Group 1 - The recent favorable policies regarding stablecoins have ignited a surge in the global capital market, with significant stock price increases for related companies in A-shares, such as Sifang Jingchuang and Tianyang Technology, both reaching a 20% limit up [1] - Circle, known as the "first stablecoin stock," has seen its share price increase by over 300% since its listing, highlighting the growing investor interest in stablecoins [1] - The Hong Kong Legislative Council has passed the "Stablecoin Ordinance," set to take effect on August 1, which is expected to facilitate the licensing process for qualified applicants to conduct business in the stablecoin sector [1][2] Group 2 - The upcoming second policy declaration from the Hong Kong government will focus on the integration of financial services and innovation, aiming to enhance the application of digital assets and ensure their safety and flexibility in the real economy [2] - The U.S. Senate is poised to pass amendments to the "GENIUS Stablecoin Act," which mandates that stablecoins be fully backed by U.S. dollars or equivalent high-liquid assets, along with annual audits for issuers with a market cap exceeding $50 billion [2] - South Korea has proposed the "Basic Digital Asset Act," allowing companies with a capital of 5 billion KRW (approximately $367,876) or more to issue stablecoins, ensuring refunds through reserve funds [2] Group 3 - Major financial centers worldwide are establishing their digital currency systems to maintain greater monetary control in the digital finance era, with recent legislation clarifying the regulatory framework for digital assets [3] - The total market size of cryptocurrency stablecoins has surpassed $250 billion, with over $20 trillion in global stablecoin transaction volume recorded last year, indicating a growing demand for stablecoins [3] - Standard Chartered Bank predicts that the supply of stablecoins could reach $2 trillion by 2028, reflecting the robust growth of the digital asset market [3] Group 4 - The imminent passage of the U.S. stablecoin bill and Hong Kong's second digital asset policy declaration marks the entry of the global stablecoin market into a "compliance era," which is expected to provide long-term structural benefits for related concept stocks [4] - From an investment perspective, the core of the stablecoin transformation lies not in the price fluctuations of stablecoins themselves, but in identifying key players that can become critical nodes in new funding pathways, presenting historic valuation opportunities for infrastructure providers [4]

Market Overview - The Shanghai Composite Index decreased by 0.03% to 3347.49 points, while the Shenzhen Component Index fell by 0.91% to 10040.63 points, and the ChiNext Index dropped by 1.4% to 1993.19 points during the week of May 26 to May 30 [1] - In contrast, major global indices saw gains, with the Nasdaq Composite rising by 2.01%, the Dow Jones Industrial Average increasing by 1.6%, and the S&P 500 up by 1.88% [1] - In the Asia-Pacific region, the Hang Seng Index declined by 1.32%, while the Nikkei 225 rose by 2.17% [1] ETF Market Performance - The median weekly return for stock ETFs was -0.27%, with the highest performing being the E Fund ChiNext Mid-Cap 200 ETF at 2.49% [2] - The top five stock ETFs by weekly gain included the Huabao CSI Financial Technology Theme ETF (5.22%) and the Bosera CSI Financial Technology Theme ETF (4.69%) [5] - Conversely, the worst performers included the Jianxin National Standard New Energy Vehicle Battery ETF (-5.62%) and the GF CSI All-Index Automotive ETF (-5.45%) [6] ETF Liquidity - Average daily trading volume for stock ETFs increased by 4.2%, while average daily turnover rose by 0.4%, with a slight decrease in turnover rate by 0.01% [7] ETF Fund Flows - The top five stock ETFs by inflow included the Huaxia SSE Sci-Tech 50 ETF with an inflow of 376 million yuan, and the Jiashi SSE Sci-Tech Chip ETF with an inflow of 181 million yuan [9] - The largest outflows were seen in the Southern CSI 500 ETF, which had an outflow of 1.236 billion yuan, followed by the Huatai-PB CSI 300 ETF with an outflow of 1.066 billion yuan [10] ETF Financing and Margin Trading - The financing balance for stock ETFs decreased from 41.232 billion yuan to 30.940 billion yuan, while the margin balance dropped from 2.0587 billion shares to 1.6405 billion shares [12] ETF Market Size - The total market size for ETFs reached 4,097.885 billion yuan, with stock ETFs accounting for 2,947.685 billion yuan [15] - Stock ETFs represented 81.2% of the total number of ETFs and 71.9% of the total market size, indicating their dominance in the ETF market [17] ETF Issuance and Establishment - No new ETFs were issued last week, but six new ETFs were established, including the Guotai ChiNext New Energy ETF and the Invesco SSE Sci-Tech 50 Enhanced Strategy ETF [18]