➀ South Korea's exports surged 7.5% year-on-year in September, with semiconductors, wireless communication equipment, computers, cars, ships, and medical products leading the growth; ➁ Semiconductor exports, including memory chips, saw a significant increase, driven by the launch of new smartphones like the iPhone 16 and AI server investments; ➂ The country's trade surplus expanded to 67 billion USD, with exports to China and the US also witnessing growth.

1. The U.S. economy remains resilient with strong GDP growth, robust consumer spending, and cooling inflation. 2. Top-performing sectors in Q1 include energy, financials, and industrials. 3. Key investments include Target, Disney, and Xylem, each with strong growth catalysts. 4. Global economic outlooks vary with the U.S. leading in growth, while the UK and Eurozone face stagnation, and China implements stimulus measures. 5. The portfolio's top ten average-weighted names returned 16.1%, with strong performances from consumer discretionary and information technology.

1. The U.S. economy grew at an annual rate of 2.99% in Q2 2024, in line with the forecast of 3.0%; 2. The growth rate is an improvement from the Q1 2024 GDP final estimate of 1.6%; 3. Real GDP is expected to rise by 2.4% year-over-year in 2024.

1. The PIMCO Dynamic Income Opportunities Fund (PDO) is poised to benefit from Federal Reserve rate cuts, especially with the Fed cutting faster than expected. 2. The fund has significant investments in high-yield credit and non-agency mortgages, offering a lower premium to NAV compared to its larger counterpart, PDI. 3. Risks include potential credit risk increases if U.S. economic growth slows, but PDO remains attractive due to its lower NAV premium and NAV growth potential in a lower-rate world.

1. The Fed's unexpected 50 basis point rate cut signals a shift to economic growth over inflation; 2. Projections show rates falling to 3% in the coming years; 3. Despite sticky inflation, the Fed's shift supports the thesis of prioritizing economic stability, making high-quality dividend stocks attractive investments.

1. The S&P 500 rebounded from its worst week of the year, posting its best week. 2. Apple faced a legal setback in the EU over back taxes. 3. The Federal Reserve is expected to cut interest rates next week.

➀ Singapore's factory output grew by 1.8% year-on-year in July, reversing a decline in June. ➁ The growth exceeded economists' forecasts, with a median prediction of 0.2% growth. ➂ Excluding the volatile biomedical sector, industrial production increased by 3.4% year-on-year, contrasting with a 2.2% contraction in June.

➀ Despite US sanctions, Chinese semiconductor companies have reported significant revenue growth, with 40 out of 68 companies seeing revenue increases of over 50% in the first half of the year. ➁ The semiconductor sector has benefited from a rebound in the global consumer electronics market, with China playing a crucial role in the industry's recovery. ➂ China's semiconductor industry has expanded its production capacity, particularly in mature processes, leading to a surge in exports to Southeast Asian markets. ➃ The industry is expected to maintain an upward trend through 2025, driven by technological innovation, market demand rebound, and policy support.

1. The U.S. economy continues to grow driven by continuous innovation in AI, with no traditional business cycles. 2. Time pacing and scale are crucial in the AI market, with tech giants like Microsoft and Google leading the charge. 3. The demand for energy in AI is soaring, highlighting the need for sustainable energy sources to support ongoing technological advancements.

1. The CPI report showed weaker than expected figures, indicating a slowdown in nominal growth and potentially pushing the US economy closer to recession. 2. Slower nominal growth due to changing inflation trends could impact earnings and sales growth in the S&P 500. 3. Lower inflation rates and slowing money velocity suggest that earnings estimates may be too high, and companies may lose pricing power.