智通财经网·2025-07-11 03:45Core Viewpoint - The A-share market showed strong performance with major financial sectors leading the gains, driven by economic recovery expectations, attractive bank dividend yields in a low-interest environment, and sustained inflow of long-term capital [1][2] Market Analysis - The strong index performance is attributed to three main factors: 1. The banking and major financial sectors exhibited robust growth, supported by enhanced economic recovery expectations and the appeal of bank dividend yields in a low-interest rate environment [2] 2. The Shanghai State-owned Assets Supervision and Administration Commission held a meeting regarding the development trends and strategies for cryptocurrencies and stablecoins, indicating a regulatory acceleration for stablecoins and the advent of an "equity era" for asset tokenization [2] 3. Major rare earth companies, Northern Rare Earth and Baotou Steel, announced price increases, leading to expectations of improved performance and valuation for domestic rare earth magnetic material companies [2][4] Sector Highlights - Rare Earth Sector: The rare earth permanent magnet concept stocks continued to perform strongly, with Northern Rare Earth achieving consecutive gains. Price increases from major players are expected to benefit domestic companies in terms of performance and valuation [4] - Stablecoin Concept: The stablecoin sector saw renewed strength, with stocks like Guo'ao Technology and Greenland Holdings hitting the upper limit. The focus has shifted from cross-border payments to asset tokenization, driven by liquidity release and improved settlement efficiency [5] - CRO Sector: The pharmaceutical sector, particularly CRO and innovative drugs, experienced gains, with companies like WuXi AppTec and Kailai Ying reaching the upper limit. The sector is expected to benefit from improved market conditions and policy support for commercial insurance development [6] Institutional Perspectives - Dongguan Securities: Expressed a cautious bullish outlook on the market, noting stable domestic economic performance and a shift in the central bank's monetary policy assessment towards a more positive stance [8] - Guoxin Securities: Indicated that the market's central tendency could still rise, despite a relatively dispersed profit-making effect. The expectation of improved fundamentals supports a higher market center [9] - Ping An Fund: Maintained a long-term bullish view, anticipating strong performance in sectors like military and new energy during the upcoming earnings season, while acknowledging potential short-term tactical adjustments [10]