1. The total trading volume of the Shanghai and Shenzhen stock exchanges on July 30th was 2.35 trillion yuan, continuing its upward trend. It remained below the 20-day moving average (2.6 trillion yuan) for the fourteenth consecutive trading day, but is gradually approaching it.
2. On July 30th, the ratio of margin buying to the total market capitalization of A-shares, a measure of leverage, rose to 8.13%, near the lower limit of its fluctuation range over the past year, continuing to fluctuate significantly around 10%.
-------- 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 the midst of a bull market. A leverage ratio exceeding 15% indicates an overheated market risk, requiring vigilance.
