First of all, we should know that A50 and A shares are basically linked. However, because A50 futures have been traded in Singapore's financial center for a longer time, they will continue to trade after the A-share market closes, which makes many people feel that it has little to do with the domestic stock market. However, it is actually a futures index composed of 50 A shares in circulation. Since it is a futures index, there will be certain expectations in it. Especially after the closure of the domestic market, the following points will affect its operation.

1.The intraday trading time of A shares is mainly affected by the rise and fall of 50 domestic stocks, which is basically consistent with the weighted average trend of 50 domestic stocks. Many people say that there is basically no index consistent with its trend. That's because the 50 stocks in it are different, so the trend is different.

2. After the close, A50 is greatly influenced by the policy news released in China, while the domestic stock market is a policy market, which is more influenced by some news from domestic macro, industry and listed companies themselves.

3. Foreign stock market trends affect A50, especially foreign US stocks. After all, it is the largest economy in the world and the stock market closest to China's economy. Many China stocks choose to list abroad.

4. FTSE A50 can't reflect the internal changes of A-share price structure. Because A shares have risen rapidly in the past two years, except for several consumer stocks such as Wuliangye, other varieties are not the constituent stocks corresponding to the FTSE A50 index. After all, in the past two years, in addition to consumer stocks such as Wuliangliang, A-shares have mainly increased by technology stocks such as chips and pharmaceutical stocks, not FTSE A50 constituent stocks. Therefore, the FTSE A50 index may reflect the running trend of A shares, but it cannot reflect the inherent characteristics of the stock price structure.

5. FTSE A50 reflects the stock market, not the incremental market. The different views of overseas capital and local institutional funds also affect the direct correlation between FTSE A50 index and A shares. Overseas capital is mainly the allocation of various wealth capital, and their main position is still the European and American markets, but only the allocation of A shares. Therefore, the research on A-share and China economy may be biased. In addition, their research ideas and views on industries and enterprises may be slightly different from those of local institutions, which will also affect their views on growth stocks and value stocks. After all, FTSE A50 is mainly value stocks and stocks in traditional industries, while the incremental IPO companies of A shares in recent years mainly focus on innovation and growth. Therefore, FTSE A50 reflects the stock market, not the incremental market of A shares.

This is my opinion, I hope it will help you.