市场波动加大，港股通央企红利ETF南方(520660)上涨1.25%，机构：港股红利资产四季度有望迎资金增配

Core Insights - The market volatility has increased following the Federal Reserve's interest rate cuts and the easing of US-China relations, leading to a pullback in AI hardware stocks while dividend assets continue to rise since October [1] Group 1: Market Trends - Dividend assets are expected to outperform in the short term amid current market fluctuations, with the Hong Kong Stock Connect Central Enterprise Dividend ETF (520660) rising by 1.25% today and seeing a net inflow of 586 million yuan over the past 20 days [1] - The valuation advantage of Hong Kong dividend assets compared to A-shares remains significant, indicating a high cost-performance ratio for allocating to Hong Kong dividend assets, with expectations for increased capital allocation in the fourth quarter [1] Group 2: ETF Performance - The Hong Kong Stock Connect Central Enterprise Dividend ETF (520660) tracks the National New Hong Kong Stock Connect Central Enterprise Dividend Index, which has a higher allocation to telecommunications and stronger "new economy" attributes compared to other dividend indices in the AH market, demonstrating relatively stable performance and certain "anti-cyclical" characteristics [1] - The off-exchange linked funds for this ETF are the Link A (021971) and Link C (021972) [1]