创新药关键时点！“抄底”资金加速吸筹，港股通创新药ETF（520880）近两日吸金逾亿元

Core Viewpoint - The Hong Kong stock market's innovative pharmaceutical sector is experiencing a buying surge as investors seek to capitalize on recent price adjustments, with significant net inflows into the Hong Kong Stock Connect Innovative Drug ETF (520880) [1][9]. Group 1: Market Activity - The Hong Kong Stock Connect Innovative Drug ETF (520880) saw over 56 million yuan in net subscriptions over two consecutive days, marking a near one-month high in daily inflow, totaling over 113 million yuan [1][9]. - The index for the ETF has experienced a decline of over 18% since early September, indicating a substantial adjustment period that has released prior high-level risks [3][11]. Group 2: Industry Outlook - Continuous policy support for the pharmaceutical industry's innovation is evident, with the recent release of the 2025 National Medical Insurance Drug List, which added 114 new drugs, including 50 innovative drugs, achieving a historical success rate of 88% [5][13]. - The dual implementation of the medical insurance and commercial insurance drug lists is expected to provide a more stable policy outlook for innovative drugs, benefiting related companies [5][13]. Group 3: ETF Characteristics - The Hong Kong Stock Connect Innovative Drug ETF (520880) is characterized by three unique advantages: it exclusively covers innovative drug companies, has a significant concentration of leading firms with over 72% weight in the top ten stocks, and employs measures to control risks associated with less liquid stocks [5][6][13]. - As of November 30, the ETF had a scale of 2.142 billion yuan and an average daily trading volume of 458 million yuan, making it the largest and most liquid ETF tracking the same index [7][14].