Sou Hu Cai Jing·2025-07-30 13:45Market Overview - The market has experienced a divergence where indices are rising while individual stocks are not performing well, leading to concerns among investors about potential losses in a bullish market [6] - The Shanghai Composite Index reached a new high driven by banking and insurance sectors, while the ChiNext and CSI 2000 indices are showing signs of adjustment [7][8] Federal Reserve Meeting - The Federal Reserve is expected to maintain the interest rate target range at 4.25%-4.5% during the upcoming meeting, with a mere 2.6% chance of a rate cut [6] - Powell's stance on potential rate cuts will be a significant factor influencing the market in the short term [6] Technical Analysis - The index has broken through a short-term downtrend channel and is currently supported by moving averages, with a key support level at 3605 points [8] - The short-term trends for the ChiNext and Sci-Tech Innovation Board have shown signs of breaking down, which could impact the overall market rhythm [8] Sector Insights - Nvidia has ordered 300,000 H20 chips from TSMC, driven by strong demand from the Chinese market, indicating a shift from relying solely on inventory [9] - The price of data center equipment is expected to rise due to increased demand, with projections suggesting a price increase of 100,000 to 200,000 yuan per unit [9] - The anticipated delivery of H20 chips will accelerate the construction of data centers by major internet companies, potentially disrupting the existing six-month order delivery cycle and creating a supply-demand gap [9]