PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCK NEWS: Samsung Electronics (005930 KS) and SK Group plan to invest a combined KRW 2,000tln over the next 10 years, with Samsung's Jay Y Lee and SK Hynix Chairman Chey set to unveil invesments today

AUSTRALIA

Accent Group (AX1 AT) - Co. unanimously recommended shareholders reject Frasers Group's takeover offer, saying it offers no premium and materially undervalues the Co. while seeking greater control of Sports Direct Australia. (Dow Jones Newswires)

Champion Iron (CIA AT) - Co. entered a commercial agreement for part of its expected near-term direct reduction quality iron ore production from the DRPF project and continues discussions with prospective customers for remaining volumes. (Dow Jones Newswires)

HMC Capital (HMC AT) - Co. secured AUD 1.35bln of private credit institutional mandates from two global investors, increasing expected platform assets under management to AUD 3.3bln upon full deployment. (Dow Jones Newswires)

Karoon Energy (KAR AT) - Co. will commence a new share buyback next month, with purchases capped at 10% of issued share capital over 12 months. (Dow Jones Newswires)

Nine Entertainment (NEC AT) - Co. and Foxtel are nearing a multibillion-dollar deal to retain NRL broadcast rights until 2034. (SMH)

Ramelius Resources (RMS AT) - Co. agreed to sell the Edna May gold hub to Forrestania Resources in a AUD 300mln cash-and-shares deal, comprising AUD 200mln upfront cash and AUD 100mln in Forrestania shares held in escrow for 18 months. (Dow Jones Newswires)

Select Harvests (SHV AT) - Co. appointed Kristina Hermanson as Managing Director and CEO effective August 3, succeeding David Surveyor. (Dow Jones Newswires)

Other News - ASIC warned savers are at risk as major wealth platforms’ compliance regimes leave customers exposed to risky schemes and practices. (AFR)

Broker Ratings/Price Target

Insurance Australia Group (IAG AT) - Downgraded to Underperform from Neutral, price target cut 18% to AUD 7.00/shr by Macquarie.

JAPAN

Daikin Industries (6367 JP) - Co. will establish an R&D hub in India focused on large-scale air conditioning systems, including data centre cooling, to strengthen product development for emerging markets. (Nikkei)

Daiichi Life Holdings (8750 JP) - Co. will begin arranging leveraged buyout loans after becoming the first Japanese life insurer to receive regulatory approval to do so. (Nikkei)

Honda Motor (7267 JP) - Co. has begun producing batteries for AI data centres at its US battery plant following its shift away from EV-focused production. It was also reported that Co. CEO said a tie-up with Nissan is close to an announcement. (Nikkei)

Kawasaki Heavy Industries (7012 JP) - Co. will partner with Airbus to develop anti-submarine drones for Japan's defence ministry. (Nikkei)

Mitsubishi Heavy Industries (7011 JP) - Co. will invest more than USD 618mln to double large gas turbine production capacity in Japan and the US by FY30 amid rising AI-driven power demand. (Nikkei)

SoftBank Corp. (9434 JP) - Co. partnered with Thailand's Saha Group to provide AI-powered digital solutions for businesses. (Nikkei)

Takeda Pharmaceutical (4502 JP) - Co.'s new CEO Julie Kim said the Co. will expand its use of AI to improve efficiency and support innovation in biopharma. (Nikkei)

Other News

• Japan's major banks are exploring ways to secure additional US dollar funding to support investment commitments under the US-Japan tariff agreement. (Nikkei) 
• Japan will launch eight communications infrastructure projects across the Indo-Pacific, including undersea cables and satellite communications, to strengthen regional economic security. (Nikkei) 

SOUTH KOREA

Samsung Biologics (207940 KS) - Co.'s unionised workers voted to leave Samsung Group United Union, the labour coalition representing workers across Samsung affiliates. (Yonhap)

Samsung Electronics (005930 KS) - Co. and SK Group plan to invest a combined KRW 2,000tln over the next 10 years, with Samsung's Lee Jae-yong and SK Hynix Chairman Chey Tae-won set to unveil investment plans today, according to South Korea's Presidential Office and Korean media. (Newswires)