成交接连放量上证综指创下近10年新高，谁在爆买A股？

Core Viewpoint - The A-share market has shown strong performance, with the Shanghai Composite Index surpassing 3800 points, marking a near 10-year high, driven by increased trading volume and active participation from retail investors [2][3]. Group 1: Market Performance - The Shanghai Composite Index has increased by over 7% year-to-date, achieving a near 10-year high [2]. - Daily trading volume in the Shanghai and Shenzhen markets has consistently exceeded 2 trillion yuan [2]. - The number of new A-share accounts has risen significantly, with over 14 million new accounts opened this year, reflecting a 36.88% year-on-year increase [3]. Group 2: Retail Investor Activity - Retail investors have been a major source of liquidity, with small orders (below 50,000 yuan) continuing to net buy since the end of last year, with a 31% increase in net buying in August compared to July [2][3]. - In July, new A-share accounts reached 1.9636 million, a 20% increase from June [3]. Group 3: Margin Trading - The margin trading balance has surpassed 2 trillion yuan for the first time since July 2015, reaching 21,175.10 billion yuan on August 19, with a notable increase in financing balance [4]. - The financing buy ratio remains around 11%, indicating a healthy level of leverage in the market [4]. Group 4: Institutional Investment - Private equity funds have been increasing their positions, with the stock private equity fund position index rising to 74.86% as of August 15, indicating a strong willingness to increase exposure [5]. - The proportion of fully invested private equity funds has significantly increased to 61.97% [5]. Group 5: Public Fund Activity - Public funds have shown limited willingness to increase positions, with a decrease in large institutional net inflows since July [6]. - The asset net value of actively managed equity public funds has dropped to 3.4 trillion yuan, the lowest in 20 quarters [6]. Group 6: Foreign Investment - Foreign capital participation in the A-share market has been increasing, with a net inflow of 20 billion yuan from overseas funds in July [7]. - The average daily trading volume of northbound funds reached 202.4 billion yuan in July, a 36.3% increase from June [7].