AKESO(HK:09926) Xin Lang Cai Jing·2025-12-12 06:40Core Viewpoint - The Hong Kong Stock Connect innovative drug sector is experiencing a rebound, with the high-volatility Hong Kong Stock Connect Innovative Drug ETF (520880) rising over 1%, potentially ending a four-day losing streak. Notably, this week has seen a net subscription of over 130 million yuan, indicating increased buying interest [1][6]. Group 1: ETF Performance - The Hong Kong Stock Connect Innovative Drug ETF (520880) has seen a cumulative net subscription of over 130 million yuan this week [1][6]. - As of November 30, the ETF's scale reached 2.142 billion yuan, with an average daily trading volume of 458 million yuan since its listing, making it the largest and most liquid among its peers [10]. Group 2: Sector Dynamics - The leading stock, Kangfang Biologics, surged over 6.8%, while other notable stocks like Innovent Biologics and BeiGene also saw gains of over 2% and 1%, respectively [8]. - Kangfang Biologics has received FDA approval to conduct a Phase III clinical trial for its PD-1/CTLA-4 dual-specific antibody, indicating significant advancements in innovative drug development [3][8]. Group 3: Investment Insights - A report from Ping An Securities suggests that the rise of innovative drugs is sustainable, recommending attention to companies with rich pipelines, high-potential single products, and leading technology platforms [3][8]. - The Hong Kong innovative drug sector has been in a correction phase since early September, enhancing the cost-effectiveness of investments in this area [3][8]. Group 4: Index Characteristics - The underlying index for the ETF, the Hang Seng Stock Connect Innovative Drug Select Index, has a significant concentration of leading stocks, with the top ten holdings accounting for over 72% of the index weight [4][9]. - The index is designed to exclude CXO companies, focusing solely on innovative drug developers, which enhances its purity and comprehensiveness [9].