So that's your scorecard for this Thursday as we get up and running for trade. Plenty of moving parts in these markets. Obviously we've also had some macro data out this morning.So let's get to Kevin Green who joins me now for a snapshot of what has been going on here and obviously we got some initial jobless claims as well. 236,000 the trade deficit coming in at 52.8% billion as well. So that trade gap narrowing.What's the sort of major takeaway from what we're seeing today out there. because I also heard ...

Core Viewpoint - The market is experiencing significant capital outflow, with nearly 60 billion yuan leaving, indicating a critical test for the market ahead Group 1: Market Performance - The Shanghai Composite Index briefly surpassed 4010 points, but trading volume decreased by 210 billion yuan compared to the previous day, suggesting a lack of genuine market enthusiasm [3] - On Tuesday, the index fell back to a slight loss after reaching 4000 points, with over 2900 stocks declining and a net capital outflow of 59.2 billion yuan, equating to approximately 1.3 million yuan leaving per minute [6] - The afternoon sell-off was not unexpected, with net outflows reaching 355 billion yuan by 1:25 PM and exceeding 500 billion yuan by 1:45 PM, indicating a significant withdrawal of funds [8] Group 2: Sector Analysis - The banking sector was the primary driver of the index increase, with Agricultural Bank hitting a historical high, while sectors like semiconductors and securities lagged behind [3] - Defensive banking stocks rose against the backdrop of declining cyclical and technology stocks, highlighting a market split [8] - Historical data shows that the A-share market has only successfully maintained above 4000 points three times out of eleven attempts, with the current situation influenced by policy expectations and technical pressures [10] Group 3: Investor Sentiment - Investors are cautious, with public fund reports indicating that the electronics sector's holding ratio has surpassed 20%, nearing crowded thresholds [12] - There is a prevailing sentiment of uncertainty, as traders are hesitant to make heavy bets, fearing that any index rise could trigger further sell-offs [12]