亚洲芯片股走低：铠侠跌7.5%，SK海力士、三星承压

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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. Let's take a look at some stocks on the move today in Asia. I'm Steven Carroll with Caroline Heepker and joining us now is our markets reporter Anthony Stevens. Andy, let's start with the memory chip makers then who are struggling despite Nvidia's strong guidance earlier this week. Why?

And we got some taste that something was already uh overnight where Nvidia was up 8% and Micron was flat, right? And one of the reasons for that is one of the big trades in tech has been in memory. It's consensus. Everybody knows about it. Uh and meanwhile that $400 billion in market cap that Nvidia just gained has to come from somewhere. So from a purely flow perspective, you are going to see some trimming in the memory trade.

But that's gotten worse in the Asia time zone as Kioxia uh Heinix and others continue to talk about expansion in capacity, expansion in technology and there's basically this arms race between the major players to build out capacity and to technology innovate each other, right? And that kind of caught the eyeballs of traders today. Kyokia in particular is down 7 and a half% is getting worse as European PMs come in and it's a standout lagard in Japan.

Uh and the Cosby as as well is quite weak. uh you have SKH Highix and Samsung coming off some pretty pretty sharp uh drops here now uh as Europe comes in. You know, they're down around 4% from where they went out yesterday. So, this is a big problem for longshot PMs in general. It's a very consensus trade uh in in tech memory. Obviously, everybody knows the bullish story, but how does the bullish story interact with the mass of capex that's coming that's going to take money away from shareholders, but also builds capacity perhaps at the t at the top of the cycle just as the Chinese are ramping up.

Interesting. On on the other hand, there are companies in Asia that are getting a boost on the prospect of more memory.

Yeah. All the consumer companies that need memory are celebrating this buildout in capex and potentially some of this new supply that's coming on board. Now you have the Chinese NAND producer YMTC coming to market and they're making these very bullish sounds in their IPO marketing process about trying to catch Samsung and he in NAND and that's exactly what the rest of the consumer electronic space wants to hear. So as a result, you're seeing stocks like Sony and Nintendo and Xiaomi rallying quite uh nicely and it'll be very interesting to see how Apple trades when it comes in in the US.

Well, let's think a little bit about the software sector. It's been under a lot of pressure as we've been seeing increasing uses of AI questions of what a lot of their products is going to mean in an AIdriven world. But we have actually software firms in Asia moving higher and that's on hopes that perhaps things won't be as bad as we had thought they were. Yes, the earning season in the US has been full of surprises on the on the software side.

People are really consolidating their client relationships and using AI to bring down costs to monetize those client relationships better. So, we had a multiple bunch of 20% up moves in software. It was a big short squeeze overnight. Salesforce and Crowd Strike in particular were up 20%. Uh and that's feeding into Asia where kind of a local language software players had been worried about AI intermediation. the likes of Kingd and Recruit in Japan and in China uh where they where they produce software in local languages and everyone was worried that you know AI would eat their lunch.

Uh but this space has done really well recently. It's supercharged by the short squeeze but also it turns out like in English in Chinese or in Japanese people are just using AI to produce better software for the customers that they understand the best.

Yeah. uh can't really end this discussion without asking you what your perspective on Walsh is from from Asia. What what do people really focus on where you are on on his speech today?

Look, I I went through the symposium's agenda. It's about talking about financial tokenization and uh kind of financial innovation. So, you know, monetary policy is not really on the agenda, right? So it would be quite offpiece for him to start talking about a new framework around monetary policy especially when he said he would be leading the more care communication style around the Fed. So you'd expect him to be very tentative at best he will like kind of clear his throat around the most recent economic prints that the US has seen which broadly support his view that not much has to be done at the current moment.

I very much doubt that he will reference the treasury buyback plan in any shape or form and avoid that conflict altogether. He will reference probably the global wave of AI innovation and maybe the potential for short-term inflation but long-term deflation which is one of his like great theoretical kind of constructs. So there will be a little bit of fleshing of his thoughts around economic subjects but I would be extremely surprised if he gives any kind of hard guidance about what he is going to do or his reaction function to data going forward.

The stock movers report from Bloomberg radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg.com, and on Apple CarPlay and Android Auto with the Bloomberg Business App.