1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,600 --> 00:00:18,320 Speaker 1: Let's take a look at some stocks on the move 5 00:00:18,400 --> 00:00:21,159 Speaker 1: today in Asia. I'm Stephen Carroll with Carline Hepker and 6 00:00:21,200 --> 00:00:24,600 Speaker 1: we're joined Buyer Markets reporter Anthony Stevens. Actually, let's start 7 00:00:24,640 --> 00:00:28,880 Speaker 1: then with Samsung. A massive jump in chip profits, with 8 00:00:29,000 --> 00:00:30,400 Speaker 1: the share prices all over the place. 9 00:00:31,280 --> 00:00:34,400 Speaker 3: Yes, very volatile. Even in the previous kind of session, 10 00:00:34,440 --> 00:00:37,879 Speaker 3: it was trading in five to six percent ranges very easily. 11 00:00:38,400 --> 00:00:41,159 Speaker 3: That comes into the morning as well, and you're kind 12 00:00:41,159 --> 00:00:44,360 Speaker 3: of seeing an attempt here to rally against the market. 13 00:00:44,560 --> 00:00:47,199 Speaker 3: But there are wider concerns around AI that seemed to 14 00:00:47,280 --> 00:00:50,080 Speaker 3: be dragging down any kind of any kind of tech 15 00:00:50,120 --> 00:00:52,919 Speaker 3: company that reports. That being said, the fact that it 16 00:00:52,960 --> 00:00:55,520 Speaker 3: is slightly up is going to reassure people. Was a 17 00:00:55,640 --> 00:00:57,320 Speaker 3: very strong number, as you said, and there were no 18 00:00:57,400 --> 00:01:00,840 Speaker 3: gremlins in that number whatsoever. And they have a lot 19 00:01:00,920 --> 00:01:04,040 Speaker 3: more diversified kind of business compared to Heenex. They do 20 00:01:04,120 --> 00:01:07,920 Speaker 3: DRAM and HBM and foundry, and the market is giving 21 00:01:07,920 --> 00:01:10,680 Speaker 3: them some grace on that front. It's also coming as 22 00:01:10,720 --> 00:01:14,200 Speaker 3: there are some decent results out of Taiwan, had UMC 23 00:01:14,800 --> 00:01:18,520 Speaker 3: trade near limit upon earnings and advantaceds in Japan also 24 00:01:18,560 --> 00:01:22,319 Speaker 3: trading quite strongly after earnings, So some good earnings resulting 25 00:01:22,400 --> 00:01:24,880 Speaker 3: in good price action in some markets. 26 00:01:25,800 --> 00:01:29,399 Speaker 4: Yeah, but in China, it's not sort of lifted chip stocks. 27 00:01:29,400 --> 00:01:33,360 Speaker 4: They're still focused on Chinese disruption in terms of AI. 28 00:01:33,360 --> 00:01:36,720 Speaker 4: You got the CSI three hundred down and the China 29 00:01:36,800 --> 00:01:38,479 Speaker 4: x thoer too, And. 30 00:01:38,480 --> 00:01:41,120 Speaker 3: Yeah, you see this continued worry about the fact that 31 00:01:41,120 --> 00:01:44,920 Speaker 3: the Chinese are going to start mass producing AI chip components, 32 00:01:45,040 --> 00:01:48,520 Speaker 3: hitting both the Chinese markets and under the hood the 33 00:01:48,600 --> 00:01:51,320 Speaker 3: Korean market as well. So in the Chinese you're seeing 34 00:01:51,600 --> 00:01:55,040 Speaker 3: weakness in the optical space, in the passive space. And 35 00:01:55,120 --> 00:01:58,120 Speaker 3: something to really highlight is Hong Kong at a huge ip, 36 00:01:58,240 --> 00:02:01,000 Speaker 3: one of its biggest in seven years. Zong you know, 37 00:02:01,120 --> 00:02:03,880 Speaker 3: light that stock is down around five percent. It's dual 38 00:02:03,960 --> 00:02:06,360 Speaker 3: listed in China, and it's picked a wrong day for that, 39 00:02:06,880 --> 00:02:10,440 Speaker 3: and it's tracking the Chinese. The Chinese shas lower. Also 40 00:02:10,720 --> 00:02:15,239 Speaker 3: in Korea, you see weakness in Samsung electro Mechanics, which 41 00:02:15,280 --> 00:02:18,560 Speaker 3: is down fifteen percent despite a pretty clean beat on earnings, 42 00:02:18,600 --> 00:02:20,959 Speaker 3: and that is because it makes some of these simpler 43 00:02:21,000 --> 00:02:24,000 Speaker 3: components that the market is speculating that China is going 44 00:02:24,040 --> 00:02:25,040 Speaker 3: to start mass producing. 