巨丰投顾表示，目前国内政策仍积极发力，预计后续政策利好仍将持续落地；A股市场已逐渐探明底 部，并呈现出中长期的投资机会。短线建议关注兼并重组、黄金、石油等涨价题材，中线建议持续关注 大消费、半导体、机器人等受益于政策支撑的行业。 长江商报消息 昨日A股市场低开高走后维持窄幅震荡，创业板指收复2000点。 太平洋证券认为，增量政策落地及公募基金改革将提升银行板块吸引力，宽松货币政策下银行红利资产 优势明显。 盘面上，黄金概念领涨，西部黄金（601069）、曼卡龙（300945）涨停。创新药板块持续活跃，舒泰神 （300204）、万邦德（002082）、千红制药（002550）、海南海药（000566）、联化科技（002250）涨 停。新消费概念盘中再度活跃，若羽臣（003010）涨停，万辰集团（300972）涨超10%，乐惠国际 （603076）、有友食品（603697）、顺灏股份（002565）涨停。银行股涨幅居前，沪农商行（601825） 涨停，渝农商行（601077）涨超5%。稳定币概念走强，恒宝股份（002104）、御银股份（002177）、 翠微股份（603123）涨停。汽车股走低，江淮汽车（6004 ...

Investment Rating - The report maintains a "Positive" investment rating for the software and services industry [8]. Core Insights - The Hong Kong Legislative Council has officially passed the "Stablecoin Ordinance," establishing a comprehensive regulatory framework for stablecoins, expected to take effect within 2025 [7][43][61]. - The computer sector experienced a slight rebound, increasing by 1.79%, ranking 6th among primary industries in the Yangtze River region, with a trading volume share of 8.85% [2][5][12]. - The report highlights investment opportunities in companies with issuance qualifications, those with technological accumulation in blockchain, and firms holding relevant licenses [7][61]. Summary by Sections Market Performance - The computer sector saw a minor rebound last week, with the Shanghai Composite Index closing at 3347.49 points, a slight decrease of 0.03% [5][12]. - The sector's trading volume accounted for 8.85% of the total market, indicating active participation in stablecoin-related concepts [2][5]. Key Developments - China Construction Bank announced a procurement project for domestic servers, with a total value exceeding 4.4 billion yuan, indicating a strong push for domestic innovation in the financial sector [19][21]. - The DeepSeek R1 model underwent a minor upgrade, significantly enhancing its reasoning capabilities, with accuracy in tests rising from 70% to 87.5% [26][29]. - The National Data Bureau held a press conference on the "Data Element X" initiative, showcasing the growing enthusiasm for data utilization and its potential economic impact [35][38]. Investment Recommendations - The report emphasizes the importance of stablecoins and suggests focusing on companies that are eligible to issue stablecoins, those with blockchain technology expertise, and firms with relevant licenses [7][61]. - It also recommends monitoring the developments in the domestic server procurement by financial institutions, which may accelerate the adoption of domestic technology solutions [25][34].

Economic Overview - The US economy is maintaining a steady expansion, with the Federal Reserve's interest rate cut expectations converging to two times (approximately 50 basis points), and the terminal rate expectation raised to 3.5% [2] - The Atlanta Fed's GDPNOW model predicts a sharp increase in the annualized growth rate of US real GDP to 4.6% in Q2, driven by a reversal in "import grabbing," with personal consumption (PCE) growth reaching 4.0% [2] - Private investment (excluding inventory) growth is at 4.4%, primarily supported by equipment (8.8%) and intellectual property (5.5%) contributions [2] - The job market remains robust, with unemployment levels stable, and initial jobless claims rising to 240,000, aligning with seasonal levels [2] Inflation and Fiscal Policy - Market concerns about inflation are easing, with the Truflation daily inflation index dropping to 1.84%, down 26 basis points from previous highs [3] - Despite ongoing rhetoric about deficit reduction, the fiscal deficit continues to expand, with weekly fiscal deficit reaching $127.5 billion, exceeding seasonal levels [3] - The Federal Reserve is unlikely to make significant policy adjustments, with expectations of a "hawkish rate cut" that emphasizes returning rates to neutral levels without indicating future policy trends [3] Overseas Strategy - Market risk appetite improved due to the suspension of Trump’s tariffs, leading to rebounds in US Treasury yields and the dollar, while gold prices fell [4] - The US stock market saw gains influenced by tariff policy changes, with corporate earnings showing resilience against economic fluctuations [4] - However, deep-rooted trade tensions remain unresolved, limiting upward potential for US stock valuations [4] Chinese Economic Insights - In April, industrial profits for large-scale industrial enterprises grew by 3.0% year-on-year, with industrial added value increasing by 6.1% [8] - The manufacturing sector shows signs of recovery, with the manufacturing PMI rising to 49.5% in May, indicating improved production and new orders [9] - Real estate transactions are entering a low season, with new home sales declining by 4.1% in May, although the decline is narrowing compared to April [9] External Demand and Trade - "Export grabbing" remains active but is losing momentum, with container shipping rates showing mixed trends across different routes [10] - The US Treasury Secretary indicated that trade negotiations between China and the US are temporarily stalled, suggesting ongoing trade tensions may impact China's foreign trade [11] Chinese Strategy: Stock and Bond Market - The bond market experienced fluctuations, with short-term funding and sentiment driving volatility [12] - The A-share market showed resilience despite a slight decline, with limited catalysts for significant movement in the near term [12] - In the context of risk appetite, funds are shifting towards stable dividend sectors, while consumer sectors are relatively weaker [13]

