Market Overview - The Shanghai Composite Index experienced a slight decline of 0.07%, closing at 3359.9 points, while the Shenzhen Component Index fell by 0.47% to 10005.03 points, and the ChiNext Index dropped by 0.84% to 2009.89 points. The SSE 50 Index rose by 0.31% [1] - Total trading volume in the Shanghai and Shenzhen markets was 1.0919 trillion yuan, a decrease of nearly 190 billion yuan compared to the previous day [1] Sector Performance - Sectors such as oil, media, and automotive saw declines, while insurance, liquor, banking, and semiconductor sectors experienced gains. Notably, composite copper foil, new battery technologies, shipping concepts, and photolithography concepts were active [1] Investment Insights - Citic Securities indicated that the external environment remains turbulent, leading to high market rotation and a preference for certainty. The market is currently in a high emotional zone, with a focus on sectors with potential earnings surprises and those at low levels. Suggested areas of interest include consumer electronics and semiconductor materials [1] Oil Price Outlook - Following the U.S. attacks on Iranian nuclear facilities, Citic Securities anticipates significant upward pressure on oil prices, predicting Brent crude futures may break through $80 per barrel and fluctuate between $70 and $100 per barrel in the short term [2] Cobalt Price Forecast - The Democratic Republic of the Congo extended its cobalt export ban for three months to curb market oversupply. This is expected to raise market expectations for cobalt prices, potentially leading to a second wave of price increases [3] Solid-State Battery Development - The solid-state battery industry is expected to accelerate due to supportive policies and standards. Key milestones include the implementation of mandatory safety standards in 2026 and various industry conferences aimed at promoting commercialization [4] Cross-Border Payment Developments - The launch of the cross-border payment system between mainland China and Hong Kong is expected to enhance payment efficiency and reduce transaction costs, potentially leading to deeper cooperation in payment sectors and a more extensive cross-regional payment network [6][10] Medical Device Innovation - The National Medical Products Administration is implementing measures to support the innovation of high-end medical devices, including optimizing approval processes and enhancing regulatory frameworks [8] Consumer Subsidy Programs - The government will continue its "trade-in" subsidy program for consumer goods, with a total of 300 billion yuan allocated to support local initiatives throughout the year [9]