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Three reasons: high opening and low going.Our market is too dependent on policies, which always leads to being used by people. In particular, every time the policy is issued after the A-share market closes, the consistency expectation is too strong, and it often goes high and low every other day! The greater the gain, the more the loss. It's really amazing.

Second, the peripheral stock markets fell across the board. Yesterday, Hong Kong stocks rose by more than 2.5%, but today they surged back. The FTSE A50 rose by more than 4.6% yesterday and fell by nearly 3.5% today. A-shares did not follow up, but followed down. That was one set after another.Our market is too dependent on policies, which always leads to being used by people. In particular, every time the policy is issued after the A-share market closes, the consistency expectation is too strong, and it often goes high and low every other day! The greater the gain, the more the loss. It's really amazing.

Second, the peripheral stock markets fell across the board. Yesterday, Hong Kong stocks rose by more than 2.5%, but today they surged back. The FTSE A50 rose by more than 4.6% yesterday and fell by nearly 3.5% today. A-shares did not follow up, but followed down. That was one set after another.Three reasons: high opening and low going.