The Shanghai Composite Index has exceeded 3500 points for the first time this year.

On July 9th, the Shanghai Composite Index broke through the 3500 point mark in intraday trading. Despite most stocks falling, large-cap stocks such as CATL, CSPC Pharmaceutical Group, and Sinopec Capital supported the index with significant gains. With the Shanghai Composite Index hitting a new high for the year in intraday trading, stocks like Industrial and Commercial Bank of China, Agricultural Bank of China, and New Easy Wealth also reached historical highs. These record-breaking stocks are mainly concentrated in the banking and technology sectors. Institutional investors believe that ample liquidity support is one of the main reasons for the market's rise. However, volatility in the future may increase, and there are still many disruptive factors affecting the trend of the market. The effective rise in the central tendency may need to wait.