PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCKS NEWS: Northern Star Resources (NST AT) is preparing potential sales of non-core mining assets as it seeks to defend against a takeover bid, while Hyundai and Kia provided sales updates

AUSTRALIA Northern Star Resources (NST AT) - Co. is preparing potential sales of non-core mining assets as it seeks to defend against Gold Fields’ AUD 38.7bln takeover bid. (The Australian) Origin Energy (ORG AT) - Co. has abandoned its Skye Ridge wind farm project in NSW amid rising construction costs and will focus development efforts on the Northern Tablelands Wind Farm. (The Australian) Firmus Technologies - Co. is targeting a AUD 43.7bln valuation in what would be Australia’s second-largest IPO, as it seeks to capitalise on rising AI computing demand. (The Australian) Broker Ratings/Price Target Computershare (CPU AT) price target cut 2.6% to AUD 38.00/shr by Macquarie. Evolution Mining (EVN AT) price target cut 4% to AUD 13.50/shr by Macquarie. QBE Insurance (QBE AT) upgraded to Outperform from Neutral, price target raised 12% to AUD 26.20/shr by Macquarie. Transurban (TCL AT) upgraded to Outperform from Neutral, price target raised 3.7% to AUD 14.00/shr by Macquarie. JAPAN Daikin Industries (6367 JT) - Co. faces investor pressure to improve capital efficiency and consider shedding underperforming businesses as its assets grow faster than profits and ROE trails US rivals. (Nikkei) Synspective (290A JT) - Co. signed its largest launch contract to date with Rocket Lab (RKLB US) for 20 satellite launches. (Nikkei) Toshiba - Co. plans to double production capacity for hard disk drives used in AI data centres by FY27, including expanding its Philippine plant and increasing storage capacity per drive. (Nikkei) Banks Major Japanese banks have uncovered roughly twice as many system vulnerabilities following the release of Mythos AI, highlighting increased cybersecurity risks and prompting calls for stronger defences. (Nikkei) Other News Japanese PM Takaichi said the government will appropriately control total annual government bond issuance across initial and supplementary budgets while meeting necessary fiscal needs under its “responsible proactive fiscal policy”; she added that the yen’s undervaluation is a problem, Japan’s economic policy is not aimed at manipulating FX, and the planned consumption tax cut on food should be reflected in lower prices. (Newswires) Japanese PM Takaichi has moved away from reflationary policy as the US presses Japan over economic policy and the yen. (Nikkei) SOUTH KOREA Hyundai Mobis (012330 KS) - Co. signed a KRW 600bln deal to sell its lamp unit to France’s OPmobility following the unit’s spin-off in April. (Yonhap) Hyundai Motor (005380 KS) - Co.’s September sales fell 16% Y/Y amid fewer working days due to the Chuseok holiday, while US sales rose 9% Y/Y to 77,439 vehicles, marking its highest-ever September sales; the Co. also unveiled its next-generation Tucson SUV in New York. (Yonhap) Kia (000270 KS) - Co.’s September sales rose 5.1% Y/Y on strong overseas SUV demand, while US sales rose 18% Y/Y to 77,009 vehicles, marking its highest-ever September sales. (Yonhap) Shinhan Financial Group (055550 KS) - Shinhan Bank said personal information of around 25,000 customers was leaked in an apparent AI agent-assisted hacking incident, prompting the financial watchdog to conduct an on-site inspection. (Yonhap)