Market Performance - The South Korean Composite Index increased by 0.91% [1] - The Nikkei 225 Index in Japan decreased by 1.25% [1] - The Australian S&P 200 Index saw a slight increase of 0.02% [1] - The New Zealand S&P 50 Index declined by 0.36% [1]

Group 1 - The cryptocurrency market experienced significant volatility on July 2, with Bitcoin dropping over 1.5%, Ethereum falling more than 3%, and Cardano decreasing by over 5% [1] - The total number of liquidated positions in the cryptocurrency market exceeded 100,000 in the past 24 hours, with 70% of these being long positions [1] - The stock market also faced selling pressure, with the Nikkei 225 index dropping over 1% and the Korean Composite Index falling nearly 2% during intraday trading, although both indices saw a reduction in their losses by the close [1] Group 2 - U.S. stock index futures, including the Nasdaq 100, initially rose but later turned to decline [1] - The market reaction was influenced by the U.S. Senate's passage of Trump's "Big and Beautiful" tax and spending bill on July 1, raising concerns about the U.S. fiscal deficit and prompting investors to sell risk assets [1]

Core Viewpoint - The performance of the Hong Kong stock market has a significant impact on the A-share market, with recent declines in the Hang Seng Index raising concerns for investors ahead of the A-share market's opening [1][3][6] Group 1: Market Performance - The Hong Kong stock market experienced a sharp decline, with the Hang Seng Index and Hang Seng Tech Index both opening lower, causing anxiety among investors [1] - A-share market showed a pessimistic trend before the holiday, with over 4,000 stocks declining and the number of stocks hitting the daily limit falling to around 50 [3] - The A50 futures index dropped over 2% at one point, indicating a weakening sentiment in the market [6] Group 2: External Influences - The overall performance of Asian stock markets was poor, with the Nikkei 225 index falling over 1% and the Korean Composite Index also declining [3] - External factors, including changes in the U.S. stock index futures and rising gold prices, have led to increased risk aversion among investors [6] Group 3: Upcoming Events - June is expected to be eventful for the A-share market, with significant events such as the optimization of the ChiNext Index and the Lujiazui Forum scheduled for mid-June [5] - The Federal Reserve's upcoming meeting could also have a profound impact on global capital markets, influencing A-share performance [5] Group 4: Market Outlook - The performance of the Hong Kong market may lead to a cautious opening for the A-share market, with the potential for a low opening followed by a recovery depending on the willingness of new capital to enter the market [3][8] - Despite short-term challenges, the A-share market is likely to remain in a trend of oscillating upward movement, with opportunities arising from sector rotations and increased trading volume [8]