看好港股科技但又希望降低波动？也可以关注全市场首只——香港大盘30ETF（520560）及其联接基金 （501301），自带"科技+红利"哑铃策略，一基荟萃30只港股通中资大盘股，重仓股既有阿里巴巴、腾 讯控股等高弹性科技股，又囊括了建设银行、中国平安等稳健高股息，"T+0机制"交易灵活，是港股长 期配置的理想底仓工具。 每日经济新闻 业内人士指出，站在当前时点，对于投资者而言，单一押注某一风格可能面临较大的不确定性，采 用"哑铃策略"进行配置是当前环境的较优解，既契合当前"政策托底+科技突破"的市场环境，也符合外 资机构青睐的成长龙头与高股息双主线逻辑。 自带"科技+红利"哑铃策略的——香港大盘30ETF（520560）在经历此前的日线3连涨后，今日（11月27 日）微跌休整之际，场内频现溢价，显示买盘资金更为强势。数据显示，香港大盘30ETF（520560）近 5日累计吸金3161万元，反映资金看好港股后市表现，积极运用哑铃策略进行布局。 宏观层面，美联储发布《褐皮书》，降息预期飙升，据CME"美联储观察"，美联储12月降息25个基点 的概率升至85%。另外，摩根大通现在预测，美联储将在12月和明年1月分 ...

来源：新浪基金 自带"科技+红利"哑铃策略的——香港大盘30ETF（520560）在经历此前的日线3连涨后，今日（11月27 日）微跌休整，当前在水面附近震荡，或为资金提供了倒车接人的机会，事实上，该ETF场内频现溢价 区间，显示买盘资金更为强势！ 中邮证券指出，Q4是泡泡玛特的传统销售旺季，以欧美为核心的海外市场，由于即将迎来密集的节 日，或迎来强劲的礼品和潮玩消费需求。 宏观层面，美联储发布《褐皮书》，降息预期飙升，据CME"美联储观察"，美联储12月降息25个基点 的概率升至85%。另外，摩根大通现在预测，美联储将在12月和明年1月分别降息25个基点。 美联储降息，如何利好港股市场？中国银河证券指出，美联储降息后，美元走弱预期会推动港元利率中 枢下行，同时还能推动外资回流，双重作用将有效改善港股的流动性，进一步带动港股整体向好。 业内人士指出，站在当前时点，对于投资者而言，单一押注某一风格可能面临较大的不确定性，采 用"哑铃策略"进行配置是当前环境的较优解，既契合当前"政策托底+科技突破"的市场环境，也符合外 资机构青睐的成长龙头与高股息双主线逻辑。 看好港股科技但又希望降低波动？也可以关注全市场首只— ...

数据显示，香港大盘30ETF（520560）近5日累计吸金3161万元，反映资金看好港股后市表现，积极运 用哑铃策略进行布局！ 自带"科技+红利"哑铃策略的——香港大盘30ETF（520560）在经历此前的日线3连涨后，今日（11月27 日）微跌休整，当前在水面附近震荡，或为资金提供了倒车接人的机会，事实上，该ETF场内频现溢价 区间，显示买盘资金更为强势！ 成份股方面，泡泡玛特一度大涨9%，市值重回3000亿港元以上；小米集团、中国人寿涨逾3%， 中国 石油化工股份、农业银行涨超2%，安踏体育，理想汽车、中国海洋石油等个股跟涨。 美联储降息，如何利好港股市场？中国银河证券指出，美联储降息后，美元走弱预期会推动港元利率中 枢下行，同时还能推动外资回流，双重作用将有效改善港股的流动性，进一步带动港股整体向好。 业内人士指出，站在当前时点，对于投资者而言，单一押注某一风格可能面临较大的不确定性，采 用"哑铃策略"进行配置是当前环境的较优解，既契合当前"政策托底+科技突破"的市场环境，也符合外 资机构青睐的成长龙头与高股息双主线逻辑。 看好港股科技但又希望降低波动？也可以关注全市场首只——香港大盘30ETF（520 ...

Group 1 - The Hong Kong Large Cap 30 ETF (520560) experienced a slight decline after three consecutive days of gains, indicating a potential opportunity for investors to enter the market [1] - The ETF has attracted a total of 31.61 million yuan in the past five days, reflecting strong investor confidence in the future performance of Hong Kong stocks [1] - Key constituent stocks such as Pop Mart surged by 9%, regaining a market capitalization of over 300 billion HKD, while Xiaomi Group and China Life rose by over 3% [1] Group 2 - The fourth quarter is traditionally a peak sales season for Pop Mart, with strong demand expected in the overseas markets, particularly in the gift and trendy toy segments due to upcoming holidays [2] - The Federal Reserve's recent Beige Book indicated rising expectations for interest rate cuts, with an 85% probability of a 25 basis point cut in December, which could positively impact the Hong Kong stock market [2] - The "barbell strategy" is recommended for investors to mitigate uncertainty, aligning with the current market environment characterized by policy support and technological breakthroughs [2] Group 3 - The Hong Kong Large Cap 30 ETF (520560) is highlighted as a suitable long-term investment tool, combining high-growth technology stocks and stable high-dividend stocks [3] - The ETF includes major companies like Alibaba and Tencent, providing flexibility with a "T+0 mechanism" for trading [3]

Core Insights - The Hong Kong stock market showed strong performance in early trading, driven by the "technology + dividend" strategy of the Hong Kong Large Cap 30 ETF (520560), which saw a price increase of over 1% during the session [1] - The ETF has experienced a net inflow of funds totaling 31.61 million yuan over the past four days, indicating positive sentiment towards the future performance of Hong Kong stocks [1] - Alibaba reported a 34% year-on-year growth in cloud revenue and has achieved triple-digit year-on-year growth in AI-related product revenue for nine consecutive quarters [3] Group 1: Market Performance - The Hong Kong Large Cap 30 ETF (520560) is actively traded, with a current price increase of 0.94%, marking three consecutive days of gains [1] - The ETF's significant premium in the market reflects strong buying interest, with a total net inflow of 31.61 million yuan over the last four days [1] - Major stocks contributing to the ETF's performance include Meituan, which rose over 6%, and others like ZTO Express and BYD, which saw increases of over 3% and 2%, respectively [1] Group 2: Economic Factors - The Federal Reserve's dovish stance is a key factor, with expectations of a 25 basis point rate cut in December at a probability of 84.9% [2] - The anticipated rate cut is expected to weaken the US dollar, which could lead to lower Hong Kong dollar interest rates and attract foreign capital back to the market, enhancing liquidity [2] - Current conditions differ from previous rate cut cycles, as corporate profits are still rising and the global economy remains stable, which is favorable for the Hong Kong stock market [2] Group 3: Company Insights - Alibaba's capital expenditure for the quarter was 31.5 billion yuan, with a total of approximately 120 billion yuan spent on AI and cloud infrastructure over the past four quarters [3] - The ongoing investment in AI infrastructure by Alibaba signifies a steady progress towards self-sufficiency in domestic computing power, potentially marking an industry turning point [3] - The valuation of the Hong Kong Large Cap 30 ETF (520560) is currently at a PE ratio of 10.25, which is 64.77% of its historical range, indicating a favorable valuation with a higher margin of safety [3]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 截至昨日（11月25日），自带"科技+红利"哑铃策略的——香港大盘30ETF（520560）连续4日获资金净 流入，合计金额3161万元，反映资金看好港股后市表现，积极运用哑铃策略进行布局！ 消息面上，11月25日晚间，阿里巴巴发布2026财年第二季度财报，云收入同比增长34%，AI相关产品收 入连续9个季度实现三位数同比增长；本季度资本开支为315亿元，过去四个季度在AI+云基础设施的资 本开支约1200亿元。 中信证券指出，阿里持续坚定投入AI基础设施，标志着国产算力的自主可控进程正在稳步推进，国产 算力有望迎来行业拐点。建议关注国产算力投资机遇，聚焦卡位精准、长期竞争力凸显的龙头。 看好港股科技但又希望降低波动？也可以关注全市场首只——香港大盘30ETF（520560）及其联接基金 【联接A（LOF）501301；联接C 006355】，自带"科技+红利"哑铃策略，一基荟萃30只港股通中资大盘 风险提示：香港大盘30ETF被动跟踪恒生中国（香港上市）30指数，该指数基日为2000.1.3，发布于 2003.1.20，指数成份股构成 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2025年11月以来（25/11/1-11/24），在业绩步入空窗期与美联储12月降息预期反复等因素影响，A股整 体面临情绪回落压力，市场震荡轮动和资金年末止盈特征也在不断放大，"哑铃策略"配置思路或仍适合 当下行情，部分红利类主题ETF标杆品种凭借较为突出的防御属性，持续成为资金压舱选项。 （数据来源：Wind） Wind数据显示，目前A股市场两只百亿级红利主题ETF——红利ETF（510880）、红利低波ETF （512890）自2025年11月21日连续两个交易日获资金逆势布局，分别吸金4.40亿元、2.30亿元，在同期 全市场红利类主题ETF中资金净流入表现靠前，即使在阶段性调整窗口，资金对红利类资产的配置意愿 或依然积极。 （数据截至25/11/24） 其中，作为市场首只（成立于2018/12/19）跟踪红利低波指数的ETF，红利低波ETF（512890）自四季 度以来（25/10/1-11/24）便持续成为资金布局高股息资产的核心标的之一，区间累计吸引45.54亿元资金 布局，截至2025年11月24日，最新基金规模达258 ...

Core Viewpoint - The Hong Kong stock market continues to show strong performance, particularly in the technology sector, with the Hang Seng Technology Index rising over 2% and the Hong Kong Large Cap 30 ETF (520560) recovering its 5-day moving average, indicating a potential short-term rebound [1][2] Group 1: Market Performance - The Hong Kong Large Cap 30 ETF (520560) saw a price increase of over 1.2%, currently up 1.15%, with a total of 30.68 million yuan in inflows over the past five days, reflecting positive sentiment towards the sector [1] - Notable stock performances include Xiaomi Group rising over 4%, Kuaishou over 3%, and Alibaba and SMIC both up over 2% [1] - The dividend-paying stocks also performed well, with Agricultural Bank of China, China Life, and China Petroleum all increasing by over 1% [1] Group 2: Technology Sector Insights - Alibaba is set to announce its latest quarterly results, with its Qianwen APP achieving over 10 million downloads in just one week, surpassing competitors like ChatGPT and Sora, marking it as the fastest-growing AI application [1] - Dongfang Securities expresses optimism regarding Alibaba's comprehensive AI capabilities and the growth potential of the Qianwen APP within Alibaba's business ecosystem [1] Group 3: Dividend Trends - Major state-owned banks are initiating mid-term dividends, with plans to distribute dividends in early December, leading to an acceleration in the mid-term dividend market [2] - The six major banks are expected to distribute a total of 204.657 billion yuan in dividends, accounting for nearly 80% of the total mid-term dividends among listed banks [2] Group 4: Investment Strategy - The current market environment suggests that a "barbell strategy" is optimal for investors, balancing between growth stocks and high-dividend stocks, aligning with the "policy support + technological breakthroughs" narrative [2] - The Hong Kong Large Cap 30 ETF (520560) has a price-to-earnings (PE) ratio of 1.09, indicating a favorable valuation position at the 62.38 percentile since its inception, suggesting a higher safety margin [2] Group 5: ETF Characteristics - The Hong Kong Large Cap 30 ETF (520560) launched on November 12, featuring a diversified portfolio of 30 large-cap stocks listed in Hong Kong [5] - The top ten holdings account for 72.84% of the ETF, with Alibaba, Tencent, and China Construction Bank being the most significant contributors [5]

科技方面， 阿里巴巴今日（11月25日）将公布最新季度业绩，旗下千问APP公测一周下载量突破1000 万，超越ChatGPT、Sora、DeepSeek，成为史上增长最快的AI应用。东方证券认为，看好AI应用布局完 善后阿里的全栈AI优势强化，看好千问APP在阿里业务内的多方向增长潜力。 红利方面，近期国有大行陆续启动中期分红，计划12月上旬陆续派息，较2024年有所提前，推动了中期 分红行情加速到来。据统计，工农中建四大行的百亿元分红正在路上，六大行合计派现2046.57亿元， 约占全部上市银行中期分红总额的近80%。 今日（11月25日）港股表现继续强势，恒生科技涨超2%，自带"科技+红利"哑铃策略的——香港大盘 30ETF（520560）场内价格一度涨逾1.2%，现涨1.15%，盘中收复5日均线。 技术分析人士指出，5日均线低位拐头向上，是短期止跌反弹的"启动信号"！事实上，香港大盘30ETF （520560）此前5日累计吸金3068万元，反映资金看好板块后市表现，积极进场布局！ 细分方向来看，港股科技继续冲锋，小米集团涨超4%，快手涨逾3%，阿里巴巴、中芯国际涨超2%，港 股红利亦有亮眼表现， 农业银 ...

Core Insights - The Hong Kong stock market is experiencing a strong upward trend, with the Hang Seng Technology Index rising over 2% and the Hang Seng Index nearly 2% as of November 24 [1] - Major technology stocks such as Kuaishou and Alibaba have seen significant gains, with Kuaishou up over 6% and Alibaba rising more than 5% [1] - The Hong Kong Large Cap 30 ETF (520560) is attracting substantial investment, with a recent inflow of 29.82 million HKD over the past five days, indicating positive market sentiment towards Hong Kong stocks [1][3] Market Performance - The Hong Kong Large Cap 30 ETF (520560) has a current price increase of 1.49%, with a trading volume exceeding 36 million HKD, reflecting strong buying interest [1] - The ETF's underlying index has a price-to-earnings (PE) ratio of 9.94, which is relatively low compared to its historical levels, suggesting a favorable valuation for investors [3] Dividend Trends - Major state-owned banks in China are initiating mid-term dividends, with a total payout of approximately 204.66 billion HKD, accounting for nearly 80% of the total mid-term dividends among listed banks [2] Investment Strategy - The "barbell strategy" is recommended for investors, combining growth-oriented technology stocks with high-dividend yielding stocks to navigate current market uncertainties [3] - The Hong Kong Large Cap 30 ETF is positioned as a core asset for long-term investment, providing a diversified exposure to major Hong Kong stocks while minimizing individual stock selection risks [5][6]