Core Viewpoint - The A-share market experienced a significant decline in new financing and securities lending accounts in October, with 130,200 new accounts opened, a decrease of 36.61% from September's 205,400 accounts. Despite this, the total number of financing and securities lending accounts reached 15.39 million, and the balance of financing and securities lending increased to 2.49 trillion yuan, up from less than 1.9 trillion yuan at the beginning of the year [1][2][6]. Group 1: Market Trends - The new account openings for financing and securities lending in October were affected by the National Day holiday and market volatility, leading to a noticeable decline, but it still marked the fourth highest monthly total of the year [4][5]. - The market has shown significant fluctuations in new account openings throughout the year, with peaks and troughs observed in various months, indicating a volatile investor sentiment [3][4]. Group 2: Brokerages' Response - Major brokerages are actively expanding their financing and securities lending business scales in response to the sustained demand for credit trading in the A-share market. For instance, China Merchants Securities raised its business scale limit from 150 billion yuan to 250 billion yuan, while Huatai Securities set its limit at approximately 286.5 billion yuan [1][8]. - At least six securities firms have announced increases in their financing and securities lending business limits this year, reflecting the robust demand for these services [9][11]. Group 3: Investor Behavior - The decline in new account openings is attributed to two main factors: the reduction in trading days due to the holiday and the market's fluctuating conditions, which have dampened investor enthusiasm for entering the market [4][5]. - Despite the short-term decline in new account openings, industry insiders believe that the long-term demand for financing and securities lending remains positive, supported by investor confidence and favorable policies [1][6].