Huatai Securities: The Middle East situation disrupts market risk appetite, and dividends still have underlying value

Huatai Securities' research report points out that the rise in global macro uncertainty and the growing demand for domestic residents' asset allocation have brought attention to dividend strategies. Despite the Middle East situation disturbing market risk appetite, dividends still possess underlying value. Huatai Securities optimizes dividend strategies from both stock selection and timing perspectives, constructing a high-dividend industry-neutral portfolio and a free cash flow growth portfolio, while paying attention to environments such as declining risk appetite and rising inflation. Currently, they are bullish on dividends