红利策略阶段占优，防御属性凸显配置价值，国企红利ETF(159515)上涨0.08%

Core Insights - The China Securities State-Owned Enterprises Dividend Index has shown a slight increase of 0.12% as of November 19, 2025, with notable gains in constituent stocks such as Sinopec (up 4.14%) and China National Petroleum (up 3.24%) [1] - The National State-Owned Enterprises Dividend ETF (159515) has also increased by 0.08%, indicating a positive trend in dividend-focused investments [1] - In a weak recovery environment, dividend strategies are currently favored over TMT (Technology, Media, and Telecommunications) sectors, as the latter shows signs of profit-taking [1] - The index reflects the performance of 100 listed companies with high and stable cash dividend yields, selected from state-owned enterprises [1] Market Performance - The top ten weighted stocks in the China Securities State-Owned Enterprises Dividend Index account for 17.08% of the index, with companies like COSCO Shipping and Jizhong Energy leading the list [2] - The trading volume for the National State-Owned Enterprises Dividend ETF reached 203.39 million yuan, with a turnover rate of 4.55% [1] Investment Strategy - Financial analysts suggest focusing on stable dividend assets due to their defensive attributes in the current market environment, as uncertainties remain high [1] - The preference for stable dividend stocks over cyclical ones is emphasized, given the ongoing challenges in global demand and domestic infrastructure development [1]