2 1 Shi Ji Jing Ji Bao Dao·2026-01-14 02:16Group 1 - The Hong Kong stock market saw a strong performance in the early session on January 14, with the pharmaceutical sector leading the gains. The Hong Kong Innovative Drug ETF (159567) rose by 2.52%, with trading volume quickly surpassing 300 million yuan [1] - The Hong Kong Innovative Drug ETF (159567) has experienced a rebound since the beginning of 2026, with a cumulative increase of over 11% from January 5 to January 13 [1] - The ETF closely tracks the Guozheng Hong Kong Stock Connect Innovative Drug Index (987018), which reflects the performance characteristics of listed companies in the innovative drug sector within the Hong Kong Stock Connect [1] Group 2 - On January 12, the 44th JPMorgan Global Healthcare Conference officially opened in the United States, attracting significant attention from the biopharmaceutical industry. Several domestic innovative drug companies participated, with seven companies presenting at the main venue [2] - Huatai Securities noted that the liquidity in the Hong Kong innovative drug sector has significantly improved since the beginning of 2026, and the JPMorgan conference has provided a platform for domestic pharmaceutical companies to advance overseas business development (BD) collaborations [2] - The ongoing liquidity recovery is expected to lead to a clear innovative drug beta market, with external demand-driven CXO companies likely to achieve performance that exceeds expectations, resonating with innovative drugs [2]