During the 7-day National Day holiday, brokers worked overtime for 7 days, grandpas and grandmas lined up to open accounts, and various platforms worked overtime to lend small amounts, all for today's impact on the A-share market. However, today's A-share market was indeed affected by the holiday A50 and Hong Kong stocks. The Shanghai Composite Index opened nearly 10% higher in a single day, and the opening price has exceeded 3,700 points. But then due to the decline of A50, individual stock indexes also fell one after another. The current index is around 3,450. Accounts opened during the National Day holiday cannot be traded on the first day of the opening, so tomorrow will be the time for these new retail investors to rush in. Let's see how big the impact of grandpas and grandmas is. For the index, the scene of a 25% increase in 3 weeks is really something that has not happened in recent years, and the short-selling button has been pressed, plus the inflow of domestic and foreign capital, it is not very realistic to press it back directly, but there must be some adjustments. I think this atmosphere can last at least 1-2 weeks. Last week's non-farm data has lowered expectations for a further 50-point rate cut in November. As the economic situation has begun to improve, the pace of rate cuts has slowed down. Coupled with the unstable factors in the Middle East, the US stock market did not perform well during the holiday, and the B-market also performed generally. The CPI data was released on Thursday, and the Fed officials spoke intensively. Of course, the CPI data has little impact on the rate cut. Currently, the biggest impact is on non-farm and unemployment, so the macroeconomic situation is not too different. Two more 25 points this year should not be very different.
On October 8, John Dorsey, a judge of the Delaware Bankruptcy Court, approved the bankruptcy plan of the cryptocurrency trading platform FTX to initiate the process of distributing funds to creditors. According to the FTX bankruptcy plan, 98% of creditors will receive cash of approximately 119% of the value of their claims within 60 days after the liquidation plan takes effect. $14.7 billion to $16 billion will be returned to creditors. The debtor will separately announce the effective date of the plan and the expected first distribution date at an appropriate time. These funds will not go to A, but will stay in B, so B will soon have funds involved.