Shanghai and Shenzhen margin financing balances fall 2.14 bln yuan

The modest decline in margin balances is notable mainly for its symmetry: Shanghai and Shenzhen each shed an almost identical amount, suggesting a broad, orderly reduction in leveraged positioning rather than stress concentrated in one market. At these levels, leverage remains a structural feature of both exchanges, so small daily moves matter less than whether the pullback becomes a trend. The open question is whether this trimming reflects routine de-risking or the start of a more sustained retreat from margin exposure.