每日市场观察

Market Overview - The market showed signs of recovery after a period of risk release, with the Shanghai Composite Index reaching 2985 points before experiencing fluctuations [1] - The defense and military industry led the market gains, while brokerages faced declines, indicating mixed sector performance [1] - Short-term market sentiment is improving, but caution is advised regarding the inflow of new capital and the sustainability of recovery signals [1] Fund Flow - On June 28, the Shanghai Stock Exchange saw a net inflow of 12.34 billion yuan, while the Shenzhen Stock Exchange had a net inflow of 6.686 billion yuan [2] - The top three sectors for fund inflows were consumer electronics, power grid equipment, and electricity, while the sectors with the highest outflows included liquor, securities, and software development [2] Economic Indicators - In May, China's foreign trade continued to show a robust upward trend, with a 13.64% year-on-year increase in the issuance of various certificates by the China Council for the Promotion of International Trade [3] - As of the end of May, China's total installed power generation capacity reached approximately 3.04 billion kilowatts, marking a 14.1% year-on-year increase, with solar and wind power capacities growing significantly [4] - The profits of large-scale industrial enterprises increased by 3.4% year-on-year from January to May, indicating a mild improvement in industrial performance [6] Industry Dynamics - China Broadcasting completed its first call verification for the 5G telecommunications universal service pilot, demonstrating significant advancements in network coverage for remote areas [7][8] - The Ministry of Industry and Information Technology reported a 12% year-on-year increase in smartphone production from January to May, with integrated circuit production rising by 32.7% [8] Fund Market - The total scale of public funds in China surpassed 31 trillion yuan for the first time by the end of May, reflecting a growing investment landscape [9] - The first REITs for the Xiong'an New Area were successfully listed, marking a significant development in infrastructure investment [10] Investment Opportunities - There is a focus on investment opportunities in AI edge computing, with potential growth in sectors such as AI smartphones, AI wearables, and AIoT [11] - The upgrade of processors is expected to drive changes in mobile hardware design, potentially leading to a wave of device replacements [12]