Market Performance - The Shanghai Composite Index rose by 1.18%, reaching a 10-year high, while the ChiNext Index surged by 3.63%, surpassing last year's peak [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets was 17,467 billion, an increase of 4,196 billion compared to the previous day [1] - Over 4,400 stocks in the market experienced an increase [1] Sector Highlights - AI hardware sectors, including liquid-cooled servers, copper-clad laminates, and CPO, reached new historical highs [1] - The financial technology concept continued to see explosive growth, with strong rebounds in rare earth and short drama concepts [1] ETF Performance - AI hardware ETFs, such as Southern, Da Cheng, Hua Bao, and Hua Xia, saw increases of 6.43%, 6.4%, 6.36%, and 6.2% respectively [5] - Film and television concept stocks also experienced gains, with Silver Hua Fund and Guotai Fund ETFs rising by 6.36% and 5.89% respectively [5] - The financial technology ETF from Hua Bao Fund increased by 5.93% [5] - The Sci-Tech Growth ETF experienced a decline of 4.18% [5] - Long-term government bond ETFs saw a decrease, with the 30-year bond ETFs from Boshi dropping by 1.2% and 1.16% [5] - Precious metals sector adjusted, with gold stock ETFs declining by approximately 0.98% to 0.95% [5]

Group 1 - The A-share market experienced a significant rally on August 18, with all three major indices opening higher, and the Shanghai Composite Index surpassing 3700 points, reaching a ten-year high [1] - The market saw a strong performance in the financial technology sector, along with notable gains in AI hardware-related stocks and a rebound in rare earth and short drama concepts [1] - By midday, the Shanghai Composite Index rose by 1.18% to 3740.5 points, the Sci-Tech 50 Index increased by 3.11% to 1135.54 points, the Shenzhen Component Index climbed by 2.25% to 11896.38 points, and the ChiNext Index surged by 3.63% to 2626.29 points [1] Group 2 - A total of 4492 stocks rose while 816 declined across the two markets and the Beijing Stock Exchange, with 111 stocks remaining flat [2] - The early trading volume reached 17.22 billion yuan, with 187 stocks experiencing gains of over 9% and only 3 stocks declining by more than 9% [2] - All sectors in the market showed an upward trend, with technology stocks leading the charge, particularly in the telecommunications, computer, and electronics sectors, resulting in a wave of stocks hitting the daily limit [2] Group 3 - According to Xingsheng Strategy, the market is currently experiencing a "healthy bull" phase, driven by national strategic direction, supportive policies, and the emergence of new growth drivers, which have revitalized market confidence and attracted incremental capital [3] - CITIC Securities noted that the current slow bull market began on June 23, characterized by structural prosperity as the main driving force, with external uncertainties limiting rapid capital inflows [3] - Investor sentiment is rising quickly, with two potential scenarios for the market's evolution: a consolidation phase that slows the upward momentum or an accelerated peak due to overheating trading, which could lead to a significant correction [3]

下周IPO申购1只。述评：果然贱诺，说不会大幅增加IPO，一言九鼎。利好。 下周25股解禁，总市值超795亿元。述评：利空资金面，利空解禁股。 《求是》杂志发表重要文章《促进民营经济健康发展、高质量发展》。述评：利好民企概念。 业内：2025年第一批稀土开采、冶炼分离总量控制指标已下发。述评：利好稀土。 商务部新闻发言人就中方在世贸组织起诉加拿大钢铁等产品进口限制措施答记者问。述评：利好钢铁。 市场需求暴增！一图梳理液冷强势股逻辑。述评：利好液冷概念。 "21年老股民查股票账户"，券商营业部又热闹起来了！暴涨！A股重大信号：居民存款"搬家"。央行公 布的最新7月金融数据显示，居民存款减少1.1万亿元、企业存款减少1.46万亿元、非银存款增加2.14万 亿元。述评：开户数连创新高，利好资金面。什么时候162万亿居民存款往股市里搬得差不多了，也就 到顶了。辛辛苦苦攒个钱，最后都投到股市上，要能挣还好点儿，到顶部不知道出来，多数人的后果可 想而知。 直击2025世界人形机器人运动会：自由搏击中，高扫踢撂倒对手。世界人形机器人运动会开赛！宇树科 技夺得首金，机器人自主性仍待提升。述评：利好机器人概念、AI概念、5G通 ...

