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Speaker 2: Stock Movers Report, your roundup of companies making moves in
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Speaker 1: Well, let's take a look at some stocks on the
Speaker 1: move today in Asia. I'm Stephen Carol with Carline Hacker
Speaker 1: and we're joined by Bloomberg's markets reporter Anthony Stevens for more.
Speaker 1: And so let's start in South Korea. That was the
Speaker 1: center of the tax set off yesterday in Asia as
Speaker 1: ke Heinex and Samsung both in focus again today.
Speaker 3: Yeah, they're both rallying very strongly into your session, but
Speaker 3: that's mostly because of Intrada newsflow. So Samsung released a
Speaker 3: huge buyback fifty eight billion dollars to fund bonus payments,
Speaker 3: and that's got the stock up around eight percent. Henix
Speaker 3: was also strong after very week open as the Premier's
Speaker 3: kind of leadership group talks about a chip semiconductor chip
Speaker 3: making hub in Korea that is gathering pace. So the
Speaker 3: semiconductor's pace found its level and it's like closing on
Speaker 3: the high, but a huge range in today, around six
Speaker 3: percent on the cosp Overall, it does look like the
Speaker 3: market is trying to find a level ahead of Micron's
Speaker 3: pivotal earnings tonight.
Speaker 1: Yeah, Micron's going to be very important, is it. What
Speaker 1: other signals are we guessing then from the tech sector
Speaker 1: in Asia today, Anthony.
Speaker 3: It's a very mixed picture. You had TSMC hinting at
Speaker 3: areaising prices across its product range. That's got TSMC down
Speaker 3: around three percent, but it's boyd some of the China
Speaker 3: competitors to tw SMC those stocks are around anywhere from
Speaker 3: eight to ten percent. Also, China's premiere was on tape
Speaker 3: on the Summer Doura basically the World Economic Forum, talking
Speaker 3: about how China's AI growth is an opportunity for the
Speaker 3: rest of the world. That's got Chinese tech rallying across
Speaker 3: the board. China AI in particular is up anywhere from
Speaker 3: five to ten percent, and it's given Chinese tech giant
Speaker 3: new Tech chian Jupo the confidence to raise several billions
Speaker 3: of dollars in a share sale.
Speaker 1: Yeah, the Chepe story is a really interesting one because
Speaker 1: of the numbers involved and where it's it's raising that
Speaker 1: money as well, How does it compare to what we're
Speaker 1: seeing AI firms elsewhere.
Speaker 3: Doing this is very interesting to put this in context.
Speaker 3: So the IPO of GPU itself was only half a
Speaker 3: billion dollars, and the unlock for that IPO is coming
Speaker 3: in July eighteenth, but the stock is up some two
Speaker 3: thousand percent since, so they're using this opportunity to opportunistically
Speaker 3: raise several billion dollars. Now, let's say several billion dollars
Speaker 3: is in the high end of the ten billion dollar range.
Speaker 3: That compares with Deep Sea raising seven billion dollars and
Speaker 3: Moonshot AI raising around two billion dollars. But what is
Speaker 3: interesting about all of that is you add that number together,
Speaker 3: you still don't get SpaceX single bond sale. So you
Speaker 3: can see the manner of degree that the US AI
Speaker 3: fundraising is much larger than the Chinese. But these are
Speaker 3: still very big numbers to be throwing around on one
Speaker 3: particular theme, and it just highlights how much invested demand
Speaker 3: there is for incremental new paper in the AI space.
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