According to Jinshi Data on August 22, the banking sector of the A-share market has become the focus of market attention. As of midday, the share prices of many banks hit new highs, showing the market's strong confidence in the banking sector. In addition to the state-owned banks, Bank of Beijing, Bank of Shanghai, Bank of Jiangsu and others also followed suit.
Industry analysts pointed out that the collective strength of bank stocks is the result of multiple factors. First, the recent decline in investment confidence in the capital market has led to funds seeking safe havens, and bank stocks have become the first choice due to their high dividend yields and stability. Against the backdrop of the central bank raising long-term bond yields, the allocation value of the banking sector has increased.
Secondly, the market generally expects the US dollar to cut interest rates, which has strengthened investors' confidence in bank stocks. Before the US dollar cut interest rates, the market was more cautious and funds tended to flow to bank stocks with stable income and higher dividend yields.
