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 (0.41%), Hang Seng +0.37%, Shanghai Composite +0.08% as of 03:10 ET

Jan 21 ,2026

  • Synopsis:

    • Asia stocks ended mostly lower again Wednesday although the losses have steadied. Japan's Nikkei and Topix ended in the red but well off their lows. Australia, Singapore and Taiwan all traded lower. Greater China markets were broadly positive, South Korea's Kospi also ended higher albeit still below its recent peak. India markets again under pressure although losses contained for now. US futures trading higher, Europe lower in opening trades. US dollar steady, little movement of note in Asia currencies. JGB yields down slightly after finmin comments; Treasury yield curve steepening. Crude oil contracts lower. Gold surged again to approach $5,000 per oz while silver is flat. Base metals mixed. Cryptocurrencies regaining some of Tuesday's losses.

    • Asia equities stabilized over the day albeit still with a negative tilt. Japan's JGB market also relatively quiet following yesterday afternoon's steep selloff in long-dated tenors after finance minister Katayama called for calm and said the government was weighing options to finance spending plans. Nevertheless, risk-off sentiment still dominant with traders waiting to see what Trump says next on Greenland during his WEF appearance. A rebound in several tech names in South Korea and another surge in Hyundai Motor (005380.KS) led the Kospi higher while Japan's banks underperformed but finished off their lows amid concerns over unrealized losses on their JGB holdings.

    • Elsewhere, South Korea's won supported by reports Seoul will likely delay commitment to a $20B investment package for the US on currency weakness; exports from the country for the first 20 days of January rose almost 15% amid a 70% increase in semiconductor shipments. India stocks underperforming again just as the rupee reached another record low on continued investor outflow, risk-off sentiment, and the lack of a trade deal with the US. Indonesia's rupiah also hovered at a record low as its central bank kept interest rates on hold but questions remained over the bank's independence following the nomination of the President's nephew for a senior post.

    • China Vanke (2202.HK) has won approval for a plan to extend payments of a yuan denominated bond, according to Bloomberg. Xiaomi (1810.HK) and Shenzhen Transsion (688036.CH) have cut smartphone shipment forecasts by tens of millions of units on the ongoing memory crunch, according to SCMP. Lynas Rare Earths (LYC.AU) Q4 revenue surged as lower production was more than offset by higher prices. Rio Tinto's (RIO.AU) Q4 iron ore and copper output beat estimates but the company warned iron ore was being stockpiled by China. Wipro's (507685.IN) CEO said he was seeing growing demand for Indian IT services from AI-related projects following a period of test deployment.

  • Digest:

    • From 'Takaichi trades' to the 'Sanae shock':

      • Major reverberations from Tuesday's plunge in superlong JGBs, logging an extremely rare 20 bp+ spike in 30y and 40y yields to blow past prior records. Primary catalyst was Prime Minister Takaichi's press conference Monday evening, officially declaring a lower house dissolution while also revealing a plan to scrap the consumption tax on food for two years without specifying funding (Nikkei). This dramatically escalated market concerns about fiscal discipline, drawing comparisons to the UK Truss shock in 2022. With the JGB market issuing a rare protest against government policy amid skepticism about whether the tax cut will expire within the stated timeframe, this event is being termed the 'Sanae shock.' Superlong volatility exposed a structural shift in the market, drawing attention to the growing influence of foreign investors in the absence of domestic institutional real money participation, pointing to a stark narrowing in investment time horizons conducive for volatility (Nikkei). JSDA data showed foreign investors account for more than half of all superlong buying last year as total Japan bond net purchases grew to JPY13.3T, marking the highest on record (comparable basis) going back to 2005. Article recalled the major void in demand left by BOJ purchase reductions and while life insurers had traditionally dominated the superlong sector, appetite has been suppressed by a preceding ramp in holdings to comply with changes in ALM matching regulations.

    • Trump tariff threat pits 'Sell America' against 'TACO/escalate-to-descalate' narratives:

      • Simultaneous selloff in US stocks, Treasuries and dollar invited more discussion about revival of 'sell America' trade that punctuated market activity during 'Liberation Day' aftermath in Apr-2025. Trump's threat to hike tariffs on Europe sparking concerns of tit-for-tat escalation with potential implications for transatlantic ties, while prompting more calls for Europe to reduce dependency on US. However, that view is being accompanied by dose of skepticism amid thoughts Trump's tariff salvo part of another 'escalate-to-deescalate' strategy. While Trump publicly not backing down on his demands, he voiced confidence about US and NATO coming to agreement on Greenland (Bloomberg). Treasury Secretary Bessent and USTR Greer additionally signaled room for negotiations (Politico). Meanwhile, market volatility may put 'TACO' narrative back into play, similar to Trump's backdown on 'Liberation Day' tariffs. November midterm elections viewed as additional factor that may sway Trump against risking collateral damage to US economy. Polymarket showing only 18% chance tariffs will go into effect on 1-Feb.

