国信证券(香港)·资讯日报 股票市场概览 港股市场表现 美股市场表现 | 年 日 2025 7 | 月 | 2 | | | | | --- | --- | --- | --- | --- | --- | | 资讯日报 | | | | | | | 海外市场主要股市上日表现 | | | | | | | | | | | 升跌（%） | | | 指数名称 | | | 收市价 | 单日 | 年内 | | | | 单日 | 年内 | | --- | --- | --- | --- | | 恒生指数 | 24,072 | (0.87) | 20.00 | | 恒生国企 | 8,678 | (0.96) | 19.05 | | 恒生科技 | 5,303 | (0.72) | 18.68 | | 美国道琼斯 | 44,495 | 0.91 | 4.59 | | 美国标普 500 | 6,198 | (0.11) | 5.38 | | 美国纳斯达克 | 20,203 | (0.82) | 4.62 | | 德国 DAX | 23,673 | (0.99) | 18.91 | | 法国 CAC | 7,663 | (0.04) | ...

Market Overview - The A-share market showed mixed performance on July 2, with the Shanghai Composite Index down 0.09% to 3454.79 points, the ChiNext Index down 1.13% to 2123.72 points, and the Shenzhen Component Index down 0.61% to 10412.63 points [1] - A total of 1943 stocks rose while 3282 stocks fell, with a total trading volume of 13769 billion yuan, a decrease of 892 billion yuan from the previous trading day [2] Sector Performance - Marine economy stocks surged, particularly in aquaculture and deep-sea technology, with several stocks hitting the daily limit [4] - The steel sector saw a rebound in the afternoon, with stocks like Shengde Xintai and Chongqing Steel reaching their daily limit [4] - The banking sector remained active, with major banks like China Construction Bank and Shanghai Pudong Development Bank reaching historical highs [4] - Semiconductor stocks experienced significant declines, with several companies dropping over 6% [4][5] Future Market Expectations - Zhongyuan Securities predicts a steady upward trend for the A-share market in the short term, supported by increased long-term capital inflow and stable ETF growth [6] - Yingda Securities suggests a relatively positive mid-term market outlook, with expectations of continued upward movement due to financial support policies and potential interest rate cuts from the Federal Reserve [6] - Dongguan Securities notes that the upcoming half-year report disclosures and policy expectations will enhance market drivers [6] - Overall, the market is expected to experience fluctuations, with potential opportunities in sectors like new consumption, media, and non-bank financials [7][8]

Group 1 - The domestic equity market showed an increase in risk appetite in June, with technology growth and large financial sectors performing well under external shocks [1] - The market is expected to maintain a high-level oscillation in July, with mid-year report forecasts becoming an important short-term sentiment indicator [1][2] - The upcoming July 9 deadline for the 90-day tariff suspension may impact the A-share market, with mixed negotiations ongoing between the US and other countries [1][2] Group 2 - The July Politburo meeting is anticipated to address short-term economic pressures, with expectations for fiscal policy to support the real estate market [2] - The July mid-year report preview season is approaching, with recent market sentiment being pessimistic despite structural improvements in corporate fundamentals [2] - The Federal Reserve's July meeting is expected to maintain a cautious stance on economic outlook and inflation, with a focus on the impact of tariffs on inflation in July and August [2][3] Group 3 - The consumption sector is expected to benefit from policies aimed at boosting demand, with strong expectations for structural opportunities in the consumer industry [3] - Dividend assets are likely to perform well due to low interest rates and stable fundamentals, attracting long-term capital [3] - Gold and defense-related assets remain attractive due to geopolitical uncertainties, with a focus on their defensive value [3] - The innovative pharmaceutical sector is poised for a catalytic period, benefiting from favorable policies and stronger support for high-quality development [3]

Summary of Key Points Core Viewpoint - As of July 1, the latest market financing balance reached 1,841.902 billion yuan, showing an increase of 3.753 billion yuan compared to the previous trading day, with 20 out of 31 industries experiencing an increase in financing balance [1]. Industry Financing Balance Changes - The electronic industry saw the largest increase in financing balance, rising by 1.450 billion yuan to a total of 213.092 billion yuan [1]. - Other industries with notable increases include: - Defense and military industry: increased by 0.507 billion yuan to 66.669 billion yuan - Non-ferrous metals: increased by 0.486 billion yuan to 78.648 billion yuan - Machinery equipment: increased by 0.422 billion yuan to 94.931 billion yuan [1]. - Conversely, 11 industries reported a decrease in financing balance, with the computer industry experiencing the largest drop of 0.623 billion yuan to 1,410.87 billion yuan [2]. Percentage Changes in Financing Balance - The comprehensive industry recorded the highest percentage increase in financing balance at 1.30%, totaling 3.319 billion yuan [1]. - Other industries with significant percentage increases include: - Retail: 1.06% increase - Real estate: 0.93% increase - Beauty care: 0.91% increase [1]. - Industries with the largest percentage decreases include: - Petroleum and petrochemicals: decreased by 0.75% - Coal: decreased by 0.50% - Textile and apparel: decreased by 0.46% [1][2].

