迎密集催化！港股创新药板块有望迈入新阶段，恒生创新药ETF（520500）连续三个交易日获资金加仓

Group 1 - The innovative drug sector has become a main market trend this year, but has faced fluctuations due to various factors such as ongoing US-China negotiations and a lull in BD transactions since August [1] - The overall risk in the innovative drug sector may have been released, and market expectations have lowered, indicating that the valuation repair phase may be complete [1] - Recent positive catalysts, including the inclusion of innovative drugs in national negotiations, the resurgence of large BD transactions, strong Q3 performance from leading companies, and ongoing R&D pipeline advancements, suggest that the sector may be entering a new development phase [1] Group 2 - The Hang Seng Innovative Drug ETF (520500) has seen net inflows for three consecutive trading days, surpassing 1 billion shares, marking a historical high since its inception [1] - The ETF has recorded significant trading volumes, with daily transaction amounts exceeding 1.6 billion yuan in recent days, indicating increased market activity [1] - The introduction of a "commercial insurance innovative drug directory mechanism" by the National Healthcare Security Administration may provide new payment channels for high-value innovative drugs, facilitating their commercialization [1] Group 3 - The innovative drug sector's adjustment from August to October is viewed as relatively benign, with no negative changes in the industry fundamentals, which continue to develop positively [2] - The current pharmaceutical sector is considered to be at a relatively low level, suggesting strong upward potential in the long term [2] - The Hang Seng Innovative Drug Index, which the ETF closely tracks, includes companies with strong R&D capabilities and potential for growth, with the top five constituents being notable players in the innovative drug industry [2]