--- title: "Tech stocks pulled back after a surge, while bank stocks continued to rise!" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/40132064.md" description: "On April 23, major A-share indices all retreated, while bank stocks bucked the trend and strengthened. Among them, Guiyang Bank surged over 8% at one point in the morning session, while Qingdao Rural Commercial Bank, Bank of Xi'an, Xiamen Bank, Bank of Changsha, and others all rose over 3%. The 10-billion-yuan top-tier bank ETF Huabao (512800) rose over 0.6% against the market trend during the session. In fact, since the end of January 2026, the A-share banking sector has shown a sustained and moderate recovery. Feng Chencheng, fund manager of the bank ETF Huabao (512800), stated that after nearly seven consecutive years of declining bank interest margins, they have now stabilized and improved on a month-on-month basis..." datetime: "2026-04-23T11:08:12.000Z" locales: - [en](https://longbridge.com/en/topics/40132064.md) - [zh-CN](https://longbridge.com/zh-CN/topics/40132064.md) - [zh-HK](https://longbridge.com/zh-HK/topics/40132064.md) author: "[同壁财经](https://longbridge.com/en/profiles/26505347.md)" --- # Tech stocks pulled back after a surge, while bank stocks continued to rise! On April 23, major A-share indices retreated across the board, while bank stocks bucked the trend and strengthened. Among them, Guiyang Bank surged over 8% at one point in the morning session, while Qingdao Rural Commercial Bank, Xi'an Bank, Xiamen Bank, Changsha Bank, and others all rose over 3%. The top-tier **Bank ETF Huabao (512800)** with tens of billions under management rose over 0.6% against the market trend during the session. In fact, since the end of January 2026, the A-share banking sector has shown a sustained and moderate recovery trend. **Feng Chencheng, the fund manager of Bank ETF Huabao (512800), stated that after nearly seven consecutive years of declining net interest margins (NIMs), the banking sector's NIMs have now stabilized and improved quarter-on-quarter, and asset quality is also continuously improving. Recently, 7 city and rural commercial banks have released their Q1 2026 reports, showing impressive revenue growth and a strong start to the year. Among them, Xi'an Bank, Guiyang Bank, Nanjing Bank, and Qilu Bank saw year-on-year revenue growth of 41%, 14.6%, 13.5%, and 13% respectively in Q1 2026. It is therefore expected that the overall revenue growth of the A-share banking industry in Q1 2026 is likely to exceed expectations.** Feng Chencheng further analyzed that the better-than-expected Q1 2026 revenue was mainly due to quarter-on-quarter increases in NIMs for most banks. Since 2025, city commercial banks have already taken the lead in stabilizing their NIMs. In Q1 2026, the decline in the yield on the asset side of banks was lower than expected, new loan interest rates remained stable, and more importantly, liability-side interest rates fell relatively quickly. It is expected that future deposit maturity repricing and low risk appetite among household depositors will continue to drive down banks' annual interest payment rates. Furthermore, the banking sector's earnings are highly certain, dividends are stable, and performance is entering a recovery phase; the revenue growth of large banks is expected to rebound across the board, and the balance sheet expansion advantages of city and rural commercial banks in high-quality regions are being realized continuously, injecting growth potential into the banking sector. Bank ETF Huabao (512800) and its feeder fund (240019) passively track the [CSI Bank](https://xueqiu.com/S/SZ399986?from=status_stock_match) Index. The index's constituent stocks cover 42 listed banks in the A-share market, making it an efficient investment tool for tracking the overall performance of the banking sector. As of April 22, 2026, the latest size of Bank ETF Huabao (512800) exceeded 10.7 billion yuan, with an average daily turnover of over 800 million yuan since 2025, making it the largest and most liquid among the 10 banking sector ETFs in the A-share market. (Data source: Shanghai and Shenzhen Stock Exchanges, Wind) **Data source:** Shanghai and Shenzhen Stock Exchanges, Wind. **ETF fee-related notes:** When investors subscribe for or redeem fund units, subscription and redemption agents may charge a commission not exceeding 0.5%, which includes related fees charged by stock exchanges, registration institutions, etc. Feeder fund fee-related notes: For Huabao CSI Bank ETF Feeder Fund (Class A), the subscription fee (front-end load) is 1,000 yuan per transaction for subscription amounts of 2 million yuan (inclusive) or more, 0.6% for amounts between 1 million yuan (inclusive) and 2 million yuan, and 1% for amounts below 1 million yuan. The redemption fee is 1.5% for holding periods under 7 days, 0.5% for holding periods from 7 days (inclusive) to 180 days, 0.25% for holding periods from 180 days (inclusive) to 1 year, and 0% for holding periods of 1 year (inclusive) or more; no sales service fee is charged. For Huabao CSI Bank ETF Feeder Fund (Class C), no subscription fee is charged. The redemption fee is 1.5% for holding periods under 7 days, 0.5% for holding periods from 7 days (inclusive) to 30 days, and 0% for holding periods of 30 days (inclusive) or more; the sales service fee is 0.4%. **Risk warning:** Bank ETF Huabao and its feeder fund passively track the CSI Bank Index. The base date of this index is 2004.12.31, and it was released on 2013.7.15. The composition of the index's constituent stocks is adjusted in a timely manner according to the index compilation rules. Past performance does not indicate future results. The index constituent stocks mentioned in this article are for display purposes only. Descriptions of individual stocks do not constitute investment advice in any form, nor do they represent the holdings information or trading trends of any fund under the management company. The risk rating assessed by the fund manager for Bank ETF Huabao and its feeder fund is R3-medium risk, suitable for balanced (C3) and above investors. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, expressions in any form, etc.) is for reference only. Investors are responsible for any investment decisions they make independently. Furthermore, any views, analyses, and forecasts in this article do not constitute investment advice of any form to readers, and no responsibility is assumed for any direct or indirect losses arising from the use of the content of this article. **Fund investment carries risks. The past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Fund investment should be approached with caution.** ### Related Stocks - [512800.CN](https://longbridge.com/en/quote/512800.CN.md) - [601997.CN](https://longbridge.com/en/quote/601997.CN.md) - [600928.CN](https://longbridge.com/en/quote/600928.CN.md) - [601187.CN](https://longbridge.com/en/quote/601187.CN.md) - [601665.CN](https://longbridge.com/en/quote/601665.CN.md)