华泰证券：短期高股息板块相对收益或进入压力期 但中长期仍具备配置价值

Core Viewpoint - The report from Huatai Securities indicates that while the high dividend sector performed relatively poorly among major stock indices in June, there was significant internal structural differentiation, with banks and non-banks showing better performance within the high dividend category [1] Group 1 - In June, market risk appetite improved, but the overall performance of the high dividend sector was average among major stock indices [1] - There was notable internal differentiation within the high dividend sector, with banks and non-banks outperforming [1] - Following the adjustment in the banking sector at the end of June, investors are concerned about the future performance of the high dividend sector after this differentiation [1] Group 2 - Huatai Securities believes that the short-term relative returns of the high dividend sector may face pressure, but it still holds long-term allocation value [1]