每调买机？港股红利低波ETF(520550)份额连增13周，获资金持续青睐

Core Insights - The Hang Seng Index opened lower on August 4, with dividend assets under pressure. The Hong Kong Dividend Low Volatility ETF (520550) fell by 1.08% as of 9:37 AM, but the fund's share volume has increased for 13 consecutive weeks, reaching approximately 1 billion shares, a historical high [1]. Group 1: Market Trends - The value of the Hong Kong high dividend low volatility strategy is becoming more apparent, with the dynamic dividend yield of the Hang Seng High Dividend Low Volatility Index nearing 6%, significantly higher than major global indices, providing a stable cash flow foundation [1]. - The constituent stocks of this index are primarily stable operators in the financial and energy sectors, known for their high dividends and strong earnings certainty, which enhances their defensive characteristics [1]. Group 2: Valuation and Investment Potential - Despite the increase in Hong Kong stock valuations, they remain within a reasonable range, with some high dividend stocks experiencing significant price corrections that contrast with their fundamentals, indicating potential for mean reversion [1]. - In a declining interest rate and volatile market environment, this strategy offers dual potential for "income protection" and "valuation recovery," supported by continued inflows from southbound funds into related ETFs, reflecting rising demand for this allocation [1].