<p>Good morning! A beautiful day starts with making money.</p>
<h3>Important Events and Data This Week: China and US PMI</h3>
<p>Tuesday: China's official manufacturing PMI for December, US October FHFA house price index month-on-month and S&amp;P/CS 20-city unadjusted house price index year-on-year; due to the New Year's Day holiday, financial markets in many parts of the world will gradually enter holiday mode; the upgraded new China Free Trade Agreement comes into effect; train tickets for the first day of China's Spring Festival travel rush go on sale.</p>
<p>Wednesday: Nine countries officially become partner countries of the BRICS; Ukraine stops the transit of Russian natural gas; the US imposes 301 tariffs on products such as polysilicon from China; the retirement reform in mainland China is launched.</p>
<p>Thursday: China's Caixin manufacturing PMI for December, US initial jobless claims, US November construction spending month-on-month; the US decision to ban investments in China's semiconductor, AI, and quantum sectors comes into effect.</p>
<p>Friday: US December ISM manufacturing PMI; South Korea's Constitutional Court holds the second hearing on the impeachment case against Yoon Suk-yeol.</p>
<p>Last week, the Dow Jones rose 0.35%, the S&amp;P 500 rose 0.67%, and the Nasdaq rose 0.76%. The Hong Kong Hang Seng Index rose 1.87%; the Hang Seng Tech Index rose 2.12%; the Hang Seng China Enterprises Index rose 2.26%.</p>
<h3>The &#34;Seven Tech Giants&#34; Have Shown Strong Overall Performance This Year, But There Is Significant Divergence</h3>
<p>As of the close on December 27, NVIDIA led the &#34;Seven Giants&#34; with an increase of about 177%, while Microsoft only rose over 15%, with a cumulative increase difference of more than 160 percentage points between the two. Looking ahead to 2025, some international investment banks continue to be optimistic about the performance of tech giants, which may indicate that the US tech bull market is about to enter its third year.</p>
<h3>Media: NVIDIA Will Launch the Latest Generation of Compact Computers for Humanoid Robots in the First Half of 2025</h3>
<h3>Buffett's Berkshire Again Increases Stake in Domain Registrar VeriSign, Becoming the Largest Single Shareholder</h3>
<p>Berkshire Hathaway increased its stake in internet infrastructure service company VeriSign by $28.55 million, acquiring 143,424 shares over three trading days ending on the 24th. Berkshire now holds 13.7% of the company's outstanding shares, valued at nearly $2.7 billion. Media reports suggest that the reason for the holding may be its high ranking in various profitability metrics among S&amp;P 500 constituent companies.</p>
<h3>Li Auto Founder Li Xiang: We Will 100% Make Robots, But Not Now</h3>
<p>Li Xiang stated that if we can't even solve the problem of L4 level autonomous vehicles, how can we tackle more complex issues? If the car can't be realized, other artificial intelligence robots are very limited.</p>
<h3>Trump Asks the US Supreme Court to Suspend the Enforcement of the TikTok Forced Sale Order</h3>
<p>Trump stated that he hopes the court will give him time to resolve this dispute through political means after he officially takes office on January 20 next year. The US Supreme Court will debate this case on January 10, allowing the court to make a ruling on the issue before the law takes effect on January 19.</p>
<h3>SpaceX Plans 144 Launches This Year, Having Completed 133</h3>
<p>SpaceX has completed 133 launches in 2024, falling short of the company's annual target set at the beginning of the year by 11 launches. In 2023, SpaceX successfully completed 96 launch missions.</p>
<h3>Tianfeng Securities: Trump's policies may further drive up inflation</h3>
<p>On one hand, tax increases could raise core commodity prices by about 10%, primarily affecting the tradable sector. However, the current inflation issue in the United States is mainly concentrated in the non-tradable sector, which cannot be resolved by imposing tariffs. On the other hand, Trump will continue to restrict immigration, which will put pressure on inflation in the non-tradable sector, especially on wages in low-skilled service industries, further exacerbating inflation and stagflation issues in the United States.</p>
<h3>Financial Secretary of the Hong Kong SAR Government, Paul Chan: Hong Kong's economic growth is expected to be 2.5% in 2024</h3>
<p>Paul Chan stated that Hong Kong's economic growth for the entire year of 2024 is expected to be 2.5%, with the unemployment rate remaining low, moderate inflation, and a real increase in citizens' income.</p>
<h3>Governor of the People's Bank of China, Pan Gongsheng: There is still room for a decrease in the reserve requirement ratio</h3>
<p>The average reserve requirement ratio in the banking sector is about 6.6%, which still has some room compared to the central banks of major economies internationally. It is necessary to strengthen the intensity of monetary policy regulation and improve the precision of monetary policy control.</p>
<h3>Jeju Air aircraft incident occurs just one day after a Boeing aircraft experiences landing gear failure</h3>
<p>After a Boeing 737 aircraft from Jeju Air landed off the runway and exploded at Wusan Airport on December 29, another Boeing 737 of the same model from Jeju Air experienced abnormal landing gear failure shortly after takeoff on the morning of the 30th and had to return. The aircraft model was also a Boeing 737-800.</p>
<p>Boeing stated: &#34;We are in contact with Jeju Air regarding flight 2216 and are ready to provide support. We extend our deepest condolences to the families who have lost loved ones, and we are always concerned about the passengers and crew.&#34;</p>
<p>On the evening of December 28 local time, a Boeing 737-800 aircraft from KLM Royal Dutch Airlines experienced a hydraulic failure shortly after takeoff and subsequently diverted for landing, with no reports of casualties.</p>
<h3>China's domestic large model DeepSeek is globally popular, and 95 post-90s AI &#34;genius girl&#34; Luo Fuli has switched to Xiaomi</h3>
<p>Luo Fuli was involved in the development of DeepSeek-V2 at DeepSeek and was one of the key developers of this model. A few days before the release of DeepSeek-V3, media reports indicated that Xiaomi founder Lei Jun offered a salary of tens of millions to recruit Luo Fuli, who will work at Xiaomi AI Lab, leading the large model team</p>

