医疗硬科技崛起，港股通医疗ETF（159137）上市首周告捷，AI医疗+脑机接口双线发力

Core Viewpoint - The Hong Kong stock market continues to adjust, with the pharmaceutical sector declining alongside the market, particularly affected by a short-term cooling of AI medical concepts [1][12]. Group 1: Market Performance - The Hong Kong Medical ETF Huabao (159137) fell by 0.93%, marking two consecutive days of decline, while the Hong Kong Innovation Drug ETF (520880) dropped by 1.08% [1][12]. - The medical sector saw 13 stocks rise and 37 fall, with Ark Health, a hot stock in AI medical concepts, leading the decline at 6.98%, and Alibaba Health also falling by 5.16% [2][13]. - The Hong Kong Medical Theme Index achieved a record nine consecutive days of gains before experiencing a pullback, with the Huabao ETF having a cumulative increase of 6.9% in its first week, outperforming the Hang Seng Index, which rose by 2.34% [3][14]. Group 2: Sector Analysis - The Huabao Medical ETF covers 50 leading stocks across various medical fields, including CXO, AI medical, medical devices, and innovative drugs, indicating a comprehensive approach to capturing market trends [5][16]. - The medical sector has shown significant recovery since 2026, driven by hot themes like brain-computer interfaces and AI medical, with increasing investment value [6][17]. - The CXO sector is expected to see a recovery in demand, with WuXi AppTec forecasting a net profit of 19.151 billion yuan for 2025, reflecting a year-on-year growth of approximately 102.65% [18]. Group 3: Investment Opportunities - Analysts suggest focusing on innovative overseas expansion and hard technology sectors, such as AI medical and brain-computer interfaces, while monitoring the expansion of medical insurance and essential drug directories [18]. - The Huabao Medical ETF is highlighted as a high-elasticity investment tool for capturing new opportunities in the medical field, particularly in AI medical and innovative drug supply chains [18]. - The largest medical ETF in the A-share market, focusing on medical devices and services, is also noted for its significant weight in AI medical and brain-computer interface concept stocks [18].