7月10日，DR007收盤升至1.3825%，近期雖有企穩跡象，但仍未打破6月24日以來下降趨勢，繼續圍繞政策利率1.4%波動。 注：短期貨幣市場利率如DR007，反映的是市場資金充裕程度。除了實體經濟貸款利率，股市、債市等金融市場很多交易本質上是靠“貸款”加槓桿，貸款成本就取決於短期資金利率。DR007通常被視爲中國短端利率錨。DR007與央行7天逆回購利率（政策利率）之間的差距就可以看出市場是否缺錢，DR007利率高於政策利率很多，說明市場缺錢，央行可能會出手投放流動性；反之說明市場資金非常寬鬆。

Chen Guo, deputy director and chief strategist at Eastmoney Securities, says conditions for a Q3 rebalancing in China’s stock market are in place as leadership shifts from single to multiple drivers. Previously oversold assets—notably some high-quality blue chips hit in mid-to-late June panic selling—could recover first. Recommended sector exposure: non-bank financials, innovative drugs, internet, consumer staples, gaming, coal and lithium batteries. Thematic focuses: commercial space and robotics. Medium-term preference remains domestic AI-chain real‑tech leaders.

China International Capital Co research says high external uncertainty will drive investors to use interim reports to find structural winners. Key themes: upstream oil, gas, chemicals and select metals as potential earnings bright spots; technology hardware and power equipment exposed to the AI cycle and to overseas demand, and non-bank financials; the AI supply chain—optical communications that directly benefit from AI deployment, plus batteries and energy storage that also gain from energy‑security and supply‑chain security. Also monitor cyclical industries with relatively balanced supply–demand and improving demand/capacity dynamics, notably specialty chemicals, optoelectronics and certain innovative pharmaceuticals.