银行板块领涨，估值处于历史低位，政策面持续释放积极信号

Group 1 - The central bank has recently conducted large-scale reverse repurchase operations, including a 14-day reverse repo initiated in mid-September and a 600 billion yuan six-month buyout reverse repo, resulting in a net injection of over 1.1 trillion yuan in a single week [1] - These operations are aimed at proactively addressing seasonal funding needs ahead of quarter-end and holidays, reflecting a monetary policy direction of "precise drip irrigation" and "moderate easing" [1] - The Ministry of Commerce and nine other departments have jointly issued policies to expand service consumption, which will enhance retail credit growth potential through financial support and broader financing channels [1] Group 2 - The banking sector has experienced over a 10% correction since the July peak, with the CSI Bank ETF (515020) declining by 12.29% since July 10, and the current price-to-book ratio at only 0.67, indicating a low valuation compared to 64.38% of the past decade [2] - The combination of low valuations and favorable policies has attracted capital, as evidenced by a net inflow of nearly 30 million yuan into the bank ETF fund (515020) yesterday [2]