Since December last year, the A-share market has maintained a fluctuating trend, with the margin financing balance first rising and then falling. As of January 7, the market margin financing balance was 1.83 trillion yuan, slightly increasing by 0.557 billion yuan compared to the previous trading day, ending a four-day decline, and decreasing by 13.184 billion yuan compared to the end of November last year. The margin financing transaction volume has declined, with January 3, 6, and 7 all falling below 100 billion yuan, and financing funds maintaining a wait-and-see attitude. Looking at a longer timeframe, the margin financing balance is still at a relatively high level, exceeding 1.8 trillion yuan for 42 consecutive trading days since November 8 last year, while the average margin financing balance from January to October last year was 1.51 trillion yuan. On the last day of 2024, the China Securities Association issued a demonstrative document on margin financing balances, expected to promote the healthy development of margin financing business. By industry, as of January 7, a total of 18 industries have achieved net buying of financing since December last year, with net buying amounts for communications, electronics, and Machinery reaching 3.38 billion yuan, 3.096 billion yuan, and 3.094 billion yuan respectively, and basic chemicals and CSI SWS Food & Beverage index also exceeding 1 billion yuan.