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 (1.05%), Hang Seng +0.58%, Shanghai Composite +0.70% as of 03:10 ET

Dec 05 ,2025

  • Synopsis:

    • Asia equities edged higher Friday to finish the week with modest gains. Greater China led higher by tis tech stocks after a successful listing of Moore Threads Technology in Shanghai. More gains for the Kospi and Taiex boards, Australia also higher while India pared early losses to trade higher after the RBI rate decision. Losses in Japan and Singapore. US futures higher, Europe opened with small gains. US dollar DXY index consolidating overnight losses at 99, yen strengthened further on report BOJ was almost certain to hike rates this month; AUD and NZD also stronger, yuan resuming strengthening trend. JGB yields higher at the short end, lower at the long; Treasuries also mixed. Precious metals higher, crude futures slightly lower, copper leading base metals.

    • Asia ending the week on a positive note but volumes were noticeably lower ahead of several key catalysts later today and before year end. In the US, delayed September PCE index is not expected to be around the same level as August and not enough to alter the Fed's easing path with a cut expected next week. Consumer sentiment will also be watched closely. For the week, Asia equities closed modestly higher with Monday's steep selloff countered by a technology-led rally with most major benchmarks ending with modest gains.

    • In Friday's regional developments, the RBI cut its benchmark interest rate 25 bps as expected by a slim majority of economists and kept its neutral stance against some expectations for a hawkish pivot. It also announced another injection of liquidity into the financial system and a swaps purchase program to provide rupee support. Elsewhere, Bloomberg reported BOJ officials said the bank was ready to raise rates to 0.75% at its December meeting, sparking another step higher in JGB yields and the yen. Japan household spending unexpectedly contracted by the most since Jan-24 as car sales fell away. Philippine inflation fell to below expectations 1.5%, paving the way for the central bank to trim rates again.

    • Baidu (9888.HK) is said to be considering a Hong Kong IPO for its power enter chip unit Kunlunxin. Cambricon Technologies (688256.CH) denied it plans to triple its output of chips as reported on Thursday. Moore Threads (688795.CH) debuted on the Shanghai stockmarket and more than quadrupled by the close. LG Group (LG Electronics, 066570.KS) stocks traded higher on reports it was working on a deal to supply Microsoft with AI data center cooling solutions. Hon Hai Precision (2317.TT) reported monthly sales up 25.5% y/y as demand for AI related product continues to surge.

  • Digest:

    • BOJ ready to raise interest rates at December's meeting:

      • Bloomberg cited people familiar with the matter who said BOJ officials ready to raise interest rate by 25 bp to 0.75% at December's meeting, provided no economic or market shock in meantime. Reduced uncertainty surrounding US tariffs and scope for wage growth amid strong corporate earnings have given policymakers confidence in economic outlook. Also view that financial conditions will remain accommodative even if policy rate is raised given real rates are still negative. Board will stick with core stance that rate hikes to continue if economic and inflation realized. However, will also remain cautious on how much further rates can rise with BOJ having estimated neutral rate of 1-1.25%. Market had already moved to price in ~90% chance of December rate hike in wake of Governor Ueda's speech on Monday with sources saying that officials were aware how markets would interpret his remarks. Japan government officials also stated they would not object to a rate hike with Finance Minister Katayama saying she would leave policy specifics up to BOJ (Reuters).

    • RBI cuts benchmark interest rate by 25 bps despite 'goldilocks' economy:

      • RBI's MPC Friday cut benchmark repo rate 25 bps to 5.25% as expected by slim majority of analysts who had shifted towards hold decision in wake of strong quarterly GDP data last week. MPC voted unanimously for cut, while bank would maintain neutral stance versus some expectations of hawkish pivot. Governor Sanjay Malhotra said economy at rare 'goldilocks' moment with benign inflation and elevated growth; raised FY26 GDP forecast to 7.3% from 6.8% previously with Q3 high frequency datapoints remaining strong. Forecast headline and core inflation to stay near 4.0% in H1-26, lowered FY25 estimate. Warned merchandise exports faces headwinds but service exports remain strong. External uncertainties still pose outlook risk, trade deals with various countries present upside potential. Said would buy INR 1T of government securities via omo to inject 'durable liquidity' into financial system; engineer $5B forex swap this month in rupee support. Market reaction positive: main equity boards pared early losses, rupee rallied back through 90 per dollar, IGB yields dipped slightly.

    • Japan household spending shrinks by most since Jan-2024:

      • Japan October household spending contracted 3% y/y against forecasts for a 1% increase and September's 1.8% rise. Represented first decline in six months and largest drop since Jan-2024. Spending shrunk 3.5% on a m/m basis compared to prior month's 0.7% fall. Decline largely driven by sharp fall in auto and auto-related spending, and big drop in communications as consumers shifted to lower-priced plans. Food imports declined amid higher prices. While market almost fully pricing in December rate hike, weak consumption seen as potential complication to future increases. BOJ Outlook Report in October projected consumption to be more or less flat before returning to moderate increasing trend (also flagged downside risk to inflation if consumption declined). Japan GDP contracted 1.8% in Q3 amid negligible rise in private consumption, reflecting cost of living pressures that were shown up in real wages contracting further in September (October wage data due on 8-Dec).

