Two types of funds show divergence, and structural trends in the A-share market continue.

Jin10 data reported on September 9, on September 8, the A-share market showed a mixed performance, with the Shanghai Composite Index and the Shenzhen Component Index both rising, while the ChiNext index fell nearly 1%. In terms of capital, active funds showed divergence. As of September 5, the margin balance of A-shares was reported at 22,870.55 billion yuan, and the financing balance was reported at 22,713.07 billion yuan; last week, the financing balance of the A-share market increased by 25.835 billion yuan, while the stock-type ETF saw a net outflow of over 1 billion yuan last week. Analysts believe that the core driving force supporting this round of A-share upward movement has not fundamentally changed. The short-term market adjustment is nearing its end, and A-shares are likely to continue the trend of fluctuating upward, but attention should be paid to short-term fluctuation risks, with a focus on observing the marginal changes in market volume.