Lufax Holding dominates week's financial movers with 53% surge

It was an eventful week for the financials sector as the Federal Reserve signaled that a pivot toward looser monetary policy is still on track, spurring market participants to bid up Treasury bonds.

Financial stocks (with market cap over $2B) closed out the week ended March 22 comfortably in the green, with the Financial Select Sector SPDR ETF (NYSEARCA:XLF) advancing 1.5%, compared with the S&P 500's 2.3% climb.

Lufax Holding (NYSE:LU), a Chinese personal financial services platform, rose the most of any financial stock this past week, jumping 53.3%, as its huge special dividend overshadowed below-consensus quarterly results;

A distant second in terms of performance, Argentine lender Banco Macro S.A. (NYSE:BMA) ascended 18.7%;

Bitcoin (BTC-USD) miner CleanSpark (NASDAQ:CLSK) drove up 12% despite bitcoin's weekly slide;

Upstart Holdings (NASDAQ:UPST), a provider of an AI-driven lending platform for banks and credit unions, gained 10%; and

Grupo Financiero Galicia S.A. (NASDAQ:GGAL), a fellow Argentine bank, rounded out the five biggest winners with a 9.4% advance.

For the losers, embattled regional lender New York Community Bancorp (NYSE:NYCB) took the lead, retreating 9.2%, as Raymond James downgraded the stock on the expectation that credit issues will weaken earnings for the next several years;

Chile-based Banco de Chile (NYSE:BCH) slumped 9.1%;

Dun & Bradstreet Holdings (NYSE:DNB), a provider of business-to-business data and analytics, gapped down 8.2%;

Freedom Holding Corp (NASDAQ:FRHC) fell 6.8%; and

FactSet Research Systems (NYSE:FDS), which during the week Barclays cut to Equal Weight, drifted down 6%.