11月20日，A股市场延续"二八分化"态势。银行、地产等权重板块继续领跑，中国银行、工商银行股价 创出历史新高；以AI主线为代表的科技股则高开低走，固态电池等前期热点题材也表现乏力，拖累三 大股指震荡收跌。 ◎记者 费天元 截至收盘，上证指数报3931.05点，跌0.40%；深证成指报12980.82点，跌0.76%；创业板指报3042.34 点，跌1.12%。沪深两市成交额17081亿元，较前一日缩量177亿元。全市场超3800只个股下跌。 银行股本周持续发力，成为维稳大盘的关键因素。中国银行股价连续第二日创出历史新高，昨日收涨 4%，市值站上2万亿元；工商银行同样创历史新高，收盘涨0.49%，最新市值达29475亿元，逼近3万亿 元关口；建设银行、邮储银行昨日涨超3%。 开源证券2026年度银行行业投资策略报告表示，在交易"高股息、防御性"的同时，也要关注银行增长动 力与长期价值。一方面，银行的业绩稳定性、股息吸引力及分红持续性带来"红利价值"，"反内卷"下净 息差或筑底回升带动扩表提质；另一方面，银行兼具强大的财富管理能力，金融市场投资能力强且调节 能力佳。建议底仓配置大型国有银行，弹性配置具备细分领域 ...

【A股市场银行股涨幅继续扩大中国银行、工商银行均创历史新高】#中国银行工商银行双双创历史新 高# 11月20日，A股市场银行股涨幅继续扩大，其中，中国银行涨超4%，邮储银行、建设银行涨超 3%，民生银行、华夏银行、光大银行、南京银行、交通银行涨超2%，浦发银行、工商银行等涨超1%。 值得注意的是，中国银行、工商银行盘中均创出历史新高，年内分别累涨19%和26%；工商银行市值超 越农业银行，重夺第一宝座。（智通财经） 来源：@中国经营报微博 ...

其二，全球AI风向标英伟达财报超预期。公司2025财年第三季度营收、利润、下一季度的展望均显著 高于市场预期，印证全球算力高景气度。光模块龙头火速响应，光模块CPO含量超54%的创业板人工智 能ETF（159363）高开3%，逆市斩获四连涨。市场首只聚焦港股芯片产业链的港股信息技术ETF （159131）全天放量溢价。 从行情热度来看，A股"银伟大"火出圈！银行板块全天强势，中国银行、工商银行携手再创历史新高， 全市场规模最大的银行ETF（512800）盘中上探1.9%，创10月以来的本轮反弹新高！地产同频共振，全 市场唯一地产ETF（159707）场内放量收涨1.52%。 | | 序号 代码 类型 名称 现价 涨跌幅▼ | 成交额 | | 振幅 | | --- | --- | --- | --- | --- | | 1 1 | 159707 行 地产ETF | 0.669 c 1.52% 5335.43万 | | 3.19% | | 2 | 512800 行 银行ETF | 0.849 c 0.83% | 14.91亿 | 2.38% | | 3 | 159363 | | 7.32亿 | 4.16% | | ...

A股复盘 | 高开必卖 / 2025.11.20 今天很热闹，从哪儿开始骂呢？不是，从哪儿开始说呢？ 昨晚，汇金系券商重组，以为今天要来个大的，而且英伟达财报超预期，结果，又是高开低走虾仁诛心，三千多家待涨！ （好多段字段 不敢放，怕影响大家的正气） 今天除了情绪票，哪个板块有结实的赚钱效应啊？正如群友所评论： 到处点火，又不拉板 整个市场就三类票： 陈小群买的票 陈小群没买的票 银行~ 以为涨到4100点会亏完，没想到是3900点 昨天是冰点，今天是寒冬 日经微涨3%已是强弩之末，大A跌0.4%尽显明日之星 虚假的存钱：把钱存在银行里 真正的存钱：把钱存在银行股里 存储龙头全面大涨 henrylinwhosdadd ... 级别:学徒 威望:1 发帖:661 | 关注 | | --- | | ○ 显示简介 | 最新价 = | 涨跌幅 : | 主力净流入 | | --- | --- | --- | --- | | 中国银行 | 6.31 +5.17% -4605.91 | | | | 5 601988 张幅领先 | | | | | 建设银行 | | 9.96 +4.62% | 25111.61 | | SH ...

