收评：沪指低开反弹涨0.35% 稳定币概念再度活跃

Market Overview - The market experienced a low open and high close on Monday, with the ChiNext Index leading the gains. The Shanghai Composite Index closed at 3388.73 points, up 0.35%, with a trading volume of 481.6 billion yuan. The Shenzhen Component Index closed at 10163.55 points, up 0.41%, with a trading volume of 733.5 billion yuan. The ChiNext Index closed at 2057.32 points, up 0.66%, with a trading volume of 357.6 billion yuan [1]. Sector Performance - In terms of sector performance, digital currency, film and television, CPO, and oil sectors saw significant gains, while precious metals, automotive, airports, and shipping sectors experienced declines [1]. - The IP economy concept was strong throughout the day, with stocks like Light Media hitting the daily limit. Stablecoin concepts also gained strength, with companies like GCL-Poly Energy and Hang Seng Electronics reaching the daily limit. The chemical sector was active, with stocks like Jinniu Chemical hitting the daily limit, and oil and gas stocks continued to perform well [2]. Institutional Insights - According to Jifeng Investment Advisory, the market is showing signs of recovery, particularly in the oil and gas extraction sector. The overall positive market logic remains unchanged, supported by the ongoing domestic economic recovery and capital market reforms. Short-term focus should be on high-dividend assets like banks and power companies to hedge against market risks, while also considering undervalued tech stocks and policy-driven sectors [3]. - Huatai Securities noted that the market experienced fluctuations last week, with external disturbances leading to a decline in risk appetite. The market may enter a consolidation phase, but the mid-term revaluation of Chinese assets is still ongoing. High trading density does not necessarily indicate an immediate reversal, and structural opportunities may arise after adjustments [3]. - Xing Shi Investment emphasized that macro drivers are likely influenced by policy and economic recovery. With relatively ample domestic liquidity, industry-driven opportunities are expected to dominate liquidity flows, leading to more pronounced structural opportunities [3]. Real Estate Market - The National Bureau of Statistics reported that the real estate market is moving towards stabilization, with policies to support the sector being implemented. In May, the year-on-year decline in housing prices in 70 major cities continued to narrow, and inventory levels decreased. The sales area and sales volume of new commercial housing from January to May fell by 2.9% and 3.8% year-on-year, respectively, remaining stable compared to the previous months [5]. Moutai Pricing - Moutai's distributors in several provinces have agreed to stabilize market prices, with the wholesale reference price for Moutai liquor slightly increasing to 2000 yuan per bottle [6][7].