[China International Capital Corporation: four major indicators preliminary hint that the current position of A-share bottom characteristics need not be pessimistic]-according to the latest research report released by China International Capital Corporation, taken together, the rapid decline of the current index has led to some indicators that initially indicate the characteristics of A-share bottom. First of all, the forward price-to-earnings ratio of the CSI 300 index is historically low, and the equity risk premium has risen to 0.8 times the standard deviation above the average, indicating that the current risk appetite of investors is low. Second, interest rates on 10-year Treasuries are close to the bottom of the stock market phase at the end of October last year. "again, recently, the daily turnover of the two cities has dropped to less than 800 billion yuan, and the corresponding turnover rate according to the free circulation market value has dropped to less than 2%, which has entered the area where the historical turnover rate of A shares is on the bottom side. Finally, the recent release of new funds is not as expected, IPO has also broken again, the above are often some common bottom characteristics of A-share history. " China International Capital Corporation further pointed out. China International Capital Corporation judged that although combined with the current domestic economic environment and external disturbances, the decline in short-term investors' risk appetite may continue to affect asset price performance before obvious favorable factors appear, but China's domestic demand market has great potential and sufficient policy space, the current position need not be pessimistic about the A-share market, and the medium-term market opportunities outweigh the risks.