【期货热点追踪】LME铜库存降至年内新低，现货升水涨至119美元！全球铜精矿市场还要继续“收紧”吗？点击阅读。

Founder Securities says the market’s oversold rebound has entered a decisive phase, with technology and high‑cycle (景气) tracks diverging. It highlights three allocation themes. First, technology requires selective positioning: innovation/startup segments have rebounded roughly 10% from their lows and, versus typical oversold-theme rebounds, may have additional upside. The AI narrative shifted after US cloud service provider earnings; marginal weakening of competitive capex makes cloud businesses and healthy cash flow the differentiators. Founder advises a balanced exposure between AI hardware and applications, prioritising overseas compute names with low crowding, domestic compute plays with high visibility in semiconductor equipment and materials, and relatively depressed AI application names and Hang Seng Tech stocks. Second, with Fed rate‑hike expectations easing, seek HALO assets: beyond core resource plays (nonferrous metals and chemicals), consider oversold new and old energy segments — power grid and power equipment, coal and petrochemicals. Third, focus on pharmaceutical large caps with solid fundamentals, low crowding and easing downside pressures.

Nikkei reports Sony and TSMC aim to begin mass production of next-generation image sensors as early as 2029.