Core Viewpoint - The performance of the Hong Kong stock market has a significant impact on the A-share market, with recent declines in the Hang Seng Index raising concerns for investors ahead of the A-share market's opening [1][3][6] Group 1: Market Performance - The Hong Kong stock market experienced a sharp decline, with the Hang Seng Index and Hang Seng Tech Index both opening lower, causing anxiety among investors [1] - A-share market showed a pessimistic trend before the holiday, with over 4,000 stocks declining and the number of stocks hitting the daily limit falling to around 50 [3] - The A50 futures index dropped over 2% at one point, indicating a weakening sentiment in the market [6] Group 2: External Influences - The overall performance of Asian stock markets was poor, with the Nikkei 225 index falling over 1% and the Korean Composite Index also declining [3] - External factors, including changes in the U.S. stock index futures and rising gold prices, have led to increased risk aversion among investors [6] Group 3: Upcoming Events - June is expected to be eventful for the A-share market, with significant events such as the optimization of the ChiNext Index and the Lujiazui Forum scheduled for mid-June [5] - The Federal Reserve's upcoming meeting could also have a profound impact on global capital markets, influencing A-share performance [5] Group 4: Market Outlook - The performance of the Hong Kong market may lead to a cautious opening for the A-share market, with the potential for a low opening followed by a recovery depending on the willingness of new capital to enter the market [3][8] - Despite short-term challenges, the A-share market is likely to remain in a trend of oscillating upward movement, with opportunities arising from sector rotations and increased trading volume [8]

Group 1 - The A-share market shows signs of recovery, with major indices experiencing a low open and a strong upward trend, indicating a potential market rebound [1] - The recent increase in the Shanghai Composite Index and the Shenzhen Component Index is attributed to significant inflows of capital, particularly into the CSI 300 ETF and the SSE 50 ETF, with nearly 30 billion yuan invested in a few days [3] - Market sentiment has improved, leading to a broad-based rally, as evidenced by a shift from net outflows to net inflows of funds, including foreign capital [3][4] Group 2 - The protective capital has been active, particularly after the Shanghai Composite Index fell below 3000 points, providing strong support at the 2900-point level, increasing the likelihood of a rebound above 3000 points [4] - July marks the reporting period for half-year results, with expectations that many leading companies will report growth, which could further boost stock prices and indices [4][6] - The current market is characterized by low trading volume and prices, indicating a potential turning point, with limited downside risk if the market does not break below 2900 points [4][6]