As of Sept 28, Shanghai margin financing stood at 1.318769 tln yuan, down 13.073 bln yuan from the prior trading day; Shenzhen stood at 1.25475 tln yuan, down 12.918 bln yuan. Combined balance was 2.573519 tln yuan, down 25.991 bln yuan.

Commerzbank analyst Thu Lan Nguyen warns that an unusually low FX volatility regime, combined with markets pricing in aggressive future rate hikes, increases the risk of sharp FX repricing if central bank tightening proves weaker than expected. Nguyen says current low FX vol partly reflects clearer assessments of the Iran conflict’s economic impact, but also indicates markets have priced in few policy surprises, leaving currencies vulnerable to abrupt moves if economic or policy paths diverge from consensus.

新股N安達漲345%，觸發二次臨停，成交額超2億元。