Core Viewpoint - The banking sector in A-shares has shown resilience despite recent fluctuations, with a notable overall increase in performance for the year, indicating strong investor confidence and potential for future growth [3][5]. Group 1: Market Performance - The A-share banking ETF (512800) experienced a slight decline of 0.12% after a significant drop the previous week, but managed to turn positive by the end of the day, with a trading volume of 1.1 billion yuan [1]. - The banking sector has outperformed other industries, with a cumulative increase of 13.1% year-to-date, significantly surpassing the Shanghai Composite Index (2.76%) and the CSI 300 Index (0.03%) by 10.34 and 13.07 percentage points, respectively [3][4]. Group 2: Sector Dynamics - Recent adjustments in the banking sector are attributed to two main factors: the previous strong performance leading to potential overcrowding in trades, and the shifting capital flows towards technology and dividend stocks, causing short-term volatility in bank stocks [4]. - Institutional investors, including insurance and public funds, are expected to continue their long-term allocation towards banks, driven by the sector's relative dividend yield advantage and stable earnings [5]. Group 3: Investment Opportunities - The banking ETF (512800) has seen significant inflows, with a total of 2.358 billion yuan in net inflows over the past five days, reflecting strong market confidence [5]. - The ETF's current fund size has surpassed 12 billion yuan, with an average daily trading volume of 410 million yuan over the past year, making it the largest and most liquid banking ETF in the market [7]. - The ETF tracks the CSI Bank Index, which includes 42 listed banks, with a focus on high-dividend and high-growth banks, providing an efficient investment tool for capturing the overall banking sector's performance [7].

但从单周（6.9~6.13）表现看，银行ETF（512800）稳步向上，并于本周二（6月10日）再度刷新上市以来场内价格新高，其标的指数周内累计上涨0.46%， 已连涨6周！ 作为近两年A股市场"最抗跌"的板块，银行持续上行，走出了傲人的相对收益。今年以来，中证银行指数累计上涨9.8%，较上证指数、沪深300分别超额9.05 和11.6个百分点；若从2022年10月底的近3年低点算起，中证银行指数累计涨幅高达55%，同期上证指数和沪深300涨幅仅15.81%、9.12%。 | 序号 | 证券代码 | 证券简称 | 区间涨跌幅 | 区间涨跌幅 | | | --- | --- | --- | --- | --- | --- | | | | | 区间首日】本年初 ×固尾日 2025-6-13 | [区间首日] 2022-10-31 [区间尾日] 2025-6-13 | | | | | | [自位] % | THAN O | | | | 399986.SZ | 中证银行 | 9.8016 | | 54.9458 | | 2 | 000300.SH | FR300 | -1.7975 | | 9.1167 | | 3 ...

2025年6月12日，沪指突破3400点后横盘整理，银行涨势依旧。A股顶流银行ETF（512800）场内续涨，日线稳步5连阳，逼近本周二刷新的历史新高！全天 成交额4.71亿元，环比放量。 图片来源：Wind 板块个股多数上涨，青岛银行、西安银行涨逾3%，南京银行、江苏银行、苏农银行涨超2%，杭州银行、成都银行等17股涨逾1%。值得一提的是，江苏银行 股价再创新高。 图片来源：Wind 量价双升，银行ETF（512800）基金规模随之水涨船高，截至6月11日，银行ETF（512800）最新规模为88.61亿元，年内日均成交额为4.59亿元，为10只A股 银行ETF中规模最大、流动性最佳！ 对于银行稳步走强的原因：一方面源于板块的高股息属性，截至6月11日，银行ETF（512800）跟踪的中证银行指数股息率为5.6%，相对以10 年期国债收益 率衡量的无风险利率的溢价水平仍处于历史高位，且分红稳定性强。 另一方面，宏观政策持续发力，银行基本面积极因素累积。成长性优异及受益于政策实效的区域行盈利弹性有望释放。 此外，银行板块长期处于估值洼地，目前板块静态PB 仅为0.67 倍，对应隐含不良率超过15%，安全边际充 ...