Here is the translation of the provided text into English: The Shanghai Composite Index in the morning session was not as vulnerable as imagined.

It did not open directly below 2700 points,nor did it break through 2700 points immediately after the opening.

After a slight gap up,it hit a low of 2700.78 points.

There was a deliberate effort to maintain the 2700 point level as a fig leaf,but the Shenzhen Component Index and the ChiNext board took the lead in falling,followed by a significant decline in individual stocks.

The number of declining stocks reached a new low in recent times,and the Shanghai Composite Index's slight rebound driven by dividend boards has become meaningless.

It is obvious that it is better to break through 2700 points and smash downwards,which might form a trend of "not breaking,not standing".

However,resisting and rebounding above 2700 points now drags a large number of individual stocks into the water.

During the two trading days off for A shares,Hong Kong stocks rebounded for two consecutive days,and the US stock market also performed well.

It was unexpected that the individual stock market would be so weak after the A shares opened.

On the four major index minute charts,the yellow line representing the theme fell sharply,and the white line representing the weight was far above the yellow line.

The scissors gap between the two kept widening,and they were both falling.

The weight was holding on,while the theme was collectively killing.

The reduction in individual stocks is very helpless.

If you can kill in volume,it is easier to stimulate short-term capital to bottom out.

Once the dark fall continues,the downward space becomes a bottomless pit.

The biggest problem now is that large funds have no confidence in the market.

The national team funds have been watching recently,and institutional funds have been net outflows repeatedly.

Large funds are fleeing,and the market can only be smashed down.

Why did the foreign market perform well during the holiday,and A shares still have no confidence after the holiday?

First,Hong Kong stocks rose for two consecutive days,mainly in response to the expectation of the Federal Reserve's interest rate cut.

Hong Kong stocks are more sensitive to foreign capital,and Hong Kong stocks are more elastic,while A shares are not.

Another reason for the rise in Hong Kong stocks is that the H shares of Midea Group were listed yesterday and rose sharply,driving Hong Kong stocks to rise sharply,which has no impact on A shares.

Second,the rise in US stocks has nothing to do with A shares.

Unless the US stock market rises sharply,it will have a short-term stimulating effect on A shares.

Third,during the holiday,there were continuous bearish news in A shares.

I won't list them one by one.

We know that A shares now regard good news as bearish news,and bearish news will definitely be magnified,so it's not surprising that there was a decline today.

Fourth,we have repeatedly emphasized that if there is no sharp decline at this position,and the volume kills,it is impossible to attract funds to enter.

There are only three trading days this week,but there are two new shares for application.

And soon after,it is facing the National Day holiday.

How can funds launch a rebound at such a time window?

I have said a lot of reasons to see the fall,but if you look a little further,we don't have to be too pessimistic.

There are many positive signals gradually gathering in the market,and it takes a process from quantitative change to qualitative change.

Next,let's look at the positive signals.

1.

Since September,more than 500 companies have issued plans to increase and repurchase.

In just a few days in September,more than 500 companies have increased and repurchased,which is indeed very dense.

Among them,36 companies have repurchased more than 100 million yuan.

This amount is also very large.

According to statistics,as of 18:00 on September 17 this year,a total of 1382 listed companies have issued repurchase plans,which is more than three times that of the same period last year.

There are also many increases.

If you roughly calculate the amount of companies that repurchase and increase,it is estimated to be at most 200 billion,but many companies have also issued reduction announcements.

In this way,the incremental funds brought to the market by repurchase and increase are not many.

However,on the whole,the increase and repurchase of listed companies will bring incremental funds to the market,and we can only hope that more and more companies will actively increase and repurchase.

The reason why listed companies actively repurchase and increase is also based on the undervaluation of the company's stock price.

2.

7 billion yuan!

The social security fund has made another move and made a strategic investment in Guotou Power.

Guotou Power (600886) announced on September 17 that it plans to issue 550,314,465 A shares to the National Social Security Fund Council (hereinafter referred to as the social security fund) at an issue price of 12.72 yuan per share,with a transaction amount not exceeding 7 billion yuan.

