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自8月中旬以来的一个月时间里,沪深 B 股在低位反弹后走势呈窄幅整理特征,这与前一时期大幅上扬、快速回落的状况有着显著差异。人们在讨论证券市场多变的内、外部环境的同时,更加关注 B 股下一步将会发生哪些变化。沪市 B 股指效2月末上涨至5月底,基本上是直线上行,中间只作短暂停顿。经过6月初至7月中旬高位整理后,向下回落趋势明确,此后加速下行,直至跌幅接近40个百分点时方才止住。急涨急跌的情况表明市场理性不足,市场参与者对股价判断缺乏恒定标尺。市场上行时,认为 B 股将与 A 股接轨的观点占据
During the one-month period since mid-August, the movements of Shanghai and Shenzhen B stocks in a narrow range after a low rebound showed a narrow trend, which was significantly different from the sharp rise and rapid decline of the previous period. While discussing the changing internal and external environment of the securities market, people are paying more attention to what will happen next in the B-share market. Shanghai Stock Exchange B Stock Index rose at the end of February to the end of May, basically straight up, the middle only for a brief pause. After the highs of early June and mid-July, the downward trend was clear and then accelerated downward until it fell nearly 40%. Sharp plunge in the case of market rationalism, market participants lack of judgment on the stock price scale. When the market goes up, we think B shares will occupy the view of A shares