股市，突变！

Core Viewpoint - The market is experiencing a rotation of funds towards AI, semiconductors, and robotics, despite a general decline in major indices on July 25 [1][2]. Group 1: Market Performance - On July 25, both A-shares and Hong Kong stocks saw a decline, with major indices experiencing a small drop in the afternoon [2]. - The afternoon trading saw a significant increase in the AI ETF and robotics ETF, both rising over 1%, while the ChiNext 50 index surged over 2% [1][4]. - Notably, Cambrian's stock price increased by over 15%, marking it as a key player in the previous tech stock rally [1][4]. Group 2: Sector Rotation - The semiconductor sector in Hong Kong showed strength, with Hua Hong Semiconductor rising over 8% and SMIC and Shanghai Fudan both increasing by over 5% [4]. - The robotics sector in A-shares became active, with stocks like Rongtai Health hitting the daily limit and Weit New Materials rising over 10% [4]. - The market is witnessing a shift of funds from previous themes into technology sectors, indicating a potential new trend [4]. Group 3: Investment Outlook - Analysts suggest that the current market may be in a phase of healthy rotation rather than a new round of adjustment, with strong sector performance expected [5]. - The human-robot industry is at a critical juncture, with increasing demand driven by aging populations and rising labor costs, indicating a broad market potential [4]. - The probability of a rate cut by the Federal Reserve in September is estimated at 75%-85%, which could further influence market dynamics [6].