By Zheng Buchun

A-shares fell Thursday with Shanghai Composite down 0.56% and Shenzhen Composite 0.87%. In addition, small and medium enterprise board and growth enterprise market dropped 1.02% and 0.72% respectively.

The A-share market did well on the morning session, but showed a massive selloff in the afternoon. Many investors have already sensed risks.

In terms of IPOs, we don't know when the government will step in. Therefore, it is hard to tell the market trend. Under such a circumstance, investors should be careful about your position size.

The A-share market will to reach the level of the end of 2016 if it continues to tumble. However, I think it can survive the downturn in the end. Investors have to pay attention to Donald Trump's new policies after he takes office at January 20. As long as your investment portfolio is not overweight, you can step back and take wait-and-see stance.

(Zheng Buchun is NBD's columnist)

Email: tanyuhan@nbd.com.cn