Huatai Securities: The short-term high dividend yield sector may be under pressure in terms of relative returns, but still has long-term value for allocation.

Huatai Securities research report stated that in June, market risk preferences were restored, and the overall performance of high dividend stocks in major stock indices was relatively average. However, there was clear differentiation in the internal structure, with banks and non-banks performing better within the high dividend category. At the end of June, with the adjustment of the bank sector, investors are concerned about how the high dividend sector will perform after the differentiation. Huatai Securities believes that in the short term, the relative returns of high dividend stocks may enter a period of pressure, but they still have long-term value for allocation.