The South Korean KOSPI index opened 69.47 points higher, or 1.3%, at 5423.96 on Thursday, February 12.

1. Trump Praises Non-Farm Payroll Data, Urges Further Interest Rate Cuts to "Global Lowest" —Trump posted on social media, "Great jobs data, far exceeding expectations! The U.S. should pay far less interest on borrowing costs (bonds!)! We are once again the world's leading power and therefore deserve the lowest interest rates ever." 2. Meets with Netanyahu, Says Deal with Iran is "Priority" —Trump posted that he held "very successful" talks with Israeli Prime Minister Netanyahu and Israeli representatives. No decisions were reached except that he "insisted on pushing forward with U.S.-Iran negotiations and seeing if a deal could be reached." Trump stated that reaching an agreement is the priority, otherwise, "we'll just have to wait and see." 3. Second U.S. Aircraft Carrier Ready for Middle East Deployment—U.S. officials revealed that the U.S. Department of Defense has instructed a second aircraft carrier strike group to prepare for deployment to the Middle East. 4. Privately Considers Withdrawing from the USMCA —Sources revealed that Trump is privately considering withdrawing from the USMCA, injecting new uncertainty into the ongoing key renegotiations among the three countries. It is understood that Trump has not yet explicitly stated that he will take this action. 5. House of Representatives Rejects Tariffs on Canadian Goods —The U.S. House of Representatives passed a resolution by a vote of 219 to 211, requiring the U.S. federal government to end punitive tariffs on Canadian goods. Six Republican representatives voted in favor. 6. Threatens to Rebel Against Republicans —Trump posted that any Republican who votes against tariffs in the House or Senate will face serious consequences in elections (including primaries). Trump wrote, "Tariffs protect our economy and national security, and no Republican has the right to undermine that privilege." 7. Orders Military to Purchase Coal-Fired Power, Multiple Ministries Work Together to Boost Traditional Energy —Trump announced a multi-pronged approach to extend U.S. dependence on coal-fired power. He ordered the Pentagon to purchase electricity from coal-fired power plants and announced millions of dollars in funding to upgrade existing facilities. Trump praised coal as the "most reliable and dependable" form of energy. 8. Appeals Against Offshore Wind Project Ban —U.S. Interior Secretary Bergham stated that the Trump administration plans to appeal a series of court rulings that blocked its efforts to halt offshore wind farm construction. This comes after a U.S. judge overturned five Trump administration executive orders halting multi-billion dollar offshore wind projects. 9. Escalates Citizenship Revocation Action—According to NBC News: The Trump administration is significantly expanding its citizenship revocation actions against foreign-born U.S. citizens in an effort to curb immigration. 10. National Guard Withdrawal from Three Cities—According to the Washington Post: The Trump administration is withdrawing National Guard troops from Los Angeles, Chicago, and Portland.

A-share paper manufacturing stocks rallied in early trading, with Wuzhou Special Paper hitting its daily limit, followed by gains in Bohui Paper, Kaineng Paper, Jingxing Paper, and Yibin Paper. On the news front, the offshore RMB exchange rate against the US dollar broke through the 6.9 mark, reaching a new high since April 2023.