According to a research report released by China Merchants Securities, the market performance of A-shares before and after the National Day showed a certain calendar effect. Market trading was relatively light before the National Day, and some capital flowed out due to safe-haven demand, leading to poor market performance. Market risk appetite improved after the National Day, and major indices often rebounded. Judging from the performance of A-shares in the past ten years in the week after the National Day, the probability that the Shanghai Composite Index, the Shanghai and Shenzhen 300, and China Securities 1000 Index will rise is close to 60%. However, as the market's awareness of the traditional calendar effect of taking refuge before the National Day and the rebound after the holiday deepened, in the past two years, this rule has seen a pre-holiday rush with a learning effect, increasing the average increase in the market before the National Day in the past ten years.

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