A股电池板块拉升，天力锂能涨超10%，武汉蓝电、领湃科技、圣阳股份、宏工科技、力王股份等跟涨。

CSC Financial says A-share margin financing and ETF flows are offsetting; deleveraging remains incomplete but volatility is narrowing. Earlier bottom-fishing funds facing losses may cap the slope of any rebound. 10-year UST around 4.7% reflects both implied inflation and AI-driven debt issuance lifting the long end. The US Treasury’s stepped-up buyback/repo activity signals policy reluctance to let tighter financial conditions hurt AI investment and the broader economy, leaving rate pressure on equities relatively contained. Strategically, rebounds have visible floors and ceilings: policy backstops are clear but fresh incremental funding has not coalesced, so market action is characterized by stock-level, not index-wide, rotation; a sustained index breakout will require stronger catalysts. Tactical allocation should balance cyclical and defensive exposures while awaiting a tech-sector clearing. Sector focus: AI (upstream materials/equipment, domestic compute), innovative drugs, nonferrous metals, machinery, new energy, and dividend plays.

Lanyun Software Technology Solutions signed a $150 million master services agreement with SpaceX's Malaysia unit (SPCX.O).