The pharmaceutical sector collectively pulls back, with funds contrarily positioning. The Hong Kong Stock Connect New Drug ETF, E Fund (159316), had a net subscription of 14 million units throughout the day.

2026-03-04 03:18:51

Abstract generation in progress

As of the close, the China Securities Hong Kong Stock Connect Healthcare and Medicine Composite Index fell 3.4%, the Hang Seng Hong Kong Stock Connect Innovative Drug Index declined 3.3%, the China Securities Innovative Drug Industry Index dropped 2.5%, the China Securities Biotechnology Theme Index decreased 2.4%, and the Shanghai and Shenzhen 300 Healthcare Index declined 2.0%. Despite the overall trend, funds actively allocated, with the E Fund Hong Kong Stock Connect Innovative Drug ETF (159316) experiencing a net subscription of 14 million shares throughout the day.

Kaiyuan Securities pointed out that China’s innovative drug license-out transaction volume grew from $2.562 billion in 2017 to $140.274 billion in 2025, with the total reaching 22% of the 2025 figure by early 2026, reflecting increased international competitiveness. In 2025, over 70% of innovative drug companies achieved positive revenue growth, indicating the industry is gradually entering a commercialization phase. Currently, the valuation and cost-effectiveness of the pharmaceutical sector are apparent, and it is recommended to focus on companies with certain overseas expansion opportunities and those with clinical data advantages in niche segments.

Risk warning: Funds are subject to risks; investment should be cautious.

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