特朗普再挥“关税大棒”，港股通创新药遭错杀？100%创新药研发标的“520880”跌2.5%溢价飙升！

Group 1 - The Hong Kong stock market for innovative pharmaceuticals opened significantly lower, with the Hong Kong Stock Connect Innovative Drug ETF (520880) dropping over 2.5% [1][3] - Out of 37 constituent stocks, 35 experienced declines, with Kelun-Bio falling over 5%, and major stocks like BeiGene, Innovent Biologics, and 3SBio dropping more than 3% [1][3] - The recent announcement by U.S. President Trump regarding a new round of high tariffs on various imported products, including a 100% tariff on pharmaceutical products, has negatively impacted pharmaceutical stocks in Japan and Australia [3][4] Group 2 - Analysts suggest that the tariff policy will mainly affect multinational pharmaceutical companies reliant on the U.S. market and those exporting brand or patented drugs to the U.S. [4] - Chinese pharmaceutical companies are expected to be less affected, particularly innovative drug research firms, as they primarily utilize IP transfer models and have a low export ratio to the U.S. [4] - The significant adjustment in the Hong Kong Stock Connect innovative drug sector may be more influenced by market sentiment, presenting potential buying opportunities for quality innovative drug companies [4][6] Group 3 - The Hong Kong Stock Connect Innovative Drug ETF (520880) has seen a strong inflow of funds, with net subscriptions exceeding 640 million yuan over the past 20 trading days [6] - The fund manager indicated that the innovative drug investment has entered an alpha phase, where stock selection factors are becoming more significant than market trends [6] - The ETF focuses exclusively on innovative drug research companies, excluding CXO firms, and has shown a cumulative increase of 119.75% year-to-date, outperforming other innovative drug indices [6][7]