PRE-MARKET JAPANESE AND SOUTH KOREAN STOCK NEWS: Kobe Steel (5406 JT) CEO to resign following quality cheating scandal

JAPAN

Kobe Steel (5406 JT)
– Co. CEO reportedly will hand in resignation following quality cheating scandal. (Newswires)

Nissan Motor (7201 JT)
– Co. Feb. China sales rose 4.4% Y/Y to 78.1K units. (Newswires)

Shiseido (4911 JT)
– Co. is to invest USD 2.8bln on capacity and upgrade its technology. (Nikkei)

Sumitomo Corp (8053 JT)
– Co. is said to be close to a deal to by a French wind farm project. (Newswires)

Toyota Motor (7203 JT)
– Co. Feb. China sales fell 6.3% Y/Y to 76.7K units. (Newswires)

Yaskawa Electric (6506 JT)
– Co. are to supply parts to Chinese robot producers. (Nikkei)

Other News
– Goldman Sachs said that a worsening of trade concerns could weigh on foreign demand for Japanese stocks. (Newswires)

 

SOUTH KOREA

Kia Motors (000270 KS)
– Co. reached the 1mln milestone in sales of its Soul urban passenger vehicle in US. (Newswires)

LG Electronics (066570 KS)
– Co. is to launch OLED televisions with artificial intelligence this year which will allow the user to switch channels and search for information by voice. (Nikkei)

Samsung Electronics (005930 KS)
– Analysts expect Co. to reduce its OLED investments this year amid sluggish iPhone X demand. (FT)

Property
– South Korea is to discuss revision of property holding tax. (Newswires)

Other News
– North Korean Leader Kim stated that it is his firm will to advance inter-Korean relations and write new history of unification, while Kim is also reported to have agreed to meet with South Korean President Moon following talks. (KCNA/Newswires)
– South Korea is to challenge US steel tariffs at the G20. (Newswires)

(Newswires)