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Let's take a look at some stocks on the move today in Aita. I'm Stephen Carol with Caroline Hepker, and we're joined now from Hong Kong Buyer Markets reporter Anthony Stevens for more. And there's been so much going on in markets this week, the US Around Deal, Kevin WASH's first FED policy meeting, the Bank of Japan raising interest rates. If the around deal holds, analysts say that could take
substantial pressure off energy costs and inflation. Where are you looking at Asian markets for signs of this?
We're seeing signs that the investor basiness decided that tech stocks may be the best place to navigate this kind of cross current, right, especially if if inflation comes out on input costs just a little bit. And we're seeing gains in names like Yoshia advantest nicks up around five to seven percent, a Highenex came off very sharply from the heighs, but it's still up around two percent in Japan. Kind of more niche players like cable makers that need
inputs from plastics and whatnot. They up around fifteen percent as demand grows much stronger than inflation.
Well, let's also talk specifically about AI. Then the cosp index rose to a record, but those gains then reversed today. Why what stocks are you looking at?
The cosp is kind of becoming a victim of its own success. So the National Pension Service had increased its allocation up in January, and it's made so much money that their holdings are now worth way more than their maximum allocation. So they were supposed to hold around twenty percent and now they hold something like thirty percent. Locals are basically estimating and they need to trim a little bit.
That's impacting stocks like Samsung that's down two point four percent, and the most speculative corners of the Korean market in robotics, for example LGL Tronics and LG Inotech, which are down around seven percent. So the COSPI has rolled over a little bit in the PM session, driven lower by these more speculative names. As the National Pension Service and the
domestics may have to trim at the edges. Bear in mind that Korean Domestics have bought seventy seven billion dollars worth from foreign selling thus far this year.
Now, of course it is a quieter days trading in Asia with the Hong Kong and Chinese markets closed. But I wonder how we're thinking about the rally and the dollar and how that's feeding into equities.
This is giving people a lot less space to breathe in markets that don't have tech, so Indonesia and India being the perfect example. So Indonesia, they continue to have this kind of kafaffle with MSCI, and that's impacting a stock like Telecom Indonesia which is down around six and a half percent, which is quite a big move for a telecom company. And in India, we have the names in the tech space impacted by the accenture sharp drop yesterday, so for example in PUS and TCSA dot on seven percent.
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