Mind-reading the market: Hong Kong’s Amareos claims to offer investors an edge by analysing news articles and social media
Start-up uses artificial intelligence to process millions of documents from last 24 hours and paint a picture of how the market you are interested in is thinking
A financial technology start-up in Hong Kong has developed a tool to analyse millions of news articles and social media posts in a matter of seconds so that investors can see the psychological state of the market.
Amareos visualises market sentiment by analysing up to two million published articles to give the market sentiment of major stock indices, commodities, currencies and views on individual countries.
“What we’ve done is combine all of this using artificial intelligence to be able to digest in a day everything written in the past 24 hours and to provide that with visualisation tools into the simple market sentiment updates,” said Philippe El-Asmar, co-founder of Amareos.
The company is among a growing number of fintech start-ups offering investors a way to easily monitor the thousands of articles related to various markets and social media postings using artificial intelligence. They can then use the information to make prudent trades.
Amareos has partnered with Thomson Reuters to provide its analysis on the company’s Eikon platform. In 2014, Thomson Reuters added sentiment analysis of Twitter to Eikon.