1. The total trading volume of the Shanghai and Shenzhen stock exchanges slightly rebounded to 2.08 trillion yuan on July 27, but remained significantly lower than the 20-day moving average of 2.79 trillion yuan.
2. On July 27, the ratio of margin buying to the total market capitalization of A-shares, a measure of leverage, further decreased to 7.87%, approaching the year's low and the lower limit of the past year's fluctuation range.
-------- Note: 1. Trading volume reflects the views of major institutions, speculative funds, and retail investors on A-shares. Volume above the moving average indicates increased total trading volume and a more optimistic market sentiment, while volume below the moving average indicates decreased total trading volume and a cooling market sentiment.
2. Since 2015, the leverage level of A-shares has mostly remained between 6% and 10%. A leverage ratio exceeding 10% indicates high market activity, potentially approaching or in a bull market. A leverage ratio exceeding 15% indicates an overheated market risk, requiring caution.
