PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCK NEWS: SK Hynix (000660 KS) announced plans to build five 1GW AI data centres across South Korea

AUSTRALIA

Credit Corp Group (CCP AT) - Co. dropped its AUD 385mln takeover offer for Humm Group, citing discomfort with issues affecting the Co. after a Takeovers Panel rebuke and activist investor campaign. (The Australian)

Iluka Resources (ILU AT) - Co. said Export Finance Australia confirmed access to its full non-recourse loan, with Civmec awarded an SMPEI works contract to complete Eneabba construction, tranche 1 funding expected to be fully drawn by end-2026, the refinery expected to be 75% complete by end-2026 and commissioning scheduled for mid-2027. (Dow Jones Newswires)

Lynas Rare Earths (LYC AT) - Co. said its Malaysia plant EIA has undergone a technical review and it will submit an updated EIA as requested by Malaysia’s Environment Department. (Dow Jones Newswires)

Reliance Worldwide (RWC AT) - Co. intends to close brass casting, forging and machining operations in Moorabbin and Braeside, alongside some additional smaller sites, as part of an ongoing optimisation of manufacturing operations, with a one-off net charge of USD 100mln-110mln expected in FY26 and a net annual EBITDA benefit of around USD 9mln expected by end-FY27. (Dow Jones Newswires)

Transurban Group (TCL AT) - Co. and the NSW State Government agreed to a new unpaid toll framework that will replace toll notices and administration fees with digital notifications, simplify the motorist experience and protect a AUD 36bln investment by the Co. and partners in Sydney’s road network. (Dow Jones Newswires)

WiseTech Global (WTC AT) - Co. said it is not aware of any investigation into executive chair Richard White, that media reports relate to White in a personal capacity, and that there is no suggestion of an investigation into the Co. (Dow Jones Newswires)

Broker Ratings/Price Target

• Centuria Capital (CNI AT) Downgraded to Underperform from Outperform, price target raised 6% to AUD 1.88/shr by Macquarie.
• Lynas Rare Earths (LYC AT) Upgraded to Outperform from Neutral, price target raised 10% to AUD 22.00/shr by Macquarie.
• Metcash (MTS AT) Price target cut 2.9% to AUD 3.40/shr by UBS, price target raised 7% to AUD 3.20/shr by Macquarie.

JAPAN

Ajinomoto (2802 JT) - Co. proposed to acquire the remaining 49.62% stake in Ajinomoto Berhad for approximately MYR 600mln. (Newswires)

Kanadevia (7004 JT) - Co. will tap European demand with an Italy biogas plant as high oil prices and the Ukraine war spur interest in energy self-sufficiency. (Nikkei)

Nippon Steel (5401 JT) - United Steelworkers official Bernie Hall said the union will ensure the Co. follows through on investments tied to its US Steel deal, while he is cautiously optimistic about the deal with the Japanese steelmaker. (Nikkei)

Tokyo Electric Power Co Holdings (9501 JT) - Co. and Chubu Electric Power (9502 JT) JV JERA will build a large-scale gas-fired power plant in the US, according to Nikkei. (Newswires)

Rare Earths - Japan and France cooperation is extending to rare earths as the countries seek non-China sources. (Nikkei)

Tech - Japan seeks AI alliances with France and India to curb US-China dominance, while Tokyo also agreed to discussion frameworks with Brazil, Malaysia and the UK. (Nikkei)

Other News

Japan is looking to push 40% of household assets into investments, up from 23%, as Tokyo eyes relaxed financial regulations and public-private talks on AI. (Nikkei)

Japanese Finance Minister Katayama held an online meeting with US Treasury Secretary Scott Bessent focused on policy responses to the historically weak yen, potentially including currency intervention. (Newswires)

SOUTH KOREA

GS Engineering & Construction (006360 KS) - Co. will partner with US-based infrastructure investment firm I Squared Capital to develop renewable energy and battery energy storage systems in South Korea. (Yonhap)

Kakao Corp. (035720 KS) - Co.’s Kakao Map mobile map service gained attention online after several locations in North Korea were found to have been displayed in detail on the service. (Yonhap)

SK Hynix (000660 KS) - Co. announced plans to build five 1GW AI data centres across South Korea. (Maeil)