资金为何连续19日买入这一“稀缺”方向

Group 1 - The Hong Kong non-bank financial ETF (513750) has seen significant capital inflow, with a net inflow for 19 consecutive trading days, reaching a scale of over 2.7 billion yuan and a share count of 1.932 billion, both hitting new highs since its inception in 2023 [1] - The ETF's unique "insurance + brokerage" dual-track layout is a key factor for its popularity, with the insurance sector accounting for 65.1% of the index, including major companies like Ping An and AIA [1] - The ETF has achieved a year-to-date increase of 23.16%, reflecting strong market interest [1] Group 2 - The index's price-to-earnings ratio is currently at 8.65, which is in the 21st percentile over the past decade, indicating that the valuation is lower than 79% of historical periods [2] - The combination of a 3.14% dividend yield with low valuation creates a rare "undervalued + high dividend" opportunity [2] - The insurance sector is expected to undergo a value reassessment due to declining liability costs driven by the transformation of dividend insurance, while the brokerage sector is benefiting from ongoing mergers and acquisitions [2] Group 3 - The sustained capital inflow reflects investor recognition of the value in the Hong Kong non-bank financial sector, supported by improving domestic economic conditions and a recovery in global liquidity expectations [2] - The ETF's unique industry structure and scarcity, with over 65% weight in insurance companies, positions it as a quality tool for investing in leading non-bank financial stocks in Hong Kong [2] - As foreign capital increasingly seeks to allocate to Chinese assets, the Hong Kong non-bank financial ETF (513750) is expected to continue attracting market attention [2]