China A-Share Margin Trading Balances Hit Record 3 Trillion Yuan on June 23

According to Financial Liaison, A-share margin trading (both securities lending and borrowing) balances reached 3.0009 trillion yuan on June 23, surpassing the 3 trillion yuan mark for the first time. The data shows margin balances accounted for 2.83% of A-share circulating market value and 10.25% of total trading volume, both below historical peaks but at elevated levels since the "924 market" of 2024.

Margin funding continued concentrating in technology hardware and semiconductors, with combined net purchases reaching 836 billion yuan in June alone, representing 95% of total margin net inflows. Top individual stocks included Zhongji Xuanchuang (110.2 billion yuan in net margin purchases) and Xinyi Sheng (51.64 billion yuan), indicating leveraged capital remained focused on high-elasticity tech sectors despite stricter regulatory oversight following the January increase in margin deposit requirements to 100%.