Market Overview - The A-share market opened lower but closed higher, with the Shanghai Composite Index rising by 0.65% to 3605.73 points, the Shenzhen Component Index increasing by 1.21%, and the ChiNext Index up by 1.5% [1][6] - The total trading volume in the Shanghai and Shenzhen markets reached 1.84 trillion yuan [1][6] - In terms of industry performance, sectors such as beauty care, non-ferrous metals, and steel led the gains, while banking, telecommunications, and public utilities lagged [1][6] - Concept sectors like Hainan Free Trade Zone, horse racing, and duty-free shops saw increases, whereas sectors like civil explosives, F5G, and CPO experienced declines [1][6] International Market Performance - The Hang Seng Index closed up by 0.51% at 25667.18 points, marking five consecutive days of gains, while the Hang Seng Technology Index fell by 0.05% [1][6] - In the overseas markets, the three major U.S. stock indices had mixed results, with the Dow Jones down by 0.7%, the S&P 500 up by 0.07%, and the Nasdaq rising by 0.18% [1][6] - European major indices also showed mixed performance, and major Asia-Pacific indices closed with varied results [1][6]

Core Viewpoint - The Chinese government is intensifying efforts to combat the illegal export of strategic minerals, emphasizing a "zero tolerance" policy and collaboration among various governmental departments to ensure national security and interests [1][2]. Group 1: Government Actions - A special action meeting was held on July 19 in Nanning, organized by multiple government agencies, to address the issue of strategic mineral smuggling [1]. - The meeting served as a progress summary and a re-deployment of efforts following a similar meeting held on May 9 in Shenzhen [1]. - The government has reported the arrest of several suspects involved in illegal export cases, showcasing a strong enforcement presence [1]. Group 2: Future Initiatives - The next phase of the special action will include establishing a joint law enforcement coordination center for dual-use items and publishing typical enforcement cases [2]. - A compliance export guideline for strategic minerals will be developed to assist companies in conducting due diligence and preventing misuse for military purposes [2]. - The government aims to include non-compliant foreign entities in an export control list to enhance regulatory measures [2]. Group 3: Importance of Strategic Minerals - Strategic minerals are crucial for national security and the development of emerging industries, with examples including gallium, germanium, lithium, tungsten, and rare earth elements [2]. - China holds a significant advantage in the global supply of strategic minerals, with reserves of tungsten, antimony, and gallium ranking first in the world [2].

