On December 4, government bond futures extended their losses, with the 30-year bonds dropping nearly 1% and the 10-year bonds falling 0.3%. A-shares and U.S.-listed Chinese stocks performed weakly, and Vanke’s onshore bonds experienced significant declines. The market weakness may be due to year-end liquidity expectations and concerns over corporate profit growth, with the Japanese market also acting as a disruptive factor. Pacific Securities is optimistic about a rebound in global risk appetite, expecting A-shares to trend upward in the medium to long term. Dongwu Securities notes that the Hong Kong stock rebound requires new catalysts and warns of overseas risks#广场发帖领$50 .