Capital has demonstrated a defensive bias, with 13 high-dividend companies receiving additional share purchases from margin investors in the past month.

In the first eight months of this year, the overall performance of the high dividend sector was not outstanding. However, entering September, the market style has witnessed phased fine-tuning, the overall risk appetite of the A-share market has converged, and funds have started to increase allocation to deterministic assets, which has brought the high dividend sector a phased recovery market. As of September 14, companies in the three sectors of banking, transportation and public utilities in the A-share market have posted a small average increase since the start of this year. Among the three sectors mentioned above, 24 companies have recorded a cumulative increase of more than 30% during the year, and 5 companies including Huadian Liaoneng, Yuneng Holdings and Huadian Energy have seen their cumulative increase exceed 100% in the same period. Since September (comparing the margin trading balance on September 11 with that on August 31), 86 companies in the three sectors have received increased positions from margin traders, among which 37 have seen their position increase rate exceed 5%, and companies such as Topray Solar and Kaitian Gas have obtained position increases of more than 25% from margin traders. Among the 37 companies with a position increase rate of over 5% from margin traders, 13 have the latest dividend yield of no less than 3%, and 6 companies including Wantong Expressway, Guangdong Expressway A and Shandong Expressway have received position increases of more than 10% from margin traders. (Securities Times)