金融ETF（510230）涨超2.5%，银行行业聚焦主业或促净息差企稳

Core Viewpoint - The banking industry is focusing on its core business, aiming to restore internal capital capabilities while managing loan pricing and volume, leading to a gradual shift away from scale demands [1] Group 1: Banking Sector Dynamics - Banks are expected to optimize credit structures and expand stable funding sources, with key support areas including "Five Major Articles," "Two New and Two Heavy," and the newly added "Stabilizing Foreign Trade" direction [1] - The necessity for interest rate cuts is currently low, with net interest margins expected to stabilize around 1.4% in the second half of the year [1] - Financial risks in key areas are being systematically resolved, indicating a controlled risk environment [1] Group 2: Capital and Liquidity - Large banks are anticipated to act as stabilizers in the bond market, while smaller banks may struggle with capital pressures, leading to weaker investment capabilities [1] - Regulatory bodies may promote capital replenishment plans for joint-stock banks and smaller regional banks, supporting the interest rate environment for bank capital bond issuance [1] - The trend of deposit migration is intensifying competition for core liabilities, with a potential for reserve requirement ratio cuts in Q4 [1] Group 3: Financial ETF Overview - The Financial ETF (510230) tracks the 180 Financial Index (000018), which selects listed companies involved in banking, insurance, and securities to reflect the overall performance of major enterprises in the Chinese financial market [1] - The 180 Financial Index covers multiple sub-industries within the financial sector, showcasing high market representativeness and industry characteristics [1]