Zhong Guo Zheng Quan Bao·2025-11-14 05:59Core Viewpoint - The A-share banking sector has seen a collective rise, with major banks like ICBC, ABC, BOC, CCB, and Bank of Communications all increasing by over 1%, indicating a recovery from the previous quarter's downturn [1] Group 1: Market Performance - Since the beginning of Q4, the banking sector has shown strong performance, reversing the decline observed in Q3 [1] - Major banks, including ICBC and ABC, reached new highs during intraday trading [1] Group 2: Investment Sentiment - Analysts attribute the banking sector's rebound to its defensive attributes of low valuation and high dividends, which have regained recognition amid year-end risk aversion [1] - Institutions are generally optimistic about the banking sector's investment prospects, believing that the combination of funds, policies, and fundamentals will support the high dividend theme in the market [1] Group 3: Future Outlook - CITIC Securities forecasts a continued weak recovery in the macro economy through 2025, suggesting that while the banking sector's fundamentals may not significantly improve, the high dividend strategy will remain a key focus [1] - Long-term funds such as insurance capital, public funds, and state-owned enterprises are expected to increase their allocation to bank stocks due to their stable dividends and low valuation characteristics [1] - Huatai Securities notes that the shift in financial support towards emerging fields like technology finance, green finance, and pension finance is accelerating the optimization and upgrading of bank business structures, which will open up long-term growth opportunities and support valuation recovery [1]