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Real-time News
The Hang Seng Tech Index fell by more than 1%, with star tech stocks leading the decline. Baidu (09888.HK) and Kuaishou (01024.HK) both fell by more than 4%.On Monday afternoon, SpaceX CFO Johnson assured about a conference call with about 100 SpaceX investors that the deal would not delay the IPO.On February 3rd, the combined market capitalization of South Koreas two largest companies—Samsung Electronics and SK Hynix—reached $1.11 trillion in Tuesdays trading. This milestone serves as a reminder that the AI investment boom has shifted to the infrastructure sector, benefiting South Korean chipmakers at the heart of the industrys supply chain. South Korea has positioned itself as a core supplier to global industry leaders such as Nvidia. Yiping Liao, portfolio manager at Franklin Templeton Global Investments, stated, "South Korea is highly concentrated in specific segments of the technology supply chain, and the astonishing surge in Hynix and Samsungs stock prices appears to be due to an unprecedented shortage of memory chips." Simon Woo, head of South Korea research at Bank of America Global Research in Seoul, predicts the memory chip supercycle will continue until 2027, stating, "Memory chips have become a key strategic asset for US tech giants, a stark contrast to earlier cycles when memory was merely seen as a disposable component for PCs and smartphones. This shift elevates the status of the memory industry." Timothy Moe, chief Asia-Pacific equity strategist at Goldman Sachs, expects the semiconductor industry to contribute approximately 60% of South Korean stock earnings growth this year.February 3rd - The Fourth Session of the 16th Shanghai Municipal Peoples Congress opened on the morning of February 3rd at the Shanghai World Expo Center. Shanghai Mayor Gong Zheng delivered the "Government Work Report." The report stated that Shanghai will intensify its efforts to implement policies supporting enterprises in stabilizing and expanding employment, and promoting entrepreneurship to drive job creation. It will also strengthen employment assistance for key groups such as college graduates and those facing employment difficulties, aiming to create over 600,000 new urban jobs. The report also outlines the exploration of a mechanism to assess and address the impact of artificial intelligence technology applications on employment.February 3rd - The Fourth Session of the 16th Shanghai Municipal Peoples Congress opened on the morning of February 3rd at the Shanghai World Expo Center. Shanghai Mayor Gong Zheng delivered the "Government Work Report." The report revealed that Shanghai will optimize its fertility support policies and incentive measures this year. A new round of child-friendly city construction initiatives will be launched, the overall quality of kindergartens will be improved, and inclusive childcare and integrated childcare services will be vigorously developed.
