The capex logic of Tencent and Alibaba AI is differentDaily Hong Kong Stock Market News Briefing (March 20, Thursday)External Headlines: The Federal Reserve maintains interest rates, smooth communication between the U.S. and Ukraine, Russia-Ukraine talks are on track, Google and Apple face EU antitrust actionsWall Street interprets the Federal Reserve's decision: dovish highlights and mini "Powell put options"Top 20 U.S. stock trading volumes on March 19: NVIDIA's Jensen Huang claims future chips will be in higher demandThe US-Europe trade war continues: Europe takes action against Google and AppleInstitutional Interpretation: The Federal Reserve waits for the storm of uncertainty, with the next rate cut possibly in the third quarter"Trump put options" and "Powell put options" triggered one after another?Breakfast | The Federal Reserve remains steady, Powell emphasizes that the economy is still strong, and U.S. stocks accelerate their reboundZhitong Hong Kong Stock Early Knowledge | The Federal Reserve maintains interest rates unchanged, Tencent plans to repurchase at least HKD 80 billion in shares this yearPowell: The hard data of the U.S. economy is very robust, and the "baseline" forecast still indicates that tariffs have a "temporary" impact on inflationMultiple funds significantly increased their positions, boosting the activity in the A-share and Hong Kong stock marketsReminder: Please pay close attention to the following (all times are in Beijing time)Better EV Stock: Rivian vs. TeslaU.S. Treasury prices soared on the day of the Federal Reserve's decision, with the two-year Treasury yield falling by about 7 basis points on WednesdayTencent Conference Call: Chinese tech companies prioritize efficiency, with capital expenditures lower than their Western counterparts, as evidenced by DeepSeekWhy Bitcoin, Ethereum, and Dogecoin Are Soaring TodayWhy Intel Stock Is Sinking TodayThe Federal Reserve continues to hold steady, slowing down the balance sheet reduction starting in April, with expectations of fewer rate cuts by officials this year, while lowering economic forecasts and raising inflation expectationsWhat changes are there in the full text compared to the Federal Reserve's March meeting statement?Powell talks about patience and tariffs raising inflation expectations, two-year U.S. Treasury yields fall below 4%Tencent (Minutes): Adjust AI investment dynamically according to demand, balance capital allocation"Carbon-based" VS "Silicon-based": The "life-and-death race" of human-machine in the secondary marketJensen Huang: The understanding of DeepSeek R1 is completely wrongTencent:Crazy for "AI"! Love it ot hate it?Autonomous Driving Battle: BYD's Price "Weapon" VS Tesla's "Dilemma"Tonight's Federal Reserve decision: On the surface, it remains steady, but behind the scenes, is it playing out a "strategic pivot"?Focus of the Federal Reserve's March FOMC Monetary Policy MeetingKINGSOFT CLOUD Q4 revenue increased by 30% year-on-year, surpassing the industry average growth rate, with AI revenue increasing by nearly 500%Could This Nvidia Partner Be a Hidden Gem That Boosts Your Portfolio?Tesla Stock Is Down by 50%. Time to Buy?Tencent is set to invest 100 billion yuan in AIU.S. stock market early trading: Most tech stocks are up, with Tesla rising about 2%, as traders await guidance from the Federal ReserveAnta Sports (Minutes): Niche high-end brands perform wellDaily US Stock Market News Briefing (March 19, Wednesday)US Stock IPO Outlook | Two and a half years of losses exceeding 300 million yuan, Pomegranate Cloud, a player in patient chronic disease management, faces "common issues"U.S. Stock Market Outlook | The Federal Reserve's Interest Rate Decision is Coming, Powell's Speech Becomes the Market FocusWhere Will Nvidia Stock Be in 1 Year?"Trump 2.0" Roadmap: A "Grand Chess Game" of American Debt RestructuringAnta Sports: Revenue is sprinting ahead while profits are tripping over their lacesBreakfast News: New Chips But Nvidia DipsDidi: Domestic business is well understood, and we need to tell a good story about profits and the "starry sea" overseasXPeng plays the windfall cardWill the US stock market not return to its good old days?Is the collapse of the US stock market all the fault of the American president? He is the coroner, not the murdererZEEKR launches the intelligent driving defense battleHeartfelt advice! Morgan Stanley's Asia Credit Bond Team: This is the last opportunity for a "defensive shift."Is Amazon a Recession-Resistant Stock? Here's What History Says.This Underrated Tesla Business Segment Is Growing Like CrazyKINGSOFT's fourth-quarter revenue exceeds expectations