Group 1 - The U.S. has lifted export restrictions on three chip design software suppliers, allowing them to resume exports to China, signaling a potential easing of trade tensions [1] - The companies affected include Synopsys, Siemens, and Cadence, which collectively hold over 70% of the global EDA market share [1] - Following the announcement, shares of U.S. chip design software companies rose, with Synopsys increasing by over 6% and Cadence by 5.5% [1] Group 2 - The U.S. also lifted licensing requirements for two ethane producers, Enterprise Products Partners and Energy Transfer, allowing them to resume exports to China [2] - Prior to this, U.S. ethane exports to China had significantly declined due to the implementation of licensing measures, with many vessels stalled [2] - Analysts suggest that these actions indicate a planned progression towards a "trade truce" between the U.S. and China [2] Group 3 - Experts view these moves as a positive signal for U.S.-China trade negotiations, potentially fostering further trust and cooperation [3] - However, there are still fundamental issues to address, such as increasing Chinese purchases of U.S. goods and allowing more U.S. companies access to the Chinese market [3]

Group 1: Employment Data - In June, the ADP employment numbers in the U.S. decreased by 33,000, marking the first negative growth since March 2023, with May's figures revised down to an increase of only 29,000 [1] - The service sector saw a significant decline, losing 66,000 jobs, primarily in professional and business services, as well as healthcare and education [1] - Despite the job losses, year-on-year wage growth remained stable at 4.4%, only slightly down from 4.5% in May [1] Group 2: Trade Relations - President Trump announced that Vietnam agreed to open its market to U.S. products at zero tariffs, while U.S. exports to Vietnam would face at least a 20% tariff [3] - The trade deficit with Vietnam exceeds $123 billion, with the U.S. importing over $136 billion from Vietnam in 2024 [3] - The potential trade agreement could impact China's transshipment trade, as Vietnam's supply chain heavily relies on Chinese technology and materials [4] Group 3: Technology Exports - The U.S. government has lifted some export restrictions on EDA software to China, which could enhance China's semiconductor design capabilities [5] - Major EDA companies hold approximately 82% of the Chinese market, indicating a significant reliance on U.S. technology [5] - The easing of restrictions may encourage Chinese firms to increase their preference for domestic EDA software solutions [6] Group 4: Real Estate Policies - Guangzhou is proposing a "commercial to public loan" policy to convert commercial housing loans to public housing loans when the public loan rate is below 75% [7] - This policy aims to stimulate demand in the real estate market while ensuring liquidity safety [8] Group 5: Gaming Market - Tencent and ByteDance are competing for the burgeoning mini-game market, which is projected to generate revenues of 39.836 billion yuan in 2024, a 99.18% increase year-on-year [9] - The mini-game sector benefits from low entry barriers and high user engagement, making it an attractive area for both companies [10] Group 6: IPO Activity - In the first half of the year, A-share IPO applications exceeded the total for the previous year, with 177 companies applying [11] - The total financing scale reached 38 billion yuan, a 25.53% increase year-on-year [12] - The surge in IPO applications is attributed to companies rushing to submit before the financial reports expire [12] Group 7: Market Trends - A-share new account openings reached 1.65 million in June, a 53% year-on-year increase, with a total of 12.6 million new accounts in the first half of the year [13] - The overall trading volume in June was 26.72 trillion yuan, reflecting a 79.57% increase compared to the previous year [13] - The market's performance in June was characterized by a lack of significant upward momentum, despite the increase in new accounts [14]

Group 1 - The National Medical Products Administration has announced measures to optimize the lifecycle supervision to support the innovation and development of high-end medical devices, along with policies for medical devices based on brain-computer interface technology [1] - The Trump administration has lifted some export licensing requirements for chip design software to China, allowing major chip software companies like Synopsys to resume supply to China [1] - The China Nonferrous Metals Industry Association's Silicon Industry Branch reported that silicon wafer prices are currently below the cash costs of most producing silicon wafer companies, leading to strong price support intentions from companies; production cuts among silicon wafer manufacturers have noticeably increased under low-price conditions [1] - The Ministry of Industry and Information Technology held the 15th manufacturing enterprise symposium, emphasizing the need for legal and regulatory compliance to address low-price disorder in the photovoltaic industry, guiding companies to enhance product quality and promoting the orderly exit of backward production capacity [1] - The US-Vietnam trade agreement will impose a 40% tariff on transshipped goods, with the Chinese Foreign Ministry stating that China advocates for resolving trade differences through equal dialogue and negotiation, and that such negotiations should not target or harm the interests of third parties [1] Group 2 - The company Weiming Pharmaceutical has experienced a situation that may trigger other risk warnings after two consecutive trading halts [2] - Wealth Trend's actual controller and chairman plans to reduce holdings by no more than 3% of the company's shares [2] - Yamaton, which has seen two consecutive trading halts, did not disclose its own production arrangements or performance forecasts in an interview regarding the photovoltaic glass industry's temporary production cuts [2] - Huayin Power, after two consecutive trading halts, expects a net profit attributable to shareholders of 180 million to 220 million yuan for the half-year period (unaudited) [2] - Jieli Rigging, which has seen two consecutive trading halts, confirmed that it does not violate information disclosure regulations [2] - Chengbang Co., which has seen six consecutive trading halts, has a high pledge ratio for its controlling shareholder and concerted parties [2] - Vanke A has applied for a loan of no more than 6.249 billion yuan from Shenzhen Metro Group and has extended part of its existing loans [2] - Dazhongnan, which has seen eight consecutive trading halts, produces CPP aluminum-plastic film suitable for solid-state lithium battery packaging but has not yet started production of this product [2]

