来源：格隆汇APP 格隆汇8月1日｜台湾加权指数收盘下跌108.14点，跌幅0.46%，报23434.38点。台积电(2330.TW)收跌 1.72%，报1140元新台币。 ...

来源：格隆汇APP 格隆汇7月31日丨台湾加权指数收盘上涨80.8点，涨幅0.34%，报23542.52点。台积电(2330.TW)收涨 0.43%，报1160元新台币。 ...

台湾证交所加权股价指数收涨0.3%，至23,542.52点，至2月24日以来最高收盘水平。台积电上涨0.4%。 ...

Core Insights - Samsung Electronics' stock surged by 5.54% following a significant contract with Tesla worth 22.8 trillion KRW (approximately 118.3 billion RMB) for chip manufacturing, marking a pivotal moment for the company in the competitive semiconductor market [1][3] - The contract is expected to account for 7.6% of Samsung's revenue in 2024 and is seen as a crucial opportunity for the company to recover from recent struggles in the foundry market, where it has lost market share to TSMC [1][3] - Elon Musk's personal involvement in overseeing production efficiency highlights the strategic importance of AI chips for Tesla's future ambitions, including autonomous driving and robotics [5][8] Company and Industry Summary - The contract with Tesla is set to last until the end of 2033, with Samsung initially producing A14/AI4 chips, while the next-generation AI6 chips will be manufactured at a new facility in Texas [1][3] - TSMC currently dominates the foundry market with a 67.6% share, while Samsung's share has decreased from 8.1% to 7.7%, indicating a challenging environment for Samsung in securing major clients [3] - The Texas facility has faced delays, originally scheduled for completion in April 2023 but now pushed back to October 2023, with rumors suggesting it could be delayed until 2027 [3] - Analysts predict that this contract could increase Samsung's foundry sales by 10% and attract additional partnerships with other chip design companies [3][9] - Musk's plans for a $12 billion debt financing for chip procurement and data center construction further emphasize the critical role of hardware supply in Tesla's growth strategy [5][9] - The evolving political landscape, particularly Trump's changing stance towards Musk and Tesla, reflects the intertwined nature of business interests and government relations in the tech and automotive sectors [8][9]

Core Viewpoint - The Federal Reserve decided to maintain the benchmark interest rate unchanged, with notable internal dissent among board members, marking the first time since 1993 that multiple members voted against the decision [2][4]. Group 1: Federal Reserve Decision - The Federal Open Market Committee voted 9-2 to keep the federal funds rate target range at 4.25% to 4.5%, marking the fifth consecutive meeting without a rate change since January [4]. - Board members Michelle Bowman and Christopher Waller opposed the decision, advocating for an immediate rate cut, highlighting significant internal disagreement [4]. Group 2: Market Reactions - Following the announcement, U.S. stock indices experienced a sharp decline, with the Dow Jones Industrial Average falling by 0.38%, the S&P 500 down by 0.12%, while the Nasdaq Composite rose by 0.15% [5][6]. - The closing figures for the indices were: Dow Jones at 44,461.28, Nasdaq at 21,129.67, and S&P 500 at 6,362.90 [7]. Group 3: Economic Outlook - Federal Reserve Chairman Jerome Powell stated that no decisions have been made regarding the September meeting, emphasizing the need to evaluate the latest economic data and trade policy impacts [10]. - The market's expectations for a rate cut in September decreased, with the probability of a 25 basis point cut dropping from 64% to 46% [10]. Group 4: Economic Indicators - Powell noted that while the U.S. economy remains generally robust, recent data indicates a slowdown in economic activity, primarily due to reduced consumer spending [13][14]. - Inflation rates have significantly decreased since mid-2022 but remain slightly above the long-term target of 2%, with the overall Personal Consumption Expenditures (PCE) price index rising by 2.5% over the past 12 months [14]. Group 5: Gold Market Impact - The decision by the Federal Reserve and Powell's comments led to a significant drop in gold prices, which fell by over 1.5% [15][16]. Group 6: Microsoft Performance - Microsoft reported better-than-expected earnings and revenue, with a market capitalization surpassing $4 trillion, making it the second company to achieve this milestone after Nvidia [18][21]. - For the fourth fiscal quarter, Microsoft’s revenue increased by 18% year-over-year to $64.7 billion, marking the fastest growth in over three years [23]. - Azure revenue grew by 39% in the fourth quarter, exceeding analyst expectations, with projections for Azure and other cloud services to exceed $75 billion in fiscal year 2025, a 34% increase from the previous fiscal year [23].

Core Viewpoint - The U.S. stock market is experiencing a significant surge in performance driven by strong earnings reports and positive economic data, indicating robust economic growth and potential investment opportunities. Group 1: Stock Market Performance - Major U.S. stock indices showed slight gains ahead of the Federal Reserve's interest rate decision, with notable increases in high-performing stocks like LendingClub and Wingstop, which surged over 31% and 29% respectively [2][8]. - The overall performance of the stock market is characterized by a broad rally among high-performing stocks, with significant gains reported across various sectors [8]. Group 2: Economic Data - The U.S. Bureau of Economic Analysis (BEA) reported a preliminary estimate of a 3.0% year-over-year growth rate in real GDP for Q2 2025, significantly exceeding market expectations of 2.6% [3][15]. - The second quarter's GDP growth not only reversed the previous quarter's contraction of -0.5% but also reflects strong consumer spending and a notable decline in imports [16]. Group 3: Company Earnings Reports - Wingstop reported a substantial increase in adjusted earnings per share, leading to a stock price surge to its highest level since 2022 [8]. - LendingClub's earnings report showed revenue and earnings per share exceeding expectations, with strong guidance for Q3 performance [8]. - Teradyne, a semiconductor testing equipment manufacturer, also saw its stock rise over 22% following a strong earnings report [8]. Group 4: Upcoming Earnings and Analyst Expectations - Upcoming earnings reports from major companies like Microsoft, Meta, Apple, and Amazon are anticipated to influence market trends, with analysts projecting strong revenue growth for Apple and Amazon [10][12]. - Analysts expect Microsoft's earnings to reflect its leadership in AI and robust core business growth, suggesting a favorable risk-reward profile [11].

