发展最快、最有活力、牛股频出！瞄准这一板块，港交所推出新指数期货

Core Insights - Hong Kong Stock Exchange plans to launch the Hang Seng Biotechnology Index Futures on November 28, 2023, to enhance its derivatives ecosystem [1] - The new futures contract will be based on the Hang Seng Biotechnology Index, which tracks the performance of the 30 largest biotechnology, pharmaceutical, and medical device companies listed in Hong Kong [1] - The biotechnology sector has become one of the hottest industries in the capital market, driven by technological innovation and global healthcare demand [1] Group 1: Market Development - Since the listing reform in 2018, the biotechnology and healthcare sectors have rapidly developed in Hong Kong, with over 260 companies listed, totaling a market capitalization of over HKD 4.8 trillion, up from approximately HKD 1.2 trillion at the end of 2018 [1] - The introduction of Chapter 18A in the listing rules allowed unprofitable biotechnology companies to list, marking a key turning point for the healthcare market [2] - As of October 13, 2023, 78 Chapter 18A companies have successfully listed, raising approximately HKD 131.64 billion, with a total market capitalization of nearly HKD 1.5 trillion [2] Group 2: Investment Trends - Institutional investors have significantly increased their holdings in the top 30 healthcare companies listed in Hong Kong, from USD 13.3 billion in 2017 to USD 43 billion by June 30, 2025 [2] - The biotechnology sector is particularly favored, with institutional investors holding 34% of the sector's market capitalization as of mid-2025 [2] - In the first half of 2025, 10 healthcare companies went public in Hong Kong, raising USD 2.1 billion, with an average first-day increase of 30.4%, making Hong Kong the leading market for healthcare IPO financing globally [2] Group 3: Performance of Healthcare Stocks - The refinancing activities in the healthcare sector have been robust, with 27 refinancing transactions completed in the first half of 2025, totaling USD 3.9 billion, surpassing the total refinancing amounts for 2022, 2023, and 2024 [3] - Among the 260 healthcare companies, 27 have seen their stock prices increase by over 200% this year, with most being Chapter 18A companies [3] - The performance of healthcare stocks in the IPO market has been notable, with 9 out of the top 20 companies by first-day gains being healthcare firms, and 6 of them achieving gains over 100% [4]