核心指数即将调整，港股农行、建行再创新高！港股红利ETF基金(513820)收创新高，标的指数股息率超8%

Core Viewpoint - The Hong Kong Dividend ETF (513820) has shown strong performance, reaching a historical high with a daily inflow of nearly 10 million yuan, reflecting investor interest in high dividend strategies amid a favorable market environment [1][3]. Market Performance - The underlying index of the Hong Kong Dividend ETF saw most constituent stocks rise, particularly in the banking sector, with notable gains from CITIC Bank (up 5.62%), Minsheng Securities (up over 4%), and Agricultural Bank of China and China Construction Bank (both up over 3%) [3]. - The latest dividend yield for the Hong Kong Dividend ETF stands at 8.3%, leading among all dividend indices in the market [3][11]. Investment Strategy - High dividend strategies are favored due to several factors: increased attention from investors following public fund regulations, a significant drop in market volatility, and the weak performance of U.S. risk assets [4][5]. - The current market environment, characterized by high U.S. Treasury yields, supports high dividend strategies, making them attractive for investors seeking stable cash flows [5][9]. Policy Support - Hong Kong has introduced various supportive policies to enhance investment convenience, including lowering stamp duties and encouraging long-term capital inflows from pension and insurance funds [6][8]. - The global liquidity environment remains relatively loose, with a long-term downward trend in risk-free interest rates, further enhancing the appeal of dividend assets [9]. Resilience of Dividend Assets - Dividend assets are highlighted for their "anti-shock" properties, as their constituent stocks generally exhibit internal stability and low dependence on external demand, making them a resilient investment choice amid global risk re-evaluations [7][10]. - The ongoing geopolitical tensions and trade frictions have reinforced the attractiveness of dividend strategies, as they are less affected by external shocks and provide stable returns [10]. Valuation and Distribution - The valuation of Hong Kong stocks is comparatively lower than that of A-shares, providing a greater margin of safety for investors [11]. - The Hong Kong Dividend ETF is notable for its monthly dividend assessment feature, allowing for up to 12 distributions per year, with a cumulative dividend of 0.3 yuan per 10 shares since July 2024 [11][12].