45 00:02:26,040 --> 00:02:29,320 Speaker 1: Okay, you've also been looking at how Japanese banks have 46 00:02:29,360 --> 00:02:32,200 Speaker 1: been reacting from that hawkish hold from the Fed. 47 00:02:33,160 --> 00:02:35,520 Speaker 3: Yeah, it's very interesting. Japan banks for being a massive 48 00:02:35,520 --> 00:02:39,000 Speaker 3: outperformer year to date and been trading pretty sedately, so 49 00:02:39,120 --> 00:02:42,440 Speaker 3: very good sharp pressure. They track kind of a normalization 50 00:02:42,639 --> 00:02:45,440 Speaker 3: of bog rates, but the FED going on hawkish hold 51 00:02:45,480 --> 00:02:48,760 Speaker 3: has kind of disrupted that in two different ways. One 52 00:02:48,919 --> 00:02:51,680 Speaker 3: is the BOJ now has less urgency to hike and 53 00:02:51,720 --> 00:02:53,440 Speaker 3: the second is they're going to make less money in 54 00:02:53,480 --> 00:02:56,600 Speaker 3: the US from basic lending. So that's got the japan 55 00:02:56,919 --> 00:03:01,280 Speaker 3: topics bank sit down quite sharply. And the result individual 56 00:03:01,360 --> 00:03:04,760 Speaker 3: names Mitsubisi UFCHA is down three percent, Mitsuho Financial is 57 00:03:04,800 --> 00:03:07,359 Speaker 3: down two and a half, and Sumitoyo Mitsui is down 58 00:03:07,400 --> 00:03:09,280 Speaker 3: two and a half. So these are pretty big moves 59 00:03:09,400 --> 00:03:12,240 Speaker 3: on the banks in what should be a defensive tape, 60 00:03:12,560 --> 00:03:14,440 Speaker 3: and that's going to be a new change for markets 61 00:03:14,480 --> 00:03:15,040 Speaker 3: to digest. 62 00:03:15,560 --> 00:03:17,760 Speaker 4: Yeah, Answery, I'll be curious as to your view on 63 00:03:17,800 --> 00:03:19,840 Speaker 4: what happened with the FED and what that means so 64 00:03:20,000 --> 00:03:24,160 Speaker 4: markets in Asia, because yesterday it seemed actually quite a 65 00:03:24,160 --> 00:03:27,239 Speaker 4: shock they can't a press conference that Kevin Wash made. 66 00:03:28,320 --> 00:03:31,320 Speaker 3: Yeah, Kevin Wash is clearly moving to a paradigm where 67 00:03:31,320 --> 00:03:34,120 Speaker 3: he wants the markets to do the work for him. 68 00:03:34,400 --> 00:03:37,280 Speaker 3: And he said that explicity play play the game and 69 00:03:37,280 --> 00:03:39,320 Speaker 3: not the referee, or play the ball and not the referee. 70 00:03:39,360 --> 00:03:42,080 Speaker 3: Quite an evocative phrase. And that means that markets will 71 00:03:42,120 --> 00:03:45,920 Speaker 3: be a lot more volatile pricing incremental data flow because 72 00:03:45,960 --> 00:03:48,920 Speaker 3: you do not have the FED to anchor guidance. So 73 00:03:48,960 --> 00:03:51,720 Speaker 3: you saw the thirty year move quite sharply, and that 74 00:03:51,840 --> 00:03:54,560 Speaker 3: is because that is a less liquid and less anchored 75 00:03:54,880 --> 00:03:58,040 Speaker 3: part of the curve, and that will play into Asia 76 00:03:58,120 --> 00:04:01,480 Speaker 3: in the long term funding pre ing for stuff like 77 00:04:01,560 --> 00:04:04,840 Speaker 3: AI because AI is a very long duration trade. So 78 00:04:04,880 --> 00:04:07,040 Speaker 3: the more you see the thirty year move, the more 79 00:04:07,080 --> 00:04:09,760 Speaker 3: you will see a trouble in the AI trade. 80 00:04:10,320 --> 00:04:14,560 Speaker 2: The Stockmovers Report from Bloomberg Radio. Check back with us 81 00:04:14,560 --> 00:04:17,400 Speaker 2: throughout the day for the latest roundup of companies making 82 00:04:17,440 --> 00:04:21,080 Speaker 2: news on Wall Street and for the latest market moving headlines. 83 00:04:21,279 --> 00:04:25,279 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 84 00:04:25,320 --> 00:04:28,400 Speaker 2: dot com, and on Applecarplay and Android Auto with the 85 00:04:28,440 --> 00:04:29,799 Speaker 2: Bloomberg Business App.