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Glonghui, February 10th｜According to the Financial Times, Trump intends to exempt companies such as Amazon, Google, and Microsoft from the upcoming tariffs on chips, as these companies are competing to build data centers that power the artificial intelligence boom. Sources revealed that the U.S. Department of Commerce plans to offer tariff exemptions to American hyperscale data center operators, and this will be linked to TSMC's investment commitments. This exemption plan highlights President Trump's determination to impose tariffs on chips and incentivize domestic chip manufacturing in the U.S., while also providing some assistance to companies that heavily rely on imported semiconductors and are driving the rapid development of artificial intelligence in the U.S. A government official familiar with the plan cautiously stated that these plans are still evolving and have not yet been signed by the president.

Glonghui, February 10th｜Fund managers say that despite the South Korean stock market experiencing a sharp rebound with a market capitalization growth of $1.7 trillion, it has not fully eliminated its long-standing discount relative to its peers, and profit growth provides a reason for this world-leading rally to continue. Asset management company Jupiter believes that although valuations have improved, they are still barely keeping pace with profit forecasts. Sam Konrad, an investment manager at the company, said: "Samsung Electronics has performed very strongly recently, but its price-to-earnings ratio remains very low. If they can allocate a higher proportion of earnings to dividends, the stock may be re-rated." South Korea bulls expect the rally to continue as corporate governance reforms accelerate, with the next possible move being to mandate the cancellation of treasury shares through amendments to commercial law.

Gelonghui, February 10th | The head of Tesla's North American sales is about to leave the electric vehicle manufacturer, which is currently facing declining demand in key global markets. Raj Jegannathan, Tesla's vice president appointed last year to oversee sales in the region, posted on LinkedIn that he will be parting ways with the company. He is the latest senior executive to depart from the electric vehicle manufacturer led by Musk. Amid two consecutive years of declining vehicle deliveries, Tesla's sales department has undergone significant personnel changes.