PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Poll shows Japan’s LDP party is likely to win a landslide victory
The news that Japan's LDP party is likely to achieve a landslide victory is significant as it suggests political stability, which could bolster investor confidence in Japanese markets.
[MARKET UPDATE] Asia-Pac stocks begin mostly lower amid several bearish themes including partial US government shutdown, weak Chinese PMIs, NVIDIA halting USD 100bln OpenAI investment plan, although Japan bucks the trend on the Takaichi trade
Australian MI Inflation Gauge YY (Jan) 3.6% (Prev. 3.5%)
PRE-MARKET JAPANESE AND SOUTH KOREAN STOCKS NEWS: Poll shows Japan’s LDP party is likely to win a landslide victory
BoJ's Summary of opinions noted that one member said financial conditions remain accommodative even after a rate hike in December
[MARKET UPDATE] Risk-off mood at the reopen of futures trading after last Friday's metals price collapse and with the US government in a partial shutdown, while data also showed that Chinese official PMIs slipped into contraction territory
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JAPAN
Nomura (8604 JT) - Co. Q3 (JPY) fell 9.7% Y/Y to JP 91.6bln (exp. 95.1bln), Co. announced a JPY 60bln buyback. (Newswires)
Takeda (4502 JT) - Co. 9-month (JPY) net rose 2.4% Y/Y to 216.1bln, rev. fell 3.3% Y/Y to 3.4tln. (Newswires)
Toyota (7203 JT) - Co. is to recall more than 161k US vehicles due to the rear-view camera display. (Newswires)
Consumer/Beauty - Bain Capital is to acquire Tsubaki shampoo maker FineToday Holdings in a deal estimated at JPY 200bln. (Nikkei)
Other News
Japanese PM Takaichi said in a speech on Saturday that the yen’s recent depreciation boosted exporters and returns from the government’s foreign exchange fund, while she failed to address concerns regarding the effect on consumer prices. However, she attempted to clarify on Sunday that she was referring solely to the need to build an economic structure that can withstand currency fluctuations, and not to stress the advantages of a weaker currency. (Newswires)
Japan’s LDP party is likely to win a landslide victory and exceed a majority of 233 seats, while the ruling bloc (LDP + Ishin) may win more than 300 seats in the 465-seat parliamentary snap election on February 8th, according to a survey. (Asahi)
Japan and the UK agreed to deepen defence and security cooperation. (Newswires)
SOUTH KOREA
CJ CheilJedang (097950 KS) - Co. launches Matkong soybean snacks as Korea's wellness trend grows. (ChosunBiz)
Other News
Fitch maintained South Korea’s rating at AA-, Outlook Stable. (Yonhap)
A strong ruling party may lead to more consistent economic policies, benefiting exporters and possibly impacting the JPY positively in the long term. Additionally, the context of increased defense cooperation with the UK may further enhance Japan's geopolitical standing and security, affecting market sentiment and asset flows in the region.
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