Core Viewpoint - The Hong Kong innovative drug sector is experiencing a significant pullback, with the Hang Seng Hong Kong Stock Connect Innovative Drug Selective Index dropping nearly 4% on August 28, 2023, primarily due to concerns over potential U.S. tariffs on imported drugs [1][3]. Group 1: Market Performance - The Hang Seng Hong Kong Stock Connect Innovative Drug ETF (520880) saw a decline of 3.93% and experienced a significant premium during trading, indicating positive buying sentiment [1]. - The ETF recorded a net inflow of over 25 million yuan in a single day, suggesting active buying interest despite the market downturn [1]. - The index has shown a remarkable year-to-date increase of 101.58%, outperforming the Hang Seng Index and Hang Seng Tech Index by 78.08% and 79.53%, respectively [6]. Group 2: Market Sentiment and Future Outlook - Recent pullbacks in the innovative drug sector may be linked to tariff uncertainties, as U.S. President Trump has reiterated the possibility of imposing tariffs as high as 250% on imported drugs [3]. - Analysts suggest that while short-term market sentiment may fluctuate due to uncertainties, the Chinese pharmaceutical industry is expected to find new growth opportunities in the global market due to its innovative capabilities and supply chain advantages [3]. - The earnings outlook for the innovative drug sector remains positive, with many companies meeting expectations during the recent reporting season, and there are ongoing developments in external licensing transactions [3]. Group 3: Liquidity and Investment Strategy - Recent improvements in liquidity conditions are expected to support a phase of rebound in the Hong Kong stock market, narrowing the gap with the rapidly rising A-share market [4]. - The current earnings forecast rate for the Hong Kong market is at its highest since 2022, indicating a favorable environment for investment [4]. - Investment strategies should focus on sectors with differentiation from A-shares, starting with innovative drugs, followed by the internet sector, and finally new consumption as macroeconomic and profit turning points are awaited [4].
港股通创新药ETF(520880)深度回调4%,关税扰动影响有多大?资金高溢价介入,单日吸金超2500万
Xin Lang Ji Jin·2025-08-28 05:56