Market Overview - A-shares and Hong Kong stocks showed significant strength, with the Shanghai Composite Index briefly surpassing the 3400-point mark and the Hang Seng Index returning above 24000 points for the first time in over two months [1][2] - The Hang Seng Technology Index experienced a surge, with gains exceeding 3% during the trading session [4] Sector Performance - The biopharmaceutical sector led the A-share market, with a rise of over 2.7%, and several stocks, including Hainan Haiqi Pharmaceutical and Ruizhi Pharmaceutical, hitting the "20cm" limit up [1] - Non-bank financial stocks also saw substantial increases, with companies like Xinda Securities and Yong'an Futures reaching their daily limit up [1] - In contrast, the home appliance and non-ferrous metals sectors experienced declines [2] Economic Indicators - The National Bureau of Statistics reported a 0.1% year-on-year decline in the Consumer Price Index (CPI) for May 2025, with food prices down 0.4% and non-food prices remaining stable [2] - The Producer Price Index (PPI) for May 2025 showed a year-on-year decrease of 3.3% [2] Notable Stock Movements - In the Hong Kong market, Kingdee International saw a price increase of over 9%, while Tencent Music and Kuaishou both rose by over 6% [4] - Conversely, gold stocks in Hong Kong faced declines, with companies like Zhaojin Mining and Zijin Mining dropping significantly [4] - Chinese rare earth stocks experienced a dramatic rise, with one stock increasing by over 50% during the session [4] Regulatory Developments - The Ministry of Commerce confirmed the implementation of export controls on rare earth materials, emphasizing the dual-use nature of these items and the need to maintain national security [4]