The main hog futures contract fell below 12,000 yuan/ton, down 2.84% on the day.

Fourteen Chinese ministries including the Ministry of Civil Affairs issued today the Three-Year Action Plan to Expand and Upgrade the Rehabilitation Assistive Devices Industry (2026–2028). On payment, the plan supports including eligible therapeutic rehabilitation aids in medical insurance, will study adding long-term care–related smart services and supportive assistive devices to long-term care insurance coverage, and encourages commercial insurers to reimburse rehabilitation-aid provisioning under health policies. On industry oversight, it calls for accelerated revision of mandatory standards for electric wheelchairs and recommended standards for wearable exoskeletons. On talent, it supports qualified rehabilitation-aid enterprises and institutions to establish postdoctoral research stations and backs universities and vocational schools in opening rehabilitation engineering and assistive-device technology programs.

Internationally: 1. Goldman Sachs: Maintains overweight rating on A-shares, recommends investing in high-quality Hong Kong-listed internet leaders. 2. Morgan Stanley: Three factors could end the summer rally in US stocks. 3. Barclays: The oil price shock has passed, but inflation remains. 4. IEA warns: Escalating US-Iran conflict could threaten the expected oversupply in the oil market by 2027. 5. Mitsubishi UFJ: Japanese investment plans are unlikely to have a lasting impact on the yen. 6. Morgan Stanley Mitsubishi UFJ: The yen and Japanese government bonds are expected to be supported in the short term by comments from Satsuki Katayama. Domestically: 1. BOC Securities: Short-term equilibrium does not change the growth trend. 2. CITIC Securities: Still optimistic about the US technology sector. 3. CITIC Securities: Breakthroughs in controllable recovery technology will lay the foundation for increased infrastructure investment in the commercial aerospace sector. 4. CITIC Securities: Expectations of ample supply are suppressing lithium prices, but a rebound is expected despite the off-season. 5. CITIC Securities: Hong Kong stock market volatility is easing, and short selling is expected to subside. Short-term recommendations include innovative drugs, aviation, robotics, and industrial metals. 6. Galaxy Securities: We suggest focusing on earnings performance and seizing structural opportunities amidst market fluctuations. 7. Kaiyuan Securities: Risks are gradually dissipating; look for new technological clues. 8. China Merchants Securities: Increased volatility in overseas technology markets; pay attention to opportunities in domestic computing power. 9. Eastmoney: The market has the conditions for "rebalancing" in the third quarter; previously "oversold" assets are expected to recover first.