On August 12, the three major indices opened higher and fluctuated upward, with the securities sector in the green. Among related ETFs, the Securities ETF (159841) rose by 0.36%, with turnover exceeding 76 million yuan and a premium/discount rate of 0.11% during the session. Among its constituent stocks, Guosheng Financial Holding hit the daily limit-up, while GF Securities, Xiangcai Co., and Cinda Securities, among others, followed the upward trend.
Notably, according to Wind Financial Terminal, the Securities ETF (159841) has seen continuous net inflows over the past six trading days, accumulating over 195 million yuan in "fund attraction." As of August 11, the ETF's latest size reached 5.991 billion yuan, making it the largest ETF of its kind in the Shenzhen market.
On the news front, recent market trading has remained active. According to the China Securities Journal, data from the Shanghai Stock Exchange website shows that A-share new account openings in July 2025 reached 1.9636 million, up 70.5% year-on-year and 19.27% month-on-month. By the end of July, a total of 14.5613 million new A-share accounts had been opened this year.
Additionally, the margin trading balance in both markets has once again exceeded 2 trillion yuan. According to Caixin, as of August 11, the Shanghai Stock Exchange's margin balance stood at 1,021.792 billion yuan, an increase of 9.072 billion yuan from the previous trading day, while the Shenzhen Stock Exchange's margin balance was 983.897 billion yuan, up 7.664 billion yuan. The combined total for both markets was 2,005.689 billion yuan, an increase of 16.736 billion yuan from the previous day, marking a return above the 2 trillion yuan threshold for the first time in a decade. Historically, the margin balance only exceeded 2 trillion yuan between May 20, 2015, and July 1, 2015. The current margin balance is still 254.435 billion yuan short of the historical peak of 2,266.635 billion yuan on June 18, 2015.
Donghai Securities pointed out that margin trading scales most directly reflect leverage size and willingness to take on leverage. The current continuous rebound in margin balances reflects investors' recognition of marginal market improvements and their gradually increasing risk appetite under favorable policies, maintaining an optimistic outlook for steady growth in market activity. Coupled with the ongoing disclosure of interim results by listed securities firms and the capital market recovery driving significant earnings growth, the firm expects notable marginal improvements across all business segments of securities companies and recommends paying attention to allocation opportunities during the disclosure window.
Soochow Securities believes that the transformation of the securities industry could bring new growth opportunities. Benefiting from the market recovery and a favorable policy environment, brokerage, investment banking, and capital intermediary businesses are all expected to gain.
(The views expressed by institutions in this article come from licensed securities firms and do not constitute any investment advice, nor do they represent the platform's views. Investors should make independent judgments and decisions.)
