港股创新药板块逆势走强，恒生创新药ETF（159316）标的指数“四连阳”

Core Viewpoint - The pharmaceutical industry is experiencing fluctuations, with A-share pharmaceutical sector showing collective low-level volatility, while Hong Kong's pharmaceutical sector is seeing wide fluctuations and slight declines, particularly in the innovative drug sub-sector which is showing strength [1] Group 1: Market Performance - The Hang Seng Hong Kong Stock Connect Innovative Drug Index rose by 0.9%, achieving a "four consecutive days of gains" [1] - The CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index fell by 0.01% [1] - The CSI Biotech Theme Index decreased by 0.6%, while both the CSI Innovative Drug Industry Index and the CSI 300 Pharmaceutical and Health Index dropped by 0.7% [1] Group 2: Industry Insights - According to Citic Securities, Chinese pharmaceutical companies account for approximately 30% of the global business development (BD) transaction volume [1] - The characteristics of innovative drug research and development in China are described as "fast, good, economical," making it a significant source for overseas pharmaceutical companies' product introductions [1] - Domestic pharmaceutical companies are transitioning from being demand-side players in innovative drug projects to becoming providers, with BD income becoming an important source of revenue expansion [1]