Group 1 - The focus of the market is on the new five-year plan and the expectation of interest rate cuts by the Federal Reserve, which will guide China's economic direction and provide investment clues for the capital market [1] - The five-year plan emphasizes the importance of technological innovation and R&D investment, shifting from a focus on the ratio of the three industries to transformation and upgrading, as well as the development of the service industry [1] - The Federal Reserve is expected to have two interest rate meetings this year, with a high probability of two rate cuts, which is generally favorable for the performance of risk assets [1] Group 2 - The market experienced a volatile rebound this week, with the Shanghai Composite Index showing an upward shift, breaking through the previous resistance level established since late August [2] - The Shenzhen Component Index lagged slightly due to significant profit-taking on Friday, while trading volume increased compared to the previous week [2] - Market hotspots are concentrated in upstream resource products and cyclical industries, with small and mid-cap stocks leading in gains, while technology stocks underperformed [2]

Group 1 - The upcoming long holiday is leading to increased investor caution, with trading activity expected to decline as investors await external market developments [1] - Post-holiday market focus will shift back to domestic economic trends, particularly on demand-side policies to stabilize economic growth and supply-side efforts to address "involution" issues, which are crucial for PPI recovery and corporate profit growth [1] - Last week, the market experienced fluctuations, with the Shanghai Composite Index testing the 30-day moving average, closing above it, while the Shenzhen Component Index showed strong performance, reaching a new high before slightly retreating [1] Group 2 - The market is currently in a consolidation phase after a period of upward movement, with the Shanghai Composite Index showing strong support above previous resistance levels from 2021 [2] - Despite the consolidation, some sector indices continue to trend upward, indicating that structural rotation remains a key characteristic of the current market [2]

Group 1 - The external environment is complex and variable, but the A-share market shows resilience. Recent geopolitical events in the Middle East have caused market fluctuations, yet A-shares managed a partial recovery, indicating strength. Domestic economic data for May is being released, and investors are focused on future policy directions and execution effects. Overall, the complex external environment and sufficient domestic policy reserves support the market [1] - The two markets experienced a rebound with decreased trading volume. On Monday, the markets opened lower but gradually rebounded, with the Shanghai Composite Index closing near its daily high, although it did not surpass the five-day moving average. The Shenzhen Component Index's short-term moving averages are converging, waiting for a breakout direction. The trading volume was around 1.2 trillion yuan, a decrease from the previous week, with more stocks rising than falling, particularly in the TMT and real estate sectors. Small and mid-cap stocks led the gains [1] Group 2 - From a market operation perspective, the Shanghai Composite Index is challenging the mid-May high, but technical resistance remains significant. After a downward adjustment in mid-May, the index found support at the 60-day moving average and began to rebound. However, it faced resistance near the mid-May high, indicating strong technical resistance in the trading volume area from last year's fourth quarter and this year's first quarter [2]