关注红利板块防御价值，红利国企ETF（510720）涨超1.4%，关注上市以来连续分红18个月，可月月评估分红的红利国企ETF

Core Viewpoint - Nomura Orient International Securities highlights that in the context of escalating Sino-U.S. trade tensions, dividend stocks have regained their defensive value after two months of adjustment, particularly in the banking sector. The report emphasizes the importance of monitoring geopolitical risks on dividend stocks [1]. Group 1: Market Conditions - The market risk appetite is under pressure, and investors need to closely observe the impact of geopolitical risks on dividend sectors [1]. - If the adjustment in A-shares does not trigger a chain reaction in the funding environment, dividend stocks that are less affected by these events can provide adequate defensive characteristics [1]. Group 2: Dividend Stocks - The Dividend State-Owned Enterprises ETF (510720) tracks the State-Owned Enterprises Dividend Index (000151), which selects stocks with high dividend characteristics, stable dividends, and good liquidity, primarily covering traditional sectors such as finance, energy, and industry [1]. - The Dividend State-Owned Enterprises ETF (510720) has consistently paid dividends every month since its listing, achieving 18 consecutive months of dividends, making it one of the few ETFs in the market to maintain such a record [1].