Xunce (03317.HK) said it has entered a strategic cooperation with Shenzhen Kaihong Digital Industry Development Co. The partnership will focus on AI data infrastructure, tokenization of terminal data applications, and token-based commercial models.

CITIC Securities says the latest Middle East-driven second oil shock follows exhaustion of earlier buffers and is not a simple replay of the first shock; the most crowded trades in the two episodes differ, so Q2 market patterns are unlikely to repeat. The conflict is increasingly unpredictable and the risk of prolonged tension has risen, making short-term de-risking unavoidable. However, price, volume and sentiment indicators show the negative moves are largely reflected in near-term extreme declines and the de-risking phase is approaching its end. CITIC sees a high probability of broad rotational repair in August and favors three convergence trades: 1) narrowing of excess returns between AI-chain upstream hardware/price-sensitive names and downstream platform companies; 2) valuation catch-up of domestic non-AI industrials versus overseas peers; 3) convergence between tech and non-tech sectors.

A股N长鑫日内涨超500%，现报51.96元，成交额超1000亿元，换手率超55%。