Report Industry Investment Rating No relevant content provided. Core View of the Report - In the overnight night - market, domestic futures showed a positive trend overall, while international oil prices declined slightly, and other commodities had mixed performances. In the financial market, A - share listed companies' performance was differentiated, and the brokerage industry had good performance. The domestic industrial product futures prices were rebounding, and the scale of bond ETFs reached a new high. [2][3][40] Summary by Related Catalogs Overnight Night - Market Trends - Domestic futures: Most domestic futures contracts closed higher on Friday night. Soda ash and glass rose over 4%, coking coal rose over 3%, and several other commodities like PVC and caustic soda rose over 2%. However, soybeans and cotton declined slightly. [2] - International precious metals: COMEX gold futures rose 0.30% to $3355.50 per ounce, with a weekly decline of 0.25%; COMEX silver futures rose 0.32% to $38.43 per ounce. [2] - International oil prices: WTI crude futures fell 0.30% to $66.03 per barrel, with a weekly decline of 3.54%; Brent crude futures fell 0.42% to $69.23 per barrel, with a weekly decline of 1.61%. [3] - London base metals: All London base metals closed higher. LME zinc rose 3.18% and 3.12% weekly; LME aluminum rose 2.33% and 1.34% weekly. [4] - International agricultural products: Most international agricultural product futures rose. US soybeans rose 0.56%, US corn rose 1.74%, US soybean oil fell 0.75%, US soybean meal rose 1.97%, and US wheat rose 2.53%. [5] Important News Macroeconomic News - Trump criticized the Fed's high - interest - rate policy, believing it was harming the real estate market. He thought the US should have a 1% interest rate. [8] - The Ministry of Industry and Information Technology plans to introduce a stable - growth work plan for ten key industries. [8] - Shipping indices declined. The Shanghai Export Containerized Freight Index dropped 86.39 points, and the China Containerized Freight Index fell 0.8%. [8] - The US - China economic and trade relationship has experienced ups and downs, but both sides are still important trading partners, and cooperation is the right path. [9] - The government will regulate the new - energy vehicle industry competition order. [9] - The July auto market demand weakened, and the expected monthly sales of passenger cars were about 1.9 million. [11] - The US and the EU have disputes over tariffs, and the EU is preparing a retaliatory plan. [11] - Iran will hold a new round of negotiations with three European countries. [12] - The third - round Russia - Ukraine negotiation will be held in Istanbul. [13] - The G20 finance ministers and central bank governors emphasized the importance of central bank independence and the challenges faced by the global economy. [16] - China will crack down on the smuggling of strategic minerals. [17] Energy and Chemical Futures - The EU extended the natural - gas storage requirement for two more years. [19] - Zhengzhou Commodity Exchange announced the delivery area and premium/discount for propylene futures. [21] - Methanol inventory in East China ports increased, and rubber inventory in Osaka Exchange decreased. [22] - The EU passed the 18th round of sanctions against Russia, targeting the banking, energy, and military - industrial sectors. [23] Metal Futures - Mining activities in Myanmar's Wa State are expected to resume. [25] - The average price of polysilicon was 46.2 yuan/kg, with a profit of 6.1 yuan/kg. [26] - Copper, aluminum, zinc, lead, nickel, and tin inventories in the Shanghai Futures Exchange increased. [27] - A nickel - iron smelting park in Indonesia suspended production, which may affect the monthly output by about 1900 metal tons. [29] Black - Series Futures - A coal mine in Changzhi restarted production but has not reached full capacity. [31] - Canada will adjust its steel import tariff policy, which China opposes. [31] - Coal mines in Lvliang stopped or reduced production due to environmental inspections and production problems. [31] - The China Iron and Steel Association proposed measures to prevent over - capacity. [32] - Steel inventories increased, with an increase in construction steel and a decrease in hot - rolled coils. [32] Agricultural Product Futures - Imported cotton inventory decreased. [35] - Oil - mill soybean crushing volume was lower than expected. [35] - Australia may export experimental rapeseed to China. [35] - Pig - farming profits changed, with self - breeding and self - raising still profitable but at a lower level, and purchasing piglets resulting in losses. [35] - Sugar prices remained high in Pakistan. [35] - Trichlorosucrose producers had extended shutdowns. [36] - Malaysian palm - oil exports decreased in July. [37] Financial Market Finance - Among the 1540 A - share listed companies that disclosed semi - annual performance forecasts, 43.77% were positive, and the performance was differentiated. [40] - All 29 listed securities firms that disclosed semi - annual performance forecasts were positive, mainly due to the improvement of core business income and the recovery of overseas business. [40] - CITIC Securities believes that A - shares are becoming an incremental market, and post - mid - report season overseas investment may be a new direction. [40] - CITIC Construction Investment believes that the A - share market's structural differentiation will continue, and new tracks are crucial. [41] Industry - The Third China International Supply - Chain Promotion Expo was successful, with more participants and cooperation agreements. [42] - The Beijing real - estate market had an uneven recovery in the first half of 2025. [43] Overseas - The US Treasury Secretary advised Trump not to fire the Fed Chairman. [45] - Japan's ruling coalition lost its majority in the Senate. [45] - Russia and Ukraine may hold a new round of negotiations in Istanbul. [45] International Stock Market - The next two weeks are the peak period for US stock earnings reports. [46] - NVIDIA's CEO Huang Renxun has been reducing his holdings of NVIDIA stocks, with a cumulative套现 of $215 million since June 20. [46][47] Commodity - Domestic industrial product futures prices are rebounding, and they are expected to continue the upward trend, but there are risks of adjustment after rapid price increases. [48] Bond - The scale of the first batch of 10 science - innovation bond ETFs has grown significantly, and the total scale of bond ETFs may have exceeded 5000 billion yuan. [49]

