A haven in a volatile market, a 10 billion bank ETF (512800) rose against the market, attracting 760 million yuan in gold in the past three days

On October 13, the overall adjustment of A-shares continued, and the banking sector showed resilience. As of press time,Pudong Development Bank rose more than 5%,Bank of Nanjing andYunong Commercial Bank rose more than 2%, andBank of Chengdu,Bank of Chongqing, andBank of Shanghai rose more than 1%.
The ETF (512800) of the top banks of 10 billion surged high in early trading, and then exerted strength after a brief fall. The on-site price is now up 0.26%, against the market for three consecutive years. The real-time turnover in less than half a day has reached nearly 900 million yuan, and trading is active.
Recently, market volatility has intensified, and the banking sector has regained the favor of funds. Data from the Shanghai Stock Exchange showed that bank ETF (512800) has attracted gold for three consecutive days, with a total net inflow of 763 million yuan.
Guosen Securitiespointed out that from a global perspective, the valuation of my country's banks is significantly underestimated compared with the current ROE, reflecting the market's pessimistic expectations of the economy. However, in the medium and long term, China's economy is highly resilient, innovation and industrial upgrading have become new support points, urbanization, consumption potential and regional development. Unbalanced development brings structural opportunities, and bank valuations have greater room for repair.
Huatai Securitiessaid that due to the switch in capital preferences, banks 'maximum retracement since mid-July is about 15%. As the market's rising slope slows down and combined with the disturbance of the economic data base, there may be safe-haven demand for funds in the fourth quarter. Coupled with the year-end calendar effect, banks The short-term winning rate is expected to improve. In the medium term, the policy level attaches great importance to stabilizing interest margins and preventing tail risks. The profitability of banks 'core business is expected to continue to improve, concerns about asset quality will be alleviated, and dividend sustainability will enhance the attractiveness of long-term funds.
CITIC Securitiespointed out that after the correction, the arithmetic average static dividend yield of A-share listed banks rebounded to 4.3%, and the arithmetic average static PB level fell back to 0.61x, implying higher equity return space. Whether it is based on the continuation of the sector based on slow cattle or the lack of allocation of long-term funds, the absolute return space of bank stocks is beginning to appear, and investors are advised to actively allocate it.
Follow the trend and have both offense and defense!Bank ETF (512800) and its connected funds (Class A: 240019; Class C: 006697) passively trackthe China Securities Bank Index. The constituent stocks include 42 listed banks in A-shares. They are efficient investment tools for tracking the overall market situation of the banking sector.
The bank ETF (512800) fund has steadily settled in the tens of billions camp, with an average daily turnover of over 600 million yuan during the year. It is the largest and most liquid among the 10 A-share bank ETFs.
Risk warning: Bank ETFs passively track the China Securities Bank Index. The base date of the index is 2004.12.31 and released on 2013.7.15. The rise and fall of the China Securities Bank Index in the past five full years are: 2024, 34.71%;2023,-7.27%; 2022,-8.78%; 2021,-4.41%; 2020,-4.23%. The composition of the index's constituent stocks is adjusted in a timely manner in accordance with the index compilation rules, and past performance does not predict future performance. The constituent stocks of the index in this article are for display only. The descriptions of individual stocks are not used as any form of investment advice, nor do they represent the position information and trading trends of any funds under the manager. The fund's risk level assessed by the fund manager is R3-medium risk, which is suitable for investors of balanced type (C3) and above. Any information appearing in this document (including but not limited to individual stocks, reviews, forecasts, charts, indicators, theories, any form of expression, etc.) is for reference only, and investors are responsible for any independent investment behavior.In addition, any opinions, analysis and predictions contained in this article do not constitute any form of investment advice to readers, nor do they assume any responsibility for direct or indirect losses caused by the use of the content of this article. Fund investment is risky. The past performance of the fund does not represent its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee for the fund's performance. Fund investment must be cautious.