Guotai Junan: Compared to A-share dividend assets, Hong Kong dividend assets with higher cost performance may have more potential for additional allocation value.

Guotai Haitong research report states that attention should be paid to Hong Kong stock dividend assets at the beginning of the new year: At the current point in time, compared to A-share dividend assets, Hong Kong stock dividend assets with higher cost performance may have more value for additional allocation. In the short term, the cost performance of Hong Kong stock dividend assets is higher at present, and they are expected to attract additional funds in the fourth quarter. In the short term, dividend assets are expected to have relative returns advantage under market volatility, and the advantage of Hong Kong stock dividend assets over A-share dividend yield-valuation is still prominent. The cost performance of allocating Hong Kong stock dividend assets is still high at present. Approaching the fourth quarter, insurance funds may increase their demand for the dividend assets sector, and with the loosening of overseas liquidity, Hong Kong stock dividend assets with better cost performance are expected to attract additional funds. In the medium to long term, with strengthened dividend supervision policies and long-term funds entering the market in a low interest rate environment, Hong Kong stock dividend assets have allocation value. In the long-term low interest rate era, medium to long-term funds are expected to continue increasing their allocation to Hong Kong stock dividend assets with higher certainty. Deepening trends in dividend distribution of listed companies, the need for asset allocation in a low interest rate environment, policy guidance for medium to long-term funds entering the market, etc., suggest that Hong Kong stock dividend assets with more advantages compared to A-shares have long-term allocation value.