The market exhibited volatility in the morning session, with the Shanghai Composite Index reaching a new annual high. Notably, the rare earth permanent magnet sector shone brightly, as stocks such as Northern Rare Earth, Baogang Steel, and Shenghe Resources all hit their daily upper limits. Concurrently, the financial sectors, particularly securities and banking, continued to demonstrate strength. BOC Securities and Hasteel also reached their daily trading limits, while the Industrial and Commercial Bank of China set new all-time highs. Additionally, innovative drug concept stocks were active, with WuXi AppTec, Calithera Biosciences, and Lianhuan Pharmaceutical all hitting their daily limits. On the other hand, PCB concept stocks saw some adjustments, with Jinan Guoji falling to its daily lower limit. At midday, the Shanghai Composite Index was up 1.05%, the Shenzhen Component Index rose 0.94%, and the ChiNext Index gained 1.19%.