在港交所的公告中，恒生生物科技指数所在的板块被描述为"当前发展最快、最有活力的一大板块"。公告 还提到，此次期货的推出为投资者提供了精准的风险管理工具，并与港交所现有的生物科技相关产品及旗 舰股票指数衍生产品组合互补。 值得关注的是，在恒生行业类指数中，近年来仅恒生科技指数推出期货，且时间需追溯到五年前（2020年 11月23日），足见其稀缺性。因此，在生物科技产业大发展的今年推出恒生生物科技指数期货，不难觉察 到该指数行业地位的提升，或与港股旗舰指数恒生科技指数能归属到同一重量级。 【恒生生物科技指数（HSBIO）期货交易规则和特征】 10月14日，据港交所官网公告，香港期货交易所有限公司计划于2025年11月28日推出以恒生生物科技指数 为基础的期货合约，有待监管机构批准。据悉，恒生生物科技ETF（513280）跟踪的恒生生物科技指数于 2019年12月16日推出，追踪在香港上市的30家最大生物科技公司。Wind数据显示，截至10月15日，在跟踪 恒生生物科技指数的ETF中，管理费率最低档0.15%/年的恒生生物科技ETF（513280）年内资金净流入断 层领先，年内份额增长率高达24%！ 恒生生物科技E ...

来源：市场资讯 （来源：华夏基金财富家） 港股市场近期表现如何? 近日,港股市场在经历回调之后,目前估值处于历 史中位,与美国、日本、欧洲等全球主要资本市场 进行横向对比,港股的性价比极高,随着美国降息 等影响,港股或迎配置机遇。 相关指数近三个月涨幅 港股通内地 -3.73% 金融指数 港股通央企 0.79% 红利指数 恒生指数 5.12% 恒生生物科技指数 10.08% 恒生科技指数 12.11% 资料来源:Wind,统计区间:2025.7.15-2025.10.14 宏观环境利好港股 红利 在利率下行、权益市场波动等背景下,险资资 产再配置压力增大,底层资产安全、长期收益 稳定的高股息港股或为"压舱石"资产之一。 创新药 政策持续赋能,10月14日,港交所推出恒 生生物科技指数期货,标志着创新药投资从 "高波动赛道"正式升级为"风险可管理的战 略配置赛道"。 随着降息改善流动性、政策优化制度土壤等多方 共振,港股中长期修复动能强劲。 降息周期开启,流动性改善 压 示台 小 元 可 以同属好更高 降息带来市场 港股等新兴市场 的资产 流动性宽松 年度度接受益 政策红利持续释放,制度优化加速 内地政策 国资 ...

10月15日（周三）申购提示 新股方面，超颖电子申购代码732175，发行价17.08元/股，申购上限1.25万股。泰凯英申购代码 920020，发行价7.50元/股，申购上限199.12万股。 投资有风险，申购需谨慎。 重要消息有哪些 1．商务部新闻发言人就美对华造船等行业301调查限制措施落地答记者问。有记者问：美东时间10月14 日，美国依据所谓301调查结果，正式对中国海事、物流和造船领域实施港口费等限制措施，请问中方 对此有何回应？ 答：美方措施是典型单边主义、保护主义行为，严重违反世贸组织规则，违背《中美海运协定》平等互 惠原则，赋予相关国家航运和造船企业不公平竞争优势，构成对中国航运、造船等产业的歧视性做法， 严重损害中国相关产业利益。中方对此强烈不满，坚决反对，已于10月10日宣布将对涉及美国旗、美国 造、美国公司拥有、参股或经营等美国元素的船舶收取特别港务费。 美方措施不仅影响全球供应链稳定、大幅提高国际贸易成本，也会推高美国内通胀，损害美港口竞争力 和就业，影响美自身供应链安全和韧性。美方产业界对此也有很多反对声音，充分显示出美方做法损人 不利己，无益于自身造船业发展。 为进一步维护中国相 ...

