Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-23 00:14Core Viewpoint - The A-share market experienced significant corrections during the week of November 17 to 21, with a notable retreat in previously strong technology stocks and increased risk aversion among investors. Bank stocks, particularly China Bank, saw active trading and reached new historical highs multiple times during the week [1][4]. Market Performance - A total of 46 stocks reached historical highs this week, a decrease from 83 the previous week. Year-to-date, 1003 stocks have achieved historical highs as of November 21 [1]. - Among the 46 stocks, the power equipment, basic chemicals, and machinery sectors had six stocks each reaching new highs, while the electronics sector saw a significant drop to three stocks [1]. - The main board had 31 stocks reaching new highs, while the Sci-Tech Innovation Board had six, the Growth Enterprise Market had five, and the Beijing Stock Exchange had four [1]. Trading Activity - The overall trading activity of strong stocks decreased. The top five stocks by trading volume were China Minmetals Resources, China Bank, Industrial and Commercial Bank of China, Foshan Plastics Technology, and Dazhong Mining, with trading volumes of 15.795 billion, 15.195 billion, 12.66 billion, 12.18 billion, and 12.13 billion respectively [1][6]. Bank Sector Insights - The recent performance of bank stocks is driven by several core factors, including policy support from the central bank aimed at stabilizing net interest margins and enhancing the effectiveness of monetary policy [4]. - The current price-to-book (PB) ratio for A-share banks is 0.73, while Hong Kong's state-owned banks have a PB ratio of approximately 0.55, indicating that valuations remain significantly low compared to international peers [4]. - The banking sector's dividend yield is notably higher than the risk-free rate, creating an attractive investment logic in the current low-interest-rate environment [4]. Investment Recommendations - Investment strategies suggested by analysts include focusing on regional banks with strong certainty and high dividend yields, particularly large banks and joint-stock banks [5]. - The stocks that reached new highs most frequently over the past 30 trading days include Electric Power Investment Energy (14 times), Hanlan Environment (13 times), and Zhiyang Innovation (12 times) [5]. Stock Price Movements - The stocks with the highest price increases this week included Zhenai Meijia (up 38.96%), Tengjing Technology (up 34.50%), and Huaci Co., Ltd. (up 31.69%) [8]. - Among the 46 stocks, two stocks had prices exceeding 100 yuan, with Tengjing Technology at 152 yuan and Tianpu Co., Ltd. at 108.61 yuan [8].