Liu Chengxiang, an analyst at Kaiyuan Securities: There are three main factors driving the current bank stock market trend.

On August 11th, Liu Chengxiang, chief analyst of Open Source Securities Banking, was a guest at Securities Times Times Salon. He believes that the core factors driving the current bank stock market are mainly three points: the first and most important logic is that in the low interest rate phase, investors who prefer stable income will push for a revaluation of stable dividend assets; the second point is that before this round of market, the banking sector was in a long-term undervalued state, and this round of market actually has a repair logic; the third point is the change in market style and the funding drive represented by insurance capital. In the past few years, the proportion of public funds allocating to the banking sector has not been high. With the policy guidance of long-term funds entering the market and the optimization of long-term investment assessment dimensions, long-term funds represented by insurance capital are more willing to allocate to bank stocks.