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 00:12:36

Abstract generation in progress

As of the close, the China Securities Hong Kong Stock Connect Pharmaceutical and Healthcare Composite Index fell 3.4%, the Hang Seng Hong Kong Stock Connect Innovation Drug Index dropped 3.3%, the China Securities Innovation Drug Industry Index declined 2.5%, the China Securities Biotechnology Theme Index decreased 2.4%, and the Shanghai and Shenzhen 300 Pharmaceutical and Healthcare Index fell 2.0%. Despite the trend, funds actively allocated, with the Harvest Innovation Drug ETF (159316) net subscriptions reaching 14 million shares throughout the day.

Open Source Securities pointed out that China’s innovation 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. Over 70% of innovative drug companies achieved positive revenue growth in 2025, indicating the industry is gradually entering a commercialization phase. Currently, the valuation and cost-effectiveness of the pharmaceutical sector are evident, and it is recommended to focus on companies with certain overseas expansion opportunities and clinical data advantages in niche segments.

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