PRE-MARKET AUSTRALIA AND SOUTH KOREAN STOCK NEWS: Oil prices surge after Saudi refinery attacks, Virgin Australia (VAH AT) is to buyback 35% stake in Velocity frequent flyer program from Affinity


Bellamy’s Australia (BALA T) – Co. will be acquired by Mengniu Dairy (2319 HK) for AUD 13.25/Shr. (Newswires)

LNG (LNG AT) – Co. agrees to supply deal in Vietnam with Delta Offshore Energy. (Newswires)

Orocobre (ORE AT) – Co. received regulatory clearance to complete purchase of Nyanzaga Mining. (Newswires)

Pacific Energy (PEA AT) – Co. board recommends revised offer from QIC. (Newswires)

Sims Metal Management (SGM AT) – Co. warned H1 is expected to be materially lower Y/Y in which it stated ferrous and non-ferrous prices are having the biggest impact as well as reduced demand for steel and aluminium amid US-China trade war. Furthermore, there were reports Co. is to make a material announcement related to acquisition or asset sales. (AFR)

TPG Telecom (TPM AT) – ACCC provided documentation which showed the Co. deliberately amended financial models to boost the net present value of an investment in mobile spectrum to secure capital. (Newswires)

Virgin Australia (VAH AT) – Co. is to buyback 35% stake in Velocity frequent flyer program from Affinity. (AFR)

Energy – Oil prices rose as much as 20% following the Saudi oil refineries attack. (Newswires)

Other News – Australian intelligence determined China was behind a major cyberattack on Australian Parliament which political parties discovered in February but decided not to reveal findings to protect relation ship with its top trading partner China. (Newswires)



SK Innovation (096770 KS) – Co. has been selected to supply battery pack for Ferrari’s first plug-in hybrid electric vehicle. (Newswires)

Tobacco – South Korea tobacco imports rose to record high and showed the largest Y/Y growth since 1995 amid e-cigarette boom. (Newswires)

Geopolitics – North Korea leader Kim sent a letter which proposes that US President Trump visit Pyongyang. (Newswires)

Other News – South Korea President Moon’s office stated that job growth is showing clear signs of improvement with the government planning to roll-out pre-emptive measures to help cushion the impact from inevitable restructuring of some troubled businesses. (Newswires)