Core Insights - The latest financing balance for the ChiNext market is 359.29 billion yuan, with a week-on-week increase of 0.82 billion yuan, indicating a positive trend in financing activities [1][2] - A total of 464 stocks in the ChiNext saw an increase in financing balance, with 37 stocks experiencing a growth of over 10% [1][3] - The stocks with the highest financing balance increase include Hengyu Xintong, which saw a 116.63% increase, and others like Tengya Precision and Ruina Intelligent, with increases of 101.08% and 43.49% respectively [1][3] Financing Balance Increase - The total margin balance for ChiNext stocks reached 360.33 billion yuan, marking an increase of 0.83 billion yuan from the previous trading day [1] - The average increase in stock prices for those with a financing balance increase of over 10% was 1.43%, with notable gainers including Yipin Hong and Taotao Automotive, which rose by 14.72% and 14.71% respectively [1][2] Financing Balance Decrease - A total of 469 stocks experienced a decrease in financing balance, with 12 stocks showing a decline of over 10% [4][5] - The stock with the largest decrease in financing balance was Minbao Optoelectronics, which fell by 32.37%, followed by Hopu Co. and Ruijie Network with declines of 25.71% and 18.60% respectively [4][5] Capital Flow - On July 1, 17 stocks with increased financing balance saw net inflows of main funds, with Yipin Hong and Taotao Automotive leading with net inflows of 168 million yuan and 68.16 million yuan respectively [2] - Conversely, 20 stocks experienced net outflows, with the largest outflow seen in Chenxi Aviation, which had a net outflow of 358 million yuan [2]

Market Overview - On July 1, the Shanghai Composite Index rose by 0.39%, with the total margin trading balance reaching 1,854.563 billion yuan, an increase of 4.111 billion yuan from the previous trading day [1] - The margin trading balance in the Shanghai market was 935.827 billion yuan, up by 1.786 billion yuan; in the Shenzhen market, it was 912.867 billion yuan, an increase of 2.269 billion yuan; and in the Beijing Stock Exchange, it was 5.869 billion yuan, up by 0.055 billion yuan [1] Industry Analysis - Among the industries tracked by Shenwan, 20 sectors saw an increase in margin trading balances, with the electronics sector leading with an increase of 1.450 billion yuan, followed by the defense and military industry and non-ferrous metals, which increased by 0.507 billion yuan and 0.486 billion yuan, respectively [1] Stock Performance - A total of 1,844 stocks experienced an increase in margin trading balances, accounting for 50.10% of the total, with 328 stocks seeing an increase of over 5% [1] - The stock with the largest increase in margin trading balance was Hengyu Xintong, which had a latest margin balance of 45.283 million yuan, reflecting a 116.63% increase, although its stock price fell by 0.12% on the same day [1] - Other notable stocks with significant increases in margin trading balances included Tengya Precision and Juneng Co., with increases of 101.08% and 73.33%, respectively [1] Top Gainers and Losers - Among the top 20 stocks with the largest increases in margin trading balances, the average stock price rose by 1.88%, with notable gainers including Taotao Automotive, Jixin Technology, and Xiangyu Medical, which saw increases of 14.71%, 9.98%, and 8.11%, respectively [2] - Conversely, the stocks with the largest declines included Hongyu Packaging, Kelon New Materials, and Tengya Precision, with declines of 5.72%, 4.08%, and 3.91%, respectively [2] Margin Trading Balance Declines - In contrast to the stocks with increased margin trading balances, 1,837 stocks saw a decrease, with 225 stocks experiencing a decline of over 5% [4] - The stock with the largest decrease in margin trading balance was Huawi Design, which saw a decline of 35.29%, bringing its latest margin balance to 5.819 million yuan [4] - Other stocks with significant declines included Minexplosion Optoelectronics and Jibeier, with decreases of 32.37% and 27.68%, respectively [4]

