On the last trading day of August, A shares surged strongly. As of the close of the day, the Shanghai Composite Index rose 0.68% to close at 2842.21 points; the Shenzhen Stock Exchange Component Index rose 2.38% to close at 8348.48 points; the GEM Index rose 2.53% to close at 158

As of the close of the day, the Shanghai Composite Index rose 0.68% to close at 2842.21 points; the Shenzhen Component Index rose 2.38% to close at 8348.48 points; the GEM Index rose 2.53% to close at 1580.46 points.

The turnover in the two cities was 876.6 billion yuan, a significant increase of 269.4 billion yuan from the 607.2 billion yuan on the previous trading day.

Industry sectors rose almost across the board, with the number of rising stocks approaching 4,700. Among them, the brokerage, insurance, consumer electronics and other sectors performed particularly well. What happened to

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analysts said that it is difficult to summarize a specific reason for the one-day surge, but there are indeed several positive factors behind the surge.

First, the RMB exchange rate is strong. In the context of the Federal Reserve's interest rate cut in September, the spot exchange rate of the onshore RMB against the US dollar appreciated to a maximum of 7.0825 that day, and the offshore RMB to US dollar exchange rate also reached a maximum of 7.0709 during the session. The strengthening of the RMB exchange rate will also better attract foreign investment to return to cost-effective Chinese assets such as A-shares.

The second is the capital style conversion. The most noteworthy phenomenon that day was that everyone was rising, but only banks were falling. Bank of Communications fell more than 5%, China Construction Bank , Industrial and Commercial Bank of China , Agricultural Bank of China , etc. all fell by more than 3%. This is in sharp contrast to the previous trend of bank stocks hitting record highs every day. It is obvious that in the short term, blue chip stocks, especially bank stocks, that were grouped together in the early stage have loosened. Funds are taking profits from the bonus sector of banks and flowing to small and medium-sized stocks. Some oversold sectors and individual stocks are beginning to attract attention.

Third, the semi-annual report disclosure has come to an end. With the gradual disclosure of semi-annual reports of listed companies, previous concerns about the performance of some stocks are fading. Combined with the gradual easing of fund redemption pressures, market sentiment is expected to bottom out and rebound.

The fourth is the influence of rumors. A rumor about a reduction in existing mortgage interest rates appeared in the market today, triggering the rise of the real estate sector in the afternoon. Real estate ETFs rose by more than 6%, Gemdale Group hit the daily limit, Vanke rose by more than 8%, China Merchants Shekou and other stocks also experienced significant increase.

However, some people believe that the three major A-share indexes rose and fell after 14:00 that day. Whether they can maintain their strength in the future remains to be seen. After all, the same surge has been staged on the last trading day of July...