TSM Q4 rev. seen >NT$1 tn; GOOGL integrates Gemini into Gmail | Daily News Recap

0109 ｜Dolphin Research Focus:

🐬 Macro / Sector

1. HKEX will add six new stock options on Jan 19, covering Zijin International Gold, Lao Feng Xiang Gold, and Horizon Robotics, further broadening derivatives choices. This gives investors more risk-management tools and should lift liquidity in the underlying names.

🐬 Single Stocks

1.$Taiwan Semiconductor(TSM.US)

TSMC reported Dec. revenue of TWD 335.03 bn, down 2.5% MoM but up 20.4% YoY. For 2025 YTD, revenue rose 31.6% YoY, and based on monthly data, Q4 revenue topped TWD 1 tn for the first time.Growth was driven by AI chips and iPhone 17-related orders. Strong AI demand offset consumer electronics volatility, underscoring its central industry position and easing fears of an AI bubble. TSMC will release full results on Jan 15 with updated guidance.

2.$JD.com(JD.US) $JD-SW(09618.HK)

JD's European retail platform Joybuy has begun pilot operations in six countries including the U.K., Germany, and France. It is replicating a full first-party model, leveraging local supply chains to offer same-day/next-day delivery across 3C, beauty, and other categories, targeting mid-to-high-end consumers.This marks JD’s Europe build-out taking shape, with differentiated delivery aligned to local demand.

3.$Alphabet(GOOGL.US)

Google is bringing more Gemini features to Gmail, including thread summaries, smart replies, and event creation, with data pulled across Google Drive and Calendar. The features are English-only for now and require subscription to the relevant AI plans.AI should meaningfully improve email productivity and deepen collaboration across Google Workspace. However, the paywall and limited language support may cap near-term adoption, requiring iteration and broader use cases to drive penetration.

🐬 Top Gainers by Sector

A-shares: Internet content & info, healthcare IT services, cloud & data centers.

HK: System software, office services & supplies, insurance brokers.

US: Ag machinery, industrial chemicals, kitchenware.

🐬 Watch for Tomorrow

1. None for now. No scheduled items.

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