Shanghai-Shenzhen Margin Financing Balance Falls 961M Yuan to 2.44T

The pullback is modest relative to the overall size of the margin book, so this reads more as routine deleveraging than a shift in sentiment. The split matters: the larger absolute decline came from Shanghai, but Shenzhen's drop is proportionally comparable against its smaller base, suggesting the trimming was broad rather than concentrated in one market. Margin balances are a useful proxy for how much leveraged conviction is in the system, and the open question is whether this single-day contraction extends into a sustained trend or reverses within the week.