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 +0.68%, Hang Seng Closed, Shanghai Composite +0.10% as of 03:10 ET

Dec 26 ,2025

  • Synopsis:

    • Asia equities ended mostly higher Friday to complete another strong week for technology stocks. Japan, South Korea and Taiwan comfortably led the region as technology stocks surged again. Less prominent moves in mainland China as Shanghai advanced but Shenzhen dipped a few points. Southeast Asia and India quiet. Market holidays in Hong Kong, Australia and Indonesia. US futures near unchanged, Europe reopened with small gains but several markets still on holiday. US dollar unchanged at three-month lows, yen weaker and AUD notably stronger, won also stronger on BOK comments on forex stabilization, yuan hovering around 7.0 per dollar after briefly breaking through Thursday. Treasury yields mostly higher, JGB yields off recent highs. Crude flat, precious metals led by a strong surge in silver. Base metals quiet. Cryptocurrencies rallyied.

    • Asia equities rounded off a holiday-shortened week with more advances, led by technology stocks as optimism over AI surged once again. Strong gains for Tokyo Electron (~8035.JP~), SK Hynix (~000660.KS~) and Samsung Electronics (005930.KS~) among other AI-related stocks although the Kospi held back by declines in several big exporters as the won appreciated. Nevertheless, the Kospi, Taiex and Nikkei completing a strong week with notable gains.

    • In regional developments, BOJ Governor Ueda repeated rate hikes were likely to continue if growth and inflation outlooks were realized. The BOK 2026 monetary policy statement said decisions on further rate cuts will be weighed on data and financial stability conditions, adding that it will implement forex stabilization measures. The PBOC's Q4 monetary policy report reiterated it will maintain moderately loose policy, increase counter-cyclical and cross-cyclical adjustments. Tokyo core inflation moderated but remained higher than the BOJ's target. Japan November industrial production contracted by more than forecast, retail sales shrank sharply y/y, and the unemployment rate remained unchanged.

    • Samsung Electronics (005930.KS) said it has no plans to list its India business for now. Fujitsu (7203.JP) is set to join a Softbank (9984.JP) led group to develop next-generation memory for AI and supercomputers. Toyota Motor (7203.JP) posted a fall in November sales on a sharp drop in China sales. A Hanwha Ocean (042660.KS) executive said the company's Philadelphia yard can build the US a nuclear submarine as well as its new battleship design.

  • Digest:

    • Japan to reduce issuance of superlong bonds as government unveils record FY26 budget:

      • Japan Ministry of Finance announced FY26 bond issuance plan with total sales ¥8.9T lower than FY25 supplementary budget. Issuance changes concentrated in superlong sector with combined 20Y, 30Y and 40Y sales down ¥4T from FY25 supplementary budget. Ten-year issuance unchanged while planned 2Y and 5Y sales to rise by ¥2.4T. MoF said will review issuance plan with bond market participants around June. Japan's cabinet signed off on ¥122.1T ($785B) draft budget for FY26, up 6% on FY25 (Nikkei). Newly issued bonds to total ¥29.6T, up ¥900B from FY25 initial budget. Assumed financing rate climbs to 3% from the 2% assumed for FY25 budget, translating to record debt-servicing cost of ¥31.28T (up 11%). Of FY26 budget, record ¥9.04T set aside for defense, while spending on chips and AI will also see sharp increase (Bloomberg). JGB 30Y and 40Y yields stabilizing with FX strategists saying reduction in superlong bonds was larger than expected (Bloomberg). Selling pressure more evident at the front-end with policy sensitive 2Y yield rising to highest since 1996 following December BOJ rate hike (and expectations for more).

    • BOJ Governor Ueda says rate hikes will continue if baseline scenario realized:

      • In a Thursday speech, BOJ Governor Ueda reiterated Bank will continue to tighten policy if baseline scenario is realized, particularly given that real rates remain at significantly low levels. Said December's rate hike decision was informed primarily by reduced US trade uncertainties and limited spillover to Japan, and high likelihood of wage hikes continuing into next year. As a result, cycle of wage growth and inflation is increasing likelihood of underlying inflation reaching 2% in second half of projection period. Ueda said structural labor market changes expected to keep conditions tight, fueling upward pressure in wages and encouraging firms to pass on costs to selling prices. Going into next year's wage talks, Ueda highlighted how union bargaining shifting in more forward-looking manner based on assumption prices will rise 2% in the future, a development likely to strengthen robustness of mechanism in which wages and prices rise moderately. While lack of clear guidance from Ueda on future rate path following December MPM drove further selling in yen this week, Thursday's speech affirmed intention to continue policy normalization with markets eyeing mid-2026 move.

