市场或在短期内迎来反弹，关注AI板块的反弹力度

Market Overview - The equity market continues to experience fluctuations, with major indices showing narrow movements; the Shanghai Composite Index remained nearly flat, while the CSI 300 fell by 0.06% and the CSI Dividend Index rose by 1.63% [1] - The technology sector faced significant declines, with the Hang Seng Tech Index and the STAR 50 Index dropping by 3.82% and 1.36% respectively [1] Commodity Market - Precious metals showed signs of stabilization, with Shanghai gold and silver rising by 0.26% and 0.57% respectively [3] - Industrial metals, particularly copper, saw increases due to ongoing impacts from U.S. tariffs, with Shanghai copper up by 1.17% and New York copper up by 1.12% [3] - The glass industry is experiencing a supply reduction and demand increase, leading to a 3.70% rise in glass prices; several steel mills announced daily production cuts of 10%, supporting a recovery in black commodities [3] Monetary Policy and Liquidity - The central bank's proactive measures, including a 450 billion yuan MLF operation and a net injection of 630 billion yuan this month, aim to stabilize liquidity [5] - Despite these measures, funding rates have increased, with overnight rates rising to 1.90% before settling at 1.70% by the end of the day [5] - The adjustment in the central bank's reverse repo announcement format has raised questions about the actual demand reported by banks, impacting market sentiment [6] Investment Sentiment and Trends - The equity market's trading volume has hit a new low since the Spring Festival, with total turnover at 1.29 trillion yuan, indicating a potential for significant rebounds following extreme volume reductions [7] - Small-cap stocks continue to weaken, with the CSI 1000 and Wind Micro Cap indices down by 0.78% and 0.44% respectively, reflecting a decrease in risk appetite among leveraged funds [8] - The AI and computing sectors have seen notable corrections, with the AIGC Index, GPU Index, and IDC computing rental index down by 2.36%, 2.74%, and 4.82% respectively, suggesting a potential for future rebounds in these areas [8] Hong Kong Market - The Hang Seng Index and Hang Seng Tech Index fell by 2.35% and 3.82%, respectively, influenced by Xiaomi's fundraising plan, which led to a 6.32% drop in its stock [9] - Despite the declines, there was a net inflow of 13.896 billion yuan from southbound funds, indicating that some investors view the market corrections as buying opportunities [9] - The AH share premium index has risen to 131.72, continuing its upward trend since March 19 [9]