Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move
Speaker 3: in Asia. I'm Stephen Kroll with Caroline Hepger, and we're
Speaker 3: joined by Bloomberg's equity reporter Winnie Sue when he shares
Speaker 3: an eske Heinex tumbling today. Pretty volatile day though, a
Speaker 3: second day of declines for the South Korean cospy, although
Speaker 3: amid some quite big swings. What did we learn from
Speaker 3: esq Heinez's highly anticipated results?
Speaker 1: Yeah, well what today when you look at the earnings,
Speaker 1: Actually we're talking about quarterly profits jumping five hundred and
Speaker 1: fifty seven percent, right, and with this massive number, this
Speaker 1: is still missing estimate by about six percent. So that
Speaker 1: is kind of how high the expectations have been running
Speaker 1: and a bit of a disappointment with revenue also missing estimate.
Speaker 1: But adding to that, we are also hearing some disappointment
Speaker 1: in terms of how there is a lack of detailed
Speaker 1: information from the earnings call, in terms of the share
Speaker 1: buyback plans, a shareholder returns and the long term contracts
Speaker 1: that the company is signing with their clients. Now with
Speaker 1: the rising expectation for the further keypex spending, that is
Speaker 1: also adding to further on ease among investors who are
Speaker 1: looking at this AI trade right now. So you did
Speaker 1: see that s Kehiex falling by intra day record and
Speaker 1: it also triggered a circuit breaker on the Cosby Index.
Speaker 1: And this is the very first time on record that
Speaker 1: we're seeing a back to back circuit breaker for the Cosby.
Speaker 1: So really the momentum has been unwinding very quickly, although
Speaker 1: we did see a bit of a rebound from those
Speaker 1: levels right now as we see a bit of a
Speaker 1: dip buying coming through given that valuations are really at
Speaker 1: record low levels as well.
Speaker 4: Yeah, I mean it's staggering also, isn't it The numbers
Speaker 4: the SKHNIS is talking about. And yet as you say
Speaker 4: those high expectations, I mean they're talking about at least
Speaker 4: thirty one billion dollars in capital spending for this year
Speaker 4: for me sq Heinex. Yeah, massive, massively volatile trading day.
Speaker 4: What about also these Chinese ev stocks which are rallying.
Speaker 4: That's another major story in Asia. Why are they seeing gains.
Speaker 1: Yeah, that's quite interesting, Ray because you are seeing these
Speaker 1: hardware names in Asia taking a hit, while these memory
Speaker 1: chip beneficiaries or memory spenders in fact are gaining. And
Speaker 1: that is on the back of how funds are rotating
Speaker 1: away from these AI stocks, and also we are hearing
Speaker 1: some concerns easing around the memory chip costs, so those
Speaker 1: expectations are helping the likes of le Auto and Neo
Speaker 1: byd these Chinese EVN names rising today. But interestingly is
Speaker 1: that contrast of Korean stocks falling so much and on
Speaker 1: days like this typically recently, we have been seeing a
Speaker 1: rebound in shares in Hong Kong, whether it's ev stocks
Speaker 1: or for example, financials are also doing well because of
Speaker 1: their dividend yields. But the internet names, which have been
Speaker 1: beaten up quite a lot this year, are also gaining,
Speaker 1: with Morgan Stanley expecting earnings to come through quite positive
Speaker 1: positively for these names as well. So we are in
Speaker 1: fact seeing the Hansaying Index outperforming MSCI Asia Index in
Speaker 1: July by the most since nineteen ninety eight. So quite
Speaker 1: an interesting trend changeing trend there.
Speaker 3: Yeah, certainly is, and briefly just on Japan. You're watching
Speaker 3: construction stocks after the earthquake yesterday.
Speaker 1: Yeah, exactly, a very unfortunate massive earthquake hitting Japan's southwestern
Speaker 1: island of Kshu yesterday yesterday afternoon. Now, that area is
Speaker 1: the hub of Japanese manufacturers, and we have lots of
Speaker 1: factories there, including the likes of TSMC having a big
Speaker 1: factory and Sony Semiconductor for example. So so far we
Speaker 1: have heard that at least thirteen people killed in this
Speaker 1: earthquake and many to be rescued still, and that some
Speaker 1: of the factories have suspended the suspended their operations. So
Speaker 1: at this point, after that massive explosion at the Eon Mall,
Speaker 1: which is a really big mall in the area, we
Speaker 1: are seeing construction stocks gaining some traction because of the
Speaker 1: expectation for further demand for reconstruction around this area.
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