Core Viewpoint - The trading volume in A-shares is heavily concentrated in the first half hour of the morning session, accounting for approximately 25% to 32% of the total daily trading volume, due to factors such as the T+1 trading system, information release patterns, and investor behavior [1][4][10]. Group 1: Trading Volume Concentration - A-shares see significant trading activity in the first half hour of the morning, which can represent up to one-third of the total daily volume [1][4]. - Other notable trading peaks occur shortly after the afternoon session opens and just before the market closes, collectively accounting for nearly half of the daily trading volume [4][14]. Group 2: Reasons for Trading Patterns - The T+1 trading system restricts investors to one trading opportunity per day for each stock, leading to a heightened focus on timing, with most choosing to trade in the morning [7][11]. - Information is primarily released after market close, prompting investors to react quickly the next morning, which drives concentrated trading activity in the early session [8][10]. - Institutional investors prefer to trade during busy periods to minimize the impact on stock prices, further amplifying the trading volume during the first half hour [11][14]. Group 3: Afternoon Trading Peaks - The first 15 minutes after the afternoon session begins sees increased trading as investors reassess the morning's performance and react to any new information released during the lunch break [14]. - The last 10 minutes before market close is characterized by cautious investors making final decisions based on the day's observations, either to secure positions or mitigate risks [14].

Group 1: Principles and Appeal of Fund Investment - Fund investment, or systematic investment plan (SIP), involves investing a fixed amount at regular intervals into a designated fund, effectively averaging costs and mitigating market volatility risks [2] - Historical data indicates that consistent investment in a quality index fund over the past decade could yield an average annual return of approximately 10% to 15%, making it attractive for average investors [2] Group 2: Pitfalls of Fund Investment - Fund investment is not a guaranteed profit strategy; market complexities can lead to significant short-term losses, as seen during the 2008 financial crisis and the 2020 COVID-19 pandemic [3] - The selection of the fund is critical; poor-performing funds due to mismanagement or flawed investment strategies can hinder potential returns, regardless of the investment duration [3] Group 3: Invisible Factors Affecting Returns - Investor psychology and behavior significantly impact fund investment outcomes; fear of losses may lead to halting investments during downturns or premature withdrawals during slight recoveries [4] - The investment duration is crucial; a long-term commitment of at least 3 to 5 years is generally necessary to smooth out market fluctuations and realize the benefits of systematic investment [4] Group 4: Best Practices for Fund Investment - Selecting high-quality funds with professional management, sound investment strategies, and strong historical performance is essential for successful fund investment [5] - Maintaining a positive mindset and not being swayed by short-term market fluctuations is vital for investors [5] - A well-planned investment duration of at least 3 to 5 years is recommended to maximize the advantages of fund investment [5] Group 5: Conclusion on Investment Strategy - Fund investment is likened to a marathon, requiring the right strategy, steadfast belief, and a calm mindset; it is a relatively stable investment method but not infallible [6] - Investors should prepare adequately by selecting quality funds, planning investment timelines, and remaining composed during market volatility [6]