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Hong Kong Stocks End Week Higher as Tech Counters Rally
Biomedical sector showing strong performance, Pharmaron (03759) rose by 14.97%. Institutions believe there is still room for further increase in sector valuation.
Golden Finance News | The biomedical sector is showing strong performance, with Pharmaron (03759) up 14.97%, Remegen (09995) up 13.59%, Tigermed (03347) up 12.58%, Wuxi Bio (02269) up 11.79%, Wuxi Apptec (02359) up 10.56%, Akeso (09926) up 8.92%. In terms of news, Guoyuan International believes that the main reason for the outperformance of the pharmaceutical sector in this round of large gains is due to the deeper decline in the pharmaceutical sector in the previous period (as of September 23, MSCI China Meheco Group Index has fallen 23% year-to-date), sector.
HK stock abnormal movement | wuxi bio (02269) surged more than 16% in the afternoon, the company responded to rumors of selling business, institutions stated that selling business constitutes a positive catalyst.
wuxi bio (02269) rose more than 16% in the afternoon, as of the time of publication, up 12.33%, at 21.05 Hong Kong dollars, with a turnover of 19.34 billion Hong Kong dollars.
China's assets continue to be popular! Japan's listed 500ETF rose by 115%, while the Hang Seng Index in Hong Kong once approached its recent high point.
What news stimulated the rise of semiconductor and pharmaceutical stocks in the Hong Kong stock market? What is the reason for the strong performance of petroleum stocks?
[Brokerage Focus] Nomura: If the sale of the business is implemented, investors are expected to react more positively towards wuxi apptec compared to wuxi bio.
Kingwu Financial News | Nomura published a research report, according to the report on October 3rd, due to uncertainties related to the "Biosafety Law", wuxi apptec (02359) and wuxi bio (02269) are considering selling part of their business units. The report indicates that wuxi apptec has already put up for sale one of its business units (BU) the gene therapy CTDMO business, while also testing the market's interest in acquiring a production facility in Germany, which was acquired from Bayer in 2021. The bank calculates that wuxi bio's production facility in Germany accounts for 6% of the company's total capacity. The bank believes that if the aforementioned business sales are finalized, investors are expected to respond positively to wuxi bio.
Hong Kong stock market anomaly | CRO concept stocks lead the gains. The US Biological Safety Act is unlikely to be implemented this year, and medical investment and financing are expected to recover rapidly in the rate-cut cycle.
CRO concept stocks performed well in the morning trading session, as of the time of publication, Wuxi AppTec (02359) rose by 7.32% to HKD 64.55; Tigermed (03347) rose by 7.02% to HKD 51.05; Wuxi Bio (02269) rose by 6.72% to HKD 20; Pharmaron (03759) rose by 6.67% to HKD 16.96.
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