On July 14, resource sectors in the A-share market, including non-ferrous metals and coal, exhibited robust performance. Multiple non-ferrous metal-themed ETFs surged by over 6%. The computing power sector also staged a significant rebound in the afternoon, with the ChiNext Index soaring by more than 3% and several communication-themed ETFs gaining over 5%. Notably, on July 13, amid a sharp decline in A-shares, nearly 60 billion yuan worth of funds poured into the market via equity ETFs. This marked the highest single-day inflow since April 8, 2025. Broad-based ETFs, such as the CSI 1000, CSI 300, and CSI 500, experienced substantial increases in their holdings. Recently, the A-share technology sector has witnessed heightened volatility. Industry institutions have issued warnings, noting that the prolonged strength in tech growth sectors earlier has led to the accumulation of significant margin trading positions. As market volatility escalates, some leveraged funds are starting to pull out. In the medium term, the core drivers underpinning the upward trajectory of the A-share market remain intact. The current adjustment is viewed more as a correction in trading structure, as the market transitions from an extreme structural rally to a rebalancing of styles. The trend in the AI industry remains strong, with the third quarter potentially heralding a phase of "selecting sub-sectors and validating performance."