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 +0.27%, Hang Seng (0.13%), Shanghai Composite (0.01%) as of 04:10 ET

Sep 25 ,2025

  • Synopsis:

    • Asia equities ended mostly higher Thursday. Greater China benchmarks were mixed as the Hang Seng and Shanghai Composite dipped marginally but Shenzhen advanced again. Japan and Australia benchmarks were higher but many other boards fell including those in South Korea, Taiwan, India and Singapore. US futures higher for now, Europe opened lower. US dollar unchanged, strength in the AUD, yuan stronger after higher-than-expected PBOC fixing. Treasuries mixed. Crude oil lower, precious metals flat, base metals led higher by copper on a mine force majeure. Cryptocurrencies lower.

    • Asia equities a little directionless Thursday with no real definitive catalyst to pull the region one way or the other. More movement in the bond market as CGB yields rose to six-month highs following comments from a PBOC deputy governor who said Beijing would continue to promote the inclusion of China onshore bonds as collateral in international markets as China looks to increase overseas investor holdings. Australia sovereign yields also higher on hawkish leaning comments from the RBA following Wednesday's higher-than-expected CPI print.

    • In other developments, Treasury Secretary Bessent said the US holds leverage power over China in US aircraft engines and parts, chemicals and plastics just as Washington launched probes into imports of robotics, industrial machinery and medical equipment. South Korea's PM warned unresolved visa issues endangered proposed investments into the US. Separately, the Bank of Korea warned over increased household debt as a destabilizer to the financial system, dampening expectations of a rate cut. BOJ meeting minutes leaned hawkish with several board members calling for a rate hike when possible while Japan's ministry of finance proposed further reductions in superlong JGB issuance.

    • Chery Automobile (9973.HK) debuted on the Hong Kong stock exchange; shares substantially higher by the close. Hyundai Motor (005380.KS) said it will discontinue production of the Acura EV in the US assembled by General Motors. Anpec Electronics (6138.TT) said Yageo's (2327.TT) acquisition price is too low and believes there is room for the offer to be raised in the public tender. SK Telecom (017670.KS) said it will invest KRW 5T into AI over the next five years. Centurion Accommodation Reit (8C8U.SP) debuted in Singapore and saw its share price rise to bring Singapore's IPO proceeds to a six-year high. Hindustan Copper (513599.IN) among the copper miner stocks to benefit from a sharp rise in prices linked to a force majeure outage at a Freeport McMoRan-owned mine in Indonesia.

  • Digest:

    • BOJ board member discussions skewed hawkish in July:

      • Minutes for the July BOJ MPM revealed constructive discussions about inflation and policy normalization. Change in risk balance for inflation to neutral from downside largely stemmed from the impact of food prices. One member reiterated potential implications for inflation expectations though elevated prices would also hurt consumer sentiment. Another built the case for food prices to remain elevated and cost passthrough dynamic would lead to further permeation. This stands to be exacerbated by recent extreme heat and supply-side constraints. One member suggested inflation target on track to be achieved in the first half of the projection period (rather than second half) given US-Japan tariff agreement, positive corporate wage/price setting behavior intact and recent inflation readings. Another noted inflation expectations had been rising, and consumer sentiment has been held back mainly by inflation, warranting a phase where BOJ needs to place more emphasis on upside risks to prices and should consider communicating the price stability target would be achieved. Such views were tempered by downside risks from the temporary nature of stronger food prices, tariff headwinds against cyclical momentum, and China oversupply. Thoughts on the future conduct of monetary policy were cautiously hawkish -- a couple of remarks advocated for a rate hike when possible, given the policy rate remains below neutral. One member suggested at least two to three more months was needed to assess tariff impacts, and if US economic volatility was contained, adverse implications on Japan would be limited, offering an opportunity for BOJ to exit from its wait-and-see stance as early as by 2025-end.

    • Japan Finance Ministry proposes further reductions in superlong JGB issuance:

      • Nikkei reported MOF at a primary dealer meeting Wednesday proposed reducing the issuance of off-the-run superlong JGBs in liquidity enhancement auctions, citing a dearth of buyers. Follows earlier issuance tweaks that trimmed 20y bonds by JPY200B ($1.34B) per auction and 30y, 40y by JPY100B each from July. Liquidity enhancement auction also pared by JPY100B from August. Latest proposal calls to downsize issuance of 15.5y~39y bonds by JPY100B to JPY250B per auction. To compensate, 1y~5y tranche would be increased by JPY100B. Article noted many participants supported the idea. Unusual adjustments in two straight quarters in the middle of the year viewed as significant and indicative of meaningful efforts to curb the rise in yields. However, MOF said it was not considering any specific measures in response to calls from some participates for buybacks. Developments were not a surprise given the proposal was telegraphed in a questionnaire distributed to market participants in preparation for the primary dealer meeting. That survey also floated reducing superlong tap auctions to zero, triggering speculation this might be a prelude to buybacks.