Market Overview - On July 10, A-shares saw collective gains with the Shanghai Composite Index rising by 0.48% to 3509.68 points, the Shenzhen Component Index increasing by 0.47% to 10631.13 points, and the ChiNext Index up by 0.22% to 2189.58 points. The Northbound 50 Index fell by 0.16% [2][3] - The total market turnover was 151.5 billion yuan, a decrease of 12.4 billion yuan from the previous day, with over 2900 stocks rising [2] Sector Performance - The leading sectors included silicon energy, real estate, rare earth permanent magnets, diversified finance, and weight loss drug concepts, which saw significant gains [2] - Conversely, sectors such as PCB, gaming, storage chips, and cross-border payment experienced declines [2] International Market - The New York stock market indices rose on July 10, with the Dow Jones Industrial Average up by 192.34 points (0.43%) to 44650.64 points, the S&P 500 up by 17.20 points (0.27%) to 6280.46 points, and the Nasdaq Composite up by 19.33 points (0.09%) to 20630.67 points [3] - In Europe, the FTSE 100 increased by 1.23% to 8975.66 points, while the CAC 40 rose by 0.30% to 7902.25 points. The DAX index fell by 0.38% to 24456.81 points [3] Commodity Prices - International oil prices fell on July 10, with light crude oil futures for August down by $1.81 to $66.57 per barrel (a 2.65% decrease) and Brent crude for September down by $1.55 to $68.64 per barrel (a 2.21% decrease) [4] Government Actions - The Ministry of Commerce announced a special action to combat the smuggling and export of strategic minerals, including antimony and gallium, emphasizing the importance of export controls for these dual-use materials [6] - The Ministry of Commerce also indicated ongoing communication with the U.S. regarding trade negotiations, aiming for stable and healthy economic relations [6] Pension Adjustments - The Ministry of Human Resources and Social Security announced a 2% increase in basic pensions for retirees starting January 1, 2025, reflecting considerations of price changes and wage growth [8] Institutional Insights - According to Everbright Securities, the market may reach new highs in the second half of the year, driven by fundamental improvements and liquidity [12] - China Merchants Securities noted that the capital market's bottom is solid, with potential upward breakthroughs in equity markets [12] Focus Announcements - Good Products announced a suspension of trading due to a planned change in control by its major shareholder [13] - WuXi AppTec expects a 44% year-on-year increase in adjusted net profit for the first half of the year, estimated at approximately 6.315 billion yuan [13] Fund Flow - The top sectors for net inflow included small metals, photovoltaic equipment, and real estate development, with notable inflows into Northern Rare Earth and Sunshine Power [14] - Conversely, the electronic components and software development sectors experienced significant net outflows [14] Individual Stock Flow - Northern Rare Earth saw a net inflow of 1.18 billion yuan, with a price increase of 10.02% [15] - BYD faced a net outflow of 999.2 million yuan, with a price decrease of 1.4% [15]

央视网消息：每天8点，央视网为您梳理24小时内发生在咱们身边的大小事儿。 ·商务部新闻发言人就打击关键矿产转运和走私行为的问题回应，锑和镓等战略矿产具有明显军民两用属性，为坚决防止非法外流，今年5月，我国已部署开 展打击战略矿产走私出口专项行动。 ·今年我国夏粮实现稳产丰收，总产量14973.8万吨（2994.8亿斤）。 ·被指出征东亚杯行李多，国足回应：51人托运140件，装备行李为必要物资。 ·人力资源社会保障部、财政部发文，2025年退休人员基本养老金上调2%。 ·上半年我国汽车产销量首次双超1500万辆。 ·上半年全国新发现矿产地38处，同比增长31%。其中大中型25处，重要矿种找矿取得重大突破。 ·交通运输部：6月城市轨道交通新增运营里程149.3公里，新增运营线路4条。 ·计划检查100家，八部门将开展检验检测机构监督抽查。 ·"北气南下"输气量破千亿立方米。 ·川渝贵滇闽陕等地25条河流发生超警以上洪水。 ·完成抗旱保供、腾库迎汛等目标，今年黄河调水调沙水库调度结束。 ·就"乌克兰称拘留两名中国公民，并指控其试图将导弹技术走私出境"一事，外交部发言人表示，在核实了解有关情况，如涉及中国公民，将依 ...

Group 1 - The US and China have committed to a series of measures by May 14, 2025, including modifying and canceling tariffs on each other's goods and suspending or canceling non-tariff countermeasures [1] - The People's Bank of China and four other departments have proposed increased support for the marine industry, commercial aerospace, and the integration of key digital technologies like blockchain and artificial intelligence in Nansha [2] - Sichuan has proposed to accelerate the implementation of the province's first invasive brain-computer interface surgery and support its inclusion in the medical service system, aiming for key breakthroughs in the industrial chain by 2027 [3] Group 2 - Morgan Stanley's report indicates that US hedge funds increased their bullish bets on Chinese stocks last week while reducing positions in Thailand, India, and Australia [4] - China has launched a special campaign to combat the smuggling and export of strategic minerals, with recent actions including the implementation of export controls on heavy rare earths [5] - Zhaowei Electromechanical announced that its shareholder Qingmo Investment plans to reduce its stake by no more than 1.5% [6] - China CRRC recently signed significant contracts totaling 54.74 billion yuan [6] - Lijun Co., which has seen four consecutive trading limit increases, stated that its current operating conditions are normal and there are no undisclosed significant matters [6] - Kweichow Moutai has no plans for a Hong Kong listing at this time [6]