年内A股新开户数超2245万户

Core Viewpoint - The A-share market is experiencing a gradual upward trend, with a significant increase in the number of new investor accounts, indicating a maturing market environment [1][6]. Summary by Sections New Account Openings - In October 2025, the Shanghai Stock Exchange (SSE) recorded 2.3099 million new A-share accounts, a decrease of 21.36% from September's 2.9372 million accounts [3][5]. - The total number of new A-share accounts for the first ten months of 2025 reached 22.4588 million, representing a year-on-year growth of 10.57% compared to 20.3115 million in the same period last year [6][10]. - The cumulative total of A-share accounts reached 39.24515 million by the end of October 2025 [6][7]. Institutional Investors - The number of institutional investors has been steadily increasing, with a total of 1.2366 million institutional accounts by the end of October 2025 [7][8]. - In the first ten months of 2025, there were 83,800 new institutional accounts opened, reflecting growing confidence among professional investors in the A-share market [8][10]. - The increase in institutional accounts is seen as a sign of market maturity and is expected to enhance market pricing efficiency and reduce irrational volatility [1][8]. Market Trends and Investor Behavior - The A-share market has shown structural trends, with significant sector performance disparities; for instance, the Shanghai Composite Index rose by 18.42% year-to-date, while the ChiNext Index surged by 47.84% [10][11]. - The influx of new investors is attributed to diverse sources of capital, including financing funds, foreign investments, and various institutional funds [10][11]. - High-net-worth individuals are increasingly turning to equity markets, indicating a shift in investment behavior towards a more rational approach [11][12]. Market Outlook - Analysts suggest that the A-share market may experience a style rebalancing in November, with potential fluctuations as investors adjust their portfolios ahead of the spring market [12]. - The market is expected to navigate through a phase of consolidation, which could relieve pressure on the funding environment while maintaining a long-term growth trajectory [12].