$NVIDIA(NVDA.US) Woke up to find NVIDIA, the leading AI company, regaining its position as the world's most valuable company! The Nasdaq led the gains, hitting new highs again! U.S. stocks closed higher across the board, with tech stocks leading the charge. Given the correlation between U.S. and A-share tech stocks, focus on AI tech and semiconductor opportunities in A-shares today.

The resilience of U.S. stocks is remarkable. At this pace, the market could hit new all-time highs by June. U.S. stocks are characterized by rapid declines and swift recoveries. Short-term volatility presents opportunities, while the long-term trend remains a slow bull market with new highs. A steady bull market with continuous new highs is the norm for global equities.

Since Trump took office last year, global financial markets have experienced significant volatility, largely due to his policy statements—especially the epic swings at the start of the year. However, the market is now becoming immune to Trump. Recently, he signed new tariffs on steel and aluminum, while the OECD downgraded U.S. economic growth forecasts and raised inflation expectations.

Slowing economic growth affects fundamentals, while rising inflation impacts liquidity and the pace of rate cuts. Despite these headwinds, U.S. stocks are climbing, indicating that the market is more concerned about Trump's impact on confidence and sentiment than other factors.

In trading, the rise in U.S. stocks, particularly tech and AI stocks, is a positive catalyst for A-share tech themes. A-shares are experiencing sector rotation—yesterday banks surged, and today tech themes are expected to take the lead. Focus on low-position rotation in AI tech and semiconductors.