Beijing Launches Hong Kong Biotech ETF Up 0.27% as BeiGene Expands U.S. Site

Bozhi Hong Kong Biotech ETF (520690) rose as much as 1% intraday and was up 0.27% at 10:30 on July 24, while its benchmark Hang Seng Stock Connect Innovative Drug Select Index edged up 0.09%, according to Jiemian News. The ETF has gained 4.68% over the past two weeks through July 23, with turnover of 80.3444 million yuan and a 15.91% intraday turnover rate. BeiGene said it will add $300 million to expand its flagship manufacturing base and clinical R&D center in Hopewell, west of Princeton, New Jersey, adding small-molecule drug production capacity. Separately, HLBIO said its independently developed EGFRxHER3 bispecific ADC, iza-bren, has enrolled its first patient in a phase III randomized trial for patients with unresectable locally advanced, recurrent or metastatic HR+/HER2- breast cancer who failed endocrine therapy. Jiemian News also cited CICC's view that innovative drug stocks remain a low-valuation growth area outside AI themes, and said the index's latest price-to-book ratio is 3.28 times, below its level for more than 85.55% of the past year.