ETF盘中资讯｜从预期到兑现，港股医药持续修复！港股通创新药ETF（520880）、港股通医疗ETF（159137）携手冲击2%

Core Viewpoint - The Hong Kong pharmaceutical sector is experiencing significant activity, driven by major licensing deals and a shift towards commercialization of innovative drugs, indicating a potential investment opportunity in this space [1][3]. Group 1: Market Activity - Hong Kong pharmaceutical stocks are active, with notable increases in companies like Innovent Biologics, which saw a rise of 7.42% followed by an additional 5% increase, alongside significant gains in other firms such as Zai Lab and CSPC Pharmaceutical [1]. - The Hong Kong Stock Connect Innovative Drug ETF (520880) has shown strong performance, rising over 2% and recovering above the 20-day moving average [1]. Group 2: Licensing Deals - The total transaction scale for China's innovative drug licensing-out reached a record $135.7 billion in 2025, with significant collaborations in January 2026, including deals between CSPC and AstraZeneca ($18.5 billion) and Rongchang and AbbVie ($5.6 billion), highlighting the global value of domestic innovative drug pipelines [1][2]. Group 3: Industry Trends - The innovative drug sector in China is transitioning from "scale accumulation" to "value release," with a focus on commercializing drug pipelines, suggesting a period of performance realization for the industry [3]. - The Hong Kong medical sector is showing strength, with the innovative drug industry chain leading the gains, as evidenced by the performance of the Hong Kong Stock Connect Medical ETF [3]. Group 4: Investment Recommendations - Analysts recommend increasing attention to high-growth and improving expectation sectors within the pharmaceutical industry, as the impact of medical insurance cost control has been fully reflected in market expectations [3][4].