BRK.B

BRK.A

VRSN

NVDA

01810

02015

MSFT

<p>Since the beginning of this year, the overall performance of the "Seven Tech Giants" has been strong, with Microsoft rising over 15%. Media reports indicate that NVIDIA will launch the latest generation of compact computers for humanoid robots in the first half of 2025. Berkshire Hathaway has increased its stake in VeriSign again, becoming the largest single shareholder. Li Xiang, founder of Li Auto, stated that they will definitely make robots, but not now. Pan Gongsheng, governor of the People's Bank of China, stated that there is still room for a reduction in the reserve requirement ratio. Trump has requested the U.S. Supreme Court to suspend the enforcement of the TikTok forced sale order</p>

- This week features significant economic events and data, including China's December official manufacturing PMI and the U.S. FHFA house price index.  
- Key developments include the implementation of an upgraded China-New Zealand free trade agreement and the start of China's Spring Festival travel rush.  
- Additionally, the U.S. will enforce tariffs on Chinese polysilicon products, and several countries will officially join the BRICS partnership.

LB Select

Berkshire Hathaway B

Berkshire Hathaway

VeriSign

NVIDIA

XIAOMI-W

Boeing

Li Auto

LI AUTO-W

Microsoft

TBEA

iShares Semiconductor ETF

Direxion Semicon Bull 3X

GCL TECH

Tongwei Co.,Ltd

Daqo Energy

Direxion Semicon Bear 3X

ASML

XINTE ENERGY

Semiconductor

Breakfast | NVIDIA leads the "Seven Giants" with an increase of about 177% this year, while Berkshire Hathaway increases its bet on VeriSign