Core Viewpoint - The capital market in April is experiencing volatility due to Trump's signals of easing tariffs on China and the heated debate over potential interest rate cuts by the Federal Reserve, leading to a continued mixed performance in the dividend sector [1][4]. Market Performance - The Hong Kong dividend ETFs, such as Bosera (513690) and the Low Volatility Dividend 100 ETF (159307), showed slight fluctuations with minimal changes in their prices [1]. - The dividend sector's performance is influenced by Trump's acknowledgment of high tariffs and the potential for reduction, which has alleviated some market concerns regarding trade tensions [4]. Investment Trends - There is a notable shift in investor preference towards dividend stocks, driven by the need for stable cash flows amid ongoing trade uncertainties and the anticipated interest rate cuts from the Federal Reserve [4][7]. - The dividend yield of the CSI Dividend Index stands at 6.31%, making it particularly attractive as the 10-year U.S. Treasury yield has fallen to 4.35% [4]. Fundamental Analysis - The underlying logic of dividend assets is evolving from being labeled as "traditional cyclical stocks" to being recognized as "new cash cows," with an increasing focus on companies that provide stable dividends and are involved in digital transformation [4]. - A-share listed companies are projected to distribute over 2.8 trillion yuan in dividends in 2024, marking a historical high, influenced by new regulations linking dividend ratios to refinancing [4]. Technical Analysis - The Bosera Hong Kong Dividend ETF (513690) has recently broken through its annual line with significant volume, confirming support at this level [7]. - The technical indicators show a bullish trend, with a golden cross between the 5-day and 20-day moving averages, and continuous net inflows of capital into dividend assets [7]. Fund Recommendations - Recommended funds include the Bosera Hong Kong Dividend ETF (513690), the Low Volatility Dividend 100 ETF (159307), and the All-Index Cash Flow ETF (563833), which are positioned to benefit from the current market dynamics [8].