Today's market is quite interesting. The index is up, but more than 3,400 stocks are down—this is a typical "index bull, individual stock bear" situation. However, during the morning’s dip and rebound, it was obvious that there were buyers stepping in at the bottom, and the market couldn’t fall any further.

The biggest problem now is still the volume. It's hard to move upwards relying solely on existing funds. Big financials today just managed to stabilize the situation; no one really made a strong push. If the volume can pick up in the afternoon, the market will likely be stable tomorrow; if it continues to shrink, we’ll need to grind a few more days.

**Robot sector suddenly exploded**

After holding back for so long, robots finally moved today. There was big news: after the US finished with AI, they're now turning their attention to robotics. Reportedly, there may be special policies released before the end of the year, and the Department of Transportation is even setting up a dedicated task force.

Basically, the US wants to use robots to solve the problem of bringing manufacturing back—labor is too expensive, so robots are the perfect solution. The A-share market has already been laying out plans, mainly around two lines: the Tesla supply chain and the Unitree supply chain. If the US government really confirms this, the robot sector could rally for a while.

**Non-ferrous metals hit new highs again**

Copper prices went crazy today. In London, they broke through $11,540 per ton, and Shanghai copper surged directly to 91,400 yuan—both are all-time highs. Tungsten's increase is even more exaggerated: black and white tungsten are both up more than 140% since the beginning of the year, and both China and Europe are scrambling for supply.

The reason is simple: companies are restocking inventory ahead of year end, leading to more intense competition, while upstream production remains limited, so prices can’t be suppressed. This surge is driven by a tight supply-demand balance plus inflation expectations. The trend for non-ferrous metals won’t change short term; there’s no need to chase highs, but it might be worth looking for opportunities on pullbacks.

**Commercial space faces a small setback**

Landspace’s Zhuque-3 recovery test failed, but this kind of thing is normal in the aerospace field—technological breakthroughs are always achieved step by step. The state’s support for commercial space hasn’t changed, and the mid-term logic still holds. These short-term fluctuations may actually offer a window for bargain hunting.

**Moore Threads to list tomorrow**

Moore Threads will be listed on the STAR Market tomorrow, and related concept stocks have already moved today. This is a major event from this year into next, so we’ll see if the market buys in tomorrow at the open. Although there’s been a short-term correction in AI applications, the overall direction and logic remain unchanged.

That's all for now. If you found this useful, give it a like.