PRE-MARKET AUSTRALIA, JAPANESE AND SOUTH KOREAN STOCK NEWS: Westpac Banking (WBC AS) – Co. expects FY 18 cash earnings to be reduced by around AUD 235mln

AUSTRALIA

Australasian Resources (ARH AS) – Co. to conduct review of its major asset, Balmoral South as the board intends to re-capitalise. (Newswires)

Westpac Banking (WBC AS) – Co. expects FY 18 cash earnings to be reduced by around AUD 235mln. Separately, the Co. is to exit Ascalon Capital Managers. (Newswires)

Navitas (NVT AS) – Co. signs a pathway college agreement with Hague University of Applied Sciences. (Newswires)

Vicinity (VCX AS)) – Street Talks note Co’s sale of USD 1bln portfolio is moving faster than expected. (Newswires)

Bionomics (BNO AS) – Co. halted awaiting results on Phase 2 study. (Newswires)

CIMIC (CIM AS) – CPB Contractors unit has been awarded a AUD 1bln project in relation to metro tunnel works. (Newswires)

ANZ (ANZ AS) – The bank said it will consider compensating customers hit by an upgrade problem in its shared trading platform. (SMH)

COMMODITIES

Brent prices are +0.4%, albeit below the USD 82/bbl level while WTI prices are little changed.

OTHER NEWS

The Australian Prudential Regulations Authority orders the country’s biggest financial institutes and fund to conduct a culture and governance review. (The Australian)

JAPAN

Tokyo Electric Power (9501 JT) – CFO says the Co. is to cut debt by JPY 200bln by the end of FY 2018. (Newswires)

Japan Post Holdings (6178 JT) – Co. plans to establish a logistics company with Toll HD in Japan. (Newswires)

NTT DoCoMo (9437 JT) – SMFG are said to reacquire its credit card unit from the Co. (Nikkei)

OTHER NEWS

– Japanese PM Abe is reportedly replacing Minister of Internal Affairs Noda. (Newswires)

– Japanese government is to allow public universities to own stakes in tech start-ups that launch from their own campuses. (Nikkei)

SOUTH KOREA

DATA

– South Korea Consumer Confidence (Sep) 102 (Prev. 99)

OTHER STORIES

– South Korean Foreign Minister vows to continue the enforcement of sanctions on North Korea. (Yonhap)

– South Korea proposed a joint fishing zone with North Korea. (Yonhap)

(Newswires)