On December 23, the market surged and fell, and the three major indices collectively turned green. Against this backdrop, low-dividend ETFs closed flat, with a rise and fall of 0.00%, a turnover rate of 1.92% throughout the day, and a turnover of 510 million yuan. The capital flow shows that ETFs with low dividends have been favored for a long time. The net capital inflow for the past 5 trading days is 1.15 billion yuan, the net capital inflow for the past 10 trading days is 1.59 billion yuan, and the net capital inflow for the past 60 trading days is 5.9 billion yuan. As of December 22, the amount of funds in circulation was 26.469 billion yuan. Zhongtai Securities believes that in an environment of low interest rates and scarce assets, the value of allocating assets with high dividends and strong cash flow that can provide stable cash returns is becoming more and more prominent. This demand may be further consolidated under the impetus of active entry of medium- and long-term capital such as insurance capital into the market and strengthening balance and liability matching. CICC pointed out that in late December, dividend assets may also highlight defensive value. The dynamic price-earnings ratio of the Shanghai and Shenzhen 300 Index is close to the historical average. The valuation still has plenty of room for expansion compared to previous bull market highs, and the Chinese stock market may not be over yet. Caixin Securities said that the direction of high dividends is sustainable, and institutional funds are continuing to increase dividend assets. It is expected that this strategy will not miss this round of the market. Zhang Yidong of Societe Generale Securities proposed four types of opportunities to focus on in 2026: one is growth and momentum, including the Internet, end-side AI, media, and developments in military technology, energy technology and new consumption driven by the “15th Five-Year Plan”; second, dividend assets, high-interest products such as insurance, banking, and energy have strategic allocation value in a low interest rate environment; third, traditional industry value discovery, focusing on global supply chain restructuring, offshore chains, and profit improvement under the “anti-internal roll” policy; four are strategic assets, such as gold, rare earths, etc. Those that have an important position in the restructuring assets. Low-dividend ETFs are a prudent tool for asset allocation in volatile markets. Investors can participate through fixed investment to smooth out the risk of fluctuations. Investors without stock accounts can also allocate through their OTC linked funds.

On December 23, the market surged and fell, and the three major indices collectively turned green. Against this backdrop, low-dividend ETFs closed flat, with a rise and fall of 0.00%, a turnover rate of 1.92% throughout the day, and a turnover of 510 million yuan. The capital flow shows that ETFs with low dividends have been favored for a long time. The net capital inflow for the past 5 trading days is 1.15 billion yuan, the net capital inflow for the past 10 trading days is 1.59 billion yuan, and the net capital inflow for the past 60 trading days is 5.9 billion yuan. As of December 22, the amount of funds in circulation was 26.469 billion yuan. Zhongtai Securities believes that in an environment of low interest rates and scarce assets, the value of allocating assets with high dividends and strong cash flow that can provide stable cash returns is becoming more and more prominent. This demand may be further consolidated under the impetus of active entry of medium- and long-term capital such as insurance capital into the market and strengthening balance and liability matching. CICC pointed out that in late December, dividend assets may also highlight defensive value. The dynamic price-earnings ratio of the Shanghai and Shenzhen 300 Index is close to the historical average. The valuation still has plenty of room for expansion compared to previous bull market highs, and the Chinese stock market may not be over yet. Caixin Securities said that the direction of high dividends is sustainable, and institutional funds are continuing to increase dividend assets. It is expected that this strategy will not miss this round of the market. Zhang Yidong of Societe Generale Securities proposed four types of opportunities to focus on in 2026: one is growth and momentum, including the Internet, end-side AI, media, and developments in military technology, energy technology and new consumption driven by the “15th Five-Year Plan”; second, dividend assets, high-interest products such as insurance, banking, and energy have strategic allocation value in a low interest rate environment; third, traditional industry value discovery, focusing on global supply chain restructuring, offshore chains, and profit improvement under the “anti-internal roll” policy; four are strategic assets, such as gold, rare earths, etc. Those that have an important position in the restructuring assets. Low-dividend ETFs are a prudent tool for asset allocation in volatile markets. Investors can participate through fixed investment to smooth out the risk of fluctuations. Investors without stock accounts can also allocate through their OTC linked funds.