8大特征！A股这波资金入市高峰在2月、4月与7月

Core Viewpoint - The A-share market is experiencing significant inflow of funds, particularly in the second half of 2025, with notable trading volumes indicating a return of market liquidity to high levels [2][4]. Fund Inflow Analysis - The actual situation of fund inflow in the stock market has been positive this year, with a clear correlation between the inflow of funds and the market's profitability [4]. - Key months for fund inflow include February, April, and July, coinciding with major market events that boosted investor confidence [6]. - As of August 5, the Shanghai Composite Index reached 3619.67 points, showing substantial growth since the beginning of the year [6]. Characteristics of New Investors - The proportion of young investors, particularly those born in the 1990s, has increased, with this age group accounting for 52.9% of new accounts in the first half of 2025 [8]. - Online channels have become the primary means for new account openings, with approximately 70% of new clients using digital platforms [9]. - Investors from first-tier cities like Shanghai and Shenzhen show higher enthusiasm and larger inflow amounts compared to those from lower-tier cities [10]. Investment Trends - The current wave of new investors exhibits a high-risk appetite, favoring high-volatility and high-growth sectors such as pharmaceuticals, technology, and brokerage firms [11]. - Social media significantly influences investors' decisions, with platforms like Douyin and Xueqiu becoming primary sources of information [11]. - There is a noticeable shift towards more rational investment behavior, with investors analyzing market trends and fundamentals rather than reacting impulsively [12]. Investment Tools and Strategies - The trading volume of ETFs has increased significantly, with a nearly 70% year-on-year growth in the first seven months of the year, indicating a trend towards tool-based investing [12]. - Participation in the Hong Kong stock market through the Stock Connect program has surged, with inflows reaching 866.8 billion HKD by July, surpassing the total for the entire previous year [13].