By Zheng Buchun

A-shares fell broadly on Monday with Shanghai Composite down 0.30% to 3103.43 points. Shenzhen main board, small and medium board, and growth enterprise market plunged 3.62%, 3.60%, and 4.38% respectively, with the biggest plunge of growth enterprises hit 7%.

Bank stocks, insurance stocks, and stocks of China's two major oil companies did well yesterday. However, stocks of small and medium enterprises, and sub-new stocks are under pressure of selling-off. After a week-long plunge, secondary blue chips also joined the list.

The falling trend on the A-share market may be caused by the increasing number of new stocks. If government won't step in, there is little chance to bounce back soon.

Big sell-offs are not necessary despite a slowing market. I still hold that there is an additional 10% downturn before they bounce back. If you are holding stocks, just hold on a little while longer and wait for better policies.

(Zheng Buchun is NBD's columnist)

Email: tanyuhan@nbd.com.cn