Lucas Cheah : Question 1 -
Company A: $拼多多 (PDD.US)$  
Company B: $eBay (EBAY.US)$
Company C: $京東 (JD.US)$
Company D: $亞馬遜 (AMZN.US)$
Question 2 -
$拼多多 (PDD.US)$  has performed worst in the last two years. PDD Holdings' underperformance over the last two years is due to a combination of factors, including regulatory pressures in China, intense competition, an economic slowdown, and shifts in its business model. Additionally, global investor sentiment toward Chinese stocks has been impacted by geopolitical tensions and concerns about future growth prospects. While PDD has potential for long-term success, especially with its forays into new sectors like agriculture, the stock’s performance reflects short-term concerns about profitability, market conditions, and regulatory risk.

Lucas Cheah : The market reaction to Broadcom and Nvidia's earnings doesn't necessarily mean that the AI sector is out of "razzle-dazzle." It might indicate a more measured investor response, as expectations have risen dramatically due to the rapid advancements and hype surrounding AI. Companies like Nvidia, which have been pivotal in AI hardware development, saw massive stock growth fueled by enthusiasm for AI-driven innovation. However, markets can be cyclical, and even high-growth sectors experience cooling periods after intense rallies. Profit-taking and reassessments of long-term growth prospects could be influencing market sentiment.
Despite any short-term market reactions, AI remains a transformative technology with wide-reaching applications across industries. It’s more likely that the sector is entering a maturation phase where investors are focusing on tangible results, sustainable growth, and real-world implementations rather than speculative hype. Continued investments in AI are expected as its potential is still unfolding, particularly in areas like autonomous systems, healthcare, and finance.
If not AI, industries that could capture investor excitement include:
1. Green Energy and Sustainability: As the world moves toward clean energy solutions, renewable technologies, electric vehicles, and energy storage innovations may attract significant investment. Governments globally are pushing green initiatives, making this sector a potential growth driver.
2. Biotechnology and Healthcare Innovation: Advances in gene editing, personalized medicine, and new drug development, particularly in the areas of aging, cancer, and chronic diseases, could be a major focus. The pandemic has also underscored the importance of healthcare technology.
In summary, while AI may see periodic cooling in the market, its long-term trajectory remains strong. However, other sectors like green energy, and biotechnology are poised to excite investors looking for the next big thing.

Lucas Cheah : 由於美國聯邦儲備系統在全球金融體系中扮演著重要角色，利率降息通常會產生深遠影響。您認為美國利率下降將如何影響全球金融市場，特別是在貨幣波動、資金流入和對新興市場的投資方面呢？此外，這對全球通脹、商品價格和發展中和發達國家的長期經濟增長可能會帶來什麼後果？