红利类资产回调再现配置机会？恒生红利低波ETF（159545）盘中获净申购近亿份

Core Viewpoint - The market is experiencing volatility and differentiation, with sectors such as banking, coal, and steel undergoing collective pullbacks. However, the Hang Seng Low Volatility ETF (159545) has seen significant net inflows, indicating strong investor interest in dividend-paying assets amid a low-interest-rate environment [1]. Group 1: Market Performance - The Hang Seng Low Volatility ETF (159545) has recorded nearly 100 million shares in net subscriptions during intraday trading, reflecting accelerated capital inflow into ETFs [1]. - The ETF has achieved a historical milestone with over 2.6 billion shares and a total scale exceeding 3.8 billion yuan, marking the highest growth rate among all dividend ETFs this year [1]. Group 2: Investment Trends - There is a noticeable trend of capital shifting from bonds to equity assets, driven by improved domestic economic expectations and stable macroeconomic policies [1]. - The decline in risk-free interest rates and favorable equity market performance are prompting investors to adjust their asset allocations towards dividend stocks [1]. Group 3: Dividend Focus - The peak season for annual dividend distributions has begun since June, making dividend yields a focal point for market participants [1]. - The Hang Seng High Dividend Low Volatility Index, which comprises 50 liquid stocks with consistent dividends and moderate payout ratios, currently offers a dividend yield of approximately 5.8% [2].