亚洲股市：半导体走弱、CXMT业绩强劲、中国银行股上涨

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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 and I'm joined by Bloomberg's markets reporter Anthony Stevens. Anthony, good morning. Let's start in Japan. You've been tracking the follow-through from weakness in semiconductor shares. Yeah, it was an interesting session on Friday night when you saw the semiconductor shares materially underperform the US hyperscalers with not much news uh at the margin.

Kevin Walsh did mention in his speech that he is not sure who the eventual beneficiaries of the AI boom will be and with the semiconductor trade being an extremely crowded trade heading into month end you'll probably see some rebalancing to kind of buy stuff like Microsoft or other other kind of hyperscalers and we're seeing the similar kind of follow through in Asia the the Japanese semiconductor material space is and semiconductor material and testing space is extremely overowned positioning uh space so for example you see advanc test, Tokyo Electron, Laser Tech, uh all all of those names are down three and a half% and they haven't really bounced as much as Korea has done.

Intraday is because that positioning is so heavy. Uh and people are finding other stuff to buy in Japan, most notably the weak yen players like Toyota Motors. Yeah, indeed a very interesting one to be watching. Meanwhile, memory makers are under pressure despite very strong results from CXMT. Is the market pricing in a race to over capacity then? Yeah, we continue to see memory go, you know, not very far. Uh despite some really good results, really good guidance, uh really good statements from Nvidia and CX7's results are the latest in a long line of very strong results from memory.

Uh their revenues almost 10xed. Uh they swung from a notable loss to a notable profit. They beat their own IPO projections uh by some distance. So that's quite bullish and stocks flat, right? Uh I think it's one of those consensus positions across the street. It takes a really big change to move the needle on memory given how well known the story is. And you're seeing that with CXMT flat, uh, Samsung small down, Korea small down.

Actually, Korea started the day really badly, down around 3% at the lows and has fought its way all the way back to flat. It's really interesting to note that the local retail has more or less given up playing Korea very aggressively as volumes in their leverage ETFs drop. Guess where Korea is buying instead? They've bought $1.5 billion of leveraged US semiconductors instead.

Okay. And just staying with the tech space as well, we're seeing a sharp drop in shares in Uni Micron. What's going on there?

Yeah, that's an interesting one. You know, there's so much uh sensitivity around Chinese uh imports into the US on the tech front and exports as well. uh this company has managed to mislabel some of its Chinese production as Taiwanese uh and uh you know skirted a bunch of regulations as a result. Now prosecutors are raiding their officers uh and let's see what happens in terms of positioning. This is a very well-loved stock.

It's one of those big winners in Taiwan this year. It's up triple digits. So there is a lot of air underneath if the prosecutors do decide to uh you know sanction the company or limit its production or any other such uh kind of penalties.

Okay. And meanwhile Chinese banks gaining today lifted by their strong earning season.

Yes. The Chinese banks have come through with a second quarter of really good earnings. What really surprised me pulling up the charts is that Chinese banks have actually outperformed US banks over the last 5 years. That's something that I would have never guessed. Uh just on the back of the repairing of their balance sheet. Bear in mind the PBOC has actually kept rates quite low, but they haven't been pushing through any kind of sim silly stimulus or forcing the banks to do anything uh too farfetched to rescue the property market and that's really paid off in the boom uh that China has had recently in terms of the exports and the industrial side of AI.

These banks have made a lot of money. uh consumers have repaired their balance sheet uh somewhat from the property lending fiasco and you do see property prices actually start to stabilize in China's big cities where land auctions are starting to do well. So all of these things line up really quite well for the China banks uh and there and the street has been surprised by the quality of the results as well which is quite rare for Chinese banks.

So you see CCB is up 3.6%. Uh you see Bank of um Postal Bank of China is up 7% which is a big move for that stock and Bank of China is up at a record up 5%. 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.