The direction of public fund adjustments is gradually becoming clear, with increasing attention on the pharmaceutical and biotechnology sectors.

Public funds are seeking new structural opportunities, with a focus on the pharmaceutical and biotechnology sectors. The latest estimates indicate that the overall equity holdings of public funds have risen to 94.34%, which is at a historically high median level. Meanwhile, signs of portfolio adjustments by public funds are gradually emerging, with active increases in food and beverage, non-bank financials, and banking sectors, while previously popular sectors such as electronics have seen reductions in holdings. Notably, the direction of institutional research has also shifted. From August 3 to 9, public institutions conducted 104 research surveys in the pharmaceutical and biotechnology industry, surpassing the interest previously sustained in the electronics sector.