On August 2nd, CRO concept stocks had the highest increase in the morning trading. As of press time,$TIGERMED (03347.HK)$they rose by 5.67% and reported 31.7 Hong Kong dollars;$WUXI APPTEC (02359.HK)$they rose by 4.60% and reported 33 Hong Kong dollars;$JOINN (06127.HK)$they rose by 3.85% and reported 7.56 Hong Kong dollars;$PHARMARON (03759.HK)$they rose by 3.80% and reported 9.84 Hong Kong dollars.
On the news front, the Fed stated that it may announce interest rate cuts at its September meeting if progress to combat inflation continues. Some fund managers have stated that the market is trading on expectations of a recent cut in interest rates by the Fed, and that CXO companies' orders come from innovative drug companies. Capital interest rates will determine whether these innovative drug companies can be well financed. Therefore, a rate cut by the market would be very bullish for CXO companies.
In addition, the Shanghai government issued the "Opinions on Supporting the Innovative Development of the Entire Bio-pharmaceutical Industry Chain," covering the entire chain from research and development to payment. Xiangcai Securities pointed out that the publication of these opinions to support the entire chain innovation of the medical and pharmaceutical industry is an important manifestation of support for medical and pharmaceutical innovation; in the future, companies related to breakthroughs in technology such as novel targets, new mechanisms, and new structures in the innovative drug field will have significant development space. We also believe that innovative industry chain CXO companies in the medical service sector will continue to benefit.