On July 5, the Shanghai Composite Index closed lower for the seventh consecutive week. At the end of the trading day, the Shanghai Composite Index fell by 0.26% to 2949.93 points. The total turnover of the Shanghai and Shenzhen stock markets was 574.8 billion yuan, hitting a new low for the year, with less than 600 billion yuan for three consecutive trading days. Analysts online pointed out that the trading volume of A-shares has been declining in recent trading days, indicating that investors have been leaving the stock market.
Throughout the day, the market hit a low and then rebounded. The ratio of rising to falling stocks was 3926 to 1231. At the close, the Shenzhen Component Index rose by 0.25% and the Growth Enterprise Index rose by 0.51%.
The total turnover of the Shanghai and Shenzhen stock markets on the 5th was 574.8 billion yuan, a decrease of 8.3 billion yuan from the previous trading day, hitting a new low for the year again, with less than 600 billion yuan for three consecutive trading days.
Dividend stocks such as banks collectively adjusted, with China Citic Bank falling by over 3%. Overall, more stocks rose than fell.
The self-media platform “Dominating Stock Review”, accredited as a securities investment consultant, stated that A-shares have seen 7 weeks of consecutive declines. A-shares have not experienced such a drastic decrease in trading volume in 10 years. In recent days, the trading volume of A-shares has been at yearly lows, with no interest from investors.
Looking back at the history of A-shares, the last time the Shanghai Composite Index saw seven consecutive weeks of decline was in 2018. On July 6 of that year, the three major stock indexes fluctuated downward, with the Shanghai Composite Index hitting a 28-month low and falling below 2700 points.
The Shanghai Composite Index closed at 2747.23 points with a turnover of 148.2 billion yuan. The Shanghai Composite Index fell by 3.52% for the week, the Shenzhen Component Index fell by 4.99%, and the Growth Enterprise Index fell by 4.07%.
The previous period of seven consecutive weeks of decline was between November 11 to December 23, 2011, when the market dropped from around 2500 points to near 2200 points.
In an even earlier period in 2008, there were two instances of seven consecutive weeks of decline, from August 1 to September 12, and from May 23 to July 4; additionally, there was a trend of eight consecutive weeks of decline between February 15 and April 3 of the same year.
“Stock Princess”, a self-media personality with over ten years of financial experience interpreting hot financial news, expressed on July 5, “A-shares are just unbearable to watch, the decline is brutal!”