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 (1.12%), Hang Seng (1.10%), Kospi +2.31% as of 03:10 ET

Feb 20 ,2026

  • Synopsis:

    • Asia equities ended mixed Friday. Japan's two main benchmarks finished down but off their troughs. Hang Seng reopened with a sharp fall with a rotation out of 'traditional internet' names and into AI pure plays evident. Australia and Singapore ended flat. More strong gains for the Kospi. India ending a three-day down streak but still heading for a weekly loss. Taiwan and mainland China remain closed for a holiday. US futures higher, Europe opened with gains. Dollar steady, NZD and AUD under further pressure, yen marginally weaker, rupee steady amid reports of RBI intervention again early on. Treasury yield curve steepening, JGB yields lower across tenors again. Precious metals higher, crude oil higher and base metals mixed. Cryptocurrencies slightly higher.

    • Asia equities closing a holiday-impacted week mixed as geopolitical concerns begin to build and mainland China remained closed to cap volumes. Still, the MSCI Asia Pac ex Japan index will end with a w/w gain and within a point or two of a fresh record high with advances in South Korea pillaring gains as the Hang Seng saw a modest decline. Friday, Geopolitical tensions over Iran starting to seep into investors' mind with a tick higher in save-haven assets and crude oil prices, while defense stocks outperformed with Hanwha Aerospace (012450.KS) and SK Innovation (096770.KS) notable gainers, all despite most observers still seeing the buildup of US forces acting as a negotiating tactic.

    • In regional developments Friday, Japan core CPI was steady at 2.0% while headline inflation fell to its lowest in nearly four years. Flash February PMIs showed Japan's manufacturing activity expanded at its fastest since May-23; India's PMI also resumed its acceleration albeit with an uptick in inflation; Australia PMI lost a little momentum but remained in expansion. Malaysia's January exports grew 19.6% y/y in January on shipments of electronic goods including chips. Indonesia signed a trade deal with the US that reduces general tariffs to 19% and sees exceptions for palm oil. Seoul house prices and national household debt also rose as BOK prepares to meet to decide interest rates next week.

    • ITOCHU (8001.JP) has increased its stake in Hitachi Construction Machinery (6305.JP) to 33.4% from previous 20.4%. Nippon Steel (5401.JP) could sell an additional ¥300B worth of strategic shareholdings, according to a Nikkei report; company said China-driven supply glut could be nearing an end. Sony Group (6758.JP) is shutting down its Bluepoint Games, the PlayStation subsidiary responsible for developing the remakes of video games. Guzman & Gomez (GYG.AU) posted higher-than-expected H1 profits but warned of sluggish sales in a 'challenging' US consumer environment; shares down sharply.

  • Digest:

    • Hong Kong tech majors lag following holiday, AI startups surge:

      • Hang Seng resumed trade following LNY holiday with major tech platforms under some pressure. Several companies released updated AI models ahead of holidays and the big names touted usage metrics over the week (SCMP). Tencent (700.HK) said DAUs and MAUs on Yuanbao AI app topped 50M and 114M respectively. Alibaba (9988.HK) noted over 130M user experiences of its AI-powered shopping feature through Qwen. Numbers seemingly failed to impress with analysts flagging concerns about post-holiday retention rates. Companies had also invited scrutiny over costly promotional campaigns that invited regulatory warnings to curb involution-type competition. Tencent down 14% month-to-date to lowest since Jul-2025 with its CNY1B 'red packet' campaign to entice new users fueling concerns about impact on profits and margins (Bloomberg). AI startups faring better with Zhipu (2513.HK) and MiniMax (100.HK) extending month-to-date gains to 174% and 99% respectively. AI model updates have fueled hype surrounding the companies and have led to positive sell-side initiations (Bloomberg).

    • Trump administration ponders timing and length of military strikes against Iran:

      • Washington Post sources said Trump administration preparing for an extended military campaign against Iran, just waiting on arrival of USS Gerald R. Ford and accompanying warships as US amasses largest deployment to Middle East since 2003 Iraq war (Bloomberg). Timing of any strike remains fluid with Trump indicating Iran had ten days to reach nuclear deal (Reuters) while his advisers were told US forces deployed to region will be in place by mid-March. Earlier CNN report noted US military prepared to strike Iran as soon as this weekend. Other media sources said Trump considering limiting initial attack to few military or government sites in bid to pressure Iran into an agreement, before widening campaign if Tehran refuses. While diplomatic door has been left ajar, US officials skeptical about prospects of reaching a satisfactory agreement with Iran so far refusing US demands to give up uranium enrichment. Iran Supreme Leader Khamanei has also been posting series of defiant messages on X. Crude up 6% week-to-date to highest since Aug-2025, as market continues to fret about Strait of Hormuz disruptions and possible Iranian retaliation against Middle East oil facilities.