来源：e公司 继6月30日晚间发布股票交易严重异常波动公告后，长城军工（601606）7月1日晚间再度提示 风险。 盘面上，7月1日该公司股价午后再度冲至涨停，报收31.96元/股，单日涨幅10.02%。这已是该公 司股价近10个交易日来收获的第8个涨停板。 7月1日晚间公告中长城军工表示，截至当日收盘，公司股票连续10个交易日内（2025年6月18日至 7月1日）4次出现《上海证券交易所交易规则》规定的同向异常波动情形，根据有关规定，属于股票 交易严重异常波动情况。 目前，公司股票波动严重异常，存在市场情绪过热的情形，可能存在非理 性炒作，公司股票击鼓传花效应十分明显，交易风险极大，存在短期大幅下跌的风险。敬请广大投资 者理性投资，注意投资风险。 经测试，长城军工股票近10个交易日累计涨幅达131.76%，同期国防军工（申万）行业指数累计涨 幅为9.25%，同期上证指数累计上涨1.68%；公司股票短期涨幅严重高于同期行业指数及上证指数 涨幅，但公司基本面没有重大变化，也不存在应披露而未披露的重大信息。截至2025年7月1日收 盘，公司股票收盘价处于历史高位；当日成交额46.94亿元，成交量较大。 此外，根据 ...

东进航科曾挂牌新三板，2024年8月召开股东大会投票决定终止挂牌。 苏州规划（301505）7月1日晚间公告称，公司拟以发行股份及支付现金的方式，购买北京东进航空科技 股份有限公司(下称"东进航科")控股权，并募集配套资金。因有关事项尚存不确定性，公司股票自2025 年7月2日起停牌。 东进航科成立于2001年，注册资本为4710万元，大股东为张宁，该公司是军航、民航及通用航空空中交 通管理领域通信、导航、监视系统(设备)的专业制造商。其最近中标项目多和低空经济相关。 张宁为中国通用航空领域资深从业者，清华大学无线电系半导体器件与物理专业1987届毕业生。2001年 参与创立东进航科并长期担任董事长，带领企业开发民航通信导航设备，打破国外技术垄断。2022年1 月卸任董事长职务后仍担任公司董事及高管。 东进航科2021年实现营收5484.31万元，亏损309.62万元。2023年东进航科实现营业收入5562.88万元， 同比增长9.21%，亏损743.06万元，亏损同比扩大214.2%，基本每股收益为-0.18元。 东进航科官网显示，公司是一家专业从事军民航空管电子设备研发、生产、销售以及低空飞行服务保障 系 ...

兴业期货日度策略：2025.07.01 重点策略推荐及操作建议： 商品期货方面：氧化铝、纯碱、玻璃宜持空头思路。 联系电话：021-80220262 操作上： 品种基本面分析及行情研判： | 品种 观点及操作建议 方向研判 | | | 分析师 | 联系人 | | --- | --- | --- | --- | --- | | 市场情绪积极，股指震荡上行 股指 震荡偏强 | | | | | | 周一 A 股再度震荡走强，科创板块领涨，沪深两市成交额维持 | | | | | | 在 1.52（前值 1.58）万亿元左右。从行业来看，国防军工、传媒 | | | | | | 版块领涨，银行、非银金融行业跌幅居前。股指期货随现货走强， | | | 投资咨询部 | | | IC、IM 期货涨幅弱于现货指数，贴水再度走阔，基差回落至上周 | | | 张舒绮 | 联系人：房紫薇 | | 同期水平。 | | | 从业资格： | 021-80220135 | | 国内方面，6 月 PMI 指数较上月上升 0.2%，我国经济景气水 | | | F3037345 | 从业资格： | | 平总体保持扩张；海外方面，临近美国对等关税暂停 ...

主力资金净流出的行业有23个，计算机行业主力资金净流出规模居首，全天净流出资金83.95亿元，其 次是电力设备行业，净流出资金为51.63亿元，净流出资金较多的还有国防军工、非银金融、传媒等行 业。 通信行业今日下跌0.45%，全天主力资金净流出16.23亿元，该行业所属的个股共127只，今日上涨的有 31只，涨停的有1只；下跌的有92只，跌停的有1只。以资金流向数据进行统计，该行业资金净流入的个 股有36只，其中，净流入资金超5000万元的有6只，净流入资金居首的是永鼎股份，今日净流入资金 3.87亿元，紧随其后的是楚天龙、中兴通讯，净流入资金分别为1.60亿元、9331.25万元。通信行业资金 净流出个股中，资金净流出超5000万元的有16只，净流出资金居前的有恒宝股份、中光防雷、润泽科 技，净流出资金分别为2.70亿元、1.94亿元、1.22亿元。（数据宝） 通信行业资金流入榜 沪指7月1日上涨0.39%，申万所属行业中，今日上涨的有20个，涨幅居前的行业为综合、医药生物，涨 幅分别为2.60%、1.80%。跌幅居前的行业为计算机、商贸零售，跌幅分别为1.18%、0.79%。通信行业 位居今日跌幅榜第三 ...