规模最大的恒生医药ETF(159892)涨1.5%冲击三连阳，恒生科技指数ETF(513180)连续19日获资金净申购

Group 1 - The core viewpoint is that the Hong Kong stock market has experienced a third consecutive day of gains, driven by rising expectations of interest rate cuts from the Federal Reserve and a surge in sales of flu medications, which has boosted the biotechnology sector [1] - The Hang Seng Pharmaceutical ETF rose by 1.5%, while Meituan saw a nearly 6% increase, and the Hang Seng Technology Index ETF increased by 1% [1] - The sales of flu medications have been significantly high, and the launch of the Hang Seng Biotechnology Index futures on November 28 is anticipated to further stimulate the sector [1] - The period from November to December is noted as a time of active BD transactions, with results from the 2025 innovative drug national negotiations and the first version of the commercial insurance innovative drug directory expected to be released in early December [1] - Major industry conferences such as ASH (American Society of Hematology) and SABCS (San Antonio Breast Cancer Symposium) are also scheduled for early December [1] - Alibaba's second fiscal quarter revenue exceeded expectations, with strong growth in its AI + cloud and consumer sectors, while it announced the end of the first phase of expansion for Taobao Flash Sale [1] - The innovative drug sector has seen sufficient adjustments in both time and space, with the Hang Seng Pharmaceutical ETF experiencing a cumulative decline of over 15% from September 4 to November 21, leading to a net inflow of 870 million yuan since October 10 [1] - The Hang Seng Technology Index ETF has seen net inflows for 19 consecutive trading days, totaling 5.4 billion yuan [1] Group 2 - The Hang Seng Technology Index ETF increased by 1.07%, with a latest scale of 47.771 billion, making it the largest in its category [2] - The ETF includes core Chinese technology assets such as SMIC (Semiconductor Manufacturing International Corporation), Alibaba, Tencent, Baidu, and smart hardware companies like Xiaomi and Lenovo [2]