The funds raised after deducting the relevant issuance costs will be used for the construction of Mengdi Gully Hydropower Station and Kala Hydropower Station.

The social security fund is a typical long-term fund.

Guotou Power said that through strategic cooperation,the social security fund can bring clean energy project development,industry chain cooperation,and overall corporate strategy and other aspects of synergistic resources to the listed company,and improve the company's competitiveness in the field of clean energy.

In addition,the social security fund intends to take a strategic stake in Guotou Power and is willing to hold the company's shares for a long time.

According to the company's clean energy business development plan and return level,it will provide continuous capital support for the company's clean energy business in an appropriate manner on the premise of meeting its own investment requirements.

In July this year,the social security fund also subscribed to the shares issued by China National Nuclear Power Corporation with 12 billion yuan to support the construction of Liaoning Xu Dapu Nuclear Power Station,Fujian Zhangzhou Nuclear Power Station,and Jiangsu Tianwan Nuclear Power Station.

The social security fund has made another move,which is more to convey a signal,not how much the amount is.

3.

Accelerate mergers and acquisitions,and the Securities Regulatory Commission has clearly stated to accelerate mergers and acquisitions.

Since 2024,the A-share market has more than 150 mergers or merger reorganizations,which has exceeded the level of the whole year of 2023 (about 130).

Since August,the merger market has accelerated,and by September,eight major asset reorganization plans have been released,involving many state-owned enterprises with a market value of more than 100 billion yuan.

Since September,28 listed companies have updated the disclosure of major reorganization events,among which 18 enterprises have the figure of state-owned enterprises,accounting for more than 60%.

Overall,the A-share merger and reorganization market is gradually entering an "active period",and merger cases with symbolic significance have emerged one after another.

Mergers and reorganizations can enhance the competitiveness of listed companies.

At present,it is more about strong mergers,solving the problem of competition in the same industry,and there are fewer large enterprises merging with bad enterprises.

The merger subject is a hot spot pursued by funds,which is helpful to enhance market speculation.

4.

The latest voice of foreign giants: full of confidence in the Chinese market!

Recently,foreign institutions such as BlackRock,JPMorgan Chase,HSBC,Citigroup,and Fidelity were interviewed.

From international investment banks to the world's top asset management companies,they still have confidence in China's capital market and long-term investment in the face of short-term challenges in China's economic transformation and upgrading.

"China's economy has great potential,vitality,and resilience.

We have always been very optimistic about the long-term development of China's economy and the attractiveness of RMB assets globally."

A foreign institutional executive told reporters.

For foreign capital to be bullish on A shares,everyone treats it more as a news,whether foreign capital is really bullish or for what purpose to be bullish.

Is it under the cover of bullish voices and constantly fleeing.

In the short term,the bullish view of foreign institutions obviously does not conform to the trend of the market,but I think foreign capital is bullish,standing from a long-term perspective to look at A shares.

At home,can we really have no confidence in A shares in the medium and long term?

Without wind and rain,how can we see the rainbow.

We have indeed seen the efforts of the capital market in the past year and a half,and the short-term effects are minimal,bringing more negative effects,but in the long run,the market will definitely bring positive feedback,which is a process of moistening things silently.

Through the above analysis,it gives more confidence to everyone,and being pessimistic is of no help.

It's better to be optimistic and believe that the worst will turn for the better,and the cycle will rotate.

Although I also try to look forward to the future positively and give everyone some confidence.

But in the short term,I really don't have too many reasons to be optimistic,I won't guess too much,and I won't guess that there will be a big rebound tomorrow every day.

I only base myself on the real performance of the plate.

Before the market really gives a turning signal,I will never move arbitrarily.

If you have to enter the market in advance before the bottom,I said that you can only enter when there is a panic killing,but also be prepared for continuous killing.

If you can't bear the possible extreme trend,then wait obediently.