Group 1: Monetary Policy and Economic Indicators - The People's Bank of China will conduct a 600 billion yuan reverse repurchase operation on October 15, using a fixed quantity, interest rate bidding, and multiple price levels, with a term of 6 months [1] - The National Bureau of Statistics released the CPI and PPI data for September, indicating ongoing economic trends [1] Group 2: Automotive Industry Performance - In the first nine months of the year, China's automotive industry saw significant growth, with production and sales reaching 24.33 million and 24.36 million units, respectively, marking year-on-year increases of 13.3% and 12.9% [2] - September production and sales exceeded 3 million units for the first time in history, with year-on-year growth rates of 17.1% and 14.9% [2] Group 3: Company Earnings Reports - Xianda Co. expects a net profit of 180 million to 205 million yuan for the first three quarters, a year-on-year increase of 2807.87% to 3211.74% [4] - Shenghe Resources anticipates a net profit of 740 million to 820 million yuan, reflecting a year-on-year growth of 696.82% to 782.96% [4] - JianTou Energy projects a net profit of approximately 1.583 billion yuan, a year-on-year increase of about 231.75% [5] Group 4: Corporate Actions and Developments - Huangting International announced the termination of its major asset sale and debt restructuring plans due to failure to reach consensus on core terms [4][6] - Longbai Group is involved in a lawsuit over technology infringement, with claims amounting to 1.3105 billion yuan [7] - Fenghuang Shipping plans to purchase dry bulk carriers for up to 60 million USD, which constitutes 64.59% of the company's latest audited total assets [7] Group 5: Strategic Initiatives - The Shanghai Municipal Government has launched an action plan for the high-quality development of the smart terminal industry, aiming for a total scale exceeding 300 billion yuan by 2027 [3] - The Hong Kong Stock Exchange plans to launch the Hang Seng Biotechnology Index futures to enhance its derivatives ecosystem [2] Group 6: Mergers and Acquisitions - Shengtun Mining intends to acquire all issued shares of Canadian company Loncor for approximately 261 million CAD (about 190 million USD), focusing on the Adumbi gold mine project in the Democratic Republic of the Congo [8] - Bohai Automotive plans to acquire stakes in several companies, pending shareholder and regulatory approvals [9]

恒生生物科技指数期货即将面世 10月14日，港交所宣布计划推出恒生生物科技指数期货，为当前最有活力的生物科技板块提供有效的对冲工 具，进一步优化并完善衍生产品生态圈。 恒生生物科技指数期货详情如下：代码为HBI，合约乘数每指数点50港元，可交易合约月份为现月、下三个月 及之后三个季月。新产品首六个月的证券及期货事务监察委员会交易征费将可获豁免；产品的按金率将适时公 布。 这只新期货合约将于2025年11月28日开始交易，合约以恒生生物科技指数为基准，聚焦当前发展最快、最有活 力的一大板块，为投资者提供精准的风险管理工具，并与港交所现有的生物科技相关产品及旗舰股票指数衍生 产品组合互补。 2025年11月28日，恒生生物科技指数期货计划推出并开始交易。新产品首六个月的香港证监会交易征费将 获豁免。 今日（10月14日），香港交易及结算所有限公司（简称"港交所"）宣布计划推出恒生生物科技指数期货，进一 步优化其不断拓展的衍生产品生态圈。 香港交易所市场主管余学勤表示，生物科技是现在香港资本市场最炙手可热的前沿行业之一，也是发展最快的 行业之一，新推出的期货合约产品为这个板块提供了有效的风险管理工具。 违法和不良信 ...

