April 24 - Hong Kong stocks opened with the Hang Seng Index and Hang Seng Tech Index initially dipping before turning positive.
Key Market Movements
- CRO concept stocks surged early, with the Hong Kong Innovative Drug ETF (159567) gaining 3.72% by press time and trading volume exceeding HK$166 million.
Top performers:
- Cathay Biotech (+10%)
- RemeGen, Akeso, Innovent Biologics, Ascentage Pharma, CMS Pharma, Junshi Biosciences, and 3SBio also posted significant gains.
Capital Inflows
According to Wind Financial Terminal data:
- The ETF saw net inflows for 7 out of the last 10 trading days, totaling over HK$280 million.
- The ETF tracks the HSCEI Innovative Drug Index (987018), reflecting the performance of biotech firms listed under Stock Connect.
Sector Insights
- Electronics (60 companies) and biopharma (46 companies) dominated recent brokerage research activity.
Analysts highlight opportunities in innovation-driven sectors, especially amid external uncertainties:
- Electronics: Anticipate valuation expansion.
- Biopharma: Focus on innovative drug pipelines.
Institutional Perspectives
SDIC Securities:
- Global and U.S. VC/PE funding for innovative drugs rebounded in 2024.
- Q1 2025 saw 20.57% YoY growth globally (U.S. and China lagged slightly).
Industrial Securities:
- Global demand for breakthrough therapies (e.g., TCEs, bispecific antibodies, ADCs) drives long-term growth.
China’s 3.0-era innovation strategy emphasizes:
- Differentiated R&D
- Supply chain independence
- Domestic demand prioritization
FAQ
Q: What’s driving the CRO stock rally?
A: Strong capital inflows and optimism around biopharma R&D pipelines.
Q: Why invest in innovative drug ETFs?
A: They offer diversified exposure to high-growth biotech firms with global potential.
Q: How reliable are these analyst reports?
A: Independent verification is advised; platform-shared views are non-actionable.
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