倒车接人？ 9月2日，市场全天震荡调整，创业板指领跌。沪深两市全天成交额2.87万亿，较上个交易日放量1250亿。截至收盘，沪指跌0.45%，深成指跌2.14%，创业板 指跌2.85%。 融资余额创A股历史新高,连续20个交易日突破 场情绪持续活跃 尽管市场交易热度持续攀升，但多项关键指标显示，当前A股杠杆水平仍处于历史中枢位置， 现过度杠杆化风险。从市场参与主体来看，个人投资者仍是两融市场的重要力量，且参与郝 据显示，截至9月1日，A股两融个人投资者数量达761.48万名，仅8月以来就净新增8.25万户 资者8月以来净增12.27万名，有融资融券负债的投资者也净增5.43万名。 原创 2025-09-02 15:24 星期二 财联社记者 王晨 券商动态 ①9月1日A股融资余额攀升至2.28万亿元创A股历史新高 ; ②多项关键指标显示，当前A股杠杆水平仍处于历史中枢位置,整体运行稳健; 3个人投资者仍是两融市场的重要力量; ④行业来看，电子、通信、计算机8月以来融资净买入居前。 财联社9月2日讯（记者 王晨）最新数据显示，昨日A股融资余额攀升至2.28万亿元，打破2 亿元的纪录，创下A股史上新高。同日，两融余 ...

Group 1 - The financing balance of A-shares has surpassed 2.28 trillion, reaching a historical high [1][3] - The current financing balance accounts for a lower percentage of the circulating market value compared to the peak in 2015, indicating a larger market size [3] - The ratio of financing purchases to transaction volume is at 11.63%, reflecting a moderate level of leverage and a lack of collective market frenzy [3] Group 2 - The average collateral ratio remains high, suggesting that investors have a solid financial cushion [3] - The recent surge in A-share transaction volume, exceeding 1 trillion for several consecutive days, indicates a vibrant market environment [3] - The increase in financing balance is seen as a normal response to market activity, rather than a sign of excessive speculation [3][4]

Group 1 - The core viewpoint of the article highlights that the financing balance of A-shares reached a record high of 2.28 trillion yuan on September 1, surpassing the previous peak of 2.27 trillion yuan on June 18, 2015 [1] Group 2 - The financing buying amount on the previous day was 323 billion yuan, accounting for 2.40% of the circulating market value and 11.63% of the total A-share trading volume [2][4] - The current financing balance as a percentage of the circulating market value is significantly lower than the historical peak of 4.72%, indicating a stable leverage level in the market [2][4]

华泰证券认为，核心资产更是成为市场关注焦点。分析认为，在净利率改善、周转率企稳、权益乘数上 行背景下，A股ROE有望结束下行周期，伴随盈利周期的复苏逐步进入企稳回升阶段。具体来看，核心 资产在过去三年展现出卓越的基本面韧性，有望在本轮ROE周期回升内担任"先锋手"。 展望下一阶段，有机构认为，9月市场保持震荡上行的概率仍然较大，但是斜率较8月可能会相对放缓。 目前驱动指数上行的关键力量来自增量资金流入所形成的正反馈。同时，9月外部环境相对平稳，美联 储开启降息窗口的预期较高，海外流动性边际转向宽松，人民币资产的吸引力有望进一步提升。 场内ETF方面，截至2025年9月1日收盘，中证A500指数上涨0.85%，A500ETF龙头(563800)收涨0.62%， 实现3连涨。成分股兴齐眼药上涨14.65%，先导智能上涨14.62%，中际旭创上涨14.42%，天孚通信上涨 11.90%，迈为股份上涨11.45%。 前十大权重股合计占比19.11%，其中紫金矿业上涨5.63%，美的集团跟 涨。 财信证券指出，上周指数大幅波动后，A股市场筹码结构有所改善，市场走强基础进一步夯实。从中期 来看，"反内卷"政策及需求端政策 ...

