Andy Chen

Artificial intelligence has advanced rapidly in recent years, with deep learning and generative AI models experiencing particularly exponential growth. Historically, every major technological revolution has restructured employment patterns and the labor market. During the First Industrial Revolution (1760–1840), humanity transitioned from reliance on human labor, animal power, and hydropower to coal and steam power, as new technologies significantly enhanced productivity. During the Second Industrial Revolution (1870–1914), the world moved from the Steam Age into the Electric Age; rapid scientific and technological breakthroughs were swiftly integrated into industrial production, driving mass production and the transformation of corporate organizational structures.

In early Asian trading on April 27, driven by positive earnings expectations for U.S. tech companies, demand for AI-related stocks such as chips and semiconductors surged, propelling Japanese and South Korean equity markets to record highs. The Nikkei 225 Index touched an intraday high of 60,348.83 points; as of press time, it was up 0.7% at 60,135.21 points. South Korea's KOSPI Index reached a session high of 6,603.01 points and remained up 1.66% at 6,583.07 points as of press time.

Tradingkey - US logistics giant UPS is set to release its first-quarter 2026 earnings report pre-market on April 28. According to market forecasts, UPS's first-quarter revenue is expected to decline significantly to $21 billion. Earnings per share (EPS) are projected at $1.06, representing a 28.9% decrease from $1.49 in the same period last year. Amid cautious market expectations regarding slowing growth, the effectiveness of the company's ongoing strategic transformation will serve as a key indicator for verifying earnings resilience in this report.

TradingKey - On April 23, the Philadelphia Semiconductor Index broke through the 10,000-point milestone, marking its longest-ever winning streak at 17 consecutive sessions, with a cumulative gain of over 41%. Since the conflict began on February 28, the index has surged by 24%. Over the past 20 trading days, Credo Technology led the constituent stocks with a peak cumulative gain of 78.56%, while ASML was the laggard with a cumulative increase of 1.72%. During the same period, Marvell Technology recorded a cumulative gain of 68.25%, Intel rose 4.15%, AMD surged 38.62%, Broadcom climbed 31.72%, Micron gained 26.13%, NVIDIA rose 11.73%, and TSMC added 10.04%.

TradingKey - On April 24, while the three major US indices were under pressure overnight, the strong performance of semiconductor stocks improved sentiment for related technology shares in the Asia-Pacific region. Japanese and South Korean indices showed mixed developments. The Nikkei 225 index opened higher and trended upward in the morning, with gains gradually widening in the afternoon to close up 0.97% at 59,716.11 points. The index reached an intraday high of 59,763.68 and a low of 59,225.37. In terms of sectors, semiconductors, data centers, and electrical equipment were among the notable performers.

TradingKey - SAP SE released its Q1 2026 financial results. During the period, under International Financial Reporting Standards (IFRS), the group's total revenue was €9.555 billion, up 6% year-on-year, largely in line with market expectations. Net profit attributable to the parent company was €1.932 billion, a 9% increase year-on-year. Diluted earnings per share (EPS) was €1.65, compared to €1.51 in the same period last year, representing a 9% year-on-year increase.

TradingKey - Hyundai Motor released its Q1 2026 financial results. During the period, net profit reached KRW 2.59 trillion, a year-on-year decrease of 23.6% and a quarter-on-quarter increase of 118.3%. Operating profit was KRW 2.51 trillion, down 30.8% year-on-year, missing market expectations of KRW 2.81 trillion. Hyundai Motor attributed the profit decline to U.S. auto tariffs, rising raw material costs, and increased investment. According to the company, tariff-related costs for the quarter amounted to KRW 860 billion.

TradingKey - The Nikkei index has continued to strengthen recently, erasing all losses since the US-Iran conflict. During today's session, the index briefly surpassed the 60,000 mark, hitting a new recent high. Since reaching a recent low on March 31, the index has gained 13.62%. Over the past 20 trading days, the sectors driving the index higher have been Information & Communication, Electrical Equipment, and Non-ferrous Metals; the sectors weighing on the index include Oil & Coal Products, Air Transportation, and Wholesale Trade.

TradingKey - Amid the geopolitical brinkmanship between the U.S. and Iran, U.S. stock index futures rose as Trump extended the ceasefire agreement. Asia-Pacific markets saw mixed performance, while Japanese and South Korean stocks hit new highs. The Nikkei 225 Index opened lower but trended higher in early trading, before gains gradually narrowed in the afternoon. It closed up 0.4% at 59,585.86 points, reaching a recent intraday high of 59,708.21 points. By sector, Information and Communication, Non-ferrous Metals, and Electrical Equipment led the gains, while Real Estate, Fishery, Agriculture and Forestry, and Wholesale led the losses.

TradingKey - United Airlines released its first-quarter financial results for the period ending March 31, 2026, after the market closed on April 22. During the period, the company’s net profit was $699 million, a year-on-year increase of 80.4%. Adjusted diluted earnings per share (EPS) was $1.19, significantly higher than the $0.91 reported in the same period last year and exceeding market expectations of $1.09. Total revenue for the group reached $14.608 billion, up 10.6% year-on-year, surpassing the market expectation of $14.46 billion. Passenger revenue accounted for $13.166 billion, an 11% increase year-on-year, also beating the market expectation of $12.96 billion.

