Market Overview - A-shares showed mixed performance on June 27, with the Shanghai Composite Index down 0.21%, while the Shenzhen Component Index rose 0.85% and the ChiNext Index increased by 1.16% [1] Influential News - Tianfeng International Securities, a subsidiary of Tianfeng Securities, has upgraded its trading license to provide virtual asset trading services, which may reshape the non-bank financial industry [2][4] - The expectation for a Federal Reserve interest rate cut has increased, driven by pressure from President Trump on Chairman Powell [3] - Copper prices have been rising, with Goldman Sachs predicting a peak of approximately $10,050 per ton in August due to tightening supply outside the U.S. [3][5] Hot Sectors 1. Brokerage Sector - The brokerage stocks were active, with Tianfeng Securities hitting the daily limit, and other financial and stablecoin concept stocks also rising [4] - The regulatory approval for virtual assets is expected to activate the entire non-bank financial industry chain [4] 2. Non-ferrous Metals - Non-ferrous metal stocks surged, with several stocks including Northern Copper and Huayang New Materials hitting the daily limit [5] - The rise in copper prices is attributed to a significant squeeze in the London Metal Exchange (LME) due to reduced inventories and resilient economic activity in China [5] 3. Xiaomi Automotive Sector - The Xiaomi automotive sector gained momentum, with stocks like Kaizhong Co. hitting the daily limit following the launch of Xiaomi's first SUV, the Xiaomi YU7, which received nearly 290,000 pre-orders in one hour [6] - The strong order performance indicates market acceptance of high-quality products [6] 4. Water Conservancy Sector - The water conservancy construction sector saw gains, with stocks like Hanjian Heishan and Chengbang Co. hitting the daily limit [7][8] - Government initiatives to enhance water safety and infrastructure investment are expected to support growth in this sector [8] Institutional Insights 1. Shenwan Hongyuan - The firm anticipates a short-term need for market consolidation but does not expect significant declines, focusing on technology and defensive assets [9] 2. Orient Securities - The firm emphasizes the importance of maintaining market stability and expects July's earnings reports to significantly influence stock performance [10] 3. Everbright Securities - The firm notes that after consecutive market gains, a lack of new catalysts may lead to a period of index fluctuations and sector rotation [11]