多空激战！港股通创新药ETF（520880）放量守住10日线

Core Viewpoint - The Hong Kong stock market experienced fluctuations, but the biotechnology sector showed resilience, with leading stocks like BeiGene, Innovent Biologics, and 3SBio rebounding, while the Hong Kong Stock Connect Innovative Drug ETF (520880) demonstrated strong performance despite a slight decline at the end of the trading day [1][3]. Market Performance - The Hong Kong Stock Connect Innovative Drug ETF (520880) saw a net subscription of approximately 86 million yuan yesterday, accumulating over 300 million yuan in the past ten days, indicating strong investor interest in the innovative drug sector [3]. - The ETF opened lower but quickly rebounded, closing down 0.54% while managing to record a positive daily line, suggesting a slight advantage for bullish forces [1][3]. Technical Analysis - The ETF formed a "中" character candlestick, reflecting intense competition between bulls and bears, with a closing bullish line indicating that bullish momentum may be strengthening [1]. - The MACD indicator shows an expanding red bar, further confirming the potential increase in bullish momentum [1]. Fundamental Analysis - The innovative drug sector is experiencing a global rise and commercialization phase, driven by accelerated business development (BD) overseas, a dense pipeline of products, and supportive policies [3]. - According to Dongwu Securities, innovative drugs will remain a key investment theme through 2026, with significant growth expected in international standing, BD expansion, and a shift towards profitability [3]. ETF Characteristics - The Hong Kong Stock Connect Innovative Drug ETF (520880) exclusively tracks innovative drug research companies, excluding CXO firms, ensuring a pure focus on innovation [4]. - The top ten holdings in the ETF account for over 71% of the index, highlighting the dominance of leading innovative drug companies [4][5]. - The ETF has a total market size exceeding 2 billion yuan as of November 3, with an average daily trading volume of 474 million yuan, making it the largest and most liquid ETF tracking this index [5].