Core Viewpoint - Nvidia's stock price increased by over 1%, reaching a high of $177.68, following an upgrade from Morgan Stanley, which raised the target price from $170 to $200 while maintaining an "overweight" rating [1] Group 1: Stock Performance - Nvidia's stock rose more than 1%, peaking at $177.68 [1] Group 2: Analyst Upgrade - Morgan Stanley upgraded Nvidia's target price from $170 to $200 and maintained an "overweight" rating [1] Group 3: Demand and Orders - Nvidia placed an order for 300,000 H20 AI chips with TSMC last week to meet the growing demand in the Chinese market [1]

Core Viewpoint - Oriental Harbor Investment Fund, managed by Dan Bin, reported a significant increase in its US stock holdings, reaching a total market value of $1.127 billion by the end of Q2 2025, with Nvidia remaining the largest position [2][3]. Group 1: Holdings Overview - As of the end of Q2 2025, the fund held 13 US stocks, with a total market value of $1.127 billion, up from $868 million at the end of Q1 [2]. - The top holdings include Nvidia, Alphabet, Meta, Microsoft, Amazon, Apple, Tesla, and Netflix, indicating a strong focus on the artificial intelligence industry [3]. Group 2: Major Stock Changes - Nvidia remains the largest holding with 1,267,651 shares valued at over $200 million, despite a reduction of 110,769 shares from the previous quarter [4]. - The fund increased its position in Alphabet to 921,482 shares, valued at $163.46 million, reflecting a 267,164 share increase [4][7]. - New positions were established in Tesla (198,192 shares valued at $62.96 million), Netflix (42,760 shares valued at $57.26 million), and Coinbase Global (156,865 shares valued at $54.98 million) [9]. Group 3: Reductions in Holdings - The fund significantly reduced its holdings in Amazon to 359,165 shares, valued at $78.80 million, following a volatile stock performance [11]. - Reductions were also noted in positions for Meta, Microsoft, and Apple, with Apple holdings decreasing to 338,432 shares valued at $69.44 million [13].

港股全天承压下挫，其中，恒科指表现最差，午后一度跌超3%，恒指及国指则均跌超1%。截止收盘， 恒生指数跌1.36%或347.52点，报25176.93点，全日成交额为3196.52亿港元；恒生国企指数跌1.18%，报 9038.27点；恒生科技指数跌2.72%，报5490.76点。 光大证券认为，港股整体盈利能力相对较强，同时互联网、新消费、创新药等资产相对稀缺，结合当前 估值仍偏低，长期配置性价比仍较高。近期恒生指数已经突破了前期高点，上涨阻力较小，在国内稳增 长政策的持续发力下，港股市场未来或许将继续震荡上行。 蓝筹股表现 理想汽车-W(02015)领跌蓝筹。截至收盘，跌12.84%，报104.5港元，成交额72.83亿港元，拖累恒指 33.77点。7月29日晚，理想首款纯电SUV——理想i8正式发布。i8定位中大型豪华家用市场，主要竞争 对手包括问界M9纯电动版、特斯拉Model X和蔚来ES8等车型。理想i8共推出3款配置车型，官方指导价 32.18万至36.98万元，低于此前公布的35万元至40万元预售价格。据悉，理想i8将在今年8月20日开启交 付。 其他蓝筹股方面，中石油(00857)涨3.85 ...

但斌执掌的东方港湾美股持仓近日曝光。 美国证券交易委员会（SEC）披露的13F报告显示，截至二季度末，东方港湾海外基金"Oriental Harbor Investment Fund"（简称"东方港湾海外"）共持有13 只美股标的，市值总计11.27亿美元，相比一季度末显著增长。 从调仓动作来看，东方港湾海外二季度大手笔加仓了谷歌，并新进买入特斯拉、奈飞公司和数字货币交易平台Coinbase。但斌在交流会中曾表示，人工智 能并非短期浪潮，而是一场重大技术革命，相关机会值得重点布局和把握。 谷歌母公司Alphabet的CEO在财报中强调："AI在正向影响公司业务的每个部分，推动公司强劲发展。"具体来看，该公司搜索业务通过AI Overviews与AI Mode等新功能实现了双位数增长，YouTube Shorts在多个国家的单小时收益已追平传统视频，展现出广告变现的新潜力。 谷歌成第一大重仓股 SEC官网显示，截至二季度末，东方港湾海外持仓的前五大重仓股为英伟达、谷歌母公司ALPHABET、BANK MONTREAL MEDIUM、PROSHARES TR 和META。 | | | 东方港湾海外前五大重仓股 | ...