# market calendar effect

A‑share Holiday Dilemma: Historical Spring Rally Gives Investors Reason to Hold Stocks — With Caution

China’s A‑shares historically show a strong probability of rising in the first five to ten trading days after the Lunar New Year, prompting many analysts to recommend carrying a partial equity position through the holiday. Reduced pre‑holiday volumes and sector rotation toward defensive and consumer names temper the optimism, and the long market shutdown raises the risk of gap moves from unforeseen headlines.