港股市场流动性改善预期增强，此类标的被看好

Group 1 - The Hong Kong Stock Exchange has officially implemented a reduction in the minimum price fluctuation for stocks, which will help lower trading costs and improve trading efficiency [1] - The first adjustment, effective from August 4, involves stocks priced between HKD 10 to 20 and HKD 20 to 50, with minimum price fluctuations changing from HKD 0.02 to HKD 0.01 and from HKD 0.05 to HKD 0.02 respectively, potentially benefiting liquidity for stocks in the HKD 10 to 50 range [1] - The Federal Reserve's interest rate futures market indicates an increase in the likelihood of a 25 basis point rate cut in September from approximately 40% to 88% following the non-farm payroll report, which may positively impact the Hong Kong stock market due to improved liquidity expectations [1] Group 2 - Market analysts are optimistic about the dividend sector in the Hong Kong stock market, using high dividend yield, high dividend growth rate, or expected high dividend growth rate as selection criteria, which gives it a "bond-like" income characteristic [2] - For example, the Hong Kong Central Enterprises Dividend ETF (513910) tracking the CSI Hong Kong Stock Connect Central Enterprises Dividend Index had a dividend yield of 5.82% over the past 12 months as of August 1, showing relatively lower volatility in a fluctuating market [2] - The inclusion of central enterprises in the component stocks may provide additional assurance for dividends [2]