By Zheng Buchun

A-shares started to rebound on Tuesday with Shanghai Composite up 0.17% to 3108.77 points and Shenzhen Composite up 1.17% to 1873.02 points. Growth enterprise index and small and medium board also rose significantly.

LeEco rose to its daily limit of 10% yesterday, which helped drive up prices of other stocks. Sub-new stocks also start to rebound after so many days of falling.

Market trend is determined by large shareholders. In the past few days, stock prices of oil companies, state-owned enterprises, and insurance companies are pulled up. However, major private stockholders of start-ups and newly-listed companies did not follow. They only start to buy stocks on Tuesday simply because stocks are oversold.

Although the A-share market is improving, there is still little chance for a major rebound. From today on, foreign exchange rates are more likely to fluctuate. Also, investors are advised to pay attention to Brexit and Trump's new policies.

In my opinion, the A-share market will stay steady during the coming Spring Festival.

(Zheng Buchun is NBD's columnist)

Email: tanyuhan@nbd.com.cn