On June 21st local time, the three major U.S. stock indices showed divergent trends. The Dow Jones Industrial Average consolidated its recent gains, while NVIDIA's continued downward pressure continued to drag down the technology sector, putting pressure on the S&P 500 and Nasdaq indices.

As of the close on that day, the Dow Jones Industrial Average rose by 15.57 points, a gain of 0.04%, to close at 39,150.33; the Nasdaq Composite Index fell by 32.23 points, a drop of 0.18%, to close at 17,689.36; the S&P 500 index fell by 8.55 points, a drop of 0.16%, to close at 5,464.62.

NVIDIA fell for the second consecutive trading day, closing down 3.5%, which dragged down the S&P Information Technology sector by 0.84%, leading the decline among the 11 major sectors.

Last week, the Dow Jones Industrial Average accumulated a weekly increase of 1.47%, recording the largest single-week gain since May. The Nasdaq was essentially flat. The S&P 500 index rose by 0.66%, marking a third consecutive week of gains. With technology stocks under recent pressure, especially with NVIDIA's market value eroding by $200 billion over two days, concerns arise in the market about whether other sectors can compensate for the void left by the declining technology stocks, leading to worries about a potential peak in U.S. stocks.

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On June 22nd, Commerce Minister Wang Wentao held a video meeting with European Commission Executive Vice-President and Trade Commissioner Valdis Dombrovskis as scheduled. Both parties agreed to initiate consultations on the EU's anti-subsidy investigation case against Chinese electric vehicles.

On June 22nd, Zheng Shanjie, Director of the National Development and Reform Commission, stated that the so-called "overcapacity" narrative in China's new energy industry goes against market laws and economic common sense. The EU's imposition of tariffs on Chinese electric vehicles is detrimental to both parties, and China will take all measures to safeguard the legitimate rights and interests of Chinese enterprises. He also expressed that the current global production capacity for new energy vehicles cannot meet market demand, and China's new energy vehicles can make a greater contribution to promoting the global green and low-carbon transition. Protectionism cannot protect competitiveness; it will only hinder the global process of addressing climate change and advancing the green and low-carbon transition. He looks forward to Germany demonstrating leadership within the EU and doing the right thing.

On June 22nd, the 2024 China Listed Companies Forum was held in Shenyang, Liaoning Province. Chen Zhuhua, Deputy Director of the China Securities Regulatory Commission's Inspection Bureau, delivered a speech titled "Standardized Operations are the Best Business Card for Listed Companies." In his speech, Chen emphasized the importance of standardized operations for the high-quality development of listed companies. He pointed out that standardized operations are not only the starting point and foundation for the high-quality development of listed companies but also the key to enhancing competitiveness and credibility. The fundamental difference between listed and non-listed companies lies in their public nature and the mandatory nature of information disclosure. The authenticity, accuracy, completeness, and timeliness of their information disclosure are the cornerstone of winning market trust.

On June 21st, financial regulatory authorities in eight regions, including Guangdong, Xiamen, Ningbo, Tianjin, Shanxi, Heilongjiang, Henan, and Hainan, collectively issued announcements declaring the cancellation of business qualifications for eight financial exchanges within their jurisdictions. This marks the third batch of financial exchanges to be closed down since March of this year. In fact, the cleanup and rectification of local financial exchanges have been underway for many years, and the number of local financial exchanges has been significantly reduced, with several provinces achieving a complete shutdown within their territories.

On June 21st, the online real estate sector released a list of new housing projects that will be launched soon, totaling 11 buildings, approximately 190,300 square meters, with a combined 1,680 housing units, distributed across six areas: Pudong, Minhang, Baoshan, Jiading, Fengxian, and Songjiang.

According to data from Maoyan Professional Edition, as of 20:16 on June 22nd, the total box office for the 2024 summer season (June 1st - August 31st) has exceeded 1.5 billion yuan. "I Don't Want to Be Friends with You," "Crime Crackdown: Never Give Up," and "The Garfield Family" rank as the top three in the box office chart for the season.►►According to the Moutai WeChat public account, on June 21st, the Moutai Group's 2024 Strategic Seminar was held at the Moutai Conference Center. Zhang Deqin, Secretary of the Party Committee and Chairman of the Moutai Group, pointed out that a very important reason for Moutai's development achievements today is that after more than seventy years of development, Moutai has shaped and formed core competencies in five major aspects: quality, brand, culture, environment, and craftsmanship.