Market Performance - The Shanghai Composite Index rose by 0.5%, marking a four-day consecutive increase to reach a new high for the year [1] - The Shenzhen Component Index increased by 0.53%, while the ChiNext Index surged by 1.24%, achieving a nine-month high [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 1,905.2 billion yuan, an increase of 55.3 billion yuan compared to the previous day [1] Sector Performance - Over 2,000 stocks in the market experienced gains, with a notable resurgence in AI hardware and a strong performance across the semiconductor industry chain [1] - Cambrian Technology saw a 20% limit-up, reaching a new high, while the stablecoin concept surged in the late trading session [1] - The rare earth, PEEK materials, and military information technology sectors collectively experienced a pullback [1] ETF Movements - The Cambrian "20CM" limit-up triggered a rally in the semiconductor industry chain, with the Sci-Tech Chip ETFs from various funds, including Fortune and Guotai, rising by 4.37%, 3.71%, and 3.58% respectively [1] - AI hardware stocks also saw significant gains, with the Huafu Fund's AI ETF and Guotai's Communication ETF increasing by 3.54% and 3.33% respectively [1] - Conversely, the rare earth sector faced a decline, with the Rare Metal ETF and the E Fund Rare Earth ETF both dropping by 2% [1] - Hong Kong internet stocks experienced a pullback, with the Hang Seng Internet ETF and the Hang Seng Internet Technology ETF falling by 1.9% and 1.85% respectively [1]

Market Overview - The Shanghai Composite Index rose by 0.01%, the Shenzhen Component Index increased by 0.01%, and the ChiNext Index gained 0.06% [1][4]. Lithium Market - Lithium carbonate futures saw a significant drop, with the main contract's increase narrowing to nearly 4% after initially rising close to 10% at the opening [2][4]. - The price of lithium carbonate futures at 09:30 was reported at 84,100, with a decrease of 3,200 (3.96%) from the previous session [3]. A-shares Performance - A-shares opened higher, with the Xinjiang sector remaining active, particularly in wind power and vaccine concepts, while cyclical stocks generally retreated [4]. - The overall A-share market showed 2,118 stocks rising, 1,162 unchanged, and 2,137 declining [5]. Hong Kong Market - The Hang Seng Index opened lower, down 0.33%, with the Hang Seng Tech Index falling by 0.59%. Major tech stocks like Alibaba and Baidu dropped over 1% [6][7]. - Lithium mining stocks continued to rise, while pharmaceutical stocks remained active, with Fosun Pharma increasing by over 7% [6]. Monetary Policy - The central bank conducted a 7-day reverse repurchase operation of 114.6 billion yuan at an interest rate of 1.40%, with 160.7 billion yuan of reverse repos maturing today [8].

01 8月7日午后，稀土板块走高，稀土和稀有金属主题ETF领涨，相关成分股正海磁材（300224）"20CM"涨停。 02 8月6日（前一交易日），多只宽基ETF显著"吸金"，中证1000ETF（512100）获超12亿元资金抢筹。 03 8月7日盘后，易方达基金公告，旗下创业板50ETF易方达（159369）基金募集截止日期提前至8月8日，即自8月9日起不再接受认购申请。 稀土主题ETF强势领涨 8月7日，A股主要指数表现分化，沪指收涨0.16%，报3639.67点。 稀土板块午后发力走高，光刻机、脑机接口、汽车芯片概念轮番冲高。稀土和稀有金属主题ETF领涨，相关成分股正海磁材"20CM"涨停，宁 波韵升（600366）涨停。 | 代码 | 名称 | 当日涨幅(%) | 当日IOPV溢折率 (%) | | --- | --- | --- | --- | | 159715. SZ | 稀土ETF易方达 | 3. 50 | 0. 17 | | 159713. SZ | 稀土ETF | 3.29 | 0. 19 | | 516150. SH | 稀土ETF嘉实 | 3.14 | 0. 06 | | 516780. ...

Market Overview - The major A-share indices showed mixed performance today, with the Shanghai Composite Index rising by 0.16% to close at 3639.67 points, while the Shenzhen Component Index fell by 0.18% to 11157.94 points, and the ChiNext Index decreased by 0.68% to 2342.86 points[2]. - A total of 2117 stocks rose, while 3084 stocks fell, with 216 stocks remaining unchanged across the market[2]. Trading Volume - The total trading volume for the Shanghai and Shenzhen markets reached 182.55 billion yuan, an increase of 9.14 billion yuan compared to the previous trading day[2]. Sector Performance - Among the Shenwan first-level industries, the leading sectors included non-ferrous metals (up 1.20%), beauty care (up 0.99%), real estate (up 0.82%), textile and apparel (up 0.81%), and transportation (up 0.73%)[2]. - The sectors that experienced declines included pharmaceuticals and biology (down 0.92%), electric equipment (down 0.74%), telecommunications (down 0.47%), national defense and military (down 0.39%), and household appliances (down 0.29%)[2]. Concept Stocks - The top-performing concept stocks today included continuous boards, rare earth permanent magnets, rare earths, IGBT, and third-generation semiconductors, among others[3].

