The A-share market experienced a dramatic roller-coaster trend, with trading volume continuously expanding to nearly 3.99 trillion yuan, setting a new historical high. The strongest theme in the market was undoubtedly AI applications. Stimulated by positive news such as Google's open-source e-commerce AI protocol and Alibaba's 'Qwen' achieving over 10 million weekly active users, sectors related to AI applications—media, e-commerce, and marketing—saw a full-scale breakout.

In the afternoon, market conditions changed dramatically, with indices plunging sharply. The immediate trigger was the simultaneous announcement from the Shanghai, Shenzhen, and Beijing stock exchanges to increase the margin requirement for financing from 80% to 100%. This policy adjustment directly hit leveraged funds, triggering a broad selloff in brokerage stocks and high-flying stocks. During the final auction phase, major blue-chip stocks such as China Merchants Bank and Kweichow Moutai faced massive sell orders, signaling that large institutional investors were conducting risk control or reshuffling their portfolios. In the short term, these blue-chip stocks are likely to face selling pressure.

In the metals sector, the hard logic of rising prices for silver and tin stood out. The Shanghai Futures Exchange's main tin contract hit a new all-time high, while spot silver prices approached $90 per ounce, showing a strong momentum with both volume and price rising. Core stocks such as Hunan Silver and Xingye Silver Tin have surged since the start of the year, allowing early investors to continue reaping gains; stocks like Mingpai Jewelry, Xianglu Tungsten, Tin Industry Co., and Jiangxi Copper are also expected to potentially break new highs.

The commercial aerospace sector is currently in a fierce competition for upgrades. Stocks like Galaxy Electronics, Changlan Technology, and Hai Ge Communications have performed notably well. For trend-following investments, consider Shenzhuan Co., Guobo Electronics, Chaojie Co., Shanghai Hanxun, China Great Wall, and China Satellite; for high-potential, more volatile stocks, look at Jiayuan Technology, Hongxiang Co., and Zhuosheng Micro, which are oversold and offer higher value.

AI-related themes are also entering an upgrade phase. Stocks such as Sanwei Communications, Lioo Co., and Meiniang Health are gaining strong momentum. In the trend-driven sectors, stocks like Bluebird Media, Shengtong Co., Yonyou Network, Zhejiang Shuwen Culture, Jiqu Software, Oufei Electronics, and Aoto Electronics offer long-term investment value and are worth close attention.