Ping An of China CSI HK Dividend ETF (03070.HK) Rises 1.67% Intraday as PBOC Starts Daily Overnight Repo Operations

NewTimeSpace News: As of 9:56 on November 2, the Ping An of China CSI HK Dividend ETF (03070.HK) rose 1.67% to a latest price of HK$43.720. The ETF has traded 123,900 units so far today for a turnover of HK$5.3699 million at an average price of HK$43.340, with a turnover rate of 0.113%. It is up 1.67% so far this week. Its current net asset value per unit is HK$42.9394, and its assets under management stand at HK$4.707 billion.

(Note on scope: the net asset value per unit and assets under management are as of October 30, 2026; the week-to-date change is measured against the closing price of HK$43.000 on October 30.)

On the news front, the People's Bank of China conducted RMB541 billion of overnight reverse repo operations at an interest rate of 1.25% on November 2 and plans to hold overnight reverse repo tenders every working day from that date, resulting in a net drain of RMB515 billion for the day; a PBOC party committee meeting also stressed continued implementation of appropriately loose monetary policy and flexible use of policy tools to keep liquidity ample. The China Securities Regulatory Commission held an expanded party committee meeting, calling for all-out efforts to stabilise the market and expectations and to keep enhancing the resilience and confidence of the capital market. Separately, market reports said a large state-owned bank plans to add RMB100 billion-scale special lending quotas for share buybacks and increases to China Reform Holdings and China Chengtong, and the PBOC was due to convene major banks with the financial regulator and the CSRC that day to study optimising the relending policy for buybacks and share increases. On fundamentals, third-quarter reports from the big state banks showed Industrial and Commercial Bank of China's first-nine-month revenue at RMB667.137 billion, up 9.19%, and net profit at RMB285.640 billion, up 5.83%; China Construction Bank's revenue at RMB623.558 billion, up 11.29%, and net profit at RMB274.226 billion, up 6.55%; and Agricultural Bank of China's revenue at RMB619.505 billion, up 12.48%, and net profit at RMB236.546 billion, up 7.1%. Hong Kong stocks opened slightly higher, with the Hang Seng Index up 0.03% at 23,301.74.

The Ping An of China CSI HK Dividend ETF (03070.HK) closely tracks the CSI Hong Kong Dividend Index. The index screens Hong Kong-listed securities for average daily turnover ranking in the top 50% and no less than HK$50 million over the past year, average daily market capitalisation in the top 50%, and continuous cash dividend yields above zero for three consecutive years; it then selects the 30 securities with the highest average cash dividend yield over the past three years, weighted by adjusted market capitalisation with a 10% cap on any single constituent, and rebalances once a year in December. The fund basically adopts a replication strategy, investing in all constituents in substantially the same weightings as the index.

China Galaxy Securities noted that, as of October 30, dividend yields in the telecommunications, energy, utilities and financials sectors all exceeded 5%, while those in property and construction, conglomerates and consumer staples exceeded 4%, and the yield percentiles for energy, financials, property and construction, conglomerates and industrials sat below the 70th percentile—allocating to these sectors helps investors secure stable returns. It added that the seesaw effect between dividend assets, led by banks, and technology growth stocks is pronounced, and with technology volatility rising, defensive dividend assets continue to serve as the safety cushion for fund allocation.