Hua Er Jie Jian Wen·2025-04-13 22:53Market Overview - The S&P 500 index rose by 5.7% for the week, marking its largest weekly gain in 2023, while the Nasdaq increased by over 7% [2] - Apple shares rose by over 4%, and Nvidia saw a weekly increase of nearly 18% [2] - Chinese stocks showed a near 2% increase in the China concept index, with Alibaba rising over 3% [2] Trade and Tariff Developments - The U.S. Commerce Department announced exemptions for certain products from "reciprocal tariffs," including computers, smartphones, and semiconductor manufacturing equipment [12][13] - Analysts suggest that without these exemptions, the U.S. tech industry could face significant setbacks [13] - The exemptions are seen as a small step in correcting the unilateral tariff policies of the U.S. government [12][11] Semiconductor and Technology Sector - The semiconductor industry is facing potential new tariffs, which could be implemented in the coming months, affecting products that were recently exempted [13] - The Chinese government is responding to U.S. tariffs by implementing new regulations on chip imports, which may disrupt U.S. chip manufacturing strategies [14] Economic Indicators - China's social financing increased by 5.89 trillion yuan in March, with new RMB loans amounting to 3.64 trillion yuan [15] - The M2-M1 gap has narrowed, indicating changes in liquidity conditions [15] Industry Insights - The semiconductor equipment sector is highlighted as having significant domestic replacement potential due to high market share of U.S. firms [23] - The scientific instruments sector is expected to see increased demand for domestic products as tariffs raise import costs [23] - The consumer sector, particularly food and beverage, is showing defensive characteristics amid rising external uncertainties [23]