HK Stock Connect Daily Report: INNOGEN-B Rises 17.68% as Southbound Net Selling Reaches HK$21.287 Billion - 20261105

I. Market Overview

On November 5, 2026, the three major Hong Kong indices opened higher across the board and traded above the previous close throughout the session, extending gains after a choppy morning and accelerating in the afternoon to close near but slightly below the intraday high, with all three posting sharp gains. The Hang Seng Index closed at 24,796.98, up 3.67%; the Hang Seng TECH Index closed at 4,154.29, up 5.55%; and the Hang Seng China Enterprises Index closed at 8,369.08, up 3.87%. Full-day turnover on the Hang Seng Index reached HKD 356.7 billion, sharply above HKD 236.9 billion a day earlier.

On the board, among Stock Connect constituent stocks, INNOGEN-B rose 17.68%, DRINDA rose 16.58%, KINGDEE INT'L rose 15.38%, BAO PHARMA-B rose 14.75% and KINGSOFT CLOUD rose 12.79%; on the downside, YOFC fell 12.48%, KB LAMINATES fell 12.43%, CCTC fell 10.76%, CREALITY fell 10.42% and ASMPT fell 10.30%. Innovative drug, solar and AI application names led the gains, while optical communication, copper clad laminate, electronic component and semiconductor equipment names lagged. Across the Stock Connect universe, 510 stocks rose, 140 fell and 15 were unchanged.

Southbound capital recorded net selling of HK$21.287 billion on the day, comprising net selling of HK$13.300 billion via Stock Connect (Shanghai) and HK$7.987 billion via Stock Connect (Shenzhen), with the Shanghai leg about 1.7 times the size of the Shenzhen leg.

II. HK Stock Connect Stock Rankings

2.1 HK Stock Connect Stock Gainers and Decliners

Source: Wind, HKEX. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

2.2 HK Stock Connect Active Stocks (ranked by southbound turnover)

Source: Wind, HKEX. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

III. HK Stock Connect-related A-share ETF Rankings

3.1 HK Stock Connect-related A-share ETF Gainers and Decliners

Source: Wind. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

3.2 HK Stock Connect-related A-share ETF Active Rankings (ranked by turnover)

Source: Wind. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

IV. Industry and Corporate Updates

1. Southbound Net Selling Reaches HK$21.287 Billion as Three Broad-Based HK ETFs Sell About HK$13.730 Billion

On November 5, southbound capital recorded net selling of HK$21.287 billion, comprising net selling of HK$13.300 billion via Stock Connect (Shanghai) and HK$7.987 billion via Stock Connect (Shenzhen), with the Shanghai leg about 1.7 times the size of the Shenzhen leg. Broad-based ETFs were the main source of selling: the Tracker Fund of Hong Kong (02800.HK) recorded HK$12 million of buying against HK$7.677 billion of selling for a net outflow of HK$7.665 billion, the CSOP Hang Seng TECH Index ETF (03033.HK) saw HK$4.392 billion of net selling and the Hang Seng China Enterprises Index ETF (02828.HK) HK$1.673 billion, with the three together accounting for about HK$13.730 billion, roughly 65% of the day's total. Large platform names were also sold: XIAOMI-W (01810.HK) saw HK$3.168 billion of net selling, TENCENT (00700.HK) HK$2.549 billion, BABA-W (09988.HK) HK$838 million and MEITUAN-W (03690.HK) HK$804 million. On the buy side, KB LAMINATES (01888.HK) led with HK$774 million of net buying, followed by YOFC (06869.HK) at HK$499 million and SMIC (00981.HK) at HK$262 million.

2. SBP GROUP Signs Licensing Deal with Boehringer Ingelheim Worth up to USD 7 Billion

On the evening of November 4, SBP GROUP (01177.HK) announced a strategic option and licence agreement with Boehringer Ingelheim to jointly advance next-generation oncology therapies based on antibody-drug conjugates (ADC) and T-cell engagers (TCE), covering six preclinical innovative drug programmes, five of which come from LaNova Medicines, acquired by the company in 2025, and one from Beijing Tide Pharmaceutical. Under the agreement, the company will receive USD 358 million in upfront and near-term payments and is eligible for option exercise payments plus development, regulatory and commercial milestone payments totalling up to USD 7 billion, along with tiered royalties in the high single digits to low teens on future sales. The deal is the company's third with a multinational pharmaceutical company in 2026 and its fifth out-licensing transaction overall, setting a record for the company. SBP GROUP will lead early development through completion of global Phase I trials, after which Boehringer Ingelheim may exercise its option upon agreed clinical milestones.

3. Optical Communication and Copper Clad Laminate Chain Pulls Back as YOFC Falls 12.48%

On November 5, Hong Kong optical communication, copper clad laminate and semiconductor equipment names retreated together. YOFC (06869.HK) fell 12.48% to HK$96.10 on turnover of HK$5.472 billion; KB LAMINATES (01888.HK) fell 12.43% to HK$32.68 on HK$4.961 billion of turnover; CCTC (06951.HK) fell 10.76%, CREALITY (03388.HK) fell 10.42% and ASMPT (00522.HK) fell 10.30%. Most of these names had risen in the previous session, and YOFC and KB LAMINATES still attracted HK$499 million and HK$774 million of southbound net buying respectively on the day.

4. Innovative Drug and Biotech Names Advance as INNOGEN-B Jumps 17.68% to Top the Gainers

On November 5, Hong Kong innovative drug and biotech names extended their rally. INNOGEN-B (02591.HK) rose 17.68% to HK$3.76 on turnover of HK$161 million, topping the Stock Connect gainers; BAO PHARMA-B (02659.HK) rose 14.75% to HK$9.26. Among ETFs, the China Universal CNI HK Equities Innovative Drugs ETF (159570) rose 4.92% on RMB 2.509 billion of turnover; the GF CSI HK Innovative Drugs Industry ETF(QDII) (513120) rose 3.87% on RMB 10.449 billion, ranking second by turnover; and the Huatai-PB Hang Seng Innovative Drugs ETF (520500) rose 4.54%. At the sector level, SBP GROUP (01177.HK) opened more than 4% higher, with the Boehringer Ingelheim licensing deal the main catalyst.

5. China-Korea Semiconductor ETF Tops Turnover at RMB 18.256 Billion as the Hwabao HK Internet ETF Leads Gainers with 7.86%

On November 5, turnover and performance among Stock Connect-related ETFs diverged widely. The Huatai-PB China Securities Han Stock Exchange China Korea Semiconductor ETF(QDII) (513310) fell 3.44% on RMB 18.256 billion of turnover and a turnover rate of 177.40%, topping the turnover list; the GF CSI HK Innovative Drugs Industry ETF(QDII) (513120) ranked second at RMB 10.449 billion; the E Fund CSI Overseas China Internet 50 ETF (513050) rose 7.08% on RMB 4.603 billion; and the ChinaAMC Hang Seng Internet Technology Industry ETF(QDII) (513330) rose 6.48% on RMB 4.424 billion. On the gainer side, the Hwabao CSI HK Equities Internet ETF (513770) rose 7.86%, the Bosera CSI HK Equities Internet ETF (159568) rose 7.64% and the ICBCCS CSI HK Equities Internet ETF (159179) rose 7.53%, with Hong Kong internet theme products taking all of the top five places. On the decliner side, the Fullgoal S&P Oil & Gas Exploration and Production Selected Industry ETF(QDII) (513350) fell 6.83%, the Harvest product (159518) fell 6.67% and the ChinaAMC Nomura NKY ETF(QDII) (513520) fell 1.95%.