摘要 1、今天，A股三大指数出现分化，沪指，深成指收涨，创新药板块涨超3%，再迎利好！ 2、 基金交出上半年成绩单，有基金 投向港股 创新药 板块 大赚超80%，还能追吗？ 3、 下半年，基金经理看好这两大方向！如何做好资产配置？ 真话白话说财经，理财不说违心话 --这是第1377 篇白话财经- - 今天，A股午后拉升，沪指、深成指成功收红。 （图片来源：东方财富APP，统计截至2025/7/1，不作投资推荐） 两市成交额1.47万亿，盘面上，创新药板块涨超3%，贵金属、电力等板块涨幅居前。 机构分析指出， A股市场情绪明显提振，风险偏好显著提升，市场活跃度增强，为后续行情积聚上行动能。市场也有望蓄势待发并进一步挑战前期高 点。 创新药再迎利好，有基金狂赚80%！ 今天，创新药板块再度成为A股领头羊，大涨超3%，贵州百灵等多只个股涨停。 从多款创新药集中获批上市，到企业在国际学术舞台展示亮眼临床数据、出海交易金额屡创新高，国家与地方政策持续加码支持，叠加市场需求攀 升、技术进步赋能，创新药产业正加速驶入爆发式增长快车道。 业内人士认为，目前中国创新药进入成果兑现阶段，研发进展催化较多，有望持续作为2025年医 ...

Group 1 - The public fund market in China reached a new high of 33.74 trillion yuan, with a steady overall scale above 32 trillion yuan in the first half of 2025, indicating strong growth in equity funds [1] - Active equity funds, including various types such as ordinary stock funds and mixed funds, showed outstanding performance, with 81.6% of 6,471 products achieving floating profits in the first half of 2025 [2] - The North Exchange market has gained attractiveness, with public institutions increasing their heavy positions to 6.743 billion yuan, a 24.45% increase from the end of 2024 [2] Group 2 - Several high-growth companies on the North Exchange, such as Yizhi Moyu and Xingtou Measurement Control, have seen their stock prices rise over 120% year-to-date, reflecting market confidence in their future growth [3] - The QDII fund, Huatai-PineBridge Hong Kong Advantage Select C, topped the market with an 86% return, heavily investing in Hong Kong pharmaceutical stocks [3] - The innovative pharmaceutical sector is transitioning from a thematic-driven phase to a commercial model realization phase, marking a critical turning point [4] Group 3 - Many top-performing active equity funds in the first half of 2025 were heavily invested in pharmaceutical stocks, with the Longcheng Pharmaceutical Industry Select Fund achieving a 62.26% return [5] - The innovative pharmaceutical industry has become a leading market trend, driven by policy benefits, capital injection, and industrial momentum [5] - The focus for the second half of 2025 should be on high-potential products in the ADC and bispecific antibody sectors, which are leading in licensing transactions [5][6] Group 4 - The active management of innovative pharmaceutical funds is recommended for investors to capture individual stock alpha, while ETFs are suitable for sharing sector beta returns [6] - The Ping An Core Advantage Fund has a nearly 40% allocation to Hong Kong stocks and has seen significant growth since its establishment [6] - The medical fund sector is expected to be the biggest winner in the first half of 2025, with notable rebounds in funds like the China Europe Medical Innovation Fund [6][7]