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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Now, let's take a look at some of the stocks on the move today. I'm Caroline hepga Hit in London and I'm joined by Bloomberg's market supporter Anthony Stevens. Good to speak to you, Anthony. Happy Friday. Wow, big eno the week though, isn't it? SoftBank? What does it mean to SoftBank to have open Ei maybe delaying its IPO.
Yeah, it's really catalyzing this concern that Open Eyes investment will not be coming to my public markets and soft Bank will not be able to mark that to market and maybe look to unwind some of these big Ai bets that Masayoshi san has put up over the over the last few years. So it's down thirteen percent soft Bank. It's also taking down related Escape Square in Korea, which is the Korean equivalent of SoftBank, that's done around ten percent as well.
Yeah. Meanwhile, Samsung and sk Heinech so expected to announce big AI investments. Is that why both those stocks are down?
It's a mix of concerns. You have the memory price concerns in Apple, and then you have them coming up with this huge investment, and pardon the pun, it's really started some soul searching the in the Korean market today with heinis down around ten percent, And the reason for that is it's just a massive investment. It's six hundred and twenty six billion dollars right then, this is a
huge investment in the context of the Korean economy. And bear in mind they also need to keep investing in the US under the trade pledges between Korea and the US. So what is going to keep paying for this investment is the concern markets have at the moment, and also, as you guys have been talking about, Korean retail is very long these two stocks, and the Korean market is pulled back very aggressively from the nine thousand level.
Yeah, okay me more shares of Apple's supplies in Asia, they're also being hit hard because of this announcement around price hikes. It seems.
Yeah, TSMC is the biggest supplier to Apples and that's down around two percent, But there are bigger losses in names that produce components for other smartphone makers like Shawmi, Samsung and the like, and the thinking is that if Apple is struggling, the others must be struggling much worse. And those names are down limit down. So limit down in Taiwan is down ten percent, and you have names like media Tech and Yagio that are down limit down.
Now, Yeah, absolutely, what do you make then if this week and the volatility that we've seen over the course of this week and where we are now, I mean everything still a lot of things still do seem tohinge around every new development. When it comes to artificial intelligence.
Yeah, the technology is in flux, as you're very correctly highlighted, right, And we are caught in this cross current of this enormous spending from US hyperscalers and to a less ex than Chinese hyperscalers that's going into the semiconductor space. The logic of that spending and the trajectory of that spending seems to be determining stock price movements. So whenever you get a challenge to the logic or the profitability of
that spending, you continue to see these sharp downdrufs. So in the US, the hyperscillers have actually been on a Downdruft for a while now, they've been under performing the market overall, but the semiconductors have been strong enough to offset that. Now that dynamic could get challenged if there is a slowdown in onward purchasing. And one of the big things that is being debated is how binding are
these agreements to buy semiconductors. Now, that's a legal question that I can't answer, but that is definitely in focus.
Here 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 catches on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.