港股创新药回归，资金顺势加码，恒生创新药ETF（159316）全天净申购达1600万份

Market Overview - The A-share market experienced fluctuations with mixed performance across the three major indices, and the total trading volume exceeded 2.4 trillion, marking a slight increase compared to the previous day, with trading volume surpassing 2 trillion for seven consecutive trading days [1] Index Performance - Major indices such as the CSI A50 and CSI A100 showed relative activity, while smaller indices like the Sci-Tech Innovation 200 and Shanghai Stock Exchange 580 faced declines [1] - The CSI A50 index rose by 0.77%, and the CSI A100 increased by 0.61%, while the Sci-Tech Innovation 200 fell by 1.33% [2] Sector Analysis - The Hong Kong pharmaceutical sector showed a strong recovery, with related indices such as the CSI Hong Kong Stock Connect Innovative Drug Index and the Hang Seng Innovative Drug Index rising over 2% [1] - The Hang Seng Innovative Drug ETF saw a net subscription of 16 million units, indicating high investor interest [1] Investment Outlook - According to China Merchants Securities, there is an optimistic outlook for the Hong Kong market, with improving mid-year earnings and a higher proportion of "new economy" companies compared to A-shares [1] - The recommendation is to focus on sectors that differ from A-shares, suggesting a sequence of investment starting with innovative drugs, followed by the internet sector, and finally new consumption [1]