Core Viewpoint - The article discusses the active performance of the Hong Kong Stock Connect Dividend ETF (Guangfa, 520900) as the Chinese New Year approaches, highlighting the debate between holding stocks versus cash during the holiday period [1] Group 1: Market Sentiment and Recommendations - CITIC Securities believes that external disturbances have not significantly impacted the fundamental aspects of the Chinese industry, and the concentrated cooling operations have ended, suggesting that market sentiment has been fully released and adjustments are adequate, with a potential continuation of the spring market rally after the holiday [1] - Guangfa Securities indicates that during a bull market, every time the Wind All A Index falls below the 20-day moving average, it typically presents a good opportunity to increase positions within about a week, encouraging investors to regain confidence and prepare for the first wave of the market's upward cycle in the Year of the Horse [1] - Galaxy Securities notes that pre-holiday market hotspots are experiencing phase rotation, with low volatility and high dividend sectors such as dividends, banks, and consumer stocks likely to continue attracting funds, suggesting a balanced allocation as the market may maintain a range-bound fluctuation [1] Group 2: Investment Products - The Hong Kong Stock Connect Dividend ETF (Guangfa, 520900) and its offshore links (022719/022720) provide investors with a convenient entry point to allocate to Hong Kong dividend assets, allowing for a combination of stable returns and long-term value [1]

广发策略研报表示，虽然近期市场的回调，让部分投资人开始对市场的情况有所担忧，但是目前4000点 左右的位置，建议大家重拾信心、重整旗鼓，备战马年的第一波上涨周期。展望后续1-2个月，A股很 可能迎来一段"天时地利人和"的上涨机会。 天时：2月开始，春季躁动迎来胜率最高的阶段。历史看， 2月份及春节前后是春季躁动日历效应最强阶段。市场高胜率、小盘风格占优。以小盘指数为例，在春 节到两会之间上涨概率为100%，在2月上涨概率为87.5%。 地利：年报预告靴子落地后，基本面负面扰 动告一段落。自上而下来看，在1月底披露完毕的25年年报预告中，低预期、亏损或负增公司数量占比 均较24年再创新高。随着这些负面财报信息的靴子落地和逐步消化，2月开始，市场"轻装上阵"，负面 基本面冲击告一段落。 人和：牛市趋势中，每次万得全A指数跌破20均线后一周左右，往往是加仓良 机。 ...

Group 1 - The global precious metals market is at a turning point, with gold expected to rise to $5,000 per ounce and silver to $100 per ounce in the first quarter of 2026 [1][2] - Key drivers of this bullish trend include heightened geopolitical risks, supply shortages in the physical market, and renewed doubts about the independence of the Federal Reserve, which have collectively increased the premium on safe-haven assets [1][2] - Silver is anticipated to outperform gold due to the tightening conditions in the physical market, supported by the uncertainty surrounding the "Section 232" tariff rulings on critical minerals [3] Group 2 - Basic metals may gradually replace precious metals as the main players in the commodity market cycle, with aluminum and copper expected to show resilience in the second half of 2026 due to strong industrial demand [2][3] - Tactical selling may occur due to policy fluctuations, but each dip should be viewed as a buying opportunity within the overall bullish trend [4]

日本政府周一公布的数据显示，日本5月实际薪资创下近两年来最快下滑速度，因持续的通胀升速继续 快于工资增速，并阻碍日本的经济增长。 金价连续两个月震荡调整收取高位见顶形态，本月走势也偏向倒垂或回落，附图指标多头信号连续减 弱，将会继续增强见顶预期，暗示后市有跌至3000美元或2600美元附近的风险。不过，目前走势仍运行 在5月均线上方，在跌破此支撑之前，暂继续维持牛市看涨趋势不变； 尽管上周一份劳工组织报告显示，日本工会工人平均薪资创下34年来的最大升幅，但在美国贸易关税的 不确定性下，整体薪资数据疲软，引发人们对日本经济复苏的担忧。 今日周一（7月7日)亚盘时段，现货黄金目前交投于3306.29美元附近，截至发稿，现货黄金暂报3313.91 美元/盎司，下跌0.63%，最高触及3342.43美元/盎司，最低下探3306.29美元/盎司，成交量.目前来看， 现货黄金短线偏向看跌走势。 根据日本厚生劳动省的数据，经通胀调整后，5月实质薪资较上年同期下降了2.9%，这是自20个月以来 的最大降幅，而4月经修正后的数据为下降2.0%。实质薪资连续第五个月出现下降趋势。作为家庭购买 力的关键决定因素，实质薪资的持续下降 ...