PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Mitsubishi Electric (6503 JT), Rohm (6963 JT) and Toshiba, will begin negotiations to merge their power semiconductor businesses

JAPAN

All Nippon Airways (9202 JT) - Co. is among Japanese firms turning to bond-type shares, which offer similar benefits to common stock without diluting shareholdings. (Nikkei)

Japan Display (6740 JT) – Co. is said to be in talks with Micron Technology (MU) over the sale of its LCD panel plant in Japan. (Nikkei)

Mizuho Financial Group (8411 JT) - Co., via its subsidiary Asset Management One, has partnered with Sparx Asset Management to develop investment trusts targeting Indian equities, focusing on small- and mid-cap opportunities. (Nikkei)

Mitsubishi Electric (6503 JT) - Co., alongside Rohm (6963 JT) and Toshiba (6502 JT), will begin negotiations to merge their power semiconductor businesses. (Nikkei)

Energy - Japan’s government will temporarily lift restrictions on coal-fired power plant operations to reduce the risk of an energy shortage amid Middle East supply disruptions via the Strait of Hormuz. (Nikkei)

SOUTH KOREA

Korea Aerospace Industries (047810 KS) - Co. is advancing KF-21 export efforts and is nearing a deal with Indonesia, while there is increased interest from the Middle East and Southeast Asia as production capacity expands. (ChosunBiz)

Sanil Electric (062040 KS) - Co. is expected to be re-rated as a data centre beneficiary through transformer orders linked to data centre demand, according to SK Securities. (ChosunBiz)

SK Hynix (000660 KS) - Co. recorded an impairment on Gauss Labs. (ChosunBiz)

Energy - South Korea to expand temporary fuel tax cuts to 15% on gasoline (prev. 7%) and 25% on diesel (prev. 10%) to ease cost pressures amid the prolonged Middle East conflict. (Yonhap)

Other News

South Korea is to conduct a KRW 5tln emergency sovereign bond buyback to stabilise markets and curb rising yields amid volatility linked to the Middle East conflict. (Nikkei)