The Shanghai Composite Index touched 3700, and the "underwater base" emerged one after another.

Last week, the Shanghai Composite Index briefly reached 3704.77 points, marking a return to the 3700 point level. The funds established during the previous bull market are gradually breaking free from their losses. In February 2021, the Shanghai Composite Index hit a high of 3731.69 points, followed by a period of volatile adjustments. In September of the same year, it attempted to challenge the high point again, but closed at 3723.85 points. This marked the beginning of a three-year downtrend, reaching a low of 2635.09 points in 2024. Currently, four years have passed in the blink of an eye, with the high point of 2021 almost within reach. Securities Times reporters have found that the funds established at the market peak in 2021 have become "underwater funds" with net asset values below 1 yuan, but now over half of them have recovered to reach 1 yuan, breaking even. However, there are still some products in a state of halving, with significant performance disparities.