新闻荐读 9月1日媒体报道，近期，A股融资余额规模继续攀升，据盯盘数据，截至8月29日，沪深京三市目前已 达22454.72亿元，续创近十年新高，同时距离历史最高纪录仅差211.63亿元。其中，深市目前融资余额 10971.74亿元，已为历史最高纪录。 来源：每日经济新闻 编辑：陶含 审定：金官 核发：胡盛龙 ...

近期，A股融资余额规模继续攀升，截至8月29日，沪深京三市已达22454.72亿元，续创近十年新高，同 时距离历史最高纪录仅差211.63亿元。其年内融资净买额升至3913亿元，是去年全年净买额的1.42倍。 其中，深市目前融资余额10971.74亿元，已为历史最高纪录。 （原标题：逼近1.1万亿！深市融资余额创历史新高） ...

Group 1 - The A-share market experienced a slight increase in the morning session, with the three major indices showing small gains. The total trading volume in the Shanghai and Shenzhen markets reached 1.83 trillion yuan, a decrease of 24.6 billion yuan compared to the previous trading day, with over 3,100 stocks rising across the market [1][3] - In terms of sector performance, gold concept stocks surged collectively, with companies like Western Gold hitting the daily limit. Chip and computing hardware stocks rebounded, with companies like Yuanjie Technology reaching new historical highs. Innovative drug concept stocks also saw a rebound, with Changchun Gaoxin hitting the daily limit. Conversely, satellite communication concept stocks underwent adjustments, with China Satellite and China Satcom both dropping over 5% [3] - The financing balance in the Shenzhen market reached a historical high, with the total financing balance across the Shanghai, Shenzhen, and Beijing markets reaching 2,245.472 billion yuan as of August 29, marking a near ten-year high and just 21.163 billion yuan short of the historical record. The Shenzhen market's financing balance stood at 1,097.174 billion yuan, also a historical high [4]

人民财讯9月1日电，8月以来，A股融资余额持续走高，市场交投活跃度明显提升。证券时报·数据宝统 计，截至8月29日收盘，A股融资余额达到22454.72亿元，再创近10年新高，距离历史峰值差距仅211.63 亿元。其中深市融资余额为10971.74亿元，创下历史新高。 ...

来源：Wind 从个股情况来看，8月22日至28日，融资客对252只股票加仓金额超1亿元，加仓居前的10只股票分别为胜宏科技、寒 武纪-U、中芯国际、北方稀土、海光信息、新易盛、中兴通讯、阳光电源、中际旭创、宁德时代，分别净买入48.50 亿元、39.47亿元、32.66亿元、25.37亿元、22.67亿元、19.48亿元、17.76亿元、14.88亿元、14.13亿元、13.77亿元。 8月22日至28日融资净买入金额前十股 Wind数据显示，截至8月28日，A股融资余额报22284.42亿元，创逾10年新高。8月22日至28日，A股市场融资余 额"五连增"，合计增加964.90亿元。 具体来看，8月22日A股融资余额增加81.74亿元，8月25日增加328.44亿元，8月26日增加191.90亿元，8月27日增加 201.94亿元，8月28日增加160.88亿元。此外，在8月11日至28日，融资买入额占A股成交额连续14个交易日超10%。 8月13日至28日，A股连续12个交易日成交额与两融余额均超2万亿元。 从行业情况来看，8月22日至28日，申万一级31个行业中，仅有基础化工、综合行业融资余额分别减少 ...

Group 1 - The A-share financing balance has reached approximately 20,121.88 billion yuan as of August 11, marking a significant milestone as it surpasses 20 trillion yuan for the first time in ten years [1] - The total margin balance accounts for 2.23% of the A-share circulating market value, indicating a relatively low leverage level compared to the peak of over 4% in 2015 [1] - The number of investors participating in margin trading has exceeded 7.5 million, a substantial increase from less than 4 million a decade ago, reflecting a broader market participation [1] Group 2 - Since June 3, 2023, seven industries have seen financing balances exceed 100 billion yuan, including electronics, non-bank financials, computers, pharmaceuticals, power equipment, machinery, and automobiles [2] - Eight industries have recorded net inflows exceeding 10 billion yuan during the same period, with notable sectors being pharmaceuticals, electronics, computers, power equipment, machinery, non-ferrous metals, automobiles, and defense [2]