Jin Tou Wang·2025-12-31 03:07Group 1: Semiconductor Industry Developments - Samsung and SK Hynix have received U.S. approval to continue exporting chip manufacturing equipment to China until 2026, allowing them to maintain operations in China [3] - The Trump administration has approved NVIDIA to sell H200 AI chips to China, with a 25% revenue share from these exports, a model that will extend to other U.S. companies like AMD and Intel [3] - NVIDIA's CEO Jensen Huang indicated that export restrictions have led to stagnation in sales in China, with potential zero sales in the upcoming two quarters, risking market share loss to competitors [3] Group 2: Semiconductor Supply Chain Roles - The three major companies—NVIDIA, SK Hynix, and Samsung—play distinct roles in the global semiconductor supply chain, with NVIDIA focusing on GPU and AI chip design, SK Hynix supplying high-bandwidth memory, and Samsung providing comprehensive solutions [3] - Huang emphasized the irreplaceable value of Korean companies in the development of next-generation memory like HBM4 and HBM5 [3] Group 3: Gold Futures Market Analysis - COMEX gold futures are currently trading at $4340.5 per ounce, showing a narrow trading range between $4316 and $4404, indicating a lack of clear direction in the market [4] - Key resistance levels for gold are identified at $4400 and $4433, while support levels are at $4316 and $4300, with a potential drop to $4200 if the latter is breached [5] - The market is experiencing a reduction in speculative net long positions, with the long position percentage dropping from 81%, reflecting ongoing profit-taking pressure [5]