang Seng Index inclusion effective today

      • +1.4% 267250.KS (HD HYUNDAI Co.): Doosan Enerbility reportedly considering selling Doosan Vina to HD Hyundai for around KRW400B

      • +0.6% 8830.JP (Sumitomo Realty & Development): holder Elliott Investment Management issues letter to shareholders ahead of AGM

    • Notable Decliners:

      • -9.5% 066970.KS (L&F Co.): downgraded to sell from neutral at Goldman Sachs

      • -0.7% 3086.JP (J. FRONT RETAILING): Japan reportedly considering ending duty-free for foreign visitors, raising departure levies

  • Data:

    • Economic:

      • China May

        • CPI (0.1%) y/y vs consensus (0.2%) and (0.1%) in prior month

          • PPI (3.3%) y/y vs consensus (3.2%) and (2.7%) in prior month

        • Trade balance $103.2B vs consensus $101.3B and $96.2B in prior month

          • Exports +4.8% y/y vs consensus +5.0% and +8.1% in prior month

          • Imports (3.4%) y/y vs consensus (0.9%) and (0.2%) in prior month

      • Japan

        • Q1 GDP (0.2%) q/q annualized vs consensus (0.7%) and preliminary (0.7%)

          • GDP 0.0% q/q vs consensus (0.2%) and preliminary (0.2%)

        • April current account balance ¥2,258.0B vs consensus ¥2,596.4B and ¥3,678.1B in prior month

        • May bank lending +2.4% y/y vs +2.4% in prior month

    • Markets:

      • Nikkei: 346.96 or +0.92% to 38088.57

      • Hang Seng: 388.89 or +1.63% to 24181.43

      • Shanghai Composite: 14.41 or +0.43% to 3399.77

      • Shenzhen Composite: 18.61 or +0.93% to 2026.30

      • ASX200: Closed

      • KOSPI: 43.72 or +1.55% to 2855.77

      • SENSEX: 269.05 or +0.33% to 82458.04

    • Currencies:

      • $-¥: (0.75) or (0.52%) to 144.0950

      • $-KRW: (6.90) or (0.51%) to 1353.2800

      • A$-$: +0.00 or +0.49% to 0.6524

      • $-INR: (0.17) or (0.20%) to 85.6021

      • $-CNY: (0.01) or (0.09%) to 7.1831

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