Margin debt balances across China’s stock markets expanded further, with combined Shanghai and Shenzhen figures reaching 1.80 trillion yuan (+960 million yuan day-on-day). The Shanghai Stock Exchange saw financing balances grow by 931 million yuan to 912.342 billion yuan, while the Shenzhen Exchange recorded a 29.02 million yuan increase to 886.902 billion yuan.
The uptick reflects renewed risk appetite among leveraged investors amid the market’s recent rebound. Notably, Shanghai’s larger increment suggests institutional traders are deploying more capital into blue-chip stocks, whereas Shenzhen’s modest rise indicates cautious positioning in growth-oriented sectors.
While the overall leverage level remains below 2021 peaks (when balances exceeded 2 trillion yuan), the sustained expansion signals confidence in the A-share recovery. However, regulators may monitor the pace of growth to prevent overheating, especially if retail participation accelerates sharply.
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