2 1 Shi Ji Jing Ji Bao Dao·2025-11-13 23:05Core Viewpoint - The A-share market has seen a significant decline in new financing and securities lending accounts in October, with a total of 130,200 new accounts opened, down 36.61% from September's 205,400 accounts, attributed to the National Day holiday and market volatility [4][6]. Group 1: Market Data - As of the end of October, the total number of financing and securities lending accounts reached 15.39 million, with the balance of financing and securities lending increasing from less than 1.9 trillion yuan at the beginning of the year to 2.49 trillion yuan [2][5]. - The financing and securities lending balance has set a new historical record, surpassing 2.5 trillion yuan for the first time on October 29 [7][10]. Group 2: Brokerages' Response - Major brokerages are actively expanding their financing and securities lending business, with at least six firms announcing increases in their business limits this year, including China Merchants Securities and Huatai Securities [3][11]. - China Merchants Securities raised its financing and securities lending limit from 150 billion yuan to 250 billion yuan, while Huatai Securities set its limit at approximately 286.5 billion yuan [3][10]. Group 3: Investor Behavior - The decline in new account openings in October is seen as a normal adjustment following two months of high growth, with market sentiment and investor entry timing affecting both regular and credit trading accounts [5][6]. - The market's volatility and reduced trading days due to the holiday have contributed to a decrease in investor willingness to enter the market, despite a temporary rise in the Shanghai Composite Index [6][9].