China Market Margin Balance Falls to RMB2.60 Trillion, Down for Fourth Straight Day

On September 14, 2026, the market's total margin financing balance stood at RMB2.60 trillion, a decrease of RMB4.939 billion from the previous trading day and a fourth consecutive daily decline. By market, the Shanghai margin balance was RMB1,328.372 billion, down RMB2.693 billion from the previous trading day; the Shenzhen margin balance was RMB1,260.965 billion, down RMB2.282 billion; and the Beijing Stock Exchange margin balance was RMB8.319 billion, up RMB36.3015 million. On the same day, the market margin balance was RMB2,597.656 billion, equal to 2.65% of the free-float market capitalization of A-shares.

Luxshare Precision recorded the largest net margin buying, at RMB302 million for the day. Huanghe Whirlwind and Topsec followed with net buying of RMB181 million and RMB172 million, respectively. Yuneng Holding, Defu Technology, and Kexiang shares were also among the leaders in net buying. Among stocks with net margin buying exceeding RMB50 million, 14 were in electronics, four in power equipment, and three in nonferrous metals; 23 were on the main board, seven on ChiNext, and four on the STAR Market. The arithmetic average of these stocks' latest margin balance as a proportion of free-float market capitalization was 3.83%. Among them, C Suiyuan-U had a margin balance of RMB812 million, or 10.70% of free-float market capitalization; Topsec, Kexiang shares, and Sungrow Power Supply stood at 8.80%, 8.21%, and 5.94%, respectively.

Among margin-eligible stocks, 90 had a margin balance exceeding 10% of free-float market capitalization, 1,180 had ratios between 5% and 10%, 2,314 had ratios between 1% and 5%, and 283 had ratios of no more than 1%. Xinkai Technology had the highest margin balance as a proportion of free-float market capitalization, at RMB145 million, or 18.14%. Hopewind Electric and Liju Thermal Energy stood at 15.98% and 15.81%, respectively. Stocks with margin ratios above 10% had an average free-float market capitalization of RMB6.472 billion, while the top ten by margin ratio had an average free-float market capitalization of RMB4.226 billion. Xinkai Technology's latest free-float market capitalization was RMB801 million. Under trading rules, when a single stock's margin monitoring indicator reaches 25%, the exchange may suspend margin buying in that stock on the next trading day and announce the move to the market.

Among stocks whose margin balance exceeded 10% of free-float market capitalization, 34 had a dynamic price-to-earnings ratio above 50 times, seven had ratios between 30 and 50 times, and 19 had ratios below 30 times. Dongfang Precision had a dynamic price-to-earnings ratio of 2.20 times, while Gaoneng Environment and Feinan Resources each had a ratio below 20 times. By board, 35 of these stocks were on ChiNext, 21 on the STAR Market, and 34 on the main board. By industry, 14 were in electronics and 14 in machinery and equipment.