第一财经网·2025-08-19 14:13Group 1 - The potential scale of funds from residents' deposits entering the market is estimated to be around 5 trillion to 7 trillion yuan, which may exceed the scale of deposits entering the market during previous bull markets in 2016-2017 and 2020-2021 [1][8] - The recent A-share market has shown signs of a slow bull market, with a significant increase in search interest for "bull market" on social media, indicating growing investor attention [1][2] - In July, the number of new A-share accounts reached 1.96 million, reflecting a strong interest from retail investors, with net inflows from small orders increasing significantly [3][6] Group 2 - The current market rally is primarily driven by retail investor sentiment and foreign capital inflows, with insurance funds providing long-term support [3][5] - The banking sector has been a highlight, with Agricultural Bank of China reaching a market capitalization of 2.24 trillion yuan, marking a significant milestone [4][5] - The trend of residents' deposits moving towards the stock market is becoming more pronounced, with a notable decrease in fixed-term deposits and an increase in non-bank deposits [6][7] Group 3 - The overall market is expected to remain active, with potential for accelerated rotation, influenced by the progress of residents' financial migration and the global liquidity environment [6][8] - Historical data shows that during previous asset shortages, excess savings were significantly consumed in real estate and stock markets, indicating a pattern that may repeat [8] - The current environment of declining deposit rates and increased market activity suggests a shift in investor behavior, with a focus on equities over traditional savings [6][7]