A股两融余额处历史高位，有券商转向降杠杆

Group 1 - The core viewpoint of the article highlights that the A-share margin financing balance has reached a historical high, exceeding 2.4 trillion yuan, indicating strong market demand and potential risks associated with high leverage [1] - The A-share margin financing balance hit a record high of 2.4455 trillion yuan on October 9, coinciding with the Shanghai Composite Index reaching a ten-year peak, but subsequently decreased due to market corrections [1] - On October 13, the margin financing balance increased by 25.94 billion yuan, reaching 2.4444 trillion yuan, with the financing balance specifically at 2.4279 trillion yuan [1] Group 2 - Huayin Securities raised the financing margin ratio for certain securities from 80% to 100% on October 13, citing rapid growth in financing balance as a reason for this risk management adjustment [1] - Multiple industry experts indicated that while the current margin financing balance is at a historical high, the overall risk remains manageable, as the collateral ratio is at a median level compared to previous peaks [1] - The proportion of margin financing balance to the A-share circulating market value is still lower than the peak observed in 2015, suggesting that while there are concentrated risks, the overall market risk is controllable [1]