►►At the Huawei Developer Conference 2024 held on June 21st, Yu Chengdong announced the launch of the Beta version of Harmony OS NEXT (also known as Hongmeng Star River Edition) for developers. This is referred to as "pure blood Hongmeng," which is based on the Hongmeng kernel and is no longer compatible with Android app development. Currently, "pure blood Hongmeng" is accelerating its development. According to Yu Chengdong, after four generations of development, the number of connected ecosystem devices of the Hongmeng system has exceeded 900 million. At present, more than 1,500 of the top 5,000 mobile applications have completed the launch of Hongmeng native applications.

►►It was learned on June 21st, local time, that shipping data shows that a liquefied natural gas (LNG) carrier crossed the Mandeb Strait and entered the Red Sea this week.

Oriental Group: The China Securities Regulatory Commission (CSRC) decides to file a case against the company for suspected illegal and irregular information disclosure.

Oriental Group announced that it has received the "Case Filing Notification" from the CSRC, which has decided to file a case against the company for suspected illegal and irregular information disclosure. Currently, all business activities and operations of the company are carried out normally. During the investigation, the company will actively cooperate with the relevant investigations of the CSRC and strictly fulfill its information disclosure obligations in accordance with relevant laws and regulations.

Oriental Group announced that due to debt default and the decline in stock prices, CITIC Securities forcibly liquidated some shares of the margin trading business of the major shareholder, Dongfang Runlan, on June 21st. Dongfang Runlan passively reduced the number of shares by 23.06 million, accounting for 0.63% of the company's total share capital.

Haofan Biotech: Plans to invest 1 billion yuan in the construction of a peptide synthesis reagent production project.

Haofan Biotech announced that the company plans to invest in the establishment of a wholly-owned subsidiary and the construction of the "Peptide Synthesis Reagent Production Project (Phase I)" in Huai'an City, Jiangsu Province. The estimated total investment is 1 billion yuan, and the construction land is about 220 acres.

LvTong Technology: US companies apply for double anti-investigation on specific low-speed passenger vehicles from China.

LvTong Technology announced that the American Personal Transportation Manufacturers Association, composed of ClubCar, LLC and Textron Specialized Vehicles, Inc., filed an application with the US Department of Commerce and the US International Trade Commission on June 20, 2024, US time, requesting the initiation of anti-dumping and countervailing investigations on imported specific low-speed passenger vehicles (referred to as "CLSPTV") from China.Two consecutive board Zhongxin Niya: The company's current production and business activities are normal

Zhongxin Niya issued an announcement on unusual fluctuations, stating that after self-inspection, the company's current production and business activities are normal. There have been no significant adjustments in the market environment or industry policies, no substantial fluctuations in production costs and sales, and the internal production and business order is normal. There have been no significant contracts signed recently, and the main business operations have not involved new technologies, industries, business forms, or models. In the first quarter of 2024, the company achieved a revenue of 37.3785 million yuan, a decrease of 55.42% compared to the same period last year, and a net profit attributable to shareholders of listed companies of 1.1046 million yuan, a decrease of 90.59% compared to the same period last year.

Three consecutive board Nanjing Chemical Fiber: The current main business is cellulose fiber and PET structural core materials

Nanjing Chemical Fiber issued a risk warning announcement, stating that the company's current main business remains cellulose fiber and PET structural core materials, and the company's production and business operations are normal with no significant changes. On June 21, the company's stock price closed at the daily limit price. In view of the recent significant fluctuations in the company's stock price, there may be irrational speculation. Investors are advised to pay attention to the risks of secondary market transactions, make rational decisions, and invest cautiously.

CICC: The overall valuation of the current A-share market has returned to a historically lower level. After five consecutive weeks of index decline, asset prices may have already reflected investors' overly pessimistic expectations. In the second half of the year, the combination of intensified growth-stabilizing policies and the continuous improvement of the current capital market policy dividends will help to further invigorate the capital market and boost investor confidence. In the second half of the year, continue to focus more on phased and structural opportunities.

CITIC Securities: The current market is still in the observation period for three major signals: policy, price, and external. The policy signal has been disturbed, the price signal is still unclear, and the external signal is still under observation. It is expected that in the third quarter, the above signals will gradually become clear. The current market consensus on the allocation of high-quality leading stocks will be further strengthened. It is recommended to gradually shift towards high-quality growth after the market turning point is clear.

Everbright Securities: After the previous adjustment, some indicators currently show that the market has certain bottom characteristics, which may reflect that the A-share market has a high cost-effectiveness and safety margin. Specifically, looking at the current position of the A-share market from indicators such as valuation, risk premium, equity fund issuance, financing transaction ratio, and turnover rate, some indicators initially show that the A-share market has bottom characteristics.