TradingKey - IBM Corp. will release its first-quarter 2026 earnings report after the market close on April 22, as investors continue to seek evidence of sustainable growth. IBM shares have faced repeated setbacks this year, with a year-to-date decline of 13.86% as of April 20, standing in sharp contrast to last year’s 38% gain. This performance is primarily driven by the market's ongoing assessment of whether AI will cause widespread disruption to software business models. On February 23, fueled by AI-related panic trading, IBM shares plummeted 13.15% to close at $223.35, marking its largest single-day decline in nearly 25 years.

TradingKey - On April 21, during the early Asian trading session, crude oil futures continued their weak range-bound pattern. An increased inclination for profit-taking drove both major crude oil benchmarks lower, while the slight price pullback also reflected the market's cautious stance ahead of US-Iran negotiations. As of press time, WTI crude fell over 1% to $86.55, and Brent crude dropped 0.5% to $95.

TradingKey - Catalyzed by repeated closures of the Strait of Hormuz over the weekend and the re-escalation of Middle East tensions, compounded by the U.S. seizure of an Iranian merchant vessel and Iran firing on commercial ships, market expectations for a de-escalation in the Middle East have cooled significantly. Goldman Sachs stated that noticeably weak oil demand—particularly for petrochemical feedstocks and jet fuel—driven by high refined product prices and margins, could lead to further declines in oil prices.

TradingKey — Middle East conflicts escalated further over the weekend. Optimistic signals released by Trump were refuted by Iran during the two-day period. According to Reuters, the U.S. military seized an Iranian cargo ship attempting to break through its blockade, while Iran stated it would not participate in a second round of peace talks, despite U.S. President Trump's threats of a new round of air strikes. While short-term geopolitical tensions remain unclear, the market delivered a different performance: the Nasdaq recorded a 13-day winning streak and hit a new record high on April 17, reaching an intraday high of 24,519.51 points and closing at 24,468.48 points, a gain of 1.52%.

United Airlines (UAL) will report its first-quarter 2026 earnings results next Monday after the U.S. market close. Coupled with merger rumors involving American Airlines, market attention on United has been further heightened. According to the latest FactSet survey, the median 2026 EPS estimate for United Airlines has been revised downward from $10.68 to $9.93, with a low estimate of $6.86. The median price target is $133.50, representing a 40% implied upside from the current share price.

Netflix (NFLX) reported its first-quarter financial results for the period ended March 31, 2026, after the bell. During the period, the company’s net profit reached $5.283 billion, up 82.77% year-over-year. Diluted earnings per share (EPS) were $1.23, significantly exceeding the $0.66 recorded in the same period last year and the analyst estimate of $0.76. However, the stock fell 10% in after-hours trading as guidance missed expectations.

TradingKey - Since the escalation of the US-Iran conflict, geopolitical tensions in the Middle East have repeatedly recurred, causing crude oil prices to rise in tandem with news flow. Crude oil prices have become a "barometer" of geopolitical risk, serving as a typical case of a market where price volatility is driven by news. According to the latest media reports, two US officials stated that US and Iranian negotiators made progress during Tuesday's talks and are moving toward a framework agreement to end the conflict.

On April 15, Tesla CEO Elon Musk announced on social platform X: "Congratulations to the Tesla AI chip design team on completing the tape-out of the AI5 chip! AI6, Dojo3, and other exciting chips are also in development." Driven by the news, Tesla's stock price performed strongly yesterday, closing up 7.62% at $391.95, with a turnover of $43.862 billion.

TradingKey - Citigroup (C) announced its first quarter 2026 financial results. During the period, net income attributable to common shareholders was $5.785 billion, compared to $4.064 billion a year ago, representing a year-on-year increase of 42.35% and a sharp quarter-on-quarter surge of 134%. Diluted earnings per share (EPS) were $3.06, up from $1.96 in the same period last year. Total revenue for the period reached $24.633 billion, compared to $21.596 billion previously, up 14% year-on-year and 24% quarter-on-quarter. The robust revenue growth was primarily driven by performance across Citigroup's five core businesses and its "Legacy Franchises."

TradingKey - Overnight, U.S. lithium mining stocks were among the top gainers. Sigma Lithium (SGML) led the sector, closing up 17.1%; Lithium Americas (LAC) rose 7.62%; Albemarle (ALB) climbed 6.79%; and SQM closed 6.71% higher. Looking back at the past year, the lithium battery sector has maintained a sustained rally. Albemarle (ALB) surged from its post-U.S.-China trade war low of $48.57 to a high of $205 this year. The key driver behind this move was better-than-expected energy storage demand triggered by the rise in AI computing power requirements. During this period, lithium carbonate futures rebounded from a mid-year low of 59,000 RMB/ton to the 150,000 RMB/ton level. However, judging by recent performance, the sector appears to have shifted from its previous unilateral upward trend toward a period of range-bound volatility.