软银OpenAI新模型利好涨11.6% 阿里京东受中国服务业PMI提振

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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 in Asia. I'm Steven Carroll and I'm joined by Bloomberg's markets reporter, Anthony Stevens. Anthony, good to have you back with us. Soft Bank Shares celebrating OpenAI's new model as well as some other related stocks. tell us more.

Yeah, OpenAI's new model GPD6 looks like a sea change. Uh we've had a break from these incremental new models that's come out. They're claiming that this is the start of artificial general intelligence, which is quite a claim. Uh and so far shareholders in SoftBank, which is a chunky uh slice of open AI, are celebrating. It's up 11.6%. And that's taking memory makers ahead with it as well. The computational demand of such a advanced model is being taken as a positive sign for memory demand going forward.

So you have Kioshshire up 6% and heinix up 5%. This breaks the kind of slide that uh that those uh that space has seen over the last couple of weeks. So now we have a new catalyst to the upside.

Okay. And China though threaten threatening to steal the show in Asian trading. Some good services PMI helping to lift those big e-commerce names.

Yeah. The other side of the AI trend is obviously China and we're seeing some of that uh kind of optimism feed through to the Chinese consumer. We saw China services PMI beat based on domestic consumption themes like travel. Uh and as a result people that are selling services online in China are doing really well. Alibaba is up 2 and a half%. Mtoan one of the big lagards of the Chinese tech rate that's up almost 5%. that stock was a victim of the Chinese e-commerce price wars and it seems to be shaking that off now that the Chinese consumer has turned the corner.

Also, I would point out a stock called Miniax that's up around 7% today at the highs. It was up nine uh as they combine with the Saudi uh humane uh AI company to launch uh Arabic AI.

Yeah, very interesting one to watch as well. Let's talk about Hong Kong property firms next though. uh getting a bit of a lift from some of what we're seeing uh rippling out through quite markets globally as well and this is what we heard from the fed governor Christopher Waller yesterday about interest rates.

Yeah, remember that Hong Kong is a peg currency. We take our interest rate policies here uh from the US and if the US looks a little bit more doubbish that sets up a environment for property here that is quite constructive. The Chinese economy as I mentioned is turning the corner a little bit. You see prime real estate in Hong Kong doing quite well. Unfortunately, my rent is higher. Uh, and this is helping the Chinese listed landlords.

Sanankai is up 4%, Henderson is up three, and WAF real estate is up three and a half. This has been a choppy space because, uh, it's not really clear whether the Hong Kong property uh, landlords can continue to charge this much when China is so materially cheaper.

Okay. Well, just in terms of the macro moves as well that we've been tracking to, lots of interest again in in Japanese assets today. that big move in JDBs and we do have the yen weakening a little after it strengthened so much yesterday. So currently 4/10 weaker against the the US dollar. What does all of this mean in terms of the picture for the Bank of Japan? Anthony,

at the end of the day, the Bank of Japan needs to follow through for the yen to have any sustainable strength, right? That's that's the reality. Uh all the conversation from Bessant and the Japanese government is is enough to kind of shake laziness out of the shorty yen positions, which is kind of what happened yesterday. they had a big move uh you know into into very tight positioning. Um volatility has spiked in the dollar yen from a from a period of extreme silence.

So now we have back back to normal where we have these hikes on board. We have several economies asking for a jumbo hike or backtoback hikes at the very least and they do need to follow through with that otherwise we're going to continue to go back to the weakness. Uh in terms of the yield gap with the US that has closed. So there is a little bit of a fundamental argument as well, but once again it requires the Bank of Japan to follow through.

There is no point having a yield gap that is not sustainable and not supported by actual rate moves. So it'll be very interesting to see the next couple of meetings for the BJ. 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.