A股10月新开户环比减少21%，散户年内新开2237万户

Summary of Key Points Core Viewpoint - The number of new A-share accounts opened in October decreased significantly, reflecting a struggle between short-term market sentiment and long-term structural momentum, with a notable decline in investor enthusiasm due to weaker economic data and increased market volatility [1][5]. Group 1: New Account Data - In October, 2.3099 million new A-share accounts were opened, a decrease of 21% from September and a 66% decline year-on-year [2][4]. - For the first ten months of 2025, a total of 22.4588 million new accounts were opened, representing a year-on-year growth of 10.57% [1][5]. - The majority of new accounts in October were from individual investors, totaling 2.3022 million, while institutional accounts fell to 0.077 million [1][5]. Group 2: Market Trends and Analysis - The trend of new account openings has shown fluctuations, with a peak in March at 3.0655 million accounts, followed by a decline in subsequent months [4]. - Analysts suggest that the A-share market is likely to enter a period of consolidation with a lack of clear directional catalysts, leading to a predominantly oscillating market in the short term [6][8]. - The current market environment is characterized by a balance between growth and value styles, with a focus on technology and cyclical sectors [7][8]. Group 3: Future Outlook - Short-term market performance is expected to remain volatile, but there is potential for recovery in the medium to long term if economic conditions improve and foreign capital returns [5][6]. - Analysts predict that the market may face challenges in spring 2026, including demand verification and valuation pressures in the technology sector [8].