两融余额再创新高 哪些行业受资金青睐？

Core Viewpoint - The A-share market's margin trading balance has seen significant growth, surpassing historical records, indicating an increase in market risk appetite and a more favorable liquidity environment [4][5]. Group 1: Margin Trading Balance - Since August 2025, the margin trading balance has consistently broken through key thresholds, reaching 24,054 billion yuan by September 17, 2025, marking a historic high [4]. - The margin trading balance has increased from 20,003 billion yuan on August 5, 2025, to over 24,000 billion yuan within a month, reflecting a robust upward trend [4]. - As of September 18, 2025, the margin trading balance accounted for 2.53% of the A-share market's circulating market value, showing a slight increase but remaining stable compared to historical averages [4]. Group 2: Industry Preferences - Recent data indicates that financing funds have favored high-growth sectors, with electronics, power equipment, telecommunications, non-bank financials, and computers leading in net buying amounts [5]. - The trend suggests a clear preference for industries with high growth potential, indicating orderly rotation of industry hotspots [5]. - Despite the increase in margin trading balance, its proportion relative to the circulating market value remains at historical mid-levels since 2016, suggesting a cautious yet optimistic market sentiment [5].