Core Viewpoint - The Hong Kong stock market is experiencing adjustments, with the Hang Seng Technology Index declining over 1%, while the Hang Seng Biotechnology Index, focused on the innovative drug industry chain, is rising nearly 2% [1] Group 1: Market Performance - The Hang Seng Biotechnology Index, launched in 2019, reflects the overall performance of the biotechnology sector in the Hong Kong stock market, capturing the entire innovative drug industry chain [1] - The largest ETF tracking this index, the Hang Seng Medical ETF (159892), has increased by over 2%, with leading stocks including 3SBio, Innovent Biologics, and I-Mab [1] Group 2: New Financial Instruments - The Hong Kong Stock Exchange announced plans to launch futures for the Hang Seng Biotechnology Index on October 14, 2023, enhancing its derivatives ecosystem [1] - The new futures contract is set to begin trading on November 28, 2025, providing investors with precise risk management tools, making it the only index futures for the pharmaceutical and medical sectors in Hong Kong [1] Group 3: Industry Outlook - According to Founder Securities, the industry is entering a new upward cycle, with overseas orders accelerating and the sector still in its early growth phase, indicating strong upward momentum [1] - The CXO sector, particularly in early research, has significant growth potential, and there are historic opportunities for innovative drugs to expand internationally [1]