Core Viewpoint - The Hang Seng Index closed up 1.53%, indicating a positive market sentiment with active performance in financial stocks [1] Financial Sector - Major banks such as Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and China Merchants Bank saw nearly a 3% increase in their stock prices [1] - The overall performance of the banking sector contributed significantly to the rise in the Hang Seng Index [1] Other Sectors - The jewelry and watch, automotive, and pharmaceutical sectors also showed strong performance, with notable gains [1] - BYD Company rebounded with a 4% increase after several days of decline [1] - China Everbright Holdings surged by 15%, reflecting strong investor interest [1] - The medical sector was particularly robust, with MicroPort Scientific Corporation rising nearly 20% [1] Market Trends - The Hang Seng Technology Index also experienced a rise of 1.08%, indicating a positive trend in technology stocks [1] - Stablecoin-related stocks faced a significant pullback, with Lianlian Digital dropping over 39% [1]

A股三大指数今日集体反弹，截至收盘，沪指涨0.43%，深成指涨0.16%，创业板指涨0.48%，北证50指数涨1.03%。全市场成交额11638 亿元，较上日放量4亿元。全市场近3400只个股上涨。 板块题材上，贵金属、足球概念、游戏、银行、创新药板块领涨；钢铁、汽车整车板块跌幅居前。 盘面上，黄金概念领涨，西部黄金、曼卡龙涨停。创新药板块持续活跃，舒泰神、万邦德、千红制药、海南海药、联化科技涨停。新 消费概念盘中再度活跃，若羽臣涨停，万辰集团涨超10%，双双创历史新高，乐惠国际、有友食品、顺灏股份涨停。银行股涨幅居 前，沪农商行涨停，渝农商行涨超5%。稳定币概念走强，恒宝股份、御银股份、翠微股份涨停。汽车股走低，江淮汽车、上汽集团跌 超5%。此外，均瑶健康、合兴股份盘中上演地天板。 暗盘资金一眼洞悉庄家意图>> 热点概览： 涨停天梯榜： 【3连板】 海联金汇、翠微股份。 【2连板】 海南海药、万邦德、申科股份、哈三联、中天火箭、百利电气、中衡设计、永悦科技、共创草坪。 黄金概念： 相关个股：西部黄金、曼卡龙、潮宏基 【4连板】 御银股份、联化科技。 最强风口榜： NO.1 【电子商务】 板块内19家涨停，6 ...

Core Viewpoint - A-shares experienced a collective rebound with the Shanghai Composite Index rising by 0.48%, indicating a positive market sentiment despite a slight decrease in trading volume compared to the previous day [1] Market Performance - The three major A-share indices all showed gains: Shanghai Composite Index up 0.48%, Shenzhen Component Index up 0.35%, and ChiNext Index up 0.73% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 750.36 billion yuan, a decrease of 4.3 billion yuan from the previous trading day [1] Sector Performance - Strong performance was noted in sectors such as stablecoin concept stocks, gold stocks, cultivated diamonds, gaming, and banking [1] - Conversely, sectors that experienced declines included steel, complete automobiles, liquor, and electricity [1] Individual Stock Movements - Notable individual stock movements included West Gold hitting the daily limit, Chao Hong Ji rising over 8%, and Zhangqu Technology surging by 13% [1] - On the downside, Benxi Steel fell over 7%, Jianghuai Automobile dropped over 6%, and Shui Jing Fang decreased by over 3% [1] - Overall, more than 3,400 stocks in the market saw an increase [1]

6月3日周二，A股小幅低开，三大股指早盘震荡拉升，稳定币概念再度活跃，黄金珠宝板块活跃。港股 高开，恒指、恒科指双双上涨超1%，生物医药板块强势拉升。债市方面，国债期货普遍下跌。核心市 场走势： | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | S | 3347.84 | 0.35 | 0.01% | | 399001 | 深证成指 | VAY | 10056.12 | 15.50 | 0.15% | | 399006 | 创业板指 | 14 | 2002.31 | 9.12 | 0.46% | | 000300 | 沪深300 | V3 | 3841.13 | 0.90 | 0.02% | | 000016 | FiF50 | M | 2677.63 | -1.06 | -0.04% | | 000680 | 科创综指 | WAN | 1172.00 | 8.65 | 0.74% | | 000688 | 科创 20 | UNM | 983.19 | 6.17 | 0.63% | ...

