Today, there are two important global meetings happening at the same time. One is our two major conferences, where a series of goals for this year will be announced; the other is Trump's speech in Congress, detailing his plans moving forward. These two meetings have stirred the hearts of global investors, and so far, it all seems positive.
First, let's talk about the situation in the U.S., where they have started to intervene in the market. Last night, U.S. Treasury Secretary held a meeting with several institutional leaders and sent out positive signals to the market, finally stopping the decline of U.S. stocks.
However, the core issue is that Trump's speech today did not create any chaos. Although he talked about tariffs and other issues, he did not clarify or raise them. The market breathed a sigh of relief.
Trump also specifically mentioned the CHIPS Act, stating that he believes this act should be abolished. The CHIPS Act was signed by Biden, providing hundreds of billions of dollars in subsidies to U.S. chip companies for their development in the artificial intelligence sector, under the condition that these companies cannot cooperate with Chinese firms.