Abstract: We analyzed A-share margin trading positions for stocks with market cap of at least USD 500m as of September 4th, with aggregated net margin trading position at USD353,626m. The net margin trading position decreased by 0.5% last week, outperforming the CSI 300 index which fell 1.3%. Among 2,981 stocks covered, 1,683 saw margin loan positions increase while 1,298 saw positions decrease. The largest declines in net margin position were led by Ping An Insurance (601318 CH, down USD282m), Cambricon (688256 CH, down USD174m), and China Minsheng Banking (600016 CH, down USD76m, also the sharpest ADT multiple contraction at -0.82x). On the buy side, Montage (688008 CH) added USD331m and CATL (300750 CH) added USD313m in net margin loans. By ADT multiple, Guangzhou Automobile (601238 CH) holds the highest ratio at 24x, while Haohua Chemical Science & Technology (600378 CH) posted the largest ADT multiple increase among highlighted names at +0.73x.
HAOHUA CHEMICAL SCIENCE & TECHNOLOGY, BANK OF BEIJING, INDUSTRIAL BANK, CHINA MINSHENG BANKING, PING AN INSURANCE
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