On July 14, the market bottomed out and rebounded. The three major stock indexes collectively turned red. The Shanghai index rose 1.36%, and the GEM index rose 3.43%. Boosted by the market, the low-dividend ETF Huatai Berry rose 1.15% to 1.139 yuan, with a turnover rate of 2.7% and a turnover of 921 million yuan, ranking first among similar target ETFs. Capital flow is upward, and the ETF Huatai Berry with low dividends has been favored by capital for a long time. The net capital inflow for the past 5 trading days was 620 million yuan, the net capital inflow for the past 20 trading days was 1.85 billion yuan, and the net capital inflow for the past 60 trading days was 4.75 billion yuan. As of July 13, 2026, the ETF had a circulation volume of 34.012 billion yuan. Statistics show that as of the end of the first quarter of 2026, insurance funds held a total of 641 A-shares, a net increase of 24 over the end of 2025, and a net increase of about 4.24 billion shares. Bank stocks are a key direction to increase holdings. A number of leading insurers said that they will continue to allocate equity varieties with undervalued values, high dividends, and good long-term profit prospects, respond positively to medium- and long-term capital entry requirements, give full play to the “patient capital” advantage of insurance funds, strengthen absolute return orientation, optimize equity holding structures, and enhance the long-term stability of investment performance under the new accounting standards. Guoxin Securities pointed out that overall, there is a phased rebalancing of A-shares in the short term, but it is unlikely that there will be a style reversal. Looking back, the upward trend of A-shares remains unchanged, and July will be an important observation window. Structurally, technological growth is expected to spread to a low level, focusing on pharmaceuticals, finance, and resource products. GF Securities believes that dividends are assets with strong odds safety pads. The dividend rate rose to about 5.2-5.65% in June, and the level of congestion fell to about -1.5 to -1.1 times the standard deviation, which is extremely different from the congestion level of technology assets. Overseas liquidity will generally peak and tighten in the second half of the year. As a short-term asset, dividends are still less sensitive to rising discount rates. The spread of forward price from silicon-based to carbon-based, and the marginal improvement in profit expectations in dividend-weighted industries are all on the beneficial path of “smooth price spread.” Investors can use the low-dividend ETF Huatai Berry as a base position, and investors without a stock account can also allocate it through its OTC linked fund.

On July 14, the market bottomed out and rebounded. The three major stock indexes collectively turned red. The Shanghai index rose 1.36%, and the GEM index rose 3.43%. Boosted by the market, the low-dividend ETF Huatai Berry rose 1.15% to 1.139 yuan, with a turnover rate of 2.7% and a turnover of 921 million yuan, ranking first among similar target ETFs. Capital flow is upward, and the ETF Huatai Berry with low dividends has been favored by capital for a long time. The net capital inflow for the past 5 trading days was 620 million yuan, the net capital inflow for the past 20 trading days was 1.85 billion yuan, and the net capital inflow for the past 60 trading days was 4.75 billion yuan. As of July 13, 2026, the ETF had a circulation volume of 34.012 billion yuan. Statistics show that as of the end of the first quarter of 2026, insurance funds held a total of 641 A-shares, a net increase of 24 over the end of 2025, and a net increase of about 4.24 billion shares. Bank stocks are a key direction to increase holdings. A number of leading insurers said that they will continue to allocate equity varieties with undervalued values, high dividends, and good long-term profit prospects, respond positively to medium- and long-term capital entry requirements, give full play to the “patient capital” advantage of insurance funds, strengthen absolute return orientation, optimize equity holding structures, and enhance the long-term stability of investment performance under the new accounting standards. Guoxin Securities pointed out that overall, there is a phased rebalancing of A-shares in the short term, but it is unlikely that there will be a style reversal. Looking back, the upward trend of A-shares remains unchanged, and July will be an important observation window. Structurally, technological growth is expected to spread to a low level, focusing on pharmaceuticals, finance, and resource products. GF Securities believes that dividends are assets with strong odds safety pads. The dividend rate rose to about 5.2-5.65% in June, and the level of congestion fell to about -1.5 to -1.1 times the standard deviation, which is extremely different from the congestion level of technology assets. Overseas liquidity will generally peak and tighten in the second half of the year. As a short-term asset, dividends are still less sensitive to rising discount rates. The spread of forward price from silicon-based to carbon-based, and the marginal improvement in profit expectations in dividend-weighted industries are all on the beneficial path of “smooth price spread.” Investors can use the low-dividend ETF Huatai Berry as a base position, and investors without a stock account can also allocate it through its OTC linked fund.