卫星落，医疗起！港股通医疗ETF华宝（159137）大涨逾8%

Core Viewpoint - The commercial aerospace sector, represented by low-orbit satellites, experienced a significant pullback, while the Hong Kong medical sector showed strong gains, indicating a potential shift in market momentum [1] Group 1: Market Performance - The Hong Kong medical ETF, Huabao (159137), surged over 5%, leading the market in real-time ETF gains, with an intraday increase of over 8% [1] - Since 2026, the Hong Kong medical theme index has risen over 20%, highlighting the recent popularity of "Hong Kong medical" stocks [1] - In 2025, the annual increase of the Hong Kong medical theme index reached 48.20% [1] Group 2: Historical Context - The Hong Kong medical sector has undergone four years of adjustment, with the theme index currently at a historically low point in terms of valuation [1] - As of the end of 2025, the index level has retreated over 65% from its historical peak in 2021, with a TTM price-to-earnings ratio of 29.43, which is below 65% of the historical range since the base date [1] Group 3: Investment Opportunities - The Hong Kong medical ETF, Huabao (159137), tracks the CSI Hong Kong medical theme index, covering four major sectors: CXO, medical commerce and services, medical devices, and biopharmaceuticals [1] - Over 80% of the ETF's weight is concentrated in leading companies within CXO, internet healthcare, and high-end medical devices, with over 85% of the constituents being "Hong Kong exclusive" stocks, including unique offerings like JD Health and Alibaba Health [1]