Core Viewpoint - Hong Kong Stock Exchange (HKEX) is set to launch the Hang Seng Biotechnology Index Futures on November 28, 2025, aiming to enhance its derivatives product ecosystem and provide investors with effective risk management tools in the rapidly growing biotechnology sector [1][1]. Group 1: Product Launch - The new futures contract will be based on the Hang Seng Biotechnology Index, focusing on one of the fastest-growing and most dynamic sectors [1]. - The launch is contingent upon regulatory approval, indicating a structured approach to introducing new financial products [1]. Group 2: Market Context - The biotechnology industry is currently one of the hottest sectors in the capital markets, driven by technological innovation and significant global healthcare demand [1]. - Since the introduction of the listing regime reform in 2018, the biotechnology and healthcare sectors have become the fastest-growing industries on the Hong Kong capital market, with over 260 biotechnology and healthcare companies listed, totaling a market capitalization of over HKD 4.8 trillion, which is four times the approximately HKD 1.2 trillion at the end of 2018 [1][1].

Group 1 - Hong Kong Stock Exchange plans to launch the Hang Seng Biotechnology Index Futures on November 28, 2023, to enhance its derivatives product ecosystem [1] - The new futures contract will be based on the Hang Seng Biotechnology Index, which tracks the performance of the 30 largest biotechnology, pharmaceutical, and medical device companies listed in Hong Kong [1] - The biotechnology sector has become one of the hottest industries in the capital market, driven by technological innovation and global healthcare demand [1] Group 2 - Since the introduction of Chapter 18A in 2018, which allows unprofitable biotechnology companies to list in Hong Kong, 78 companies have successfully gone public, raising approximately 131.64 billion HKD [2] - The total market capitalization of these 18A companies has reached nearly 1.5 trillion HKD, covering key areas such as antibodies, small molecules, vaccines, and innovative medical devices [2] - Institutional investors' holdings in the top 30 Hong Kong-listed healthcare companies have increased from 13.3 billion USD in 2017 to 43 billion USD by June 30, 2025, with the biotechnology sector particularly favored [2] Group 3 - In the first half of 2025, the healthcare sector in Hong Kong completed 27 refinancing activities, raising a total of 3.9 billion USD, surpassing the total refinancing amounts for 2022, 2023, and 2024 [3] - The Hong Kong stock market has seen significant performance from healthcare stocks, especially 18A companies, with 27 out of 260 healthcare companies experiencing over 200% increase in stock prices this year [3] - Among the top 20 companies with the highest first-day stock price increases in the Hong Kong IPO market this year, 9 are healthcare companies, with 6 of them seeing increases over 100% [3]

Core Insights - Hong Kong Stock Exchange plans to launch the Hang Seng Biotechnology Index Futures on November 28, 2023, to enhance its derivatives ecosystem [1] - The new futures contract will be based on the Hang Seng Biotechnology Index, which tracks the performance of the 30 largest biotechnology, pharmaceutical, and medical device companies listed in Hong Kong [1] - The biotechnology sector has become one of the fastest-growing industries in Hong Kong's capital market since the listing reforms in 2018, with over 260 biotechnology and healthcare companies now listed, totaling a market capitalization of over HKD 4.8 trillion [1][2] Group 1: Market Developments - The introduction of the 18A listing rule in 2018 allowed unprofitable biotechnology companies to list in Hong Kong, marking a significant turning point for the healthcare market [2] - As of October 13, 2023, 78 18A companies have successfully listed, raising approximately HKD 131.64 billion, with a total market capitalization of nearly HKD 1.5 trillion [2] - Institutional investors' holdings in the top 30 healthcare companies in Hong Kong increased from USD 13.3 billion in 2017 to USD 43 billion by June 30, 2025, with the biotechnology sector particularly favored [2] Group 2: Financing and Performance - In the first half of 2025, the healthcare sector completed 27 refinancing activities, raising a total of USD 3.9 billion, surpassing the total refinancing amounts for 2022, 2023, and 2024 [3] - The Hong Kong stock market has seen significant gains in healthcare stocks, especially among 18A companies, with 27 companies experiencing over 200% increase in share price this year [3] - In 2025, 10 healthcare companies went public in Hong Kong, raising USD 2.1 billion, with an average first-day increase of 30.4%, making Hong Kong the leading market for healthcare IPO financing globally [2][3] Group 3: Notable Stock Performances - The top-performing healthcare stocks in Hong Kong have shown remarkable growth, with several companies experiencing increases exceeding 200% year-to-date [4] - Among the top 20 companies with the highest first-day price increases, 9 are healthcare companies, with 6 of them seeing increases over 100% [4][5]