    • Bank of Korea warns over rising household debt, risks from tariffs:

      • Bank of Korea Thursday warned persistent expectations of rising home prices in Seoul could fuel financial imbalances, despite broadly stable financial conditions at present. Said sound financial institutions, strong external payment capacity means financial system remains stable for now but noted higher loan growth in August, house price acceleration in September (Yonhap). BOK Governor Rhee said last month delaying rate cut by month or two would have little impact on greater economy, but sharp rise in house prices "would make things more difficult". Bank's financial stability report said government stimulus, lower borrowing costs would ease debt burdens but could contribute to house price rises; comes as Seoul apartment prices rose for 34th consecutive week (Bloomberg). Bank said impact of US tariffs would set to intensify, would curb corporate profits, weaken repayment capacity, which could lead to banks' credit deterioration. Warned of lingering risks from project finance loans in construction sector (Bloomberg).

    • China looking to avoid inflaming tensions as US trade talks continue:

      • At meeting with representatives from Chinese firms in New York on Tuesday, China Commerce Minister Wang Wentao urged them to avoid bringing to US the price wars currently playing out in China (Bloomberg). Comments interpreted as latest indication of China's intent to avoid inflaming tensions with US after Wang stressed importance of consensus that had been achieved following several rounds of trade talks. China's announcement this week that it will no longer seek special treatment for developing countries at WTO also seen as a de-escalation signal (FT). Reuters sources noted US and Chinese officials set to hold technical talks Thursday on trade and economic matters. Talks not expected to cover next round of high-level negotiations though positive signals over recent weeks have raised expectations of another tariff deadline extension beyond 10-Nov. Presidents Trump and Xi will meet at APEC summit in South Korea next month in bid to progress talks. Recent meeting in Madrid produced framework agreement on TikTok while press reports have also mentioned contours of a possible trade deal involving Chinese purchases of Boeing jets and agricultural products such as soybeans.

    • Economists scrap calls for November RBA rate cut amid hawkish CPI takeaways:

      • Hotter-than-expected Australia August CPI continues to reverberate on markets with policy sensitive 3Y yield up 11 bp over past two sessions to four-month high. Takeaways from the data leaned hawkish with economists flagging upside risks to Q3 CPI amid broad-based nature of August's inflation increase. NAB became latest bank to pull its forecast for a November rate cut and now believes RBA will be on hold until May-2026. TD Securities, Nomura and Deutsche Bank also withdrew November rate cut calls, and among those sticking to their November predictions UBS saw two-way risks to its view. Market pricing in less than 50% chance of a November rate cut after one had been fully priced in a month ago. Terminal rate forecasts also pushed up with market anticipating just one more rate cut left in the cycle. Signs of a disinflationary stall seen elevating importance of upcoming labor market data to provide justification for a November cut. While monthly job growth has slowed sharply in recent months, RBA Governor Bullock this week said board still assesses that some labor market tightness remains.

    • Notable Gainers:

      • +11.4% 035420.KS (NAVER): NAVER Financial confirms discussions around potential collaborations with Dunamu, including stablecoins, unlisted stock trading and stock exchange

      • +3.8% 9973.HK (Chery Automobile): opens +11.2% at HK$34.20/share on HKEx

      • +3.2% 017800.KS (Hyundai Elevator): sells 7.8M shares of HYUNDAI MOVEX for KRW73.48B

      • +1% 7267.JP (Honda Motor): to discontinue Acura EV assembled by GM in the U.S.

    • Notable Decliners:

      • -5.8% 2327.TT (Yageo): Anpec Electronics says the acquisition price from Yageo too low and believes there is room for the offer price to be raised in the public tender offer

      • -3.1% 11.HK (Hang Seng Bank): parent HSBC Holdings has directed Hang Seng Bank to sell non-performing property debt with size over $3B (HK$23.33B)

      • -2.0% 5401.JP (NIPPON STEEL): POSCO sells 7.9M shares in Nippon Steel through block trade

  • Data:

    • Economic:

      • Japan August

        • Services PPI +2.7% y/y vs consensus +2.9% and revised +2.6% in prior month

    • Markets:

      • Nikkei: 124.62 or +0.27% to 45754.93

      • Hang Seng: (33.97) or (0.13%) to 26484.68

      • Shanghai Composite: (0.34) or (0.01%) to 3853.30

      • Shenzhen Composite: 3.78 or +0.15% to 2509.29

      • ASX200: 8.50 or +0.10% to 8773.00

      • KOSPI: (1.03) or (0.03%) to 3471.11

      • SENSEX: (262.53) or (0.32%) to 81453.10

    • Currencies:

      • $-¥: (0.14) or (0.09%) to 148.7590

      • $-KRW: (4.37) or (0.31%) to 1400.6000

      • A$-$: +0.00 or +0.14% to 0.6592

      • $-INR: (0.11) or (0.12%) to 88.6716

      • $-CNY: (0.01) or (0.10%) to 7.1253

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