The US market fell 2% last night.

The A-share index is also expected to decline today.
Recently, commercial spaceflight and some high-flying stocks have trapped a lot of hot money.
Market sentiment is not very good, which is why I haven't made much money this month.
Today, the Beijing Stock Exchange is about to set a record, with new share subscription funds likely to exceed 1 trillion yuan.
Some banks need to meet quarterly targets, so they will spend money to find funding intermediaries to buy deposits. Usually, in the last few days, the amount is around 20-30 billion yuan.
In the past few days, the interest rates for various bridge financing have increased, mainly because of two consecutive new share subscriptions on the Beijing Stock Exchange.
Previously, a single account participating in new share subscriptions could top out at about 10 million yuan, but today, Meidele (920119) hit a record with a maximum of 30.15 million yuan, so there will likely be some selling stocks to participate.
Actually, the maximum is about 400 shares at 41.88 yuan per share, totaling 16,752 yuan in new stock purchases, but it requires 30 million yuan to be held for two days.
If only 100 shares are needed, about 8 million yuan is required to hold for two days, which can buy new stocks worth 4,188 yuan.
Recently, new stocks on the Beijing Stock Exchange have been trading at several times the market value. Depending on the industry, for example, in the tech sector, the most profitable recent subscription for a single project and account was about 300,000 yuan.
Overall, participating in every new stock on the Beijing Stock Exchange in 2025, with a 3%-4% annual return, is not a problem.
Plus, I also share in: Investor's Monologue, the "One Fish Four Eats" strategy—1st: usually invest in government bonds or money market funds; 2nd: boost volume at banks at quarter-end; 3rd: participate in new shares on the Beijing Stock Exchange; 4th: collaborate with some brokerages and banks, treating assets as bank assets, and earning some bank points and credit card benefits.
Conservatively, the overall return is around 5-6%, which is almost risk-free. Given the current market interest rates, it can be considered a paradise for R2 risk enthusiasts.
However, the most common case recently is: earning the threshold funds for participation through circle of friends, but struggling because they haven't traded before. The Beijing Stock Exchange requires two years of experience, meaning there must be trading records from two years ago, so they cannot open the permissions.