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On July 1st, Avita announced that it has obtained an L3 autonomous driving test license, and its vehicle-related road testing work has been fully and steadily implemented according to plan. The company stated that it will currently rely on the open public test sections in Chongqing to conduct L3 autonomous driving field verification, while simultaneously advancing real-world road access reliability testing to deeply adapt to the complex road conditions and diverse traffic scenarios in China. Multiple compliance tests have also been launched concurrently.July 1st - Tencent Wealth Managements current account + 7-day annualized yield ranges from a high of 1.0730% to a low of 0.7830%, WeChat Pays 7-day annualized yield ranges from a high of 1.0160% to a low of 1.0010%, and Alipays Yuebaos 7-day annualized yield ranges from a high of 1.0300% to a low of 1.0010%.The Peoples Bank of China announced today that it conducted 100 billion yuan of 7-day reverse repurchase operations, with a bid volume of 100 billion yuan and a winning bid volume of 100 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.The main contract for the container shipping index (European route) fell 200.0 points during the day, currently trading at 2638.5 points, a drop of 7.05%.July 1st Futures News: The main contract for container shipping (European route) fell 6.00% intraday, currently trading at 2666.0 points. A research report from Yide Futures points out that the sharp decline in European container shipping futures was triggered by profit-taking by long positions, with the main contract shifting from EC2607 to EC2608. Currently, the fundamentals for the peak season in the spot market remain strong, with tight capacity supporting spot freight rates. Maersks latest WK29 European route quotes are at $3300/TEU and $5500/FEU. As the previous geopolitical and price increase benefits have been fully priced into the market, the trading logic has shifted from supply and demand bullish to a game of expectations surrounding the peak season inflection point. Short-term volatility has increased, with the market repeatedly weighing the resilience of the spot market against the increase in forward shipping capacity. A high-level, wide-range fluctuation pattern is expected to continue in the short term. (This content and opinion are for reference only and do not constitute any investment advice.)

Trading Strategies

Just starting out? Begin your trading education with our Foundational Trading Knowledge course. Learn about a variety of markets like foreign exchange, commodities and equities and how they operate. Discover the right trading style for you and get to grips with key trading processes and market psychology.

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