非银金融行业：建议左侧增持非银板块

国泰海通证券02-09

1.【非银一周观点】：近期市场对于非银板块的关注有所降温。截止本周五，非银板块全年下跌1.16%。其中，券商下跌2.27%，保险上涨仅0.51%，全部跑输万德全A指数。除了交易层面的原因外，市场对于板块盈利不确定性的担忧（尤其是25年Q4权益市场波动带来的25年业绩预期）是股价调整的重要原因。如果回归到利率企稳、慢牛背景下，券商保险依然被低估。我们依然建议左侧增持非银板块。主要看好三条主线：1）...

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