| | | 名称 | 现价 5 元 元 | 涨跌幅 | | --- | --- | --- | --- | --- | | | 601988 0 | 中国银行 | 6.24 c 0.24 | 4.00% | | 2 | 601939 | 建设银行 | 9.82 c 0.30 | 3.15% | | 3 | 601658 | 邮储银行 | 5.91 c 0.18 | 3.14% | | 4 | 600016 | 民生银行 | 4.20 c 0.11 | 2.69% | | 5 | 601818 | 光大银行 | 3.67 c 0.07 | 1.94% | | 6 | 002958 | 青农商行 | 3.25 c 0.06 | 1.88% | | | 600015 | 华夏银行 | 7.11 c 0.13 | 1.86% | | 8 | 601916 | 浙商银行 | 3.16 c 0.05 | 1.61% | | G | 601328 | 交通银行 | 7.65 c 0.12 | 1.59% | | 10 | 601009 | XD南京银 | 11.37c 0.17 | 1.52% | 全市场规模最大的银行ET ...

Group 1: Bank Sector Performance - The bank sector is becoming a market focus, with A-share banks showing strong performance, particularly China Bank, which rose 4% to reach a historical high [1] - As of November 20, the total market capitalization of the four major banks in A-shares has exceeded 2 trillion yuan [1] - In the Hong Kong market, Minsheng Bank led gains with over 3% increase, while other banks also saw significant rises [1] Group 2: High Dividend Stocks - There are currently 124 companies in A-shares with a dividend yield exceeding 5%, with 7 companies yielding over 10% [2][3] - The top three companies with the highest dividend yields are Dongfang Yuhong (14.1%), Siwei Liekong (13.25%), and Guanghui Energy (12%) [3][4] - High dividend stocks are not limited to the banking sector but are also found in utilities, energy, and telecommunications, providing a buffer against market volatility [2][3] Group 3: Dividend Distribution Trends - As of November 20, 24 out of 42 A-share listed banks have announced mid-term dividends totaling approximately 263.8 billion yuan, marking an increase from the previous year [1] - Regulatory bodies are encouraging companies to enhance shareholder returns through measures like "cancellation-style buybacks" and multiple annual dividends [5] Group 4: Long-term Dividend Trends - For the 2024 reporting period, the companies with the highest projected dividend yields are Haoxiangni (16.91%), Meiyingsen (15.95%), and Jinshi Technology (14.97%) [6] - In 2023, the top dividend yielders included Libai Co. (15.34%), Rong'an Real Estate (13.06%), and Yutong Bus (11.32%) [7][8] Group 5: Characteristics of High Dividend Companies - High dividend companies are typically found in stable sectors like utilities, energy, telecommunications, and consumer staples, which are less affected by economic cycles [8] - These companies often have clear and stable dividend policies, viewing consistent dividends as a means to maintain credibility and attract long-term investors [8] Group 6: Risks Associated with High Dividend Strategies - High dividend strategies may carry risks, as some companies with high yields may face declining performance or debt issues [10][12] - The phenomenon of "high dividend traps" can occur when a company's stock price falls, artificially inflating the dividend yield without a corresponding increase in earnings [12]

董俊峰表示，作为全球布局的国际卡品牌，银联以支付为纽带，助力跨境经贸往来与人员交流。此次银联与工商银行携手在土耳其推出多币种卡，是银联 国际业务坚实发展、深耕中东本地化市场的重要里程碑，更是双方响应中国高水平对外开放的重要实践。未来，银联将持续发挥全球受理网络覆盖优势与 产品创新能力，为全球居民提供更具包容性的金融支付解决方案。 廖林表示，工商银行始终立足全球布局，以金融科技赋能跨境金融服务升级。此次联合银联推出土耳其首张支持五种货币的个人借记卡，以及在土耳其首 发的银联信用卡，是双方发挥各自优势、深化战略合作的标志性成果。银联卡在土耳其的发行，既响应了提升外籍人士来华支付便利的相关要求，也将推 动跨境金融互联互通迈向更高水平。 此次首发的银联借记卡、信用卡具备多币种账户功能，持卡人可在全球银联受理网络取现与消费；其中借记卡支持人民币、土耳其里拉、英镑、美元、欧 元五个币种结算。两款卡产品的推出，不仅服务本地客户日常金融交易，更凭借银联广泛的全球受理网络与灵活的多币种适配能力，优化持卡人赴华、跨 境支付的便利性。 银联在土耳其展业近二十年，构建了完善的本地化支付服务网络，目前基本实现当地商户与ATM的全面受理 ...

