PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Japan and South Korea agreed to release some oil reserves alongside IEA partners
JAPAN
Kyocera Corp. (6971 JT) - Co. announced the development of a pluggable optoelectronic module supporting the PCIe 6.0 standard as part of its OPTINITY module series for data centres. (Newswires)
Mitsubishi UFJ Financial Group (8306 JT) - MUFG Bank and State Bank of India signed a strategic partnership agreement to collaborate on structuring and financing projects including M&A, aviation and real estate finance. (Newswires)
Mitsui O.S.K. Lines (9104 JT) - A container ship owned by the Co. was reportedly damaged near the Strait of Hormuz. (Nikkei)
Nidec Corp. (6594 JT) - Oasis Management, a Hong Kong-based activist investor, has acquired a 6.7% stake in the Co. (Nikkei)
Nomura Holdings (8604 JT) - Nomura Asset Management is reportedly shifting administrative work for investment trusts and other investments to India to support the global move toward next-day settlement. (Nikkei)
SoftBank Group (9984 JT) - PayPay has reportedly raised USD 880mln in its IPO, according to sources. (Newswires)
Energy - Japanese PM Takaichi said Japan will begin releasing oil reserves as early as March 16, including 15 days’ worth of private-sector reserves and one month of state reserves. (Newswires)
SOUTH KOREA
Hanmi Science (008930 KS) - Co. is reportedly moving to replace CEO of Hanmi Pharmaceutical with outsider Hwang Sang-yeon poised to lead the firm. (ChosunBiz)
Hanwha Aerospace (012450 KS) - Hanwha Group said it will showcase its integrated air and missile defence capabilities at a major European defence exhibition. (Yonhap)
Technology – South Koren Chipmakers are reportedly intensifying competition for talent as South Korean firms, Taiwan Semiconductor Manufacturing Co. and US tech companies ramp up hiring. (ChosunBiz)
Energy – South Korea will release 22.46mln barrels from its oil reserves under the IEA coordinated release plan. (Yonhap)
The joint decision by Japan and South Korea to release oil reserves, coordinated with IEA partners, signals a proactive stance in addressing energy security amid supply concerns. This move could alleviate some market pressures on crude oil prices, impacting energy stocks and currencies linked to commodity performance while reflecting a broader geopolitical strategy to enhance energy collaboration in the region.