策略周报：预期交易窗口，重视安全边际

Industry and Economic Outlook - The report indicates that domestic demand expectations remain weak, with the market entering a phase of expectation fulfillment. Economic data from May has not alleviated concerns regarding the recovery of domestic demand, particularly in the real estate sector, which continues to show weakness [19] - The market has experienced a policy-driven recovery since the second quarter, but the current observation period suggests that further policy efforts are needed to break the prevailing pessimism regarding domestic demand [19] - Market sentiment weakened in the latter half of the week, influenced by the fulfillment of policy expectations and the ongoing weakness in traditional demand chains, particularly in real estate [19] Key Policy Developments - The report highlights the recent release of the "Eight Measures" by the China Securities Regulatory Commission (CSRC), aimed at deepening the reform of the Sci-Tech Innovation Board (STAR Market). This initiative focuses on enhancing the board's role in supporting high-level technological self-reliance and improving the evaluation system for technology attributes [9] - The "Eight Measures" propose improvements to the trading mechanism of the STAR Market to enhance trading activity, including optimizing the market maker mechanism and introducing new index products [9] Sector-Specific Insights - The report notes that the "Car-Road-Cloud" initiative has seen a surge in related policies since June, marking a significant catalyst for smart driving technologies. This initiative aims to create a complex system for vehicle and infrastructure communication, enhancing the overall traffic system's capabilities [6][19] - The report identifies several listed companies within the "Car-Road-Cloud" industry chain, particularly in the mid and downstream sectors, which are expected to benefit from the maturation of this industry [19] Market Performance - The report provides a summary of market performance, indicating that the Shanghai Composite Index closed at 3032.63, with a weekly decline of 0.61% and a year-to-date increase of 1.94% [31] - The report also highlights the performance of various indices, including the ChiNext Index and the CSI 300, noting their respective weekly and year-to-date changes [31]