资金持续涌入，恒生医药ETF获得连续9日申购

Core Viewpoint - The Hong Kong stock market's innovative drug sector has experienced significant volatility recently due to changes in overseas liquidity expectations, with substantial capital inflow as evidenced by the continuous subscription of the Hang Seng Pharmaceutical ETF (159892) for nine consecutive days, reaching a recent high in fund shares [1] Macro Environment - Recent dovish signals from Federal Reserve officials have boosted expectations for interest rate cuts, which may lead to sustained liquidity improvements in the Hong Kong stock market during the Fed's rate-cutting cycle [1] Industry Outlook - According to Industrial Securities, the current sector's prosperity is sustainable, with the trend of "innovation + internationalization" in the innovative drug industry remaining unchanged. After a short-term adjustment, the elasticity of the innovative drug sector has further increased [1] - Positive trends are observed in the innovative drug industry chain across investment and financing data, orders, and performance metrics [1]