    • Moore Threads make strong debut in China amid Beijing's push for tech self-reliance:

      • Chinese GPU maker Moore Threads (688795.CH) surging in Shanghai trading debut after raising CNY8B ($1.13B) in second largest onshore IPO for this year on bets company will benefit from China's push for greater tech self-reliance (Bloomberg, Reuters). Stock of Moore Threads, dubbed by analysts as "China's Nvidia", jumped 469% after being sold CNY114.28 per share during IPO. Strong enthusiasm in offering saw retail portion oversubscribed 2,750 times even after clawback as analysts noted company could become crucial force in accelerating Beijing's push to wean itself off US technology amid geopolitical rivalry with Washington. Company is seen as beneficiary from void left by Nvidia's (NVDA) forced exit from Chinese market. Meanwhile Chinese regulators and stock exchanges have eased listing requirements for unprofitable firms on tech-heavy STAR board to boost local tech startups. Slew of chipmakers including MetaX, SJ Semiconductors and Xiamen UX IC are in IPO pipelines of Shanghai Stock Exchange. Strong listing of Moore Threads is seen to bode well for these chip firms going public.

    • BOJ rate hike expectations, elevated inflation, and supply pressures weigh on JGBs:

      • JGB yield backup has been a focus this week with policy-sensitive 2Y and benchmark 10Y rate both scaling highest levels since 2007 as December rate hike expectations firmed in wake of BOJ Governor Ueda's speech on Monday (market now pricing in 90% chance). Elevated inflation has underpinned the hawkish shift with board members cognisant of upside risks from yen depreciation and labor market shortages. Inflation expectations have firmed with Japan 10Y breakeven rate hitting 1.71% this week, highest since Oct-2013 (Nikkei). Fiscal stimulus scrutiny has also contributed to the upward pressure in longer-dated yields with 30Y rate approaching record high, notwithstanding brief respite from Thursday's well-received auction (Bloomberg). There are further risk events for bond markets to navigate. Ministry of Finance will meet with primary dealers on 12-Dec with Bloomberg sources noting dealers requested government to reduce superlong issuance. Wednesday's Fed meeting could set tone for yields before BOJ policy decision a week later. Next week also sees MoF auction 5Y and 20Y notes.

    • Notable Gainers:

      • +6.9% 4062.JP (IBIDEN): GIC discloses 5.07% stake

      • +5.2% 066570.KS (LG Electronics): expectations of AI data center collaboration with Microsoft

      • +3.2% 112610.KS (CS Wind): signs KRW179.60B (€105.0M) wind tower supply contract with Siemens Gamesa Renewable Energy

      • +2.2% 011200.KS (HMM): Dongwon Group founder Kim Jae-chul remains very interested in acquiring HMM

      • +1.9% 2303.TT (United Microelectronics): reports November revenue NT$21.23B, +5.9% y/y; signs MOU with Polar Semiconductor to explore co-operation opportunities in 8-inch wafer manufacturing in U.S.

      • +1.4% 7984.JP (KOKUYO): to acquire Thien Long Group via stake purchase and tender offer for around ¥27.60B

      • +0.8% 028050.KS (Samsung E&A Co.): report of looking at acquiring Cenviro

    • Notable Decliners:

      • -12% 196170.KS (Alteogen): Halozyme announces German court today granted a preliminary injunction ordering Merck to refrain from distributing and offering Keytruda SC in Germany

  • Data:

    • Economic:

      • Japan October

        • Household spending (3.0%) y/y vs consensus +1.0% and +1.8% in prior month

          • Spending (3.5%) m/m vs (0.7%) in prior month

      • Singapore

        • October retail sales y/y +4.5% versus +2.7% in prior month

    • Markets:

      • Nikkei: (536.55) or (1.05%) to 50491.87

      • Hang Seng: 149.18 or +0.58% to 26085.08

      • Shanghai Composite: 27.01 or +0.70% to 3902.81

      • Shenzhen Composite: 30.35 or +1.24% to 2468.88

      • ASX200: 16.20 or +0.19% to 8634.60

      • KOSPI: 71.54 or +1.78% to 4100.05

      • SENSEX: 444.60 or +0.52% to 85709.92

    • Currencies:

      • $-¥: (0.35) or (0.23%) to 154.7680

      • $-KRW: (4.97) or (0.34%) to 1469.6900

      • A$-$: +0.00 or +0.23% to 0.6625

      • $-INR: +0.23 or +0.26% to 90.0655

      • $-CNY: (0.00) or (0.05%) to 7.0685

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