Key Points - The A-share market experienced a slight rebound from June 3 to June 6, 2025, with the Shanghai Composite Index, ChiNext, and Shenzhen Component Index rising by 1.13%, 2.32%, and 1.42% respectively. The average daily trading volume reached 1.2 trillion, a 10.5% increase compared to the previous week [14][2] - The "technology narrative" is regaining focus, with upcoming events such as the DeepSeek-R1 upgrade and major developer conferences expected to drive a rebound in the tech sector. The core of this narrative lies in the emergence of popular applications or significant technological advancements [15][3] - The "seesaw effect" in innovative drugs and new consumption sectors indicates a shift in market sentiment, often occurring during policy formulation or data vacuum periods. Historical patterns suggest that speculative phases are transitional, with a return to performance-driven stocks once clearer policy signals and economic data emerge [16][3] - The Shanghai Stock Exchange is promoting increased dividend payouts and frequency among listed companies, recognizing the growing importance of dividend assets in long-term capital allocation. This initiative aims to enhance company investment value and diversify the product supply of dividend index-related products [17][18] Fund Performance Tracking - The Active Equity Fund Selection Index rose by 1.70% last week, achieving a cumulative excess return of 11.55% since inception [4] - The Value Equity Fund Selection Index increased by 0.76%, with a cumulative excess return of -4.69% since inception [5] - The Balanced Equity Fund Selection Index saw a rise of 1.91%, with a cumulative excess return of 4.48% since inception [6] - The Growth Equity Fund Selection Index rose by 2.31%, achieving a cumulative excess return of 14.96% since inception [7] - The Pharmaceutical Equity Fund Selection Index increased by 2.41%, with a cumulative excess return of 18.85% since inception [8] - The Consumer Equity Fund Selection Index rose by 1.49%, achieving a cumulative excess return of 15.32% since inception [9] - The Technology Equity Fund Selection Index increased by 2.72%, with a cumulative excess return of 12.00% since inception [10] - The High-end Manufacturing Equity Fund Selection Index rose by 2.48%, with a cumulative excess return of -2.35% since inception [11] - The Cyclical Equity Fund Selection Index increased by 2.14%, achieving a cumulative excess return of 3.32% since inception [12]