PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCK NEWS: SK Hynix US ADR over 7x oversubscribed, BHP workers to go on strike, Daiichi nearing deal to offer Enhertu in the UK

Australia

BHP Group (BHP AT) - Co. workers look set to strike at Port Hedland next week after talks with unions over pay and conditions failed to reach a result. (The Australian)

KPMG, Deloitte, EY, PwC - Australia's corporate regulator says it has begun reviewing audit conduct complaints received by the Big Four accounting firms after recent allegations of auditor misconduct at KPMG. (Reuters)

Woodside Energy (WDS AT) - Co. has intensified its legal pursuit of climate activists for financial loss and damage after stench gas forced the evacuation of its Perth headquarters in June 2023. (AFR) 

Other News:

• The IMF downgraded its growth forecast for Australia to 1.9% from 2.0%

Japan

Daiichi Sankyo (4568 JT) - The UK’s pricing regulator is reportedly nearing an agreement with the Co. and AstraZeneca (AZN LN) to offer some women Enhertu, Bloomberg reports. (Bloomberg)

Itochu (8001 JT), Daikin Industries (6367 JT) - Cos will jointly launch a business to recover aluminium from used commercial air conditioners. (Nikkei Asia)

JCB, Resona Holdings (8308 JT) - Cos are developing a hands-free payment system for buses in Japan, with tests planned as soon as this Autumn. (Nikkei Asia)

Kioxia (285A JT) - Bain Capital exec. says they have exited Kioxia. (Bloomberg TV)

Mitsubishi Motors (7211 JT) - Co. plans to revive the Pajero off-road SUV by opening boutique showrooms in Japan, targeting affluent urban customers. (Nikkei Asia)

Other News:

• Moody’s says the prospect of trillions of dollars of government spending has yet to change Japan’s credit views, stating the current rating of A1 is pretty stable.

South Korea

Hanwha Aerospace (012450 KS), Korea Aerospace Industries (047810 KS) - Hanwha says they have increased its equity in KAI to 12.44%. (ChosunBiz)

Kia (000270 KS) - Co. appoints Executive Vice President Song Min-su as its new CEO, effective immediately. (ChosunBiz)

SK Hynix (000660 KS) - Co.’s US ADR is reportedly more than 7x oversubscribed, Bloomberg reports. (Bloomberg)

Other News:

• Korea Securities Depository has launched a review of the system to lower the threshold for overseas stock investors to exercise their voting rights, SE Daily reports
• IMF raises its growth forecast for South Korea to 2.6% from 1.9%, due to strong global demand for memory chips.