Shanghai Stock Exchange data showed that 1.9119 million new A-share accounts were opened in September, including 1.8997 million by individual investors and 12,200 by institutions. It was the first month this year in which new individual account openings fell below 2 million, while institutional openings stayed above 10,000 and were higher than the levels seen in January, February, April, and May.
The monthly pattern this year moved from a strong start to a pullback, then another spike, followed by softer and more stable readings before cooling again. New openings peaked at 4.9158 million in January, dropped to 2.523 million in February, rebounded to 4.6014 million in March, and then fluctuated around 2.6 million from April through August before slipping to a yearly low in September.
Even with the September decline, total new A-share account openings for the first three quarters reached 27.1259 million, almost matching the full-year 2025 total of 27.4369 million. According to Securities China, the September slowdown may be related to a temporary weakening in the A-share market’s profit effect.
Shanghai Stock Exchange data showed that 1.9119 million new A-share accounts were opened in September. Of that total, individual investors accounted for 1.8997 million and institutions for 12,200.
On a monthly basis, new openings by individual investors fell below 2 million for the first time this year. Institutional openings stayed above 10,000 and were higher than the figures recorded in January, February, April, and May.
This year’s opening trend moved from an early surge to a September low
Monthly data showed a pattern of a strong start, a pullback, another push higher, then a retreat, a period of relative stability, and later cooling. January marked the yearly peak at 4.9158 million during a market high point. February then saw a seasonal drop to 2.523 million, before March rebounded to 4.6014 million.
From April to August, new account openings largely fluctuated around 2.6 million, coming in at 2.4913 million, 2.7653 million, 2.8646 million, 2.6554 million, and 2.3973 million, respectively. In September, the figure fell to 1.9119 million, the lowest monthly reading of the year and the first time in 2026 that it came in below 2 million.
First-three-quarter total nearly matched the full-year 2025 figure
Despite September marking the lowest monthly level of the year, total new A-share account openings in the first three quarters reached 27.1259 million, almost matching the full-year 2025 total of 27.4369 million.
According to Securities China, the September drop in new A-share account openings may be tied to a temporary weakening in the market’s wealth effect.
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