New Investors Enter A-Share Market Today
A-share market welcomes incremental funds!
According to the arrangements of China Securities Depository and Clearing Corporation (CSDC), new securities accounts applied for between October 1st (Tuesday) and October 8th (Tuesday) will be available for trading starting from October 9th (Wednesday).
Furthermore, on the evening of October 8th, some securities firms notified their clients that the bank-securities transfer time on October 9th would continue to be advanced. For instance, Orient Wealth stated that it would support bank-securities transfers starting as early as 7:05 am.
How many new accounts were opened during the National Day holiday? Reporters from Securities Times surveyed several securities firms and received consistent information that the number of account applications and inquiries surged during the holiday compared to ordinary days, and inquiries about account recovery and password retrieval also increased rapidly.
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Moreover, contrary to the past "stereotype" that A-share investors were predominantly "middle-aged and elderly," many securities firms told reporters that the main force behind this wave of account openings were those born in the 1980s and 1990s, with even a significant number of individuals born in the 2000s.
New accounts opened during the National Day holiday can be used for trading starting today
According to the arrangements of CSDC, new securities accounts applied for between October 1st (Tuesday) and October 8th (Tuesday) will be available for trading starting from October 9th (Wednesday).
It is reported that, according to previous work arrangements, CSDC officially resumed the opening of the unified account platform and identity information verification system channels on October 7th, including providing identity verification photo return functions and supporting online account opening reviews. To continuously meet the demand for account opening, the identity information verification system feedback was specially extended by 3 hours compared to usual, while others closed according to normal times.
It is worth mentioning that on October 6th, CSDC had already opened the unified account platform and review system early, and to facilitate the demand for investor account opening, the opening time on that day was temporarily extended to the evening. Industry insiders analyzed that the backlog of account opening demand accumulated before and during the holiday has been somewhat alleviated through the overtime work of regulators and securities firms.
Securities Times reporters also verified from wealth management professionals at securities firms that new accounts opened during the National Day holiday can be traded starting from the 9th, "most can be reviewed, and if there are a few accounts that have not been reviewed, it is an exceptional case."Some securities firms continue to advance the bank-broker transfer time on October 9th
It is worth mentioning that on the evening of October 8th, some securities firms notified their clients that the bank-broker transfer time would continue to be advanced on October 9th.
For instance, Dongfang Fortune Securities announced that the bank-broker transfer time would continue to be advanced on October 9th. According to the notice, the earliest batch of banks began to support bank-broker transfers (excluding credit) at 7:05 AM, including Industrial and Commercial Bank of China, Bank of China, Bank of Communications, China Merchants Bank, Bank of Beijing, China Minsheng Bank, CITIC Bank, Ping An Bank, etc. (Bank of Communications and Ping An Bank can support 7*24 hours after enabling permissions).
Previously, on the evening of October 7th, several securities firms issued notifications to their clients showing that on October 8th, to meet investors' demand for transfers before the market opens tomorrow, many banks advanced the time for third-party transfers, with the earliest being around 6:50 AM, more than an hour earlier than usual.
How much additional volume is there?
How much additional volume is on the way? A reporter from Securities China conducted research on some securities firms and received feedback that the number of account opening applications during the holiday indeed surged compared to usual days, and people born in the 1980s and 1990s are the main force of this round of account openings.
"After the press conference held by the State Council Information Office on September 24th, investor participation enthusiasm increased significantly, and the number of appointment-based account openings grew noticeably, with the number of daily appointment-based account openings continuing to increase. During the holiday, investors' willingness to enter the market remained high, and from the data of appointment-based account openings, we saw an increase of about 150% compared to the average number of the past month. In terms of customer age structure, we saw that customers in the 1980s and 1990s age group were the majority, and there were even some customers born in the 2000s." A person in charge of Guojin Securities told the reporter from Securities China.
Huaxin Securities told the reporter from Securities China that the number of account opening applications during the holiday increased 25 times compared to the same period last year, and there were a large number of new investors who opened securities accounts for the first time.
A person related to the brokerage business of Xiangcai Securities introduced that on October 1st, customers logged in to the online business hall more than 330,000 times, with an activity level more than 5 times that of ordinary days, and more than 40,000 users visited the "Investment Consultant Community" and "Xiangju Wealth" sections respectively.
A person related to a leading securities firm in South China also revealed that the online account opening of the securities firm during the holiday increased by tens of times. For example, on September 30th, the number of account openings reached 40,000, among which online account openings were 30,000, which is 50 times the usual online account openings, and the 30,000 online account openings achieved 3 times the offline account openings.A person in charge of Minsheng Securities told the Securities China reporter, "During the National Day holiday, investors' enthusiasm for opening accounts has surged, and Minsheng Securities has also experienced a boom in account openings. The average daily number of account opening applications has increased by four times compared to usual, and the number of customer inquiries has doubled. There are no shortage of long-silent customers calling to inquire about their account numbers and reset passwords, and the volume of related business inquiries has increased by more than three times."
According to the aforementioned person, "Post-90s and post-00s have become the main force in this market's account openings. According to the company's internal statistics, the proportion of post-90s and post-00s among recently opened customers has exceeded half. They are running into the market and evolving into an emerging force in the asset market, gradually becoming an indispensable part of the market. Faced with the surge in business volume during the long holiday, all staff of Minsheng Securities' customer service center have given up their 'Golden Week' vacation and are working hard on their posts, fully preparing for the battle."
GF Securities said that the company's average daily number of account openings has increased by more than five times compared to the average daily number of account openings at the beginning of September last year, and has increased by more than ten times compared to the same period last year. Online users' response to market trends and policies is more rapid because the scope and speed of online public opinion dissemination are much faster than offline, especially with the rise of social media and new media in recent years, which has further accelerated this trend.
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