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Well, let's take a look at some stocks on the move today in Asia. I'm Stephen Carol with Carline Hacker and we're joined by Bloomberg's markets reporter Anthony Stevens for more. And so let's start in South Korea. That was the center of the tax set off yesterday in Asia as ke Heinex and Samsung both in focus again today.
Yeah, they're both rallying very strongly into your session, but that's mostly because of Intrada newsflow. So Samsung released a huge buyback fifty eight billion dollars to fund bonus payments, and that's got the stock up around eight percent. Henix was also strong after very week open as the Premier's kind of leadership group talks about a chip semiconductor chip
making hub in Korea that is gathering pace. So the semiconductor's pace found its level and it's like closing on the high, but a huge range in today, around six percent on the cosp Overall, it does look like the market is trying to find a level ahead of Micron's pivotal earnings tonight.
Yeah, Micron's going to be very important, is it. What other signals are we guessing then from the tech sector in Asia today, Anthony.
It's a very mixed picture. You had TSMC hinting at areaising prices across its product range. That's got TSMC down around three percent, but it's boyd some of the China competitors to tw SMC those stocks are around anywhere from eight to ten percent. Also, China's premiere was on tape on the Summer Doura basically the World Economic Forum, talking about how China's AI growth is an opportunity for the rest of the world. That's got Chinese tech rallying across
the board. China AI in particular is up anywhere from five to ten percent, and it's given Chinese tech giant new Tech chian Jupo the confidence to raise several billions of dollars in a share sale.
Yeah, the Chepe story is a really interesting one because of the numbers involved and where it's it's raising that money as well, How does it compare to what we're seeing AI firms elsewhere.
Doing this is very interesting to put this in context. So the IPO of GPU itself was only half a billion dollars, and the unlock for that IPO is coming in July eighteenth, but the stock is up some two thousand percent since, so they're using this opportunity to opportunistically raise several billion dollars. Now, let's say several billion dollars is in the high end of the ten billion dollar range. That compares with Deep Sea raising seven billion dollars and
Moonshot AI raising around two billion dollars. But what is interesting about all of that is you add that number together, you still don't get SpaceX single bond sale. So you can see the manner of degree that the US AI fundraising is much larger than the Chinese. But these are still very big numbers to be throwing around on one particular theme, and it just highlights how much invested demand there is for incremental new paper in the AI space.
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