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European and American stock markets are mixed. Last night, the ups and downs of European and American stock markets had a neutral impact on today's A-share market, with the Dow Jones index falling by 99 points and the Nasdaq index rising by 347 points. European stock markets were also mixed, with the offshore RMB exchange rate closing at around 7.27. On Wednesday, the A-share market was divided, with the two main board indexes turning red and rising, while the two innovation indexes all closed green and fell. Judging from the trend of daily K-line, the Shanghai Composite Index still stands above the short-term moving average, but the turnover of Shanghai Stock Exchange has decreased by as much as 170 billion. In a strong market, the Shanghai stock index needs to increase the volume to confirm the effectiveness of the breakthrough, and the increase in shrinkage will increase the risk of its high and low. Therefore, without the support of turnover, today's Shanghai stock index will also have the risk of downward adjustment, and the five-day moving average is an important support for the Shanghai stock index.

A,H shares are listed at the same time, and the lower the premium of A shares, the greater the room for future growth. Many listed companies in the A-share market are also listed on the Hong Kong Stock Exchange. For example, the four major banks we are familiar with, Ping An and BYD I, are large enterprises with A and H shares listed at the same time. At present, 151 companies in the A-share market are listed in both places. Under normal circumstances, the share price of A shares is much higher than that of Hong Kong stocks, and there will be a certain premium for A shares due to institutional reasons. Historical trends tell us that the lower the premium, the stronger the motivation for future growth. Many retail investors are not qualified to invest in Hong Kong stocks, but we can choose A-share companies with relatively low premium. Companies whose A and H shares are listed at the same time, and whose A-share premium is less than 20%, are worthy of our long-term attention. They have hedging properties and also have the power to rise steadily.