    • Japan nationwide CPI distorted by policy-induced energy volatility:

      • Nationwide core CPI rose 2.0% y/y in January, matching expectations. Follows 2.4% in the previous month and marks the softest since Jan-24. Ex-fresh food & energy inflation was 2.6% vs consensus 2.7% and also moderating from 2.9% in December. Energy drags increased by 0.17 ppt to 0.42 ppt driven almost entirely by gasoline. Some of this reflected unfavorable base effects though also fell notably on a sequential basis for the second straight month after the special surcharge was scrapped as part of cost-of-living relief measures. Electricity and gas remained a slight drag as y/y comparisons were suppressed by base effects caused by prior rounds of government subsidies. Next round due to take effect from the January billing period in February and run through April. Other notable factors were also negative, led by ongoing deceleration in non-fresh food. Rice prices have slowed every month since more than doubling at its height in May last year though remains elevated at 27.9%. Processed food products also well off their peak of 10% increases in mid-2023 while still notably above the headline amid ongoing price hikes. BOJ has long predicted core CPI inflation will fall below 2% in H1 of FY26 due to policy measures and waning momentum in food prices before recovering to a level consistent with the price stability target in the second half of the projection period (any time from H2). Yet BOJ has emphasized underlying trend inflation as the key gauge, which board members have acknowledged is approaching the 2% threshold.

    • RBNZ Governor Breman warns prematurely tightening policy risks choking off recovery:

      • In a speech, RBNZ Governor Breman warned increasing official cash rate (OCR) now would not bring down inflation immediately due to 6-9 quarter lag but would instead hamper New Zealand's economic recovery and risk inflation undershooting target. Said policy will remain guided by new information and is not on preset course. While recovery is expected to broaden out, it is likely to be uneven with household consumption growth subdued. She reiterated board's expectation for inflation to return to 2% target midpoint over next 12 months, adding it needs to assess whether some of the recent increase is a sign of broader pricing pressures or just a temporary influence. For example, she highlighted role of strong growth in administered prices in keeping non-tradeables inflation sticky, noting underlying inflation is not as high as headline CPI suggests. She concluded that economy has room to recover while inflation returns to 2% though risks to inflation outlook are balanced. Breman's remarks put more downward pressure on policy-sensitive 2Y yield after markets pared odds of a rate hike by October to ~66% from 90% before Wednesday's 'dovish' hold.

    • Japan FY earnings projections turn positive, back on track to extend records:

      • Nikkei top story aggregated FY guidance among some 1,000 TSE Prime Market constituents with a March FY-end (supplemented by consensus forecasts) and found net profit projections now pointing to 1% growth, revised from a 2% decline, to record levels for the fifth straight year -- the longest streak since the 2008 financial crisis. AI demand combining with capital efficiency enhancements through measures such as divestment of non-core businesses as key drivers. Positive dynamics extending to shareholder payouts and wage hikes. Latest earnings season saw about a quarter of companies upgrading guidance. Gross margins seen edging up 0.1 ppt to a record 6.3%. Based on a smaller subset of some 600 names for which ROE consensus is available, more than 60% are set to surpass the 8% milestone urged by TSE as a KPI for enhanced corporate governance. With stock prices of many companies tracking at record highs, proportion of some 1,000 TSE Prime Market firms with a price-book ratio below 1 has shrunk 22 ppt from Jan-23 to 37% as of Jan-26. Outlook remains promising as fading US tariff overhang on automakers and rising rates fueling banking sector could take EPS growth into double digits. While ROE still lagging western peers above 10%, and some of the strength in Japan inflated by yen weakness, massive cash reserves present a resource for more growth investments and shareholder payouts.

    • Notable Gainers:

      • +10.9% 005850.KS (SL Corp): reports FY results; operating profit KRW407.10B vs FactSet KRW354.90B

      • +8.4% 034220.KS (LG Display): analyst notes Q1 operating profit expected to beat consensus by 54%

      • +8.1% 012450.KS (HANWHA AEROSPACE): Trump administration reportedly ponders timing and length of military strikes against Iran

      • +7.6% 096770.KS (SK Innovation): Trump administration reportedly ponders timing and length of military strikes against Iran

      • +4.7% 9880.HK (UBTECH Robotics): reportedly on humanoid robot performances at Chinese Spring Festival Gala

    • Notable Decliners:

      • -5.6% 2005.HK (SSY Group): guides 45-60% decline in FY net income attributable

      • -3.3% 8001.JP (ITOCHU): increases stake in Hitachi Construction Machinery to 33.4% from 20.4%

      • -2.1% 8103.JP (Meiwa Corp): Mitsubishi to sell 4.2M Meiwa shares via secondary offering

      • -2.0% 5401.JP (NIPPON STEEL): reportedly could sell additional ¥300B worth of strategic shareholdings

  • Data:

    • Economic:

      • Japan

        • January nationwide core CPI +2.0% y/y vs consensus +2.0% and +2.4% in prior month

          • CPI excl. fresh food & energy +2.6% y/y vs consensus +2.7% and +2.9% in prior month

          • Overall CPI +1.5% y/y vs consensus +1.6% and +2.1% in prior month

        • February flash manufacturing PMI 52.8 vs 51.5 in prior month

          • Services PMI 53.8 vs 53.7 in prior month

          • Composite PMI 53.8 vs 53.1 in prior month

    • Markets:

      • Nikkei: (642.13) or (1.12%) to 56825.70

      • Hang Seng: (292.59) or (1.10%) to 26413.35

      • Shanghai Composite: Closed

      • Shenzhen Composite: Closed

      • ASX200: (4.80) or (0.05%) to 9081.40

      • KOSPI: 131.28 or +2.31% to 5808.53

      • SENSEX: 239.63 or +0.29% to 82737.77

    • Currencies:

      • $-¥: +0.47 or +0.30% to 155.4550

      • $-KRW: (1.50) or (0.10%) to 1447.9800

      • A$-$: (0.00) or (0.28%) to 0.7039

      • $-INR: (0.07) or (0.08%) to 90.9665

      • $-CNY: (0.00) or (0.01%) to 6.9078

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