"A tragedy caused by a single N China Construction. What is N China Construction?" In this context, "N中建" could be interpreted as "N China Construction," where "N" might represent a variable or a specific entity related to construction companies in China. However, without more context, it's hard to determine the exact meaning. It could refer to any of several China Construction companies (like China State Construction Engineering Corporation - CSCEC) with "N" being a placeholder for a number or specific branch. If you have more context or details, I can refine the translation further.

There is no baseless surge, nor is there a baseless crash.

This crash was unexpected but reasonable. It was unexpected because it was completed by taking advantage of the listing of China State Construction Engineering Corporation (initially listed as "N Zhongjian"). It was reasonable because the market had been so strong for so long that a strong shakeout was needed to clear out the profit-taking positions.

Behind the single-day plunge of 172 points, China State Construction was just one of the main culprits responsible for triggering the tragedy. Besides China State Construction, there were five other major forces at play that pushed the market down, which this newspaper will reveal one by one.