7日，沪指窄幅震荡上扬，盘中续创年内新高，连续4日收阳；脑机接口概念尾盘崛起。港股亦拉升，恒生指数一度涨近1%。 具体来看，沪指盘中维持上扬态势，盘中最高攀升至3645.12点，刷新年内高点；创业板指走势疲弱。截至收盘，沪指涨0.16%报3639.67点，深证成指跌0.18%报 11157.94点，创业板指跌0.68%报2342.86点，上证50指数翻红，沪深北三市合计成交18528亿元，较此前一日增加约930亿元。 场内超3000股飘绿，医药、保险、钢铁等板块疲弱；半导体板块拉升，东芯股份涨停续创历史新高，富满微、斯达半导等亦涨停；稀土板块午后爆发，正海磁材、 阿石创等涨停；脑机接口概念尾盘崛起，翔宇医疗涨约12%，际华集团、创新医疗双双涨停；消费电子概念上扬，胜蓝股份、卓兆点胶等涨超10%。值得注意的 是，长城军工尾盘再度涨停续创新高，年内已累计大涨近3.4倍。而5连板的倍加洁则跳水跌停，盘中上演"天地板"走势。 港股方面，康方生物跌超8%，药明生物、君实生物跌约5%，药明康德跌超4%；金沙中国涨约5%。 稀土板块爆发 稀土板块午后强势拉升，截至收盘，正海磁材、阿石创20%涨停，中科磁业涨约13%，九菱科 ...

Market Overview - The A-share market showed mixed performance today, with the Shanghai Composite Index rising by 0.16% to close at 3639.67 points, while the Shenzhen Component Index fell by 0.18% to 11157.94 points, and the ChiNext Index decreased by 0.68% to 2342.86 points [1][14] - Overall, there were 2117 stocks that rose and 3084 stocks that fell, with a total trading volume of 18255 billion yuan, an increase of 914 billion yuan compared to the previous trading day [1] Industry Performance - Among the Shenwan first-level industries, the leading sectors included non-ferrous metals, beauty care, real estate, textile and apparel, and transportation, with respective gains of 1.20%, 0.99%, 0.82%, 0.81%, and 0.73% [1][14] - Conversely, the sectors that experienced declines included pharmaceuticals and biology, electric equipment, telecommunications, national defense and military, and household appliances, with respective losses of 0.92%, 0.74%, 0.47%, 0.39%, and 0.29% [1][14] Concept Sectors - The top-performing concept sectors today included continuous boards, rare earth permanent magnets, rare earths, IGBT, and third-generation semiconductors, among others [2][11] - Sectors that saw a pullback included CRO, innovative drugs, and vitamins [11]

Macro Overview - The U.S. labor market shows signs of fatigue, with non-farm employment growth nearly stagnating over the past two months, which historically indicates economic distress or the need for intervention [4] - Despite the weak labor data, the probability of a recession remains manageable, with the New York Fed predicting a 28.71% chance of recession in the next 12 months [4] - The U.S. economy is experiencing a slowdown in consumption and investment due to high interest rates and uncertainty in tariff policies, although the overall economic resilience was strong in the first half of the year with a GDP growth rate of 5.3% [4] Domestic Policy Insights - The current policy focus is on observing the economic conditions in consumption, exports, and real estate, with a shift towards long-term mechanisms for sustainable economic development [4] - The government is expected to prioritize high-quality economic development and establish long-term sustainable growth mechanisms during the "14th Five-Year Plan" period [4] - If GDP growth falls below 4.7% in the third quarter, there may be considerations for additional policy measures [4] Market Strategy and Asset Allocation - The A-share market is expected to experience a slow upward trend, supported by strong economic fundamentals and high market activity, although valuation recovery may slow down [4] - The focus for investment should be on long-term allocations in sectors such as banking, dividends, and broad-based indices, with a cautious approach to chasing high valuations [4] - The market is witnessing a structural rotation with opportunities in themes like technology (AI, computing power, chips), military, pharmaceuticals, stablecoins, rare earths, and cyclical sectors [4] Asset Class Outlook - A-shares are viewed as relatively optimistic, while Hong Kong stocks and U.S. stocks maintain a neutral stance [6] - Credit bonds and convertible bonds are also seen as relatively optimistic, indicating a favorable outlook for fixed-income investments [6] - The outlook for commodities like oil remains cautious, reflecting ongoing uncertainties in the global market [6]