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Market Overview - Global monetary policy is gradually shifting towards easing, with signals of a potential interest rate cut in July from Federal Reserve officials and White House representatives [1][5] - Domestic policies aimed at stabilizing growth are being implemented, including excess MLF operations and consumer support policies [1][5] - Overall economic stability and strong foreign trade resilience suggest that both A-shares and Hong Kong stocks are likely to maintain a strong oscillating pattern in the short term [1][5] A-shares Performance - On June 25, A-shares continued to rise, with the Shanghai Composite Index increasing by 1.04% to 3455.97 points, marking a new high for the year [2] - The non-bank financial sector led the gains with a 4.46% increase, driven by policies aimed at enhancing capital market functions and promoting long-term capital inflows [3][4] - The defense and military sector saw a rise of 3.36%, fueled by expectations surrounding the upcoming military parade [3][4] - The computer sector benefited from domestic industrial upgrades and artificial intelligence policies [3][4] Hong Kong Stocks Performance - The Hong Kong market also experienced gains, with the Hang Seng Index rising by 1.23% to 24474.67 points, achieving a three-month high [2] - Consumer services, particularly the comprehensive consumer services sector, surged by 5.1%, indicating increased market confidence in consumption recovery [3][4] - Real estate management and development sectors rose by 2.79% and 3.22%, respectively, reflecting valuation recovery opportunities amid policy easing [3][4] Sector Analysis - Financial stocks performed exceptionally well, particularly brokerage firms benefiting from the approval of virtual asset trading licenses [4] - Education stocks also saw significant increases due to favorable policies supporting debt financing for educational enterprises [4] - In contrast, the biotechnology sector in Hong Kong experienced a slight decline of 0.15%, possibly due to recent valuation adjustments in the pharmaceutical sector [4] - A-shares showed stronger resilience in technology and consumer sectors, especially in artificial intelligence and computing, compared to Hong Kong stocks [4]