特朗普宣布对不同国家征收不同关税

Report Industry Investment Rating No relevant content provided. Core View of the Report - Trump announced tariff rates on different countries, with most effective dates postponed to August 1st, increasing market uncertainty and causing the overnight market's risk aversion sentiment to rise. The A - share market is back to the situation where dividend - paying sectors such as banks and power protect the market, showing obvious characteristics of stock - based game, and the index will continue to fluctuate between 3400 - 3500 points. It is expected that the market will show divergence today [2][9]. Summary by Directory 1. Market Views 1.1 Overseas Overnight - Trump announced a 25% tariff on Japanese and South Korean goods effective August 1st, and tariffs ranging from 25% to 40% on countries like Malaysia, Kazakhstan, South Africa, and Laos, with the effective dates extended to August 1st. The Fed research report warns of the risk of zero interest rates, and Fed Chair candidate Wash advocates for lower interest rates. Overnight, the dollar index rose, the 10 - year U.S. Treasury yield increased slightly, gold closed slightly down, U.S. stock indexes fell, the Nasdaq Golden Dragon China Index rose, and the offshore RMB exchange rate depreciated [1][4]. 1.2 Domestic Market Review - On Monday, the broader market opened lower and fluctuated slightly up by 0.02%, the Shenzhen Component Index fell 0.7%, and the ChiNext Index dropped 1.21%. The market showed a volatile and differentiated trend. The implementation of the quantitative new rules on the first day did not have a significant negative impact on the market. Public utilities, real estate, light manufacturing, and environmental protection sectors led the gains, while coal, pharmaceutical biology, communication, and household appliances sectors led the losses [2][5]. 1.3 Important News - Trump issued tariff letters to 14 countries, with tariffs on imports from Japan and South Korea at 25% and 25% - 40% on others from August 1st. The EU claims good progress in trade negotiations with the U.S., and there are calls for the Fed to cut interest rates. The Fed warns of zero - interest - rate risks. China aims to have over 100,000 high - power charging facilities by the end of 2027. China opposes tariff and trade wars. China's gold reserves increased for the 8th consecutive month, and foreign exchange reserves rose in June [6][7][8]. 1.4 Today's Strategy - Trump's announced tariffs are similar to those in April, with some increases and decreases, and all effective dates are postponed to August 1st. The uncertainty of counter - measures from other countries increases market uncertainty, and the risk aversion sentiment has risen. The A - share market is back to the situation where dividend - paying sectors protect the market, and the index will continue to fluctuate between 3400 - 3500 points, with expected market divergence today [2][9]. 2. Futures Market Tracking - Data on the performance, trading volume, and open interest of various stock index futures contracts such as Shanghai 50, CSI 300, CSI 500, and CSI 1000 are presented, including closing prices, settlement prices, price changes, trading volume changes, and open interest changes [11][12]. 3. Spot Market Tracking - The performance of various spot market indexes such as the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index is presented, including current points, daily, weekly, and monthly percentage changes, and trading volume. The impact of market styles on major indexes is analyzed, and data on the valuation of important indexes and Shenwan sectors are provided [33][34][35]. 4. Liquidity Tracking - Data on central bank open - market operations and Shibor interest rates are presented, including currency injection, withdrawal, and net injection, as well as different - term Shibor interest rates [49][50][51].