On Friday, the A-shares followed the same formula and trend as usual.

At 10 o'clock, they didn't even bother to pretend anymore and started to sell off directly, which lasted until the market closed.

Yesterday, not only did the A-shares hit a new low in the adjustment and barely hold above 2700 points, but other indices also closed with bearish candlesticks.

This kind of selling off is definitely not done by retail investors.

Such punctual and timely selling can only be achieved by institutional funds.

Why is no one managing this?

I'm puzzled.

It's already at 2700 points and they're still selling off.

Even the village said that compared to the four major bottoms of A-shares, the current valuation is at the lowest point and is ready for value investment.

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So why are institutions still selling off?

Since institutions are so disobedient, we might as well learn from India, where retail investors have T+0, and institutions have T+3, which would force them to be obedient.

Even Professor Liu Jipeng can't stand it.

When he was on Phoenix Finance, he said that we need to implement a compensation mechanism for delisting and ban all short selling.

In South Korea, short selling is prohibited at 2700 points.

If anyone dares to short sell, they will not only be fined but also severely punished.

A-shares are falling against the global trend and just can't rise.

Some people say that when people's hearts are scattered, it's hard to lead the team.

If this continues, let alone leading, there won't even be any people left.

Everyone knows how to make A-shares strong, but those who have the ability don't want to change, and those who want to change don't have the ability.

So, it's really hard to say when A-shares will fall.

Unlike A-shares, the situation in the foreign market is very good.

On Friday night, European and American markets rose collectively, with Germany and France having three consecutive rises, and the Nasdaq Composite Index having five consecutive rises, with a rise of 6%.

In addition to the stock market, on Friday night, precious metal futures rose across the board, with New York gold rising by 1.12%, having four consecutive rises, and continuing to set a new historical high; New York silver rose by 3.18%, London aluminum rose by 2.44%, and London copper and lead all rose, and international crude oil futures all closed up.

The US dollar index fell by 0.25%, closing at 101.114; the offshore RMB appreciated by 0.26%, closing at 7.10095, and the US dollar against the yen appreciated strongly by 0.69%.

Since July this year, the yen has appreciated significantly, from 1 US dollar being exchanged for 161.956 yen to the current 140.838 yen.

The FTSE A50 closed up by 0.07%, and Chinese concept stocks rose more than they fell.

The FTSE China 3x Long rose by 1.6%.

From these data alone, the impact on A-shares is very limited, but the rise in commodities, especially precious metals, can be expected after the holiday.

The Fed's interest rate cut cycle may push gold higher; in addition, the central bank has not increased its gold holdings for four consecutive months, in order to stabilize the exchange rate.

Because buying gold requires either using foreign exchange reserves or paying offshore RMB, which will increase the fluctuation of the RMB exchange rate.

At that time, the exchange rate was close to 7.3, and maintaining the exchange rate was the first element, so the increase in gold holdings was suspended from May.

With the opening of the US interest rate cut cycle, the offshore RMB exchange rate has begun to appreciate, which has laid the foundation for the central bank to increase its gold holdings.

Moreover, the US has 8,133 tons of gold reserves, ranking first in the world, and China has 2,264 tons of gold reserves, ranking sixth in the world, lower than Russia, but my economic total is second in the world, and it must have a gold reserve that matches it, which also lays the foundation for the internationalization of the RMB.

In addition, with the rise of the global trend of de-dollarization, the US owes a huge debt that cannot be repaid at all, and it is very likely to use the devaluation of the dollar to offset the debt, so the central banks of various countries have increased their diversified reserves.

In summary, precious metals led by gold still have a larger room for appreciation.

News 1.

The United States determined on the 13th to significantly increase the import tariffs on Chinese products, among which electric vehicles increased by 100%, solar cells increased by 50%, steel, aluminum, power batteries and key minerals increased by 25% tariffs.

And the import tariff on semiconductors was increased by 50%, which will take effect in January 2025.

Interpretation: With the nature of A-shares, good news is to sell, and bad news is really bad news.

If these industries don't have mysterious funds next week, it's estimated that there will be a bit of suspense after the holiday.

2.

From January to August, the increase in social financing scale was 21.9 trillion, expected to be 21.875 trillion, slightly higher than expected; new RMB loans were 14.43 trillion, estimated to be 14.57 trillion, slightly lower than expected, and the performance was stable without any good interpretation.

And the M2 balance was 305.05 trillion, a year-on-year increase of 6.3%, expected to be 6.2%; the M1 balance was 63.02 trillion, a year-on-year decrease of 7.3%; the scissors difference further expanded.

Interpretation: The acceleration of M2 growth and the decline of M1 growth mean that funds cannot be released, and no one is willing to invest.

The larger the scissors difference between M2 and M1, the more depressed the current economy is, and the worse the stock market performance is.

3.

The National Bureau of Statistics: In August this year, the sales price of commercial housing in 70 large and medium-sized cities decreased month-on-month, and the year-on-year decline slightly expanded.

Interpretation: The real estate supply is greater than demand, and the population continues to decline, so the price decline is an inevitable trend.

The real estate-related industrial chain needs to pay attention to risks next week.

4.

The National Bureau of Statistics: In August, the growth of industrial added value above designated size was 4.5%, a month-on-month increase of 0.32%, and a year-on-year increase of 5.8% in the first eight months of this year; looking at the details, the growth of public utilities consumption was the fastest, reaching 6.8%; the growth of new energy vehicles was 30.5%; the decline of crude oil processing was 6.2%; the decline of steel was 6.5%, and the decline of cement was 11.9%.

Interpretation: The growth of public utilities consumption is relatively fast, and the decline of infrastructure industry is relatively large, and the growth rate of new energy vehicles is the strongest.