A-shares major indices are rebounding after hitting the bottom, with all turning red at noon, but the morning transaction volume fell below one trillion! What does the future hold?

1. Global stock markets are mixed

Overnight, the three major U.S. stock indices, including tech stocks, were mixed, with no clear main trend. However, last night, GPU leader Nvidia surged by 2.12%, and storage chip maker SanDisk rose by 9.74%. Similarly, today's Asia-Pacific stock markets are mixed, with Japan's stock market falling nearly 1.5%, Australia's stock market seeing slight declines, and South Korea's stock market rebounding after hitting the bottom, with a midday increase of about 1%.

2. Performance of Chinese assets

Overnight, the Nasdaq Golden Dragon China Index rose by 0.39%, and the A50 futures overnight increased by 0.17%, with the midday increase dropping to 0.02%. Hong Kong stocks showed weakness in the morning, with the Hang Seng Index opening down 0.4% and then rebounding after hitting the bottom, narrowing the midday decline to 0.21%; the Hang Seng Tech Index saw a midday decline that once reached 1.11%, which also narrowed to 0.2% by noon.

3. A-shares major indices are rebounding after hitting the bottom

In the morning, A-shares were originally weak, with Shanghai stocks experiencing a plunge at the opening. Under the support of heavyweight stocks, the intraday decline of the index was only 0.31%. However, the subsequent rebound of theme stocks led heavyweight stocks to recover, with the Shanghai Composite Index turning red at noon, slightly up by 0.08%, closing at 3878.99 points. Additionally, the Shenzhen Component Index, ChiNext Index, and Sci-Tech Innovation 50 Index saw intraday declines of 0.50%, 0.55%, and 1.65%, respectively, all turning red by noon, with increases of 0.39%, 0.47%, and 0.05%.

4. Relative low trading volume status

In the morning, most stocks in the two markets rose, while fewer fell. Although the index did not rise much, individual stock performances were excellent, with a total of 3535 stocks rising and only 1705 stocks falling, and only 107 stocks seeing a decline of ≥3%. Surprisingly, the trading volume did not break one trillion during such a rebound, only reaching 992.7 billion. If this continues in the afternoon, the trading volume might hit a new low today, currently in a state of relative low trading volume.

In summary, we are currently in a period of adjustment and consolidation before the spring rally starts, and the extreme shrinkage of trading volume is a normal phenomenon. After the bull market began in September last year, the trading volume was around 1.5-1.6 trillion each time, which coincided with the market's relative low point, and the market often surged after that. Next Thursday morning, which is December 11th Beijing time, the Federal Reserve's interest rate cut will be implemented. We will see if the trading volume can start this month, along with the market recovery, gradually launching the spring market.