Bloomberg Daybreak: Asia Edition

Business and finance news from the Asia-Pacific.

Microsoft Corp. climbed almost 9% in extended trading after reporting its fastest cloud-computing growth in four years. Samsung Electronics Co. rose over 1% after chip profit soared over 250-fold. Meta Platforms Inc., however, fell over 7% in post-market trading following a disappointing revenue forecast for the current year. For more analysis, we spoke to MS Hwang, Research Director at Counterpoint Research.

Plus - Federal Reserve Chairman Kevin Warsh has said the decision to leave interest rates unchanged wasn't a sign of inertia at the central bank, which is committed to tackling inflation. Brown University Professor of International Economics Sebnem Kalemli-Ozcan breaks down how markets are interpreting the signals. She spoke to Bloomberg TV host Haidi Stroud-Watts.

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Listen for instant reaction and analysis of megacap tech earnings from Meta, Microsoft and Qualcomm.
Meta Platforms gave a disappointing revenue forecast for the current quarter, intensifying investor concerns about the social media giant’s unprecedented spending on artificial intelligence and sending shares lower afterhours. Microsoft’s cloud unit grew at the fastest pace in four years, suggesting that the company’s computing infrastructure and artificial intelligence services continue to make inroads with businesses. Shares of Microsoft rose in extended trading. Qualcomm, the largest maker of smartphone processors, gave a weak profit forecast for the current quarter, signaling that component shortages and rising costs are taking a toll on its main market. The company’s stock fell afterhours.
To break down all of this, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Ed Ludlow, Host, Bloomberg Tech
Mandeep Singh, Global Head of Technology Research, Bloomberg Intelligence
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Business and finance news from the Asia-Pacific.
SK Hynix Inc. earmarked at least $31 billion in capital spending this year after reporting a six-fold surge in quarterly profit, a record outlay that coincides with growing fears about overinvestment in AI capacity. SK Hynix said it expects its capital investments to rise around 50% to at least 45 trillion won ($31 billion). It posted margins of more than 80% for the June quarter — a high watermark — because of the endemic memory shortages that have helped raise prices it charges customers like Apple Inc. and Nintendo Co. Yet the Korean company's shares fell 11% in Seoul Wednesday, reflecting both the sky-high expectations that surround the AI industry's linchpins and the growing concerns that big tech firms such as Meta Platforms Inc. are building more data centers than they need. Korea's benchmark KOSPI fell for a second straight day. We speak to Winnie Hsu, Bloomberg's Asia Equities Reporter.
And for more analysis on SK Hynix earnings, Bloomberg TV hosts Yvonne Man and David Ingles spoke to SK Kim, Senior Analyst at Daiwa Capital Market Korea.
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Business and finance news from the Asia-Pacific.
A selloff in global semiconductor stocks deepened, as investor sentiment continued to worsen over the sustainability of the artificial intelligence boom. The losses point to deepening concerns over crowded equity positioning and rising corporate debt levels as the AI buildout progresses, with Nvidia Corp.'s fresh round of deals and technological advances from Chinese peers adding pressure. We speak to Lauren Cassidy, Founder & Chief Investment Officer of Founder ETFs.
Plus - Oil extended a steep decline after President Donald Trump said that the US and Iran were engaged in talks to try to end the Middle East conflict, with the two sides continuing to hold off on attacks. Bloomberg TV host Haidi Stroud-Watts spoke to S​​ara Vakhshouri, SVB Energy International Founder and President.
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Business and finance news from the Asia-Pacific.
Oil dropped, stocks and bonds rose as the US and Iran refrained from retaliatory strikes, easing concerns over potential disruptions to Middle East energy supplies after a recent escalation in the conflict.
Three days of Group-of-Seven central bank decisions begin with the Fed on Wednesday, followed by the Bank of England and the Bank of Japan. While no changes are expected in interest rate policy, officials are likely to emphasize vigilance over the inflationary impact of higher energy prices. Bloomberg TV host Haidi Stroud-Watts spoke to Diana Mousina, Deputy Chief Economist at AMP.
Plus - Investors are looking to Monday's trading debut of CXMT Corp. to help renew a rally in Chinese semiconductor stocks that has been on pause ahead of the memory giant's initial public offering. The chip-heavy Star 50 Index fell into a bear market this month as funds repositioned for the IPO, which values CXMT at $86 billion, making it China's largest-ever chip offering. Still, the valuation at about one‑tenth that of larger rival SK Hynix Inc. is seen leaving ample room for CXMT to run. It's expected to perform well given an IPO that was hundreds of times oversubscribed and that listings on the STAR Board face no daily percentage limit for the first five trading sessions. Given CXMT's heavy state backing as a key component of China's drive for tech self-sufficiency, a big jump could provide a halo effect for other local chip stocks. Bloomberg TV host Haidi Stroud-Watts spoke to Rolf Bulk, Head of Semiconductors & Infrastructure at Futurum Equities.
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