The market is shrinking further. Yesterday it was less than 740 billion. The Shanghai Composite Index also fell for four consecutive trading days, close to the 20-day moving average. If the previous expectations are maintained, then the rebound should be near, but there are not many long-term directions in the disk except for the speculation of sub-new stocks.

Popular stocks on the outside market have also started to pull back recently. Apple has lowered its shipment expectations. As for the pullback of other popular stocks, it was more due to speculation and downgraded ratings by major banks. As for U.S. debt, more attention should be paid to the trend of Japan. If the yield of Japan's medium and long-term government bonds increases, it will not be a good thing for U.S. debt.
The rectification of the medical and medical field is getting deeper and deeper. In the medium and long term, if a long-term mechanism can be established after anti-corruption, it will be a good thing for the development of the industry. Only when the public relations expenses of pharmaceutical companies decrease, the research and development expenses may increase. As for ordinary doctors, in fact, what to do is what to do, but it is not ruled out that some famous doctors with high earning capacity will practice independently because they don't want to go into troubled waters. After chatting with the management of a private hospital, the doctor who had been wanting to dig, has recently been able to dig.
This section is my personal shortcoming, but I started to learn to read it this year. Bought a little ETF, micro-set. I bought some innovative drugs from Hong Kong stocks. I was pressed and bought a little SPD to hedge. Very unfriendly, there is no novice protection period, just come up and give it a hammer.
The restrictions on investment in China have come to the ground, and the originally expected new energy is not within the scope, and the restrictions are mainly on advanced semiconductors, quantum and AI. Then it is necessary to track whether this restriction order is consistent with the surrounding framework. There is no restriction on new energy, whether the U.S. Treasury Department can approve cooperation projects between companies such as Volt and Chinese new energy companies, and whether photovoltaic and wind power products are blocked by customs. Wait for the follow-up meeting with the Ministry of Commerce to follow up.
The question now is whether the American policy will continue to mess around after the CHIP4+ investment restriction order. If this is achieved, there is a clear distinction, then what should be done in the future.
From the perspective of the sector, AI continues to pull back with TMT, and securities and real estate are driving the index in rotation. With the strengthening of subsequent national debt expectations, infrastructure will move sooner or later. From a medium-term point of view, when the core manufacturing industry in the weight of the Shanghai and Shenzhen 300 will perform well, it will be the time when the market starts to follow a healthy trend. Although the main indicators in July are still relatively ugly, they are already narrowing. If this trend of narrowing and recovery can be confirmed in the next two months, it is time for the manufacturing industry to rise.
As for the market, until it is not clear, the current model of index weighting and active capital trading chip structure will continue. In fact, yesterday’s new shares traded at 200 yuan and above were very small, more because they caught loopholes. This kind of game is not a profit-making effect, but more can be seen as extreme emotions in the market. Don’t look for this kind of imitation, hang up just die.
So many codes first, typos will not be changed.
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