估值优势、红利资产再受热捧？港股通红利ETF（159220）场内收涨0.59%，连续2日创收盘价新高！

Core Viewpoint - The Hong Kong stock market has shown a strong upward trend, with significant increases in both volume and price, particularly in high-dividend sectors such as oil and petrochemicals, non-bank financials, home appliances, and construction [1] Group 1: Market Performance - The A-share market exhibited a one-sided upward trend, with both volume and price rising [1] - The Hang Seng Index closed up by 0.76%, although it experienced a narrowing of gains towards the end of the trading session [1] - High-dividend sectors in the Hong Kong market performed well, including oil and petrochemicals, non-bank financials, home appliances, and construction [1] Group 2: ETF Performance - The Hong Kong Dividend ETF (159220) tracking the S&P Hong Kong Low Volatility Dividend Index rose by 0.59% in the market [2] - Since September 11, the ETF has achieved consecutive closing price highs over two trading days, leading the gains in dividend assets [2] - The S&P Hong Kong Low Volatility Dividend Index has outperformed other common Hong Kong and A-share dividend theme indices, with a year-to-date increase of 26.74% as of October 20 [3][4] Group 3: Index Composition and Quality - The S&P Hong Kong Low Volatility Dividend Index includes a balanced mix of large-cap and mid-cap stocks, with over half of its constituents being state-owned enterprises, indicating strong dividend capability and willingness [4] - The index's top ten constituents are primarily in high-dividend sectors such as finance, real estate, and energy, showcasing its comprehensive dividend attributes [4] - The new "National Nine Articles" policy enhances the constraints on listed companies' dividends, focusing on the quality of earnings and sustainability of dividends, which may lead to improved shareholder returns [4] Group 4: Investment Outlook - The Hong Kong Dividend ETF (159220) is designed to select stocks with low volatility and high dividend yields, with a current dividend yield of 5.72%, outperforming other indices [5] - Amid global economic slowdown and increased asset volatility, high-dividend assets with solid fundamentals and defensive characteristics are expected to remain attractive to investors [5]