PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCK NEWS: Samsung Group is said to invest around USD 647bln over the next 10 years in South Korea, while Samsung Electronics may invest KRW 300bln in new semiconductor fabs

AUSTRALIA

BHP Group (BHP AT) - Co. announced executive responsibility changes effective Sept. 1, with Rag Udd assuming responsibility for strengthening contractor safety, Geraldine Slattery remaining President Australia while also assuming responsibility for Copper South Australia. (Dow Jones Newswires)

Ioneer (INR AT) - Co. received a conditional award from the US Army for a long-term land lease at the Tooele Army Depot for a critical mineral processing facility. (Dow Jones Newswires)

NRW Holdings (NWH AT) - Co. signed a three-year AUD 150mln equipment hire and services agreement with OneSteel Manufacturing at the South Middleback Ranges mine, while its Golding subsidiary was awarded a AUD 41mln-45mln rail construction contract by Anglo American due for completion in March 2027. (Dow Jones Newswires)

Stockland (SGP AT) - Co.’s land lease portfolio will see Mitsubishi exit and Mercer enter. (AFR)

Transurban Group (TCL AT) - Co. entered a development framework agreement with the Virginia Department of Transportation to assess enhancements to the I-95 Express Lanes, which would add about 120 new lane miles, increase capacity by about 140%, and is expected to reach financial close in 2029 if approved. (Dow Jones Newswires)

Worley (WOR AT) - Co. faces an investor trust crisis after a fresh profit warning. (AFR)

Supermarkets - ACCC will begin monitoring supermarket pricing from July 1, with initial focus on Coles (COL AT) and Woolworths (WOW AT) pricing information to ensure they comply with obligations. (Newswires)

Broker Ratings/Price Target

Worley (WOR AT) Cut to price target by 7.6% to AUD 10.61/shr by Jefferies, price target cut by 12% to AUD 12.00/shr by Macquarie.

JAPAN

JFE Holdings (5411 JT) - Co. is eyeing US joint ventures and growth in India as it sees opportunities in high-grade steel and value-added products. (Nikkei)

Kioxia Holdings (285A JT) - Co. plans to issue American Depositary Receipts on the New York Stock Exchange next spring as memory chipmakers tap US capital markets amid rising AI-related demand. (Newswires)

Nissan Motor (7201 JT) - Co. and Stellantis are in talks to buy assets from Marelli, Bloomberg reported. (Newswires)

Seven & i Holdings (3382 JT) - Co.’s 7-Eleven plans to close several Canadian stores as part of a North American reduction plan. (Newswires)

Toyota Motor (7203 JT) - Co.’s vehicle subscription arm Kinto posted a sharp gain in FY earnings as profit doubled, supported by demand from young drivers and used car sales. (Nikkei)

Other News

Japan banks are hesitating to buy JGBs as the BoJ steps back, with holdings at around 40% of their peak as rising rates depress purchases. (Nikkei)

SOUTH KOREA

Korean Air Lines (003490 KS) - Co. received South Korea Transport Ministry approval for its merger plan with Asiana Airlines (020560 KS). (Newswires)

Samsung Electronics (005930 KS) - Samsung Group is said to invest around USD 647bln over the next 10 years in South Korea and the Co. may invest KRW 300bln in new semiconductor fabs, while Chairman Lee Jae-yong met South Korean President Lee Jae Myung to discuss regional semiconductor investment plans, including a possible chip cluster in the southwestern Honam region. (Newswires/Yonhap)

SK Hynix (000660 KS) - SK Telecom (017670 KS) will invest KRW 738.38bln in the Co.’s US AI venture via a share purchase and acquire a 0.9% stake in SK Hynix NAND Product Solutions by 2030 to create AI business synergies across SK Group. (Dow Jones Newswires)

Energy/Utilities - South Korea's government will lower the cap on fuel prices and freeze utility rates in H2. (Yonhap)