The U.S. government shutdown ends! Gold and innovative drugs rally together, with Hang Seng Medicine ETF and Gold Stock ETF surging over 3%. The CSOP Gold ETF, which has seen 10 consecutive inflows, rose by 1.4%.

Gelonghui, November 13th | The gold and innovative pharmaceutical sectors continued their recent upward momentum today. The Huaxia Gold ETF rose by 1.41%, while the more elastic Gold Stock ETF surged by 3.12%. The Hang Seng Pharmaceutical ETF gained 3.36%, marking two consecutive days of gains. On the news front: ① Overnight spot gold continued to rebound to USD 4,196.54 per ounce, nearing the USD 4,200 mark. The latest reports indicate that U.S. President Trump signed a temporary federal government appropriations bill passed by both chambers of Congress at the White House, ending the longest federal government “shutdown” in history, which had lasted for 43 days. This will alleviate the recent tightness in dollar liquidity, thereby driving a synchronized rise in risk assets and safe-haven assets. ② BeiGene soared over 6% post-earnings to hit a four-year high. Third-quarter revenue reached RMB 10.077 billion, an increase of 41.1% year-on-year; net profits for both the third quarter and the first three quarters turned from losses to gains. In terms of capital flows: with gold resuming its rebound, gold ETFs have regained net inflows. The SGE Gold 9999 Index saw a single-day net inflow of RMB 1.26 billion yesterday, with the Huaxia Gold ETF attracting inflows for 10 consecutive days, totaling RMB 2.015 billion in net inflows over the past 20 days. Despite recent volatility and pullbacks, the innovative pharmaceutical sector still attracted net subscriptions, with the Hang Seng Pharmaceutical ETF registering a total net inflow of RMB 410 million over the past 20 days. A combination of gold on the left hand and technology on the right has become a favored portfolio strategy in the current market: Tools for gold investment include: Huaxia Gold ETF (518850), which tracks the SGE Gold 9999 Index, with a comprehensive fee rate of 0.2%, the lowest among similar products; Gold Stock ETF (159562), which tracks the SSH Gold Stock Index, with components dominated by gold and copper stocks while also including silver stocks, and a comprehensive fee rate of 0.2%. Representative of the global pharmaceutical industry chain: Hang Seng Pharmaceutical ETF (159892), with a latest scale of RMB 6.15 billion, the largest among comparable products. Its top ten weighted stocks include BeiGene, Wuxi Bio, Akeso Biopharma, Sino Biopharm, and 3SBio.