Container shipping index (Europe route) front-month contract fell more than 8.0% intraday to 1,652.0 points.

CSC Financial says July saw a broad A-share pullback and deep correction in growth: China's Shanghai Composite Index fell 6.4% and the ChiNext -23.0%, with small-cap growth notably pressured; coal, oil & petrochemicals and banks outperformed. With interim results disclosure and overseas tech shocks abating, market pricing is reverting to fundamentals, creating valuation-repair opportunities in tech growth. Cyclical beaters include tech manufacturing and industrial metals: memory prices continue to rise amid higher cloud-provider capex guidance; industrial-robot output was up 28% YoY and automation capex is being realized; industrial-metal inventories remain low alongside supply constraints, supporting prices. Recommended positioning: target rebounds in July-oversold but still uptrending tech-growth names, while keeping exposure to cyclicals and manufacturing names with clearer earnings improvement.

銅價距歷史新高僅一步之遙，COMEX庫存升至65萬噸，去年同樣的政策懸念、同樣的庫存堆積，同樣的行情會重演嗎？但今年多了一個去年沒有的信號！一文幫你搞清這一關鍵區別！