多头胜利！港股通创新药逆市领涨，520880盘中冲击4%放量连阳！行情向上拐点出现？关注三大线索

Core Viewpoint - The Hong Kong stock market is experiencing a weak consolidation, with the Hang Seng Index slightly down by 0.09%. However, the Hong Kong Stock Connect innovative drug sector has shown resilience, with the Hong Kong Stock Connect Innovative Drug ETF (520880) rising by 2.42% after a brief surge earlier in the day, indicating potential bullish momentum in the sector [1][2]. Market Performance - The Hong Kong Stock Connect Innovative Drug ETF (520880) has successfully rebounded, recovering its 5-day moving average with a trading volume increase of over 65% to 619 million yuan, showcasing strong bullish sentiment [1]. - Since mid-September, the innovative drug sector has been in a downward trend, but recent rebounds suggest a possible turning point, driven by significant capital inflows into key stocks [2][3]. Upcoming Catalysts - The upcoming European Society for Medical Oncology (ESMO) annual meeting on October 17 is expected to be a major catalyst, with the release of clinical data for Chinese innovative drugs likely to attract market attention [3]. - Future performance in the innovative drug sector may depend on several factors, including the disclosure of Q3 earnings reports, the traditional peak season for business development (BD) transactions in October-November, and the national medical insurance negotiations in November [3]. Investment Focus - Analysts suggest that the focus in the innovative drug sector is shifting from broad valuation recovery to the fundamental performance of companies, emphasizing the importance of strong clinical data, commercialization capabilities, and potential for international expansion [3]. - The Hong Kong Stock Connect Innovative Drug ETF (520880) tracks 37 innovative drug companies, with significant gains in major weighted stocks such as Innovent Biologics, CanSino Biologics, and 3SBio [4][5]. Index Performance - The Hang Seng Stock Connect Innovative Drug Select Index has shown higher elasticity and stronger offensive capability compared to similar indices, with a year-to-date increase of 108.14% as of the end of September [6][7].