TSM revenue growth eases concerns; Horizon Robotics starts buyback | Daily News Recap

0410 ｜Dolphin Focus:

🐬 Macro / Sector

1. The HKMA is expected to release the first batch of stablecoin issuer 'sandbox' applicants at 17:00 on Apr 10. The initiative aims to establish a regulated fiat‑backed stablecoin framework and bolster Hong Kong's standing as a global Web3.0 hub.The inaugural list is closely watched, with selected firms allowed to test operations in a controlled environment. It marks a major financial center formally bringing stablecoins under tight oversight, prioritizing safety to set compliance benchmarks and reinforce Hong Kong's role as a digital-asset hub.

2. The U.S. Mar CPI prints at 20:30, with consensus at +3.3% YoY and +0.9% MoM. Mideast tensions have lifted oil prices, raising the risk of an upside surprise that could sway the Fed's rate‑cut trajectory.A beat would skew hawkish, strengthen the USD, and pressure U.S. equities and gold. In-line or softer data would revive cut expectations and support risk assets.

🐬 Stocks

1.$Taiwan Semiconductor(TSM.US)

TSMC reported Mar sales of NT$415.19bn (+45.2% YoY, +30.7% MoM). Q1 revenue totaled NT$1.13tn (+35.1% YoY).AI chips remain the core growth engine, with acceleration underscoring the strong global AI compute buildout. Orders were unaffected by the Mideast conflict, highlighting better‑than‑expected resilience and a continued upcycle across the semi supply chain.

2.$BABA-W(09988.HK)

Alibaba ATH said 'HappyHorse' is a model developed by its ATH Innovation unit, now in internal testing, with APIs to open soon. Beyond the Qwen foundation model, this targets specific niches such as creative or high‑concurrency apps.It signals further refinement of Alibaba's AI portfolio.

3.$HORIZONROBOT-W(09660.HK)

Horizon Robotics repurchased shares worth approx. HK$39.04mn on Apr 9. As a newly listed deep‑tech unicorn, the move sends a strong confidence signal amid recent share‑price volatility.

4.$NIO-SW(09866.HK)

Nio launched ES9 pre‑sales in Hangzhou. Positioned in the high‑end SUV segment, it extends Nio's battery‑swap ecosystem and smart cockpit to solidify share in the RMB 300k–500k band.

5.$Amazon(AMZN.US)

AWS is weighing external sales of its in‑house AI chips, such as Trainium, rather than limiting them to its own cloud. The move aims to reduce reliance on Nvidia and capture share in the third‑party chip market.

🐬 Top Gainers by Sector

A‑shares: transaction & payment services; exchanges & financial data; tobacco.

HK: electrical components & equipment; IT consulting; investment banking & brokerage.

U.S.: breweries; motorcycle manufacturers; kitchenware.

🐬 Watchlist for Tomorrow

1. None.

Risk disclosure and disclaimer: Dolphin Research Disclaimer and General Disclosure