1. The total trading volume of the Shanghai and Shenzhen stock exchanges on July 29th was 2.3 trillion yuan, a significant rebound, but still below the 20-day moving average (2.66 trillion yuan), marking the thirteenth consecutive trading day below this level.
2. On July 29th, the ratio of margin buying to the total market capitalization of A-shares, a measure of leverage, further decreased to 7.37%, continuing to fluctuate significantly around 10%, approaching the low point of the month and the lower limit of the fluctuation range over the past year.
-------- Note: 1. Trading volume in the two markets 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 vigilance.