    • Tokyo core inflation eases, Japan industrial production shrinks:

      • Tokyo core inflation fell to 2.3% y/y in December from 2.8% in prior month, lower than consensus 2.5%. Overall inflation dropped to 2.0% from 2.7%. Largely reflected declines in volatile food and energy costs. Inflation eased to 2.6% from 2.3% when stripping out these two categories. Data considered unlikely to derail BOJ tightening stance with central bank increasingly of view underlying inflation will reach 2% target in second half of projection period. Separately, Japan industrial production shrunk 2.6% m/m in November, larger fall than 1.9% forecast and more than reversing prior month's 1.5% gain. Weakness driven by declines in output of autos, ICT and electronic equipment. However, firms more optimistic about near-term outlook with METI survey projections forecasting 1.3% rebound in December industrial production and 8% growth in January. November retail sales rose 1% y/y, roughly in-line with consensus 0.9% though slower than prior month's 1.7% increase.

    • BOK says further rate cuts hinge on inflation, growth and financial stability conditions:

      • BOK 2026 monetary policy statement said board will decide whether and when to make further rate cuts depending on inflation and growth developments and financial stability conditions. Inflation expected to remain around 2% target but subject to upside risks from exchange rate and domestic demand. Growth outlook also subject to significant upside and downside risks. Stressed continued vigilance needed on financial stability implications from house prices, household debt risks and FX volatility. Recall BOK left policy rate unchanged in November and dialed back its easing stance amid rise in inflation, improving economy and financial stability risks, strengthening economist views that rate cut cycle is at, or near, an end. On FX, BOK said will strengthen monitoring and implement stabilization measures to address excessive herd behavior, address structural imbalances in supply and demand, and enhance accessibility for foreign investors. Comes after South Korean financial authorities on Wednesday outlined series of FX market actions they said reflected government's strong determination to stabilize won. Intervention saw won strengthen most against dollar in six months, sending USDKRW to lowest level since early November.

    • Notable Gainers:

      • +7.2% 000408.CH (Zangge Mining): Zangge Mining provides FY26 production plan: to begin production of industrial salt

      • +5.3% 005930.KS (Samsung Electronics): Samsung Electronics has no plans to list India business for now - PTI

      • +1.2% 8473.JP (SBI Holdings): SBI Holdings looking to form closer capital relationships with regional banks - Nikkei

      • +0.8% 6702.JP (Fujitsu): Fujitsu partnering with SoftBank to develop next-gen AI memory chip that can rival current HBM - Nikkei

    • Notable Decliners:

      • -1.8% 600779.CH (Sichuan Swellfun): Sichuan Swellfun denies rumour on planned acquisition of the company

  • Data:

    • Economic:

      • Japan

        • November Unemployment Rate 2.6% versus 2.6% in prior month

        • December CPI Tokyo y/y +2% versus +2.7% in prior month

        • November Industrial Production m/m (preliminary) (2.6%) versus consensus (1%) and +1.5% in prior month

        • November Retail Sales y/y (6.2%) versus (5.5%) in prior month

        • November Retail Sales m/m +0.6% versus +1.6% in prior month

      • Singapore

        • November Manufacturing Production NSA Y/Y +14.3% versus +28.9% in prior month

    • Markets:

      • Nikkei: 342.60 or +0.68% to 50750.39

      • Hang Seng: 0.00 or 0.00% to 25818.93

      • Shanghai Composite: 4.06 or +0.10% to 3963.68

      • Shenzhen Composite: 8.11 or +0.32% to 2541.94

      • ASX200: 0.00 or 0.00% to 8762.70

      • KOSPI: 21.06 or +0.51% to 4129.68

      • SENSEX: (352.55) or (0.41%) to 85056.16

    • Currencies:

      • $-¥: +0.47 or +0.30% to 156.4100

      • $-KRW: (1.22) or (0.08%) to 1444.0100

      • A$-$: (0.00) or (0.08%) to 0.6700

      • $-INR: +0.01 or +0.02% to 89.7775

      • $-CNY: (0.01) or (0.09%) to 7.0086

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