Core Viewpoint - The banking sector is gaining attention in the capital market due to a combination of declining interest rates, policy support, and low valuations, leading to increased investment from long-term funds like insurance capital [1][2]. Group 1: Reasons for Insurance Capital Favoring Bank Stocks - Insurance capital seeks stable and reliable assets due to a mismatch in the average duration of liabilities (over 12 years) and assets (approximately 6 years), resulting in over 2 trillion yuan needing investment annually [1]. - Bank stocks are attractive due to their high dividend yields, low valuations, and low volatility, with an average dividend yield of 3.86%, significantly higher than the 10-year government bond yield of 1.82% as of November 19, 2025 [1][2]. Group 2: Valuation and Stability of the Banking Sector - The banking sector's price-to-book ratio is at 0.63, indicating extreme low valuation and providing a safety cushion [2]. - The banking sector has shown a volatility of only 14.90% over the past three years, which is significantly lower than the 24.80% volatility of the CSI 300 index, making it suitable for long-term holding as a core asset [2]. Group 3: Impact of IFRS 9 on Insurance Companies - The implementation of IFRS 9 accounting standards requires insurance companies to estimate and recognize expected credit losses at the initial recognition of assets, affecting profits even before actual losses occur [2]. - This new standard encourages insurance companies to classify more equity investments as FVOCI (Fair Value Through Other Comprehensive Income), which helps to isolate short-term market fluctuations from profit statements, making bank stocks a suitable choice for long-term holding [2]. Group 4: Preferred Bank Stocks Among Insurance Capital - Insurance capital shows a preference for state-owned banks like Industrial and Commercial Bank of China and China Construction Bank due to their stable dividends and strong liquidity [3]. - Quality joint-stock banks such as China Merchants Bank and Industrial Bank are favored for their robust profitability and potential for valuation recovery [3]. - High-growth regional banks like Chengdu Bank and Suzhou Bank are also attractive due to their high ROE and asset quality, indicating potential for price appreciation [3]. - Hong Kong-listed bank stocks, such as CITIC Bank and Chongqing Bank, are appealing due to higher dividend yields and more attractive valuations [3]. Group 5: Implications for Ordinary Investors - For ordinary investors, bank stocks offer a combination of high dividends and low valuations, providing defensive characteristics and cash flow returns in the current market environment [5]. - As market trends shift towards stable returns, bank stocks can play a crucial role in balancing risk and securing stable dividends within an investment portfolio [5].

| 代码 | 名称 | 主力净流入 (元) | | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 601658 邮储银行 | | | 2.50亿 | 13.46% | -1.57 Z | -8.46% | -9295.72万 | -5.00% | | 601939 建设银行 | | | 2.11亿 | 9.61% | -8738.20万 | -3.98% | -1.24亿 | -5.63% | | 601328 交通银行 | | | 2.00亿 | 9.72% | -5365.32万 | -2.61% | -1.46 Z | -7.11% | | 601398 | 工商银行 | | 1.65 Z | 5.52% | -8098.09万 | -2.71% | -8387.75万 | -2.81% | | 601988 中国银行 | | | -5174.18万 | -1.15% | 6163.96万 | 1.37% | -989.79万 | -0.2 ...

| 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 600016 | 民生银行 | 2.69 | 2.42 | 36550.76 | | 601658 | 邮储银行 | 3.14 | 0.47 | 29674.23 | | 600036 | 招商银行 | 0.02 | 0.28 | 25507.38 | | 601169 | 北京银行 | 1.39 | 1.67 | 19968.29 | | 601939 | 建设银行 | 3.15 | 2.34 | 18823.05 | | 601398 | 工商银行 | 0.49 | 0.13 | 18686.06 | | 601328 | 交通银行 | 1.59 | 1.03 | 17801.63 | | 000001 | 平安银行 | 0.42 | 0.84 | 16209.73 | | 600919 | 江苏银行 | 0.37 | 0.54 | 13992.19 | | 601166 | 兴业银行 | 0.42 | 0.38 | 13412.98 | | 6 ...