稳定币概念股大涨 御银股份等多股涨停 智通财经6月3日电，稳定币概念股开盘大涨，御银股份、恒宝股份、翠微股份、海联金汇等涨停，雄帝 科技、四方精创、中科金财、天阳科技、拉卡拉等个股跟涨。消息面上，香港特别行政区政府于5月30 日在宪报刊登《稳定币条例》，这意味着《稳定币条例》正式成为法例。 ...

Market Overview - The Hong Kong stock market started June on a negative note, with the Hang Seng Index dropping to 23,157.97 points, down 0.57% or 131.8 points, with a total turnover of HKD 145.245 billion [1] - The Hang Seng Tech Index fell over 3% at one point but later narrowed its losses, closing down 0.7% at 5,134.11 points [1] - The market has shown signs of recovery after the "reciprocal tariffs" impact, with a significant decline in risk premiums being a key driver [1] Blue Chip Performance - Sands China (01928) led blue-chip gains, rising 4.28% to HKD 16.08, contributing 2.69 points to the Hang Seng Index [2] - Macau's gaming revenue for May reached MOP 21.193 billion, a 5% year-on-year increase, with total revenue for the first five months at MOP 97.707 billion, up 1.7% [2][5] - Other notable blue-chip movements included Chow Tai Fook (01929) up 3.22% and Galaxy Entertainment (00027) up 1.8%, while CSPC Pharmaceutical (01093) fell 4.81% [2] Sector Highlights Stablecoin Sector - The stablecoin sector surged following the enactment of the Stablecoin Ordinance in Hong Kong, with LianLian Digital (02598) rising 64.27% and Yike (09923) up 39.87% [3][4] - The ordinance aims to enhance the regulatory framework for digital asset activities in Hong Kong, with compliant stablecoins expected to launch by the end of the year [4] Gaming Sector - The gaming sector saw most stocks rise, with Sands China and Wynn Macau (01128) also posting gains [5] - Citigroup forecasts a 5% year-on-year increase in gaming revenue for June, estimating daily revenue at approximately MOP 6.17 billion [5] Gold Sector - Gold stocks performed well, with Tongguan Gold (00340) up 18.23% and other gold-related stocks also seeing gains due to rising gold prices amid geopolitical tensions [6] - Spot gold prices reached USD 3,350 per ounce, reflecting a nearly 2% increase [6] Real Estate Sector - The real estate sector faced challenges, with major developers like Agile Group (03383) and R&F Properties (02777) experiencing significant declines [7] - The top 100 real estate companies in China reported a 10.8% year-on-year drop in sales for the first five months of 2025 [7] Automotive Sector - The automotive sector is under pressure due to a new wave of price wars, with companies like GAC Group (02238) and Li Auto (02015) seeing declines [8] - The Ministry of Industry and Information Technology has expressed opposition to "cutthroat" competition in the automotive industry [8] Notable Stock Movements - Mixue Group (02097) reached a new high, closing up 7.54% at HKD 584.5, with an upgraded target price reflecting strong sales growth [9] - Alibaba Pictures (01060) rose 7.41% after announcing a name change to Damai Entertainment, indicating a strategic shift towards live events [10] - Leap Motor (09863) reported a 148% year-on-year increase in May deliveries, prompting an upgrade in sales forecasts [11] - CSPC Pharmaceutical (02005) fell 5.46% after reporting a significant drop in revenue and profit for Q1 2025 [12]

Group 1 - The concept of stablecoin stocks is showing divergence, with significant fluctuations in Hong Kong stocks, while A-shares are experiencing a different trend [1][3] - In Hong Kong, stablecoin concept stocks are primarily direct participants in the stablecoin market, while A-shares are more indirectly benefiting from the concept [1][3] - The Hong Kong Monetary Authority has announced the first batch of stablecoin issuers, including JD Coin Chain Technology and Round Coin Innovation Technology [2] Group 2 - A-share companies like Sifang Jingchuang and Lakala are included in the stablecoin concept stock list, but there is no direct evidence of their involvement in stablecoin issuance [3][5] - The recent surge in stablecoin interest is driven by legislative actions in the U.S. and Hong Kong, indicating a growing regulatory framework [6][7] - Experts highlight the long-term significance of stablecoins, emphasizing their potential to enhance payment efficiency and reduce cross-border transaction costs [7][8]