恒生生物科技ETF（159615）涨1.84%，冲击四连阳！港股行情延续，多数港股ETF早盘上扬！

Group 1 - Hong Kong stocks experienced a significant rise, with all three major indices increasing by over 1% on Tuesday, and a collective increase on Wednesday, driven by gains in technology, gold, and robotics sectors [1] - The Hang Seng Biotechnology ETF (159615) rose by 1.84%, marking a four-day winning streak, with notable individual stocks like CanSino Biologics and Ascentage Pharma increasing by over 9% [1] - Major technology companies including Tencent, Alibaba, and JD Group reported positive growth in revenue and net inflow for Q1, with Alibaba, BYD, and SMIC showing over 100% year-on-year growth in net inflow [1] Group 2 - Guoyuan Securities highlighted that China's innovative pharmaceuticals are entering a phase of realization, with significant R&D progress and resilience against trade war impacts, positioning it as a key investment theme for the pharmaceutical sector in 2025 [2] - The pharmaceutical market in China is undergoing a period of increasing concentration, with mergers and acquisitions expected to accelerate, as the impact of centralized procurement in various segments is clearing [2] - Industrial analyst Zhang Yidong from Industrial Securities anticipates that after the initial phase of tariff impact, Hong Kong stocks will experience a "bottom-up" oscillation, eventually leading to a bullish trend as economic policies take effect [2]