Core Insights - Hong Kong Stock Exchange plans to launch the Hang Seng Biotechnology Index Futures on November 28, 2023, to enhance its derivatives ecosystem [1] - The new futures contract will be based on the Hang Seng Biotechnology Index, which tracks the performance of the 30 largest biotechnology, pharmaceutical, and medical device companies listed in Hong Kong [1] - The biotechnology sector has become one of the hottest industries in the capital market, driven by technological innovation and global healthcare demand [1] Group 1: Market Development - Since the listing reform in 2018, the biotechnology and healthcare sectors have rapidly developed in Hong Kong, with over 260 companies listed, totaling a market capitalization of over HKD 4.8 trillion, up from approximately HKD 1.2 trillion at the end of 2018 [1] - The introduction of Chapter 18A in the listing rules allowed unprofitable biotechnology companies to list, marking a key turning point for the healthcare market [2] - As of October 13, 2023, 78 Chapter 18A companies have successfully listed, raising approximately HKD 131.64 billion, with a total market capitalization of nearly HKD 1.5 trillion [2] Group 2: Investment Trends - Institutional investors have significantly increased their holdings in the top 30 healthcare companies listed in Hong Kong, from USD 13.3 billion in 2017 to USD 43 billion by June 30, 2025 [2] - The biotechnology sector is particularly favored, with institutional investors holding 34% of the sector's market capitalization as of mid-2025 [2] - In the first half of 2025, 10 healthcare companies went public in Hong Kong, raising USD 2.1 billion, with an average first-day increase of 30.4%, making Hong Kong the leading market for healthcare IPO financing globally [2] Group 3: Performance of Healthcare Stocks - The refinancing activities in the healthcare sector have been robust, with 27 refinancing transactions completed in the first half of 2025, totaling USD 3.9 billion, surpassing the total refinancing amounts for 2022, 2023, and 2024 [3] - Among the 260 healthcare companies, 27 have seen their stock prices increase by over 200% this year, with most being Chapter 18A companies [3] - The performance of healthcare stocks in the IPO market has been notable, with 9 out of the top 20 companies by first-day gains being healthcare firms, and 6 of them achieving gains over 100% [4]

10月14日，香港交易所宣布，计划在今年11月28日推出恒生生物科技指数期货，进一步优化其不断拓展的衍生产品 生态圈。 据介绍，这只新期货合约将于2025年11月28日开始交易，合约以恒生生物科技指数为基准（该指数追踪香港上市30家最 大型可供港股通交易的生物科技、药品及医疗设备公司的表现），聚焦当前发展最快、最有活力的一大板块，为投资者提 供精准的风险管理工具，并与香港交易所现有的生物科技相关产品及旗舰股票指数衍生产品组合互补。 香港交易所市场主管余学勤表示："受科技创新和全球医疗保健的巨大需求所推动，生物科技业现在是资本市场中最炙手 可热的前沿行业之一。因此，我们很高兴推出恒生生物科技指数期货，为投资者丰富投资生物科技产业的渠道和提供有效 的对冲工具，支持区内生物科技生态圈的发展。推出这只新期货产品将进一步巩固香港作为亚洲领先的衍生产品交易及风 险管理中心的地位，香港交易所亦会继续推动市场发展，增加市场深度和丰富产品种类，满足全球投资者不断变化的需 求。" 而在今年的港股新股市场，医疗保健公司的表现同样突出。在上市首日涨幅前20名的公司中，有9家是医疗保健公司，其 中更有6家的涨幅是在100%以上。 | ...