Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move
Speaker 1: today in Aita. I'm Stephen Carol with Caroline Hepker, and
Speaker 1: we're joined now from Hong Kong Buyer Markets reporter Anthony
Speaker 1: Stevens for more. And there's been so much going on
Speaker 1: in markets this week, the US Around Deal, Kevin WASH's
Speaker 1: first FED policy meeting, the Bank of Japan raising interest rates.
Speaker 1: If the around deal holds, analysts say that could take
Speaker 1: substantial pressure off energy costs and inflation. Where are you
Speaker 1: looking at Asian markets for signs of this?
Speaker 3: We're seeing signs that the investor basiness decided that tech
Speaker 3: stocks may be the best place to navigate this kind
Speaker 3: of cross current, right, especially if if inflation comes out
Speaker 3: on input costs just a little bit. And we're seeing
Speaker 3: gains in names like Yoshia advantest nicks up around five
Speaker 3: to seven percent, a Highenex came off very sharply from
Speaker 3: the heighs, but it's still up around two percent in Japan.
Speaker 3: Kind of more niche players like cable makers that need
Speaker 3: inputs from plastics and whatnot. They up around fifteen percent
Speaker 3: as demand grows much stronger than inflation.
Speaker 4: Well, let's also talk specifically about AI. Then the cosp
Speaker 4: index rose to a record, but those gains then reversed today.
Speaker 4: Why what stocks are you looking at?
Speaker 3: The cosp is kind of becoming a victim of its
Speaker 3: own success. So the National Pension Service had increased its
Speaker 3: allocation up in January, and it's made so much money
Speaker 3: that their holdings are now worth way more than their
Speaker 3: maximum allocation. So they were supposed to hold around twenty
Speaker 3: percent and now they hold something like thirty percent. Locals
Speaker 3: are basically estimating and they need to trim a little bit.
Speaker 3: That's impacting stocks like Samsung that's down two point four percent,
Speaker 3: and the most speculative corners of the Korean market in robotics,
Speaker 3: for example LGL Tronics and LG Inotech, which are down
Speaker 3: around seven percent. So the COSPI has rolled over a
Speaker 3: little bit in the PM session, driven lower by these
Speaker 3: more speculative names. As the National Pension Service and the
Speaker 3: domestics may have to trim at the edges. Bear in
Speaker 3: mind that Korean Domestics have bought seventy seven billion dollars
Speaker 3: worth from foreign selling thus far this year.
Speaker 1: Now, of course it is a quieter days trading in
Speaker 1: Asia with the Hong Kong and Chinese markets closed. But
Speaker 1: I wonder how we're thinking about the rally and the
Speaker 1: dollar and how that's feeding into equities.
Speaker 3: This is giving people a lot less space to breathe
Speaker 3: in markets that don't have tech, so Indonesia and India
Speaker 3: being the perfect example. So Indonesia, they continue to have
Speaker 3: this kind of kafaffle with MSCI, and that's impacting a
Speaker 3: stock like Telecom Indonesia which is down around six and
Speaker 3: a half percent, which is quite a big move for
Speaker 3: a telecom company. And in India, we have the names
Speaker 3: in the tech space impacted by the accenture sharp drop yesterday,
Speaker 3: so for example in PUS and TCSA dot on seven percent.
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