收评：沪指震荡调整微跌0.09% 钢铁、光伏板块逆市大涨

Market Overview - The A-share market experienced fluctuations with the ChiNext index leading the decline, closing at 3454.79 points for the Shanghai Composite Index, down 0.09%, with a trading volume of 543.1 billion yuan [1] - The Shenzhen Component Index closed at 10412.63 points, down 0.61%, with a trading volume of 833.8 billion yuan [1] - The ChiNext index closed at 2123.72 points, down 1.13%, with a trading volume of 393.8 billion yuan [1] Sector Performance - The steel, photovoltaic, coal, and marine economy sectors showed strong performance, while military, brain-computer interface, CPO, and semiconductor sectors faced declines [1][2] - Photovoltaic concept stocks rebounded collectively, with nearly 10 stocks hitting the daily limit [2] - Marine economy concept stocks surged against the trend, with over 10 stocks hitting the daily limit [2] - Steel and cyclical stocks were active, with companies like Liugang Co. hitting the daily limit [2] - Military stocks underwent adjustments, with Beifang Changlong dropping over 10% [2] Institutional Insights - According to Jufeng Investment Advisors, the market is experiencing fluctuations, with the steel sector performing well. The marine economy is emerging as a new thematic focus due to multiple catalysts [4] - Hengsheng Qianhai Fund noted that the market remains strong under the expectation of policy support for the economy, with a dual rotation between consumption and technology sectors [4] - The long-term outlook suggests that with decreasing tariff uncertainties and a restructuring of the global monetary order, the valuation of Chinese equity assets may improve [4] Innovation and Technology - CITIC Securities highlighted the issuance of measures by the National Medical Insurance Administration and the National Health Commission to support the high-quality development of innovative drugs, indicating a favorable environment for the pharmaceutical sector [5] - The report suggests embracing innovation-driven strategies and internationalization as key directions for investment in the second half of the year [5] Industry Developments - The world's largest single-unit capacity impact turbine has been successfully developed, marking a significant breakthrough in China's high-head, large-capacity turbine technology [7] - The turbine, with a capacity of 500 megawatts, will be used in the Zhala Hydropower Station, a key project for China's "Tibetan electricity export" initiative [7] Market Trends - The global DRAM market is expected to reach a historical high, driven by a significant increase in prices, with the DRAM market composite price index rising by 47.7% since the beginning of 2025 [9] - The traditional DRAM products are projected to experience a shift from oversupply to undersupply, impacting both server and consumer terminal markets [9]