港股高股息板块迎布局窗口，聚焦港股通红利低波ETF基金（159118）布局机遇

Core Viewpoint - The current market environment presents a favorable opportunity for investing in the Hong Kong Stock Connect high dividend sector, supported by historical performance and improving liquidity conditions [1] Group 1: Market Analysis - From 2014 to the present, the high dividend sector has shown an 82% success rate compared to major indices during the period from December to mid-January, with a 91% success rate for generating absolute returns [1] - The trading congestion is low, with the current trading volume accounting for only 6.1%, which is at a relatively low historical level, providing a good opportunity for repositioning [1] Group 2: Liquidity Environment - The tightest period of overseas liquidity has passed, with the end of the U.S. government shutdown leading to a significant decrease in the TGA account balance [1] - The probability of a 25 basis point rate cut by the Federal Reserve in December has risen to 86%, indicating a notable easing of external liquidity pressures [1] Group 3: Fund Characteristics - The Hong Kong Stock Connect Low Volatility Dividend ETF (159118) closely tracks the S&P Hong Kong Stock Connect Low Volatility Dividend Index, focusing on large-cap value stocks [1] - The top three sectors represented in the fund are real estate, public utilities, and banking, with the top ten holdings covering various high dividend targets [1] - The fund offers low fees (management and custody fees only 0.2%) and high efficiency (T+0 trading), allowing investors to easily access Hong Kong stocks, dividends, and low volatility [1]