1. Since last year, the A-share market has risen too much, from 1894 to 5 178, and it has not been completely adjusted. Investors, especially institutions, have the requirements of active callback and main position adjustment.
2.20 12 and 2065438 (the Shanghai Composite Index fell by 33.92%) plunged in June, which caused a short-term "stock market crash", and 24 million shareholders lost confidence and started the market to stop stock trading.
3. China's economy is negatively affected by the global economic downturn, and the overall economic downward pressure is great, which affects the performance of some listed companies. In particular, the efficiency of some cyclical industries has generally declined.
4. International capital entered the A-share stock market, manipulated stock index futures, and maliciously shorted, which further undermined investors' confidence.
5. The space and time for A-share adjustment have not been fully put in place, especially the adjustment time is not sufficient.
6. The stock market in the international capital market also fell continuously in the short term, which affected the A-share market.
7. The sudden decline of RMB exchange rate and the rise of US dollar exchange rate in the international capital market led to the outflow of foreign capital from emerging markets, including China A-share market.