市场对人民币贬值的恐慌情绪的消退加上美联储加息放缓,让10月以来A股市场出现明显反弹。未来美联储加息和人民币汇率走势仍存在变数,这将对市场走势形成牵制。A股市场反弹明显10月以来,A股市场出现明显反弹。上证综指和中证全指分别反弹12%、15%,期间成交量明显放大,融资余额上升约950亿元。6月底以来股票市场的调整与自身的泡沫化压力密切相关,但是杠杆的广泛使用及随后的清理, Market recession of RMB devaluation combined with the Federal Reserve to raise interest rates slowed down so that a clear rebound in the A-share market since October. Future Fed rate hike and RMB exchange rate movements are still variables, which will shape the market trend. A-share market rebound significantly Since October, A-share market rebounded significantly. Shanghai Composite Index and China Securities Journal witnessed a rebound of 12% and 15% respectively. During this period, trading volume expanded markedly and the balance of financing increased by about RMB95 billion. The adjustment of the stock market since the end of June is closely related to the pressure of its own bubbles. However, the extensive use of leverage and its subsequent liquidation,