A-shares and Hong Kong stocks suddenly surged! What happened?

On September 23, the sentiment of A-shares and Hong Kong stocks gradually strengthened. The GEM index rose and then fell back, temporarily turning green, and rose nearly 1.6% at the opening. The Shanghai Composite Index once dropped below 3800 points, and the Wande Micro-panel Stock Index fell by more than 3%. On the market, at one point, there were less than 500 stocks rising. Hong Kong's Hang Seng Technology Index once fell by more than 2%. So, what exactly happened? Analysts believe that as the long holiday approaches, leveraged funds may have a need for risk aversion, which usually leads to a wave of liquidation. This can also be seen from the fact that some hot stocks on the market rose and then fell back. On the other hand, recent trends in major markets such as the United States, Japan, and Europe have been relatively strong, which may attract some capital inflow. In addition, these markets will still be open during the National Day holiday, and some funds may make plans in advance.