    • South Korea to delay US investment, Lee sees currency stabilizing:

      • Korean won stabilizing Wednesday after currency neared its lowest against dollar since just before financial authorities intervened in late December. Late Tuesday, Bloomberg sources said South Korea will delay committing to invest $20B in US this year under trade agreement with investment on pause until currency stabilizes. Comes after South Korea's finance minister Koo voiced doubts in Reuters interview last week about $20B investment proceeding this year. Authorities giving little indication further stabilization steps are being considered with President Lee conceding difficulty reversing currency's declines through domestic measures alone (Yonhap). Lee said financial authorities predict won will strengthen to 1400-per dollar in 1-2 months (from 1472 currently), attributing part of currency's recent weakness to yen selling. Koo had also ruled out further macroprudential actions to slow won's declines with authorities mindful of promoting market liberalization as they attempt to secure MSCI upgrade to developed market status.

    • Rupee drops to record low on risk aversion, capital exit:

      • India's rupee down again Wednesday to touch record low of 91.13 per dollar amid ongoing capital outflow, geopolitical tensions, absence of US trade deal and 50% tariff. Marks sixth consecutive day of declines while it, and Indonesia's rupiah, are only Asia currencies to fall this week amid a 0.8% fall in US dollar DXY index. Risk assets continuing to decline globally on Trump's tariff threats over Greenland, exacerbated by selloff in JGBs (Bloomberg). YTD, overseas investors pulled almost $3.0B from India equity markets following $19B in FY25. Reuters cited analyst saying RBI appears ready to tolerate weaker currency so long as move is flow-led from trade or investor movements; speculative pressure could trigger stronger response than ongoing forex intervention. Risk-off sentiment pressing on domestic equities and IGBs with Nifty and Sensex down most in eight months Tuesday, lower again Wednesday; IGB yields touched 10-month high late Tuesday.

    • Bank Indonesia keeps base rate on hold as independence questions linger:

      • Bank Indonesia kept its benchmark interest rate on hold at 4.75% Wednesday, as widely expected by economists although some had begun questioning whether it would trim as bank switched to supporting economy over stabilizing rupiah. Deposit facility also held at 4.5%, lending facility at 6.0%. Bank also held steady its growth rate forecast for FY25 at 4.7-5.5% and for 4.9-5.7% in FY26. Decision comes in line with BI's stated aim of steadying rupiah but also amid growing investor concern over BI's independence following nomination of President Prabowo's nephew to senior bank post. This added to unexpected rate cut last year in face of public disorder, agreement to share debt costs of Prabowo's priority fiscal spending projects. Widening fiscal deficit also worrying investors as budget deficit forecast to balloon beyond legal 3.0% limit this year. Despite hold, rupiah continued to hover near 17K per US dollar late Wednesday.

    • Notable Gainers:

      • +37.5% 751.HK (Skyworth Group): to spin off and list Skyworth Photovoltaic on HKEX; launches HK$2.56B take-private bid at HK$4.03/share

      • +14.8% 1070.HK (TCL Electronics Holdings): Sony to sell 51% stake in home entertainment business to TCL Electronics

      • +7.1% 975.HK (Mongolian Mining): reports Q4 ROM coal mining output 3,963.6kt, +10% q/q

      • +5.7% 2202.HK (China Vanke): bondholders reject resolutions on adjustment of arrangement for repayment of principal and interest of redeemed portion of '21 Vanke 02' bonds; bondholders approve arrangement of additional fixed repayment and provision of credit enhancement measure

      • +4.3% 522.HK (ASMPT): to evaluate strategic options for SMT Solutions Segment

      • +0.8% 000720.KS (HYUNDAI ENGINEERING & CONSTRUCTION CO.): guides EBIT KRW650.0B vs prior guidance KRW1.183T and FactSet KRW641.81B

    • Notable Decliners:

      • -4.2% 2020.HK (ANTA Sports Products): provides Q4 operational update; ANTA sees low-single digit negative growth y/y

      • -4.0% 348370.KS (Enchem): launches KRW10.50B convertible note due Jan-29

      • -2.9% 096770.KS (SK Innovation): sells partial stake in TerraPower to Korea Hydro & Nuclear Power

      • -0.9% 6758.JP (Sony): to sell 51% stake in home entertainment business to TCL Electronics

      • -0.9% 7211.JP (Mitsubishi Motors): president Takao Kato reportedly to become chairman/CEO

      • -0.8% 004020.KS (Hyundai Steel): reportedly begins aggressive restructuring, effectively halving its rebar production capacity

  • Data:

    • Economic:

      • No economic data today

    • Markets:

      • Nikkei: (216.46) or (0.41%) to 52774.64

      • Hang Seng: 97.55 or +0.37% to 26585.06

      • Shanghai Composite: 3.29 or +0.08% to 4116.94

      • Shenzhen Composite: 17.10 or +0.64% to 2694.89

      • ASX200: (33.00) or (0.37%) to 8782.90

      • KOSPI: 24.18 or +0.49% to 4909.93

      • SENSEX: (49.82) or (0.06%) to 82130.65

    • Currencies:

      • $-¥: (0.24) or (0.15%) to 157.9160

      • $-KRW: (11.94) or (0.81%) to 1468.9190

      • A$-$: +0.00 or +0.22% to 0.6747

      • $-INR: +0.59 or +0.65% to 91.7051

      • $-CNY: +0.00 or +0.03% to 6.9630

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