Zheng Quan Shi Bao Wang·2025-07-30 02:03Market Overview - The Shanghai Composite Index experienced a slight increase of 0.33%, closing at 3609.71 points, while the Shenzhen Component Index rose by 0.64% to 11289.41 points, and the ChiNext Index surged by 1.86% to 2406.59 points, indicating a positive market sentiment [1] - The total trading volume in the Shanghai and Shenzhen markets reached 182.96 billion yuan, an increase of approximately 63 billion yuan compared to the previous day [1] Sector Performance - The insurance, banking, and agriculture sectors saw declines, while the pharmaceutical, steel, and semiconductor sectors showed significant gains [1] - The innovative drug, CPO concept, and composite copper foil concepts were particularly active in the market [1] Policy Impact - According to Everbright Securities, the ongoing policy initiatives are expected to sustain the "anti-involution" market trend, with a focus on sectors likely to benefit from these policies, such as coal, steel, photovoltaic, and building materials [1] - The current market trend is characterized by "rotating supplementary growth," suggesting that there are opportunities for stocks that may experience a rebound [1] Stablecoin Regulation - The Hong Kong Monetary Authority (HKMA) is set to implement a regulatory framework for stablecoin issuers starting August 1, with the first licenses expected to be issued by the end of the year [2] - Institutions interested in applying for stablecoin licenses are encouraged to contact the HKMA by August 31 for guidance [2] - The stablecoin industry is anticipated to grow as global regulatory policies are established, providing a foundation for demand in the future [2] Domestic Server Procurement - China Unicom announced a centralized procurement project for general servers, with a total of 87,020 units planned for purchase to support its "computing network intelligence" business [3] - The domestic procurement ratio for these servers is expected to exceed 90%, indicating a significant increase from previous levels [3] - The demand for servers reflects a recovery in the domestic information technology sector, with positive growth in bidding activities [3] Photovoltaic Industry Clarification - The China Photovoltaic Industry Association issued a clarification regarding rumors about the photovoltaic sector, particularly concerning multi-crystalline silicon [4] - The association emphasized the importance of adhering to legal and market principles in addressing competition issues within the industry [4] Coal Market Update - The coal market has seen a rebound in prices since June, with the spot price for 5500 kcal thermal coal at ports around 650 yuan per ton, up 30 yuan from the end of June [5] - The price of Shanxi coking coal has also increased, reaching 1290 yuan per ton, reflecting a rise of 170 yuan since the end of June [5] Air Conditioning Exports - China's air conditioning exports surged by 10% year-on-year in the first half of the year, totaling 9.35 billion USD, driven by extreme heat conditions globally [5] - Exports to EU countries saw a remarkable increase of 43.2%, with export value reaching 3.76 billion USD, marking a historical high for the same period [5]