| Millio | ■控期货 | 贵金属日报 | | --- | --- | --- | | | 操作评级 | 2025年07月03日 | | 黄金 | ☆☆☆ | 刘冬博 高级分析师 | | 白银 | ☆☆☆ | F3062795 Z0015311 | | | | 吴江 高级分析师 | | | | F3085524 Z0016394 | | | | 010-58747784 gtaxinstitute@essence.com.cn | 今日贵金属偏强震荡。本周鲍威尔讲话重申在经济依然稳健的情况下美联储选择保持耐心,下一步行动将完 全取决于数据表现。昨晚美国ADP就业人数减少3.3万人录得2023年3月以来最大降幅，降息预期升温，市场 基本完全定价美联储将于9月完成降息，聚焦非农数据对就业的验证，因美国独立纪念日该数据将于今晚公 布。 ★特朗普宣布与越南达成贸易协议，越南市场将对美国全面开放，越南将向美国支付20%的关税，适用于任 何进入美国领土的商品，且对转运货物征收40%的关税;越南国家媒体称美国将大幅削减多种越南产品的关 税。 ★当地时间7月3日，西门子公司称，美国商务部已通知全球三大芯片设计软件供应 ...

Group 1: U.S.-China Trade Developments - The U.S. government has lifted restrictions on ethane exports to China, signaling a potential truce in the ongoing trade war [1][3][4] - Eight ships have already set sail for China following the removal of these restrictions, which had previously caused delays [4] - The U.S. Department of Commerce has notified companies that they can now load ethane onto ships bound for China without needing separate authorization for unloading [3][4] Group 2: Semiconductor Design Software Export Restrictions - The U.S. has also lifted export restrictions on three major semiconductor design software suppliers: Synopsys, Cadence, and Siemens [2][5] - Siemens confirmed that the previous requirement for government licensing for their business in China has been revoked, allowing them to resume sales and technical support [5][6] - Synopsys announced that it is restoring access to affected products in the Chinese market and expects to complete system updates within three business days [6][7] - These three companies collectively held approximately 82% of the EDA software market in China last year [7]

Core Viewpoint - The A-share market is experiencing a collective rise, with the Shanghai Composite Index reaching a new high for the year, driven by the technology sector and consumer electronics [1][2][5]. Group 1: Market Performance - All three major A-share indices rose today, with the Shanghai Composite Index hitting a new annual high and the ChiNext Index increasing by nearly 2% [1][2]. - The total trading volume in the two markets reached 1.31 trillion yuan, with the technology sector, including consumer electronics, electronic components, and communication equipment, leading the gains [4]. Group 2: Technology Sector Developments - A significant boost for the technology sector came from the U.S. lifting export restrictions on three major chip design software suppliers to China, which is expected to enhance the competitiveness of Chinese tech companies [6][7]. - Honor launched its new lightweight foldable flagship product, the Honor Magic V5, which is currently the lightest and thinnest foldable flagship in the industry, further stimulating the consumer electronics sector [8][9]. Group 3: Investment Opportunities - In July, brokerage firms identified the electronics sector as a key focus, with 12.8% of their recommended stocks concentrated in this area, followed by power equipment and pharmaceuticals [12][13]. - Analysts suggest that the current market conditions indicate a structural slow bull market, with the potential for further upward movement after breaking the 3400-point mark [20][22]. Group 4: New Investor Trends - In June 2025, A-share new account openings reached 1.65 million, a year-on-year increase of 53.35%, indicating a recovery in market activity and investor confidence [20][22]. - The steady growth in new accounts is seen as a foundation for the market's performance in the second half of the year, influenced by policy continuity and market profitability [22]. Group 5: Sector Performance Insights - Historical data suggests that sectors such as military industry, new energy, and resource products like steel and chemicals have a higher probability of performing well in July [23][25]. - The military sector is expected to benefit from upcoming policy catalysts and order releases, while resource sectors are supported by seasonal demand and supply constraints [25].

Group 1 - Dow futures rose by 0.05%, S&P 500 futures increased by 0.07%, and Nasdaq futures gained 0.11% [1] - Chip design software stocks saw pre-market gains, with Synopsys and Cadence Design Systems both rising over 6% [1] - TripAdvisor Inc. experienced a pre-market increase of over 5% following news that Starboard Value LP holds more than 9% of the company [1] - Datadog surged over 11% in pre-market trading after being announced as a new addition to the S&P 500 index [1] - Eli Lilly's tirzepatide injection received approval for its third indication, now being the first and only prescription drug for treating moderate to severe obstructive sleep apnea in adults in China [1] Group 2 - OpenAI denied any association with Robinhood's tokenized stocks, clarifying that any transfer of OpenAI equity requires their approval [2] - The U.S. House of Representatives advanced the "Big and Beautiful" bill, a large-scale tax and spending proposal, with a narrow vote of 219 to 213 [2] - Amazon announced two significant milestones in robotics and AI: the launch of a new AI foundational model called Deep Fleet and the deployment of over 1 million robots [2]

美股芯片设计软件股盘前纷纷走高，其中，新思科技、楷登电子均涨超5%。 ...

美国芯片设计软件股盘前走高，新思科技涨5.7%，楷登电子涨5.5%。 ...

据美国彭博社今天（7月3日）援引西门子公司的消息证实，美国政府已解除对华芯片设计软件出口的许 可证要求。西门子公司称，美国商务部已通知全球三大芯片设计软件供应商——新思科技、楷登电子和 西门子，此前要求其在华业务必须申请政府许可的规定现已撤销。西门子公司表示已全面恢复中国客户 对其软件和技术的访问权限，新思科技与楷登电子称正在逐步重启相关服务。（CCTV国际时讯） ...