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00:00:00Welcome to the Caijing Frontline Weekly Report.
00:00:22I am Zhang Ning, and I will take you through a review of the week's major financial and economic events, giving you a grasp of the global economic
00:00:26situation. Let's start the program by focusing on this week's featured topics.
00:00:30In July, the Taiwan stock market plummeted by 2963 points in a single month. Despite
00:00:33the statistics showing that foreign capital and Chinese capital accumulated net sales of up to
00:00:371 trillion 488.495 billion yuan in the first 7 months of this year, setting a
00:00:40historical high for the same period. Also, Japan and the United States have officially joined forces
00:00:44to intervene in the exchange rate of the Japanese yen to prevent its continuous depreciation against the US dollar.
00:00:48In addition, we will be looking at SpaceX's financial report,
00:00:52where its second-quarter revenue almost doubled. However, the surge in AI capital
00:00:56by over 21 times has raised concerns among investors. We will also
00:01:00be paying attention to the announcement by the Taiwan Stock Exchange that it will implement several
00:01:04new measures starting from the 10th, including shortening the lock-up period for stored value stocks by 5 days,
00:01:07among three major changes. Lastly, we will be looking at the recent
00:01:11dual market trend in Taiwan stocks. Experts point out that the short-term trend of Taiwan stocks
00:01:15will shift to consolidation, and foreign capital's short positions are facing pressure to cover. Taiwan
00:01:19stocks retested the quarterly line on Thursday, and the bullish and bearish struggle has left short sellers squeezed. The dual
00:01:23market trend has attracted much attention. Foreign capital has covered cash positions, but futures short positions
00:01:27are still high, exceeding 80,000 contracts. Experts. AIAI, scattered,
00:02:21CPO and board, small and medium-sized stocks are relatively active, even lighting up the market,
00:03:06Entropy's
00:03:08IPO might attract a large amount of capital into the market and also affect the flow of chips.
00:03:15To observe the major stocks, the strength of the external force, and whether the volume has increased or not, the performance of the pressure zone above 45,000 points and whether there will be negative signals in September are all key points that investors need to pay close attention to. The overall investment return rate is 81%, and Taiwan is the largest investment location. This round of market support also created a new record for the Taiwan market.
00:04:14Helios with deployment of
00:05:35AI
00:05:35AI's global performance rose in the first half of the year, with all three financial industries seeing growth.
00:05:42In the first six months, cumulative pre-tax operating surplus reached 904.2 billion yuan,
00:05:46an annual increase of nearly 1.4 times, setting a new high for the same period in recent years. Looking
00:05:50ahead to the second half of the year, although market volatility may increase, experts still expect
00:05:54the financial industry's profit performance to be strong.
00:05:55.
00:05:59The trading activity in the Taiwan stock market soared in the first half of the year, becoming the core engine for the significant growth
00:06:03of profits in the three financial industries. Looking at the first half of the year, the total pre-tax profit
00:06:07of the combined industries surged to 904.2 billion yuan,
00:06:10an annual increase of nearly [unintelligible] compared to the same period last year. The weighted stocks of AI AI have driven this growth.
00:07:12Against the backdrop of active stock market trading, correct futures and investment management industries earned
00:07:16194.6 billion yuan. In addition, the insurance industry connected to IFRS
00:07:1917. With the stable promotion of the insurance contract
00:07:23service margin (CSM), profits reached over 3 billion yuan, simultaneously setting a new high for
00:07:27the same period in history. Further analysis of the profit composition shows that
00:07:31banks accounted for the highest share at 44%, with the insurance industry, securities, futures, and investment management industries following closely
00:07:35behind. In the third quarter, the stock market's long and short tug-of-war has drawn high market attention to whether
00:07:39the government's expanded intervention will further compress the financial sector in the second half of the year.
00:08:26Among them, the annual growth rate of import price index
00:08:35rose to
00:08:3628.9%.
