险资举牌银行股，驱动估值修复

Group 1 - The recent surge in bank stocks, such as Agricultural Bank and Shanghai Pudong Development Bank, has raised questions about the sudden attractiveness of these stocks after years of being undervalued [1][3] - Regulatory changes, particularly the new accounting standards for insurance, have significantly increased institutional investment in bank stocks, with a reported increase of 12.6 billion in holdings [3] - The market's perception of bank stock valuations has shifted, with the new accounting rules allowing for previously unrecognized losses to be reported as profits, thus redefining the concept of "undervalued" [3][11] Group 2 - Institutional investor behavior has shown a consistent accumulation of bank stocks since 2022, despite stagnant stock prices, indicating a strategic long-term investment approach [6][10] - In contrast, the white wine sector has seen a withdrawal of institutional funds, highlighting the volatility and differing investment strategies between sectors [10] - The current banking stock rally is attributed to changes in market rules, emphasizing the need for investors to adapt their valuation models to align with evolving market conditions [11]