Shanghai-Shenzhen Margin Financing Balance Falls 2.05B Yuan to 2.57T

The divergence matters more than the headline drop: Shanghai leverage rose while Shenzhen shed a larger amount, so the aggregate decline reflects a shift in positioning rather than uniform deleveraging. That split suggests traders were rotating exposure between the two venues instead of broadly retreating. Whether Shenzhen's decline continues while Shanghai holds its gain is the open question for reading broader risk appetite.