--- title: "Tech stocks pulled back after a surge, while bank stocks continued to rise!" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/40132082.md" description: "On April 23, major A-share indices all retreated, while bank stocks strengthened against the market trend. Among them, Guiyang Bank once surged over 8% in the morning session, and Qingdao Rural Commercial Bank, Xi'an Bank, Xiamen Bank, Changsha Bank, etc., all rose over 3%. The 100-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 continuous and mild recovery trend. Feng Chencheng, the fund manager of Bank ETF Huabao (512800), stated that after the continuous decline of the bank interest margin for nearly seven years, it has now stabilized and improved quarter-on-quarter..." datetime: "2026-04-23T11:09:32.000Z" locales: - [en](https://longbridge.com/en/topics/40132082.md) - [zh-CN](https://longbridge.com/zh-CN/topics/40132082.md) - [zh-HK](https://longbridge.com/zh-HK/topics/40132082.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 once surged over 8% in the morning session, while Qingdao Rural Commercial Bank, Xi'an Bank, Xiamen Bank, and Changsha Bank all rose over 3%. The top-tier 10-billion-yuan **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 trend. **Feng Chencheng, the fund manager of Bank ETF Huabao (512800), stated that after the continuous decline of bank interest margins for nearly seven years, they have currently stabilized and improved quarter-on-quarter, and asset quality is also continuously improving. Recently, 7 city and rural commercial banks announced 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 interest margins for most banks. Since 2025, city commercial banks have already taken the lead in stabilizing their interest margins. In Q1 2026, the decline in the yield on the asset side of banks was lower than expected, and the interest rates on newly issued loans remained stable. More importantly, the interest rates on the liability side declined relatively quickly. It is expected that the future repricing of maturing deposits and the low risk appetite of resident depositors will continue to drive down the banks' annual interest payment rates. Furthermore, the banking sector's performance is highly certain, with stable and high dividend payouts, and its performance is entering a recovery phase. The revenue growth of large banks is expected to rebound comprehensively, and the advantages of balance sheet expansion for city and rural commercial banks in high-quality regions are continuously being realized, 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. Its 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 exceeding 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 Information:** When investors subscribe for or redeem fund shares, 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 Information: For the Huabao CSI Bank ETF Feeder Fund (Class A), the subscription fee rate (front-end load) is 1,000 yuan per transaction for subscription amounts of 2 million yuan (inclusive) or above, 0.6% for amounts between 1 million yuan (inclusive) and 2 million yuan, and 1% for amounts below 1 million yuan. The redemption fee rate is 1.5% for holding periods less than 7 days, 0.5% for holding periods between 7 days (inclusive) and 180 days, 0.25% for holding periods between 180 days (inclusive) and 1 year, and 0% for holding periods of 1 year (inclusive) or more; no sales service fee is charged. The Huabao CSI Bank ETF Feeder Fund (Class C) does not charge a subscription fee. The redemption fee rate is 1.5% for holding periods less than 7 days, 0.5% for holding periods between 7 days (inclusive) and 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 December 31, 2004, and it was published on July 15, 2013. The composition of the index constituents is adjusted according to the index compilation rules, and past performance does not indicate future results. The index constituents 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 ratings of Bank ETF Huabao and its feeder fund, as assessed by the fund manager, are both R3 - Medium Risk, suitable for investors with a balanced (C3) or higher risk profile. 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 predictions in this article do not constitute investment advice of any form to readers, nor shall they be held responsible for any direct or indirect losses arising from the use of the content of this article. **Fund investment involves 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. Caution is advised in fund investment.** ### 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) - [002958.CN](https://longbridge.com/en/quote/002958.CN.md) - [601577.CN](https://longbridge.com/en/quote/601577.CN.md)