罕见大爆发，年内已翻倍

Market Overview - The Hong Kong stock market indices collectively rose on August 29, with the Hang Seng Index increasing by 0.32% to close at 25,077.62 points [1] - The Hang Seng Tech Index rose by 0.54% to 5,674.31 points, while the Hang Seng China Enterprises Index increased by 0.35% to 8,947.79 points [1] - The total market turnover for the day was HKD 335.6 billion, with net inflows from southbound funds amounting to HKD 12.046 billion [1] Sector Performance - Pharmaceutical stocks showed strong rebounds, with Rongchang Biologics rising by 11.53%, WuXi AppTec increasing by 6.52%, and WuXi Biologics up by 6.96% [2] - The semiconductor industry experienced a pullback, with Hua Hong Semiconductor declining by 5.94% [2] Innovation Drug Index - The Hong Kong Innovation Drug Index surged by 4.08% on August 29, with constituent stocks such as Rongchang Biologics and WuXi Biologics seeing significant gains [4] - Year-to-date, the Hang Seng Innovation Drug Index has increased by over 100%, outperforming the broader market and the healthcare sector [3][7] - The National Healthcare Security Administration announced a preliminary review of new drug listings for the 2025 medical insurance and commercial insurance innovation drug catalog, featuring CAR-T products and several unique global products [5] Future Market Outlook - Analysts from Guotai Junan International noted a significant rise of 15.69% in the company's stock price following the announcement of cryptocurrency trading services for Hong Kong investors [9] - Expectations for the Hong Kong stock market include continued inflows from international funds, driven by the anticipated interest rate cuts by the Federal Reserve and the ongoing reforms in the listing system [11] - The market is expected to experience a trend of oscillation upwards in the third quarter, with potential for valuation and earnings recovery in the fourth quarter due to improved liquidity conditions globally [11]