00:09:44The latest July Consumer Price Index increased by 2.54% year-on-year. Although it is lower than
00:09:47June's 2.59%, it has been above
00:09:51the 2% inflation warning line for three consecutive months. If observed by individual items,
00:09:54a total of 288 items increased. Mid-market breakfasts, mid-market rice
00:09:58and noodle dishes, computers, household appliances, home management fees,
00:10:02and international travel tour fees all saw significant increases.
00:10:06Therefore, the public will feel the recent price increases
00:10:10more deeply. In other words, the price increases for items that people
00:10:14most frequently encounter in their daily lives are particularly obvious. The director-general of the statistics office further
00:10:18analyzed that in July, due to the increase in domestic oil prices, fuel costs rose significantly.
00:10:21Coupled with fuel surcharges, international air ticket prices were pushed up.
00:10:27In addition, rents and other expenses continued to rise, especially the year-on-year growth rate of food away from home
00:10:30once again exceeded 3%. Although overall inflation slightly cooled down,
00:10:34the public's wallets are still under great pressure.
00:10:38Taipei reporting. The founder and chairman of
00:10:42King Yuan Electronics, Huang Chung-jen, passed away on July 31st due to a heart attack,
00:10:45shocking all sectors. King Yuan Electronics' acting chairman, Hsieh Tsai-chu,
00:10:49and general manager, Chu Hsien-kuo, explained to the public on the 4th, stating that the company's
00:10:53future operational direction and
00:12:57our deepest remembrance and respect for this semiconductor giant. Reporter Hong Jing Lin Jia-hong, Taipei reporting.
00:13:01The chairman of King Yuan Electronics, Huang Chung-jen, passed away recently, and a memorial service
00:13:04opened on the 5th. Including Acer chairman Chen Chun-sheng, and
00:13:08former Shin Kong Financial Holdings chairman Wu Tung-chin, among others, all came to pay their respects. Many
00:13:12industry insiders also sent flower baskets, and the funeral committee
00:13:16even invited the founder of TSMC, Zhang Zhong-mou, to serve as the chairman.
00:13:19.
00:13:24Cao Cheng intends to find Zhang. After considering it, he decided to let
00:16:07The factor is that the market size for both US markets will become polarized in the second half of this year.
00:16:1123.08% and 4.73% and
00:17:07compared to the same period, both saw a significant decrease of over 4.5 times. Whether future cases
00:17:11can be successfully digested no longer depends solely on land conditions and themes
00:17:15and total price. Whether it can appeal to the buying group is also
00:17:18a major challenge. Reporter Deputy Doctor Fang Shaochan, Taipei Keelung financial interview report.
00:17:22US President Trump has issued new tariffs again. On the 6th, Trump
00:17:26signed a proclamation, citing national security concerns, to impose tariffs of 15% on
00:17:30various metals, as well as gold, solar panel components, and other related
00:17:34derivative products, and also set import prices.
00:18:07The US time is December 4th. On the 6th, Trump announced a proclamation, using Section 232 to impose
00:18:1115% tariffs on various metals and related derivative products, and also
00:18:15set import price floors.
00:18:16.
00:18:30Currently, China controls over 90% of global production, while the US only accounts for approximately
00:18:342%. In addition to tariffs and import price floors,
00:19:22We're having very good discussions, they don't like to admit that, but yeah, it's
00:19:26a little bit disconcerting, you tell
00:19:29people like you, we're having wonderful discussions and then some guy will
00:19:33come out of Iran say, we have not met, we have not since just
00:19:36sin. against
00:20:02the
00:20:02Iranians.
00:20:07"and now we are because of that we are in talks with the Iranians
00:20:11and I think there is a chance we may have deal today or
00:20:14tomorrow uh to uh open the
00:20:17straight and you move towards a more
00:20:21normalized position in this conflict
00:20:24The news immediately sent Brent crude below $80. However,
00:20:32CBS later simplified the large drug.
00:20:50virtually all of its global stock pile of long-range missiles,
00:20:54specifically army tactical missile systems and precision strike
00:20:57missiles in operation epic fury,
00:21:01so we have depleted reserves of offensive weapons, we were
00:21:04already talking and worrying about defensive interceptor shortages . entered the situation.
00:21:19.
00:21:51there's a turning point today. US Treasury Secretary Mnuchin recently pointed out that both sides are negotiating, hoping
00:21:55to reach an agreement to reopen the Strait of Hormuz. As soon as the news came out, the market
00:21:59was optimistic about the de-escalation of the Middle East situation. International oil prices both
00:22:03fell by over 5%, hitting a three-week low.
00:22:06Among them, Brent crude oil even fell below $80 per barrel.
00:22:10At the same time, the Organization of Petroleum Exporting Countries agreed to increase daily production
00:22:14by 188,000 barrels in September. The market expects that the increase in supply will further suppress
00:22:18oil prices. But analysis.
00:23:14there is still a high degree of uncertainty. Therefore, this decline in oil prices may only be a short-term reaction. With the sharp fall in oil prices, risk capital has flowed back
00:23:18to the gold market.
00:23:50There is imagination space for both gold and real estate.
00:24:16reached 11.54 billion US dollars, a new historical high, with earnings per share of 1.6 US dollars.
00:24:33CPU
00:24:33The market for technology continues to evolve.
00:24:38Customer demand for Venice is stronger than for any prior epic
00:24:41generation. Customer pull for helios is very strong and
00:24:45tracking ahead of our initial forecasts. In
00:24:48addition to our multi-generation. gigawatt scale deployments with open
00:24:52AI and meta. We announced a new strategic partnership with
00:24:55Anthropic. Anthropic will deploy up to two
00:24:59gigawatts of Mi 450 series GPUs in
00:25:04the first gigawatt beginning in the first half of 2027.
00:25:08Helius's new
00:25:10and NIS customers are very strong, reaching 15.4
00:25:18billion US dollars.
00:25:27taken together, we now expect data center segment revenue to more than
00:25:31double year over-year in 2027. demand for
00:25:34both accelerators and CPUs is growing well above our prior
00:25:38expectations. we now expect the data center AI
00:25:42accelerator market to grow more than 45% annually to
00:25:46approximately 1.4 trillion by 2030.
00:25:49so... AI's performance is beyond doubt, but the personal computer
00:25:53business .
00:25:56The market will decline in the second half of the year, which is also reflected in the financial forecast. It is estimated that the third quarter's revenue will be around 13.3 billion US dollars.
00:26:00弱 在 1330 亿 美 元 。
00:26:43Wei Chuang stated that AI
00:26:46brings growth momentum, and the momentum in the second half of the year is still very strong. With new customers joining and existing customers'
00:26:50purchasing power not slowing down, even if memory and other components rise in price,
00:26:53there is still a chance for the second half of the year to perform better than the first half.
00:26:57Therefore, it plans to issue GDRs to raise
00:27:0045 billion yuan. To keep the AI momentum
00:27:04hot.
00:27:32The layout in the United States. Up and down hills, cars shuttling through the city, appearing before our eyes, rules and dramas are all within this ten-thousand-square-meter ecosystem with the Golden Gate Bridge.
00:27:49Open Air Anthropic Perplexity
00:27:52AI, built south of a freeway in San Francisco, is the Silicon Valley giant Fidia.
00:27:59AMD and other Taiwanese
00:28:02Because of AI, Taiwan is becoming more frequent, and what connects the two places is not only technological strength, but also delicious food, which has become the best symbol.
00:28:16. On one side is the tech experience and culture, on the other side, Taiwanese breakfast, with rice balls larger than a fist, also has many followers on social media.
00:29:32companies are going to the US together. During the US period, 85°C's
00:29:36US stores have expanded to 95, and it is estimated
00:29:40that by the end of the year, it is expected to exceed 100. After Watsons opened its first
00:29:43store in the US, it also plans to launch two more
00:29:47brands in the third quarter, continuing to expand its US market presence.
00:29:51As for Bafang Yunji, it currently has 16 stores in the US,
00:29:55with a goal of expanding to 20 this year.
00:29:59From the current data of California stores,