Two trading days after the Spring Festival, bank stocks rose strongly. The sector index closed up more than 2% for two consecutive days, and the cumulative increase since January has exceeded 6%.
At the same time, the northern capital increased its positions in the banking sector. According to statistics, in January, the net inflow of funds from the north into the banking sector exceeded 18.3 billion yuan, ranking first in the industry; In the two trading days since the opening of the market in the year of the tiger, the net purchase amount of northward funds obtained by the banking sector is also in the forefront of the industry.
Industry analysts believe that the valuation of banking stocks and the proportion of institutional positions are still relatively low at this stage, which is well supported by the superposition of the basic mask of the bank itself, and continue to be optimistic about the banking sector.
since 2022, the banking sector has risen by more than 6% and rush to raise funds in the North
The securities companies and insurance companies returned to the top of the stock index at 3400 in the afternoon, and the collective index turned red at 3400 in the afternoon. Among them, the banking sector continued to close in a large area, and the Bank of Lanzhou closed in the limit. This is also the first trading day of the year of the tiger on February 7, after the banking sector index rose 2.42%, setting a new high in nearly half a year, the banking sector continued to rise strongly.
In fact, the banking sector performed well in January. According to China stock market news, the banking sector index rose nearly 2% against the trend in January, far outperforming the market. Overall, since January, as of the closing on February 8, the banking sector has risen by more than 6%.
At the same time, northbound capital, known as smart capital, increased its positions in bank stocks on a large scale. According to the statistics of Everbright Securities Company Limited(601788) financial team, in terms of capital flow, the trading volume of banking sector in January was 49.892 billion shares, ranking 13 among 30 industry sectors, at the top middle level. Since the beginning of 2022, northbound capital has greatly increased its positions in the banking sector. In January, the market value of the banking sector increased by 20.799 billion yuan, ranking first among all industry sectors, far exceeding that of other industry sectors. Among them, the construction sector increased by 1.897 billion yuan, ranking second; The real estate sector increased by 1.825 billion yuan, ranking third.
According to statistics, BEIXIANG capital bought China Merchants Bank Co.Ltd(600036) 382 million yuan net today, ranking second in net purchases; In addition, the net purchases of Industrial Bank Co.Ltd(601166) and Ping An Bank Co.Ltd(000001) were 324 million yuan and 211 million yuan respectively. On February 7, China Merchants Bank Co.Ltd(600036) net purchase reached 593 million yuan. From the perspective of lengthening the time line, in the past month, among the top ten stocks net purchased by northbound funds, there are two bank stocks. Among them, China Merchants Bank Co.Ltd(600036) received the first net purchase, reaching 8.126 billion yuan; The net purchase amount of Industrial Bank Co.Ltd(601166) ranked fifth, with 1.811 billion yuan.
“The sectors that have performed better recently are basically traditional blue chips such as banking, real estate, infrastructure, oil and so on.” Yang Delong, chief economist of Qianhai open source fund, said that the pursuit of undervalued sector by funds also reflects the decline of market risk appetite, and investors pay more attention to the current performance support.
According to the data, up to now, 19 A-share banks have disclosed the performance express in 2021, and the net profit of 18 parent companies has achieved double-digit growth year-on-year, Bank Of Jiangsu Co.Ltd(600919) with an increase of more than 30%.
more than 80% of bank stocks still break the net in the industry: the repair of sector valuation is expected to continue
As of the closing on February 8, 34 bank stocks were still in a net breaking state, with a net breaking rate of 81%. Bank stocks broke the net in a large area, and many banks triggered the mechanism of stabilizing stock prices. On the first trading day of the year of the tiger on February 7, China Zheshang Bank Co.Ltd(601916) , Chongqing Rural Commercial Bank Co.Ltd(601077) , Bank Of Chongqing Co.Ltd(601963) successively announced that the starting conditions of measures to stabilize the stock price were triggered because the stock price was lower than the net assets per share for 20 consecutive trading days. Under the undervalued value, insiders believe that the time point of bank stock allocation is coming.
The data released by the bank in the recent quarter showed that the proportion of heavily held funds in the bank sector continued to decline. Cao xute, an analyst at Shengang securities, believes that the investment value of bank stocks has appeared. Cao xute analyzed that the low willingness of public funds to allocate the banking sector in the fourth quarter of last year was mainly affected by the market’s downward pressure on the economy and concerns about the quality of bank assets. Since the beginning of the year, the steady growth policy has been continuously strengthened, the policy bottom will be gradually transmitted to the economic bottom, and the downward pressure on the economy has slowed down. It is expected that public funds will pay more attention to the banking sector.
On the other hand, according to the four seasons report released by the bank, the performance of high-quality banks exceeded market expectations. With the rapid growth of assets, the asset quality also improved marginally, and the investment value of bank stocks has appeared.
Everbright Securities Company Limited(601788) Wang Yifeng, chief analyst of the financial industry, believes that the fundamentals of the banking industry are supported, and the “wide credit” is still on the way, so he continues to be optimistic about the banking sector. Wang Yifeng said that under the background of still great downward pressure on the economy and the continuous promotion of various steady growth policies, the market still has expectations for “wide credit”. Superimposed on the basic mask of the bank itself, there is good support. At this stage, the valuation and institutional position ratio are still relatively low, and it is expected to record a good performance after the Spring Festival.
Specific to the investment level, Wang Yifeng suggested to grasp three main lines. First, the rebound main line brought by phased mitigation of real estate risk in the short term. The “package” support policy for stabilizing the real estate market is still in force. Listed banks with obvious impact from the real estate market in the early stage are expected to further rise with the repair of the real estate financing environment. In addition, in the medium term, grasp the main line of sound operation of high-quality regional local banks. In addition, grasp the main line of “head geese” bank with stable credit supply in the beginning of the year.
Cao xute suggested paying attention to banks with outstanding regional advantages, controllable bad assets and excellent four seasons report. Wanlian Securities Research Report believes that the internal differentiation of the banking sector will continue. It is suggested to pay attention to the banks whose proportion of intermediate business income continues to increase and the banks whose fundamentals continue to improve.
