Morning Trend | BANKOFZHENGZHOU faces downward pressure, is the capital's wait-and-see sentiment escalating?

Zhengzhou Bank (6196.HK) has recently shown weak performance, closing yesterday at a new low, reflecting the overall atmosphere of anxiety in the small and medium-sized bank sector. Influenced by widespread discussions on credit risks related to real estate and local government financing vehicles, the overall sentiment in financial stocks is under pressure, with Zhengzhou Bank experiencing a significant lack of capital support, and buying interest is scarce. Although the overall trading volume did not drastically shrink throughout the day, it remained moderate, and the short-term trend further weakened under the dominance of short sellers. From a technical perspective, the MACD shows a clear death cross, with momentum continuing to decline, and the daily K-line has recorded consecutive bearish candles, indicating that the technical rebound momentum has almost failed. Main funds are reallocating around risk aversion, leading to increased market divergence between bulls and bears, with some conservative funds fleeing and defensive accounts dominating, while some local funds are shifting towards low-risk varieties. In the short term, as a focal stock, Zhengzhou Bank is easily influenced by marginal policy dynamics during trading. If there is no easing from the policy side for a prolonged period, the lack of liquidity support could further widen the price fluctuation range, triggering spillover risks at the industry level. Combining technical and market logic, Zhengzhou Bank may need to wait for a complete release of risks and a trading window brought about by emotional recovery. Currently, the focus is on risk prevention, with optimism for capital inflow and incremental signals after sufficient adjustments. Any unusual movements, large orders, and market rumors should be closely monitored to prevent unforeseen events from exacerbating systemic risk exposure