PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCK NEWS: Toshiba (6502 JT) chip unit sale to Bain consortium gets China antitrust regulatory approval

AUSTRALIA

ANZ (ANZ AT)
– Co. offloads its majority stake in Cambodian JV as it further reduces its regional exposure. (The Australian)

CSL (CSL AT)
– Co. guides FY18 net at between AUD 1.68bln-1.71bln. (Newswires)

Macquarie (MQG AT)
– Co. reportedly has cut dozens of its advisers as it seeks to merge its private bank and wealth units. (The Australian)

Myer (MYR AT)
– Oaktree Capital is speculated to be interested in acquiring the Co. (The Australian)

Rio Tinto (RIO AT)
– Co. affirms FY18 guidance on Pilbara iron ore shipments at 330mln-340mln tons. (Newswires)

Santos (STO AT)
– Co. board is to push for a better offer from Harbour Energy in the latter’s pursuit for the Co. (The Australian)

Sydney Airport (SYD AT)
– Co. total passengers rose 2.6%Y/Y in April. (Newswires)

Westfield Group (WDC AT)
– Unibail-Rodamco (UL FP) shareholders approved merger transaction for the Co. (Newswires)

Basic Materials / Energy
– Spot gold was flat.
– The Energy sector outperformed in the S&P 500 after WTI crude and Brent crude briefly broke above USD 72/bbl and USD 80/bbl respectively.
– Total chief stated he wouldn’t be surprised if oil prices increase to USD 100/bbl this year. (The Australian)

JAPAN

NEC Corp (6701 JT)
– Co. is said to allocate a further JPY 200bln on growth investments. (Newswires)

Suruga Bank (8358 JT)
– Investigation regarding loans provided on falsified documents may be widened. (Newswires)

Toshiba (6502 JT)
– China antitrust regulators approved the sale of Co. memory chip business to Bain Capital consortium. (Newswires)

SOUTH KOREA

GS Engineering & Construction (006360 KS)
– Co. receives order from Tanzania valued at USD 126.7mln. (Newswires)

Hyundai Motor (005380 KS)
– Co. and Kia Motors (000270 KS) expect their combined total sales to surpass 1mln vehicles in Europe for 2018. (Yonhap)

Kakao Corp (006360 KS)
– Co. is to merge with its entertainment affiliate Kakao M. (Newswires)

Korea Aerospace (047810 KS)
– Co. and Rockwell Collins announced to partner on maintenance, repair and overhaul bid for Korean Army and Air Force Chinook helicopters. (Yonhap)

Samsung Biologics (207940 KS)
– Biogen (BIIB) is expected to exercise call option related to Samsung Biologics unit which will allow the US biotech firm to raise its stake to 50% minus 1 share in Samsung Bioepis. (Newswires)
– South Korean regulator will conduct 2nd review related to Co.’s accounting on May 25th. (Newswires)

Other News
– US President Trump said US and North Korea are continuing to prepare for a summit next month and warned that if North Korea doesn’t make a deal they would most likely put in place a ‘Libya model’ which he referred to as a total decimation, but also stated that he thinks North Korea leader Kim would be very happy if they reached a deal. (Guardian) In separate news, the White House said the US has no intention of altering military exercises with South Korea, while there were later state media reports that North Korea is to increase efforts to defuse military tensions. (Newswires/KCNA)

(Newswires)