International oil prices have strengthened considerably in recent weeks, with Brent crude averaging $91.60 per barrel in August, a month-on-month gain of approximately 9.5%. On September 9, Brent settled above the $100 mark at $101.21 per barrel, and continued its ascent the following day, climbing 6.34% to reach $107.63 per barrel.

The rally in crude is being fueled by escalating geopolitical tensions in the Middle East, which have disrupted maritime shipping lanes. Vessel transit volumes through the Strait of Hormuz have declined, while risk levels for Red Sea shipping have risen. Market participants are increasingly pricing in the prospect of prolonged constraints on crude supply, pushing the risk premium embedded in oil prices sharply higher.

This upward move in oil transmits to the index through two primary channels: Hong Kong-listed energy majors and Australian oil, gas, and LNG assets. Both pathways are expected to bolster earnings, free cash flow, and dividend payout outlooks for companies within these segments. Key indicators to monitor going forward include whether Strait of Hormuz transit flows can recover to the 8 to 9 million barrels per day range, whether Brent crude can sustain settlements above $100 for two consecutive weeks, and whether Australian energy firms such as Woodside adjust their realized price assumptions or cash flow guidance upward.

The E Fund Asia Pacific High Dividend ETF (03483) stands to benefit from improved profitability across Hong Kong energy majors and Australian oil, gas, and LNG producers. The fund tracks the MSCI Asia Pacific Select High Dividend Yield Index, offering exposure to assets in Hong Kong, Japan, and Australia, with sector coverage spanning energy, materials, banking, and utilities.

Approximately 40% of the portfolio is allocated to Japanese and Australian markets, providing regional and sectoral diversification relative to single-market dividend products. This structure helps smooth market volatility: when oil prices strengthen, investors capture upside from resource-related equities, while during commodity pullbacks, stable cash flow segments鈥攕uch as high-yield Hong Kong stocks, Japanese financials, and Australian banks鈥攕erve as a defensive counterweight.