HTSC(SH:601688) Mei Ri Jing Ji Xin Wen·2025-11-10 03:30Core Insights - The overall market experienced fluctuations last week (November 3-7, 2025), with investor sentiment becoming cautious. Dividend-themed ETFs are gaining traction as a valuable core allocation option [1] Market Performance - The first dividend low volatility ETF (512890) saw a net inflow of 574 million yuan over four days, making it the only dividend-themed ETF to exceed 500 million yuan in net inflows during this period. Its latest fund size reached a historical high of 25.814 billion yuan [1] - The Hong Kong Stock Connect Dividend ETF (513530) also experienced increased trading activity, with a cumulative net subscription of 175 million yuan since October 30, 2025, raising its fund size to 2.388 billion yuan, the highest since August 27, 2025 [1] Interest Rate Environment - The low interest rate environment is a significant factor enhancing the long-term allocation value of dividend assets. As of November 7, 2025, the 10-year government bond yield fell to 1.81%, while the dividend yields of the dividend low volatility ETF (512890) and the Hong Kong Stock Connect Dividend ETF (513530) still show a spread of 2.28% and 3.95%, respectively, which is higher than 53.92% and 51.07% over the past decade [1] Market Outlook - Huatai Securities indicated that the market is currently in a policy and earnings vacuum, requiring more catalysts for a significant upward breakthrough. The market is expected to remain volatile, with potential allocation opportunities in banks and certain cyclical dividend sectors amid domestic and international uncertainties [1] Company Background - Huatai Baichuan Fund, one of the first ETF managers in China, has over 18 years of experience in dividend-themed index investments. The firm manages five dividend strategy ETFs, including the first dividend low volatility ETF (512890) and the first Hong Kong Stock Connect high dividend ETF (513530), with a total management scale of 46.795 billion yuan as of November 7, 2025 [1]