--- title: "The non-bank sector led the gains in the morning session, focusing on the value of high-cost performance non-bank asset allocation" type: "News" locale: "en" url: "https://longbridge.com/en/news/282297408.md" description: "On April 10th, the non-bank financial sector rebounded strongly, becoming the leading line in the market. The Hong Kong Securities ETF E Fund (513090) rose by 5.49%, and the Securities and Insurance ETF E Fund (512070) increased by 2.94%. CITIC SEC rose by 7.62%, with several individual stocks rising over 4%. The non-bank sector has high cost-effectiveness, with valuations at historical lows and pessimistic expectations fully priced in. As market risk appetite recovers, the non-bank financial sector is expected to experience a resonance of valuation and performance, making the rebound elasticity worth paying attention to" datetime: "2026-04-10T06:09:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282297408.md) - [en](https://longbridge.com/en/news/282297408.md) - [zh-HK](https://longbridge.com/zh-HK/news/282297408.md) --- # The non-bank sector led the gains in the morning session, focusing on the value of high-cost performance non-bank asset allocation On April 10th, the non-bank financial sector experienced a strong rebound, becoming the leading line in the market. As of 9:45 AM on April 10th, the **E Fund CSI Hongkong Bond Investment Theme ETF (513090)** rose by 5.49%, ranking first in the entire market for ETF gains; by 1:45 PM, the **E Fund CSI 300 Financials (ex Banks) ETF (512070)** increased by 2.94%, with **CITIC SEC (600030.SH)** leading the sector with a rise of 7.62%. **Eastmoney (300059.SZ)**, **Huatai Securities (601688.SH)**, **Guotai Junan (601211.SH)**, **GF Securities (000776.SZ)**, and **Guoxin Securities (002736.SZ)** all rose over 4%, while **Industrial Securities (601377.SH)** and **CITIC Jianan (601066.SH)** also followed suit, indicating sufficient overall rebound momentum in the sector. Currently, the non-bank sector possesses core advantages such as significant prior declines, high upward elasticity, and cost-effective allocation. From a valuation perspective, the sector is at historical lows, with pessimistic expectations fully priced in, making it a highly cost-effective direction in the market. Among them, the A-share brokerage sector's PB and PE are at the 10% and 4% percentiles respectively over the past decade, indicating valuations at historical lows; several Hong Kong-listed brokerages have a consensus expected dividend yield close to or exceeding 5% for 2025, with limited downside potential for stock prices, and insurance stocks are also at low valuations. Additionally, the non-bank sector has ample potential upward momentum, with multiple positive factors worth anticipating. As the conflict between the U.S. and Iran eases and market risk appetite continues to recover, if the index rises subsequently, brokerage innovative businesses are implemented, and pessimistic expectations on insurance capital investments gradually recover, the non-bank financial sector is expected to welcome a resonance of valuation and performance, making the rebound elasticity worth paying attention to. Related products to watch include the **E Fund CSI 300 Financials (ex Banks) ETF (512070)**, which is the largest securities insurance ETF in the A-share market, with the latest scale reaching 15.2 billion yuan. It is also the ETF with the highest insurance content in the A-share market, with insurance accounting for 39% and securities companies accounting for 60%, allowing for a one-click layout of core non-bank assets ### Related Stocks - [513090.CN](https://longbridge.com/en/quote/513090.CN.md) - [512070.CN](https://longbridge.com/en/quote/512070.CN.md) - [06030.HK](https://longbridge.com/en/quote/06030.HK.md) ## Related News & Research - [Universal Digital Inc. Announces Termination of ETF Partnership Agreement | LFGMF Stock News](https://longbridge.com/en/news/286616540.md) - [Keep Your Portfolio Safe With This Low-Volatility ETF](https://longbridge.com/en/news/286604877.md) - [Guardian Ultra-Short U.S. T-Bill Fund ETF declares $0.1448 dividend](https://longbridge.com/en/news/286471588.md) - [This ETF Is Flying High Again. Here's How to Tell If It Will Continue.](https://longbridge.com/en/news/285754960.md) - [BNB ETF Could Be Next Big Crypto Breakthrough, Says Bloomberg Analyst](https://longbridge.com/en/news/286639724.md)