Decoding the A-share Rally: Economic Data-Driven Momentum with Multiple Positive Catalysts

Since April this year, the A-share market has rebounded strongly. According to a report from Caixin on April 21, 2026, the combined turnover of the Shanghai and Shenzhen stock markets has exceeded 2 trillion yuan for the tenth consecutive trading day. Compared to the average daily turnover of 1.7 trillion yuan in 2025, the trend of rising volume and price is evident: the CSI 300 closed at 4,768 points on the same day, up 7.92% from the year's low on March 23[1]. Looking back at this round of gains, capital flows were not the only driving factor; the good start of the national economy in the first quarter, coupled with the resonance of multiple positive events, also played a key catalytic role.