Institution: Bank stocks are transitioning from "pro-cyclical" to "counter-cyclical" varieties.

On September 4th, bank stocks bucked the trend and strengthened. Data shows that the bank index closed up 0.75%. Among individual stocks, Agricultural Bank of China led the gains with a 5.17% increase, reaching a new all-time high. Postal Savings Bank of China, Citic Bank, Industrial and Commercial Bank of China, and Bank of China followed with increases of 2.90%, 2.17%, 1.34%, and 1.26% respectively. Dai Zhifeng, Chief Analyst of China Thai Securities' banking sector, stated that bank stocks are stable high dividend assets. From a fundamental perspective, bank stocks are transitioning from "cyclical" to "non-cyclical" sectors. The underlying assets of banks have support, with stable asset quality and performance, which has created bank stocks with high and stable dividend yields. In the current market environment of "asset scarcity," they are favored by long-term funds such as insurance assets.