The financial sector supports the market against the trend, with bank stocks hitting historical highs in batches

On May 9th, bank stocks were one of the leading sectors. As of around 2:30 PM, the Shenwan Bank Index rose approximately 1.28%. This marks the third consecutive day of increases, continuing to approach historical highs.

China Construction Bank immediately filled the dividend ex-rights on the same day. This indicates a high market recognition of its value, with buying power driving the stock price up. Furthermore, the stock price reached a new historical high.

After setting historical highs on the previous day (May 8th), SPD Bank and Bank of Jiangsu continued to reach new historical highs on the same day. Additionally, Chengdu Bank and others also set historical highs.

As of around 2:30 PM, all types of banks, including large state-owned banks, joint-stock banks, city commercial banks, and rural commercial banks, saw increases.

Since the beginning of the year, the banking sector has continued to show strong performance since last year. From the beginning of the year to now (as of around 2:30 PM), Bank of Qingdao, Chongqing Rural Commercial Bank, and Chongqing Bank have seen significant increases, exceeding 20%. In addition, Qilu Bank, Shanghai Bank, and Industrial Bank have also performed outstandingly.

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