券商：本周申万券商 II 指数收跌1.37%，跑输沪深 300 指数 0.78pct。2025 年券商指数全年跑输沪深300 超17pct，2026 年关注板块向上突破动能。2025 年，A 股主要股指均实现显著上涨（沪深300+15.8%、创业板指+45.2%、科创50+31.7%），券商指数走势与大盘显著分化，全年收跌2.05%。该现象背后则反映出券商板块盈利能力与估值之差愈演愈烈。我们认为...
Source Link券商：本周申万券商 II 指数收跌1.37%，跑输沪深 300 指数 0.78pct。2025 年券商指数全年跑输沪深300 超17pct，2026 年关注板块向上突破动能。2025 年，A 股主要股指均实现显著上涨（沪深300+15.8%、创业板指+45.2%、科创50+31.7%），券商指数走势与大盘显著分化，全年收跌2.05%。该现象背后则反映出券商板块盈利能力与估值之差愈演愈烈。我们认为...
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