Hong Kong Stocks End Week Higher as Tech Counters Rally

MT NewswiresOct 4 04:39 ET

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.

Golden Guard Financial NewsOct 4 01:52 ET

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?

cls.cnOct 4 01:25 ET

Trending Stocks Today: SINCEREWATCH HK Shoots up 72.72%

Moomoo NewsOct 4 01:05 ET

[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.

Golden Guard Financial NewsOct 3 23:07 ET

Lyon: wuxi apptec potentially sells CGT business, which constitutes a positive fundamental catalyst.

It is reported that Wuxi Apptec (02359) plans to sell part of its European and American business. According to a report from Lyon, the assets that may be sold include Wuxi Apptec's cell and gene therapy (CGT) (Wuxi Cell&Gene) business. The bank believes that due to the high sensitivity of the CGT business to the U.S. Biotechnology Protection Act and the growth rate in the past few years being lