Group 1 - The external environment is marginally improving, with a rebound in domestic market risk appetite. Recent international situations have shown improvement, leading to an increase in expectations for interest rate cuts by the Federal Reserve, which has driven a general rebound in global capital markets. The domestic market has also seen a notable recovery in risk appetite, with the Shanghai Composite Index reaching a new high for the year and the Shenzhen Component Index rebounding as well [1] - The two markets experienced fluctuations with a slight decrease in trading volume. On Monday, both markets opened slightly lower but gradually rebounded, with the Shanghai Composite Index closing near its daily high and recovering its five-day moving average. The Shenzhen Component Index continued to rebound, outperforming the Shanghai market recently. The trading volume was around 1.4 trillion yuan, a decrease from the previous Friday. On a microstructural level, there were more gainers than losers, with a significant number of stocks hitting the daily limit up. The main market hotspots were concentrated in the defense, military, and TMT sectors, with small-cap and technology styles leading in gains [1] - The market rhythm indicates that the Shanghai Composite Index has broken through the small trading range from May and June, moving to a higher level. The index has surpassed the previous trading range and achieved a new high for the year. However, there remains strong technical resistance in the dense trading area from the fourth quarter of last year, and without substantial positive information, it is expected to be challenging to break through upward in one go [1]