港股通金融ETF(513190) 冲击3连涨！居民存款转移或是诱因？

Core Viewpoint - The China Securities Hong Kong Stock Connect Financial Index (H11146) has shown a strong upward trend, with significant increases in constituent stocks, indicating a positive outlook for the financial sector in Hong Kong [1] Group 1: Market Performance - As of January 28, 2026, the index rose by 1.98%, with notable increases in stocks such as Shenwan Hongyuan (up 3.57%), Bank of China (up 3.33%), and China Pacific Insurance (up 3.24%) [1] - The Hong Kong Stock Connect Financial ETF (513190) also increased by 1.94%, marking a third consecutive rise [1] Group 2: Future Projections - According to CICC forecasts, 32 trillion yuan in household deposits will mature by 2026, while some banks have seen large time deposit rates drop below 1%, leading to a shift towards dividend insurance products [1] - Analysts suggest that the new insurance premiums will create demand for high-dividend, undervalued quality H-share banks [1] Group 3: Investment Opportunities - The insurance institutions that have benefited from the deposit shift include several companies listed in Hong Kong, which may see improved earnings expectations in Q1 2026 [1] - The Hong Kong Stock Connect Financial Index has a one-year dividend yield of 4.84% and a price-to-book ratio (PB-MRQ) of 0.58, which is below the median of the past ten years, indicating it is a typical low-valuation, high-yield index [1] Group 4: ETF Composition - The Hong Kong Stock Connect Financial ETF (513190) tracks the China Securities Hong Kong Stock Connect Financial Index, with 59% of its constituent stocks being mainland banks listed in Hong Kong, making it the only ETF tracking this index [1]