智通财经7月9日电，土耳其主要股指BIST-100指数上涨1.5%，主要银行指数上涨1.6%。 ...

土耳其主要股指BIST 100指数下跌1.4%，银行指数下跌1%。 ...

德国DAX 30指数初步收跌0.48%，报23819.95点，本周累计下跌大约0.9%。 法国股指初步收跌0.65%，意大利股指初步收跌0.69%、银行指数跌0.91%，英国股指初步大致收平。 ...

德国DAX 30指数初步收涨0.44%，报23894.97点。 法国股指初步收涨0.14%，意大利股指初步收涨0.25%、银行指数涨0.34%，英国股指初步收涨0.48%。 ...

Core Viewpoint - The article discusses the long-term performance of the banking index, the factors driving its growth, and the current valuation, suggesting potential strategies for profit-taking. Group 1: Banking Index Performance - The representative index for the banking industry is the China Securities Banking Index, which has shown significant growth in recent years, particularly from 2019 to 2021, driven by a strong growth style. In contrast, from 2022 to 2024, value styles, including banking and dividend stocks, have gained strength, leading to new highs in index points [5][15]. - The annualized return of the China Securities Banking Index from July 15, 2013, to June 25, 2025, is 6.7%, which increases to 11.31% when considering dividends [15]. Group 2: Banking Industry Characteristics - The banking industry is characterized by strong cyclicality, with performance heavily influenced by macroeconomic conditions. During economic downturns, banks face increased risk provisions and reduced interest income, while the opposite occurs during economic upturns [7][11][12]. - The banking business model can be simplified to "two incomes and two expenses," which includes interest income, non-interest income, interest expenses, and risk provisions [8][10]. Group 3: Sources of Returns for Banking Index Funds - The three main sources of returns for banking index funds are: 1. **Valuation Improvement**: The price-to-book ratio (P/B) of the China Securities Banking Index increased from 0.87 on May 6, 2019, to 1.14 on June 26, 2025, contributing to returns [23][24]. 2. **Net Asset Growth**: The net assets of banks have been increasing annually since 2014, which is a key driver of the long-term rise in the banking index [27][28]. 3. **Increased Dividends**: The dividend yield for banking stocks has improved significantly due to policies encouraging higher dividend payouts, with total cash dividends reaching approximately 2.4 trillion in 2024 [30][32][35]. Group 4: Profit-Taking Strategies - Two common profit-taking strategies for banking index funds include: 1. **Profit-Taking Based on Yield**: Consider taking profits when the yield reaches 30% [37]. 2. **Profit-Taking Based on Overvaluation**: Monitor valuations and consider selling when the index is deemed overvalued [40][51]. - The article emphasizes the effectiveness of a strategy involving buying undervalued assets, holding during normal valuations, and selling when overvalued, which has been validated through past market cycles [47][51].

德国DAX 30指数初步收涨0.36%，报23758.74点。 法国股指初步收涨1.03%，意大利股指初步收涨0.38%、银行指数涨0.75%，英国股指初步收跌0.10%。 ...

费城银行指数上涨0.9%，创2022年以来盘中新高。 ...

法国股指初步收跌0.09%，意大利股指初步收跌0.60%、银行指数跌1.48%，英国股指初步收涨0.24%。 德国DAX 30指数初步收跌0.83%，报23712.06点。 ...

法国股指初步收跌0.23%，意大利股指初步收涨0.03%、银行指数涨0.17%，英国股指初步收跌0.37%。 德国DAX 30指数初步收跌0.54%，报23902.75点，6月份累计下跌大约0.1%。 ...

%、本周累涨约0.8%；英国股指初步收涨0.60%，本周累涨约0.1%。 德国DAX 30指数初步收涨1.52%，报24008.85点，本周累计上涨大约2.8%。 法国股指初步收涨1.69%，本周累涨大约1.2%；意大利股指初步收涨0.77%、本周累涨约1.1%，银行指 数 ...