1. The total trading volume of the Shanghai and Shenzhen stock exchanges on August 6th was 2.53 trillion yuan, a slight decrease from the previous day, temporarily remaining above the 20-day moving average (2.48 trillion yuan). Attention should be paid to whether this level can be maintained.
2. On August 6th, the ratio of margin buying to the total market capitalization of A-shares, a measure of leverage, rose to 10.29%. This ratio has fluctuated around 10% throughout the year, but the volatility has intensified significantly since May.
-------- Note: 1. Trading volume reflects the views of major institutions, speculative funds, and retail investors on A-shares. A volume above the moving average indicates increased total trading volume and a more optimistic market sentiment, while a 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.
