CSI 300 up 0.82%
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This week, the A-share market continued to maintain a “trying to rebound” pattern, with several indexes extending their upward trend. The SSE Index(000001) recorded a weekly increase of 1.09%, still 4.47% away from its one-year high but has been above the 50-day moving average for two consecutive weeks, with trading volume also increasing by 14.7% month-over-month, indicating a gradual recovery in market participation. The CSI 300(000300) also rose by 0.82%, generally staying within a relatively strong fluctuation range. The small and medium cap style showed clear advantages, with the Shenzhen Index(399001) and ChiNext(399006) rising by 1.78% and 2.36% respectively. ChiNext has risen for five consecutive weeks, with current prices rebounding more than 45% from one-year lows, with active capital competition.
In overseas markets, U.S. stocks maintained high-level volatility, with both the S & P 500 Index(0S&P5) and Nasdaq Composite(0NDQC) hitting annual highs this week, with increases of 0.02% and 0.14% respectively. Sentiment in the technology sector continues to warm up, with core stocks like NVIDIA leading the charge, causing spill-over effects in the sector. In terms of Hong Kong stocks, the Hang Seng Index (HSI) recorded an increase of 0.93%, currently just 2.95% away from its one-year high, maintaining a bullish trend. Although trading volumes were moderate, there was significant support from the Chinese financial and technology sectors.
Regarding U.S. macroeconomic data, initial jobless claims stood at 227,000, below market expectations, showing resilience in the labor market; EIA crude oil inventories unexpectedly increased by 7.07 million barrels, far exceeding expected declines, which may temporarily suppress energy price trends. More worrying is that core CPI hit a 14-month high year-on-year, exacerbating concerns about the persistence of inflation. Minutes from the Federal Reserve also revealed growing divisions among officials regarding the inflation outlook and caution towards interest rate cut paths. Meanwhile, Trump announced starting August, high tariffs would be imposed on copper and Canadian home appliances, raising concerns over a secondary impact on global inflation.
Domestically, policy efforts continue to focus on stable growth. The State Council issued the ‘Notice on Further Increasing Support for Stable Employment Policies’, proposing specific measures such as expanding the scope of partner banks for stable employment loans and recommending positions for struggling graduates, highlighting that employment and consumption stability have become central policy focuses. Additionally, a 2% increase in pensions for retirees will help enhance the consumption capacity of middle- and low-income groups, providing support for domestic demand recovery.
Sector-wise, this week’s top performer was Finance-Investment Mgmt(G8072IG.CN), with a rise of 9.92%, benefiting from policy encouragement for long-term funds entering the market, acceleration in securities firm asset management reform, and expectations of improved profitability among some fund companies, leading to sustained capital attention. Next was Computer Sftwr-Financial(G2821IG.CN), with a weekly gain of 9.06%, driven by logic such as localization substitution in financial IT and AI empowering financial application scenarios, multiple concept stocks rapidly climbed, significantly enhancing sector prosperity. Third place went to Bldg-Resident/Comml(G1520IG.CN), with a weekly gain of 8.52%, reflecting marginal repair in sentiment across the residential property chain due to continuous push from policies like “housing delivery guarantee” and “inventory reduction”, with some second-tier leaders receiving capital allocation.
Overall, the “TOP33” portfolio showed slight divergence this week, averaging a minor decline of -0.10%, with a ratio of gainers to losers at 11:22. Structural differentiation remains a key feature. The best-performing stock was EverProX Technologies Co Ltd(300548), with a weekly increase of 19.84%. The company specializes in integrated optoelectronic devices in the optical communication field, possessing leading PLC integrated optics technology and advanced capabilities in developing high-end passive and active optical components. With an O’Neil Score of 74, EPS Rating of 86, and RS Rating as high as 99, it shows high recognition of the company’s fundamentals and growth potential in the current market. Moreover, the company holds numerous patents and a global customer base, presenting sustained upward potential amid the recovery of the optical communication industry chain.
In summary, the foundation for market rebound continues, with structural opportunities arising from sectors with clear policy directions and clear growth logic. Stocks with high Relative Strength Ratings and leading sector rankings still hold considerable trading and allocation value. Amidst the ongoing “attempting to rebound” phase of the market, focusing on changes in capital preferences and performance realization will remain a core strategy.
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published on July 11, 2025