Core Insights - The article highlights the performance of the Hong Kong Dividend ETF (159331), which has increased by over 1% after 15 consecutive months of dividends, emphasizing the value of high-yield strategies in the current market environment [1] Group 1: Market Trends - The high-yield dividend strategy is seen as a balanced choice in the current Hong Kong stock market, with a shift from foreign-led "offshore market" to a more domestic-focused "onshore market" due to the reallocation of wealth in China and the increasing influence of southbound capital [1] - Deep value assets, particularly high-dividend stocks from quality state-owned enterprises, are viewed as a "shield" and "ballast" that support the gradual increase of market valuation [1] Group 2: ETF Details - The Hong Kong Dividend ETF (159331) tracks the Hong Kong Stock Connect High Dividend Index (930914), which selects 30 securities with continuous dividends, good liquidity, and high dividend yields from the Stock Connect universe, focusing on traditional high-dividend sectors such as finance, energy, and industry [1] - Since September 2024, the ETF has maintained a record of 15 consecutive months of dividends, making it a noteworthy investment option [1]

Market Performance - The Hang Seng High Dividend Yield Index increased by 0.45%, with notable gains from China Coal Energy (+5.71%) and Orient Overseas International (+2.52%) [3] - The Hong Kong Dividend ETF (513690) rose by 0.64%, marking a three-day consecutive increase, with a latest price of 1.09 CNY [3] - The CSI Dividend Index fell by 0.01%, with Shannxi Coal and Chemical Industries leading the gainers at +2.98% [5] - The Hong Kong Dividend ETF (515890) increased by 0.34%, with a latest price of 1.48 CNY [5] - The Large Cap Growth ETF (159203) rose by 0.61%, with a latest price of 1.32 CNY [5] Liquidity and Trading Volume - The Hong Kong Dividend ETF (513690) had a turnover rate of 2.78% and a trading volume of 154 million CNY [3] - The Large Cap Growth ETF had a turnover rate of 9.79% and a trading volume of 1.5182 million CNY [7] - The Hong Kong Dividend ETF (515890) recorded a trading volume of 11.5241 million CNY [5] Economic Indicators - In September 2025, the Consumer Price Index (CPI) decreased by 0.3% year-on-year, while the Producer Price Index (PPI) fell by 2.3% [8] - New social financing in September was 3.5 trillion CNY, with a year-on-year growth rate of 8.7% [8] - M2 growth rate decreased to 8.4%, while M1 growth rate increased to 7.2% [9] Investment Insights - High dividend strategies are viewed as a balanced approach in the current Hong Kong market environment, with a shift from offshore to onshore market dynamics [9] - The fourth quarter of 2025 may present a key opportunity for bottom-fishing in dividend stocks, as pessimistic expectations may have been fully priced in [9] - The Hong Kong Dividend ETF closely tracks the Hang Seng High Dividend Yield Index, which reflects the performance of high dividend securities available through the Hong Kong Stock Connect [13] Fund Performance - The latest size of the Hong Kong Dividend ETF (513690) reached 5.451 billion CNY, with a record high of 5.044 billion shares [11][12] - The fund has seen continuous net inflows over the past four days, totaling 80.9743 million CNY [12]

Core Insights - The high dividend strategy is currently viewed as a balanced choice in the Hong Kong stock market environment, with a shift from foreign capital dominance to a more domestic-centric investment logic [1] - High dividend-paying stocks, particularly quality state-owned enterprises, are seen as deep value assets that support the steady increase of market valuation [1] Group 1 - The Hong Kong Dividend ETF (159331) tracks the Hong Kong Stock Connect High Dividend Index (930914), which selects 30 securities with continuous dividends, good liquidity, and outstanding dividend yields from the Stock Connect range [1] - The index focuses on traditional high-dividend sectors such as finance, energy, and industrials, reflecting the overall performance characteristics of the high dividend, low valuation segment of the Hong Kong market [1] Group 2 - Since September 2024, the Hong Kong Dividend ETF (159331) has distributed dividends for 13 consecutive months, highlighting its consistent performance [2]

Group 1 - The core viewpoint is that high-dividend strategies are currently a balanced choice in the Hong Kong stock market, with a shift from foreign capital dominance to a more domestic-centric investment logic [1] - The trend of wealth reallocation in China and the increasing influence of southbound capital are driving this transition, making high-dividend assets, particularly quality state-owned enterprises, attractive for their stable earnings and substantial dividends [1] - High-dividend stocks are seen as a "shield" and "ballast" that support the steady rise of market valuation, providing stable cash flow returns and demonstrating strong defensive attributes during market volatility [1] Group 2 - The Hong Kong Dividend ETF (159331) tracks the Hong Kong Stock Connect High Dividend Index (930914), which selects 30 securities with continuous dividends, good liquidity, and high dividend yields from the Stock Connect range [1] - This index focuses on traditional high-dividend sectors such as finance, energy, and industrials, reflecting the overall performance characteristics of the high-dividend, low-valuation segment of the Hong Kong market [1] - Since September 2024, the Hong Kong Dividend ETF (159331) has distributed dividends for 13 consecutive months, highlighting its consistent performance [2]