---
title: "Huatai Securities: The Middle East situation disrupts market risk appetite, and dividends still have underlying value"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/281587480.md"
description: "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"
datetime: "2026-04-03T00:14:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281587480.md)
  - [en](https://longbridge.com/en/news/281587480.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281587480.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/281587480.md) | [English](https://longbridge.com/en/news/281587480.md)


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

On April 3rd, Huatai Securities research report stated that in recent years, with the rise of global macro uncertainty and the growth of domestic residents' asset allocation needs, along with the decline in the central tendency of the overall social broad investment return rate, dividend strategies have increasingly attracted capital attention; currently, the valuation of dividends relative to growth is at a low level, and the situation in the Middle East is disturbing market risk appetite, making dividends still possess bottom-line value. Huatai Securities optimizes the dividend strategy from two aspects: 1) From the stock selection perspective, based on dividend stability, profit quality, and industry neutrality optimization, it constructs a Huatai strategy high-dividend industry-neutral portfolio, and builds a Huatai strategy free cash flow growth and stability portfolio based on free cash flow combined with growth and capital expenditure relative strength factors; 2) From the timing perspective, it focuses on three types of excess return environments under declining risk appetite, rising inflation, and volatile markets, and combines Huatai's quantitative timing model, currently bullish on dividends

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