China News Agency, Beijing, January 27 (Liu Wenwen) After experiencing a rebound on the 26th, A shares entered a downward trend again.

On the 27th, the three major stock indexes closed down collectively. Among them, the Shanghai Index fell below 3,400 points, and the ChiNext Index fell by more than 3%.

　　As of the close, the Shanghai Composite Index fell 1.78% to close at 3394.25 points, with a turnover of 346.53 billion yuan (RMB, the same below); the Shenzhen Component Index fell 2.77% to close at 13398.84 points, with a turnover of 476.44 billion yuan; the ChiNext Index fell 3.25% to close at 2906.76 points, with a turnover of 190.57 billion yuan.

Northbound funds sold a net 14.624 billion yuan today.

　　On the disk, industry sectors fell across the board, led by software development, precious metals, tourism hotels, and education sectors.

　　It is worth noting that in the early morning of the same day, the Federal Reserve announced that it would keep its benchmark interest rate unchanged at 0%-0.25%, and announced that the asset purchase program will end in early March, and will begin to shrink its balance sheet after the March meeting to raise interest rates.

　　Zhang Yiping, a macroeconomic analyst at China Merchants Securities, said the Fed said at the meeting that "once the interest rate hike starts, it will consider reducing the size of its balance sheet," which led the market to expect a tougher policy stance at the Federal Open Market Committee (FOMC) in March.

Although the Fed's monetary policy shift will have an external impact on China's policy easing, under the support of fundamentals such as the export surplus, China's monetary policy will still maintain a "stable and loose" tone.

　　The Shanxi Securities research team maintains a relatively optimistic attitude towards the market after the Spring Festival, pointing out that the recent market corrections are not due to domestic fundamentals, but are more affected by external market shocks and short-term market sentiment fluctuations.

The Fed's interest rate hike plan has been implemented, and domestic counter-cyclical and cross-cyclical adjustments are expected to keep market liquidity reasonably ample. With the gradual receding of the epidemic disturbance, the market is expected to usher in an opportunity to counterattack.

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