Guojin Securities: Northbound capital flows back in, margin trading activity rises to near three-week high.

Guojin Securities' research report stated that the activity of northbound funds has rebounded, and based on calculations, overall net buying of A-shares by northbound funds has resumed. Structurally, northbound funds may mainly be net buyers of sectors such as computers, food and beverage, and non-ferrous metals, while net sellers of sectors such as machinery. Margin trading activity continues to rise slightly to a near three-week high. In terms of industries, margin trading is mainly net buyers of electronic information, communications, and machinery sectors, while net sellers of food and beverage, petroleum and petrochemical, and coal sectors. The consensus on buying between ETFs and northbound funds continues to decline, while the consensus on buying between margin trading and the leader board has slightly increased. This means that various participants are returning to the market to varying degrees, but overall divergence is increasing. The focus in the future will be on whether the market's buying consensus can gradually recover.