Softbank Rises, Alibaba Gains, Sung Hung Kai Up

0:00Some people treat Chachy PT like some kind of smart search engine, and some use it to get work done. Chachy PT work is a new way of working in Chachy PT that can take action across your apps and files, stay with a project for hours if needed, and turn a goal into finished work. It's designed to help you move from a chaotic starting point to a reviewable first version. So all the source materials, briefs, and scattered information that you have to grind through to turn into something useful can just become something useful. Put Chachy PT to work on your most ambitious ideas and projects. Get started at chachypt.com by selecting Work Mode, available on plus and pro plans. Bloomberg Audio Studios. Podcasts, radio, news. 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.

1:00I'm Stephen Carroll and I'm joined by Bloomberg's Market's reporter, Anthony Stevens. Anthony, good to have you back with us. Soft bank shares, celebrating open AIs, new model, as well as some other related stocks. Tell us more. Open AIs, new model, GPT-6 looks like a sea change. We've had a break from these incremental new models that come out. They're claiming that this is the start of artificial general intelligence, which is quite a claim. And so far, shareholders in Softbank, which is a chunky slice of open AIs, are celebrating. It's up 11.6%. And that's taking memory makers ahead with it as well. The computational demand of such an advanced model is being taken as a positive sign for memory demand going forward. So you have Kyakshia up 6%, and Hynix up 5%. This breaks the kind of slide that those that space has seen over the last couple of weeks. So now we have a new catalyst to the upside. OK. And China, those threatening to steal the show and Asian trade and some good services, PMI helping to lift those big e-commerce names.

2:02Yeah, the other side of the AI trade is obviously China. And we're seeing some of that kind of optimism feed through to the Chinese consumer. We saw China's services PMI beat based on domestic consumption teams, like travel. And as a result, people that are selling services online in China are doing really well. Alibaba is up to 1.5% Meitoa, one of the big laggards of the Chinese tech trade. 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 Minimax. That's up around 7%. Today, the highs, it was up 9. As they combine with the Saudi humane AI company to launch Arabic AI. You're very interesting going to watch as well. Let's talk about Hong Kong property firms next, though, getting a bit of a lift from some of what we're seeing, ripping out through quite markets globally as well. And this is what we heard from the fact governor, Christopher Waller, he asked today about interest rates. Yeah, I remember that Hong Kong is a peg currency. We take our interest rate policies here

3:06from the US. And if the US looks a little bit more dubious, that sets up environment for property here that is quite constructive. The Chinese economy, as I mentioned, is turning the corner a little bit. You see a prime real estate in Hong Kong doing quite well. Unfortunately, my rent is higher. And this is helping the Chinese listed landlords. Son An Kai is up 4% Henderson's up 3 and what real estate is up 3 and a half. This has been a choppy space because it's not really clear whether the Hong Kong property 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 Japanese assets today, that big move in JDBs. And we do have the end week and a little after its strength and so much yesterday. So currently 4, 10th week or against the US dollar. What does all of this mean in terms of the picture for the Bank of Japan, Anthony? And then the other day, the Bank of Japan needs to follow through for the end to have any sustainable strength. That's the reality. All the conversation from

4:08Bessent and the Japanese government is enough to kind of shake laziness out of the short end positions, which is kind of what happened yesterday. They had a big move into very tight positioning. Volatility has spiked in the dollar end from a period of extreme silence. So now we have back to normal where we have these hikes on board. We have several economies asking for a jumbo hike or back-to-back 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. 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 modes. So it'll be very interesting to see the next couple of meetings for the B&J. This stock movers report from Bloomberg Radio. Check back with us today for the latest round-up of companies making news on Wall Street. And for the latest market

5:09moving headlines, listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg.com and on Apple CarPlay and Android Auto with the Bloomberg Business app. Some people treat Chachi-PT like some kind of smart search engine. And some use it to get work done. Chachi-PT work is a new way of working in Chachi-PT that can take action across your apps and files, stay with a project for hours if needed, and turn a goal into finished work. It's designed to help you move from a chaotic starting point to a reviewable first version. So all the source materials, briefs, and scattered information that you have to grind through to turn into something useful can just become something useful. Put Chachi-PT to work on your most ambitious ideas and projects. Get started at chachi-PT.com by selecting Work Mode, available on Plus and Pro Plans. Hello Los Angeles, it's Jill Weisenthal. And Tracy Alloy here from the Othlots podcast.

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