Today, on the Hong Kong A market, stocks with high dividend concepts collectively surged. As of the close, $CHINA COAL (01898.HK)$Please use your Futubull account to access the feature.$EB ENVIRONMENT (00257.HK)$Please use your Futubull account to access the feature.$CNBM (03323.HK)$ more than a dozen high dividend stocks all rose by over 5%.

Futu News selected stocks listed in both Hong Kong and A-shares with a dividend yield of more than 7%, indicating that these companies have performed well this year.

Among them, $CHINA COAL (01898.HK)$ has already accumulated a more than 60% increase; $CHINA SHENHUA (01088.HK)$Please use your Futubull account to access the feature.$CCB (00939.HK)$ the cumulative increase has also exceeded 40%; $PETROCHINA (00857.HK)$Please use your Futubull account to access the feature.$MINSHENG BANK (01988.HK)$Please use your Futubull account to access the feature.$ICBC (01398.HK)$Please use your Futubull account to access the feature.$SINOPEC CORP (00386.HK)$ All increased by more than 30%. $CEB BANK (06818.HK)$Please use your Futubull account to access the feature.$CZBANK (02016.HK)$ All rose by more than 17%; $YANKUANG ENERGY (01171.HK)$ Up nearly 10%.

In addition, the Hong Kong stock market also has $Bosera Soes High Div Yield Index ETF (03437.HK)$Please use your Futubull account to access the feature.$Ping An of China CSI HK Dividend ETF (03070.HK)$Please use your Futubull account to access the feature.$Global X Hang Seng High Dividend Yield ETF (03110.HK)$Please use your Futubull account to access the feature.$Fubon Hang Seng Shanghai-Shenzhen-Hong Kong (Selected Corporations) High Dividend Yield Index ETF (03190.HK)$ Tracking ETFs with high dividend yields, all four of these ETFs rose by over 3.5% today.

Why are the dividend and high dividend sectors booming?

According to Jinshi data, market views believe that high dividend assets have performed strongly, with three main reasons behind the boom: the introduction of policies, demand for replenishment, and changes in the interest rate environment. These factors combined have driven the strong performance of high dividend assets, and it is expected that this sector still has great potential in the future.

1. 政策支持：消息方面，根据中国人民银行早间公告，决定创设“证券、基金、保险公司互换便利(Securities, Funds and Insurance companies Swap Facility，简称SFISF)”，支持符合条件的证券、基金、保险公司以债券、股票ETF、沪深300成分股等资产为抵押，从人民银行换入国债、央行票据等高等级流动性资产。

2. 补涨需求：在本轮行情中，高股息资产的表现相对滞后。因此，随着其他板块的涨幅已经显著，资金逐渐转向未充分上涨的高股息资产，带来补涨需求，推动相关股票价格的上涨。

3. 利率下行和长线资金的支持：当前市场环境中，利率下行趋势明显，加上长线资金逐步入市，进一步增强了投资者对高股息资产的兴趣。特别是一些龙头红利股的股息率超过5%，在低利率环境下，这一收益水平对长线资金具有较大的吸引力。

国盛证券认为，最新政策将支持高股息公司策略。对于高股息率的公司来说，大股东可以以较低的成本增持股份，从而可能提高分红率，吸引更多追求稳定收益的投资者。

例如，如果一个公司的股息率为4%，大股东可以用2.25%的利率借款两亿元进行增持，分红收入8 million元，扣除4.5 million元的借款利息后，净收入约为3.5 million元。这种利差收益可以长期存在，并且随着股息率的提高而增加，这将鼓励大股东更积极地增持股份和提高分红比率。

值得注意的是，高股息资产主要集中在银行、能源（如煤炭、石油）和公用事业（如电力、水务）等传统行业。由于这些行业的现金流和盈利模式较为稳定，且不易受到经济周期波动的影响，因此它们能够持续为股东提供高额的股息。

How do institutions view the outlook for the future market?

In fact, since 2024, the high dividend sector has been bullish among institutional investors.

Taocan, from Jiān Xìn Fund, mentioned that the high dividend strategy has shown strong appeal in the current economic environment. High dividend stocks typically have stable income and relatively low valuations, making them the preferred choice for investors seeking stable returns and risk avoidance in the market.

The boost in funds is also a key reason for the sharp rise in the high dividend sector. As market capital pays increasing attention to high dividend stocks, more funds have flowed into this sector, driving up prices. Inflows of southbound funds and institutional investors' allocation demands have provided strong financial support to the high dividend sector.

Galaxy Securities stated that a policy turning point may be looming with potential reserve requirement ratio cuts and interest rate reductions taking effect, and deposit rates are expected to be lowered again to stabilize bank interest rate spreads. Continued fiscal efforts are bullish for government investment, leveraging collateral financing demands, supporting short-term credit extensions. Further optimization of real estate policies will boost demand, with policies such as purchase restrictions and adjustments in existing home loan rates being gradually released, accelerating the clearance of commercial housing inventory, improving liquidity for real estate companies, and helping optimize bank asset quality. The relative cost-effectiveness of high dividend assets in the era of low interest rates is worth continuing attention.

Soochow Securities pointed out that under the pressure of an 'asset shortage', absolute return funds are still expected to increase allocation to high dividend assets. Currently, with synchronized downward trends in long and short-term interest rates, absolute return funds represented by insurance asset management are expected to continue to increase allocation to undervalued high dividend sectors. The trading congestion of high dividend assets has not yet peaked, and there is still valuation recovery potential.

GF Securities had previously stated that the high dividend strategy refers to a strategy that focuses on stocks with high dividend yields as investment targets. This is a classic investment strategy that, after being tested through the ups and downs of markets at home and abroad for a century, still exudes enduring charm.

In addition, Futubull owns.Dividend ranking,Dividend Payment Calendar,Dividend Payment RecordThree treasure trove functions for mooers to deploy all in one stop.

Editor/Somer