Bosera China Reform HK Central-SOEs High Dividend Yield Index ETF (03437.HK) Falls 1.52% Intraday as Banks and Oil Stocks Weaken

NewTimeSpace News: As of 10:09 on November 3, the Bosera China Reform Hong Kong Central-SOEs High Dividend Yield Index ETF (03437.HK) fell 1.52% to a latest price of HK$9.715. The ETF has traded 322,100 units so far today for a turnover of HK$3.1276 million at an average price of HK$9.710, with a turnover rate of 0.347%. It is down 1.22% so far this week. Its current net asset value per unit is HK$9.8697, and its assets under management stand at HK$915 million.

(Note on scope: the net asset value per unit and assets under management are as of November 2, 2026; the week-to-date change is measured against the closing price of HK$9.835 on October 30.)

On the news front, Hong Kong central-SOE dividend assets weakened broadly on November 3, with a peer product—the GF CSI China Reform HK Connect Central-SOEs Dividend ETF (520900)—down as much as 2.01% intraday. The drag came mainly from two heavyweight segments: bank stocks fell in early trade, with Shanghai Bank down more than 4% onshore, ICBC, Bank of China and Bank of Communications down more than 3%, and China Merchants Bank, Postal Savings Bank, China Construction Bank and Agricultural Bank all down more than 2%, while Hong Kong-listed lenders also slipped, with ICBC down 2.32% to HK$7.595 and China Construction Bank 2.07% to HK$9.930; oil stocks were hit by an overnight slump in crude—WTI settled at US$96.46 on November 2, down 7.36%, and Brent at US$104.40, down 7.94%—with CNOOC down 3.83% to HK$23.58 and PetroChina more than 2%. China Mobile, by contrast, slipped just 0.19% to HK$80.10. In a mirror image, Tencent rose 1.73% to HK$399.00 and the Hang Seng Index stood at 23,462.37, up 0.30%, reflecting a seesaw in which technology gained while dividend plays lagged. A day earlier, Hong Kong-listed mainland banks had already reversed early gains to lead declines on November 2, when Southbound funds net sold HK$4.469 billion.

The Bosera China Reform Hong Kong Central-SOEs High Dividend Yield Index ETF (03437.HK) closely tracks the CSI China Reform Hong Kong Connect Central-SOEs High Dividend Yield Index. Customised by China Reform Investment Co., Ltd., the index draws from the Stock Connect universe, requires constituents to be on the SASAC central SOE list and screens for liquidity, consecutive dividends and payout ratios; the top 50 by average dividend yield over the past three years are selected, weighted by dividend-yield-adjusted freefloat market capitalisation with a 10% cap on any single constituent. Only the largest security by average daily market capitalisation over the past year is included from the financials and real estate sectors, while all securities from other sectors are eligible.

Zhongtai Securities noted that the 42 listed banks it covers grew revenue 8.1% and net profit 3.8% year on year in the first three quarters of 2026, both improving at the margin, driven mainly by stable net interest margins and better non-interest income; asset quality was broadly stable, though divergence within the sector widened as some banks stepped up recognition and disposal of bad loans. The brokerage judges that banks' long-term return on equity is relatively certain and dividends are stable and attractive, so "earning the ROE and the dividend" carries high certainty, while in the short term the sector shows a clear seesaw with technology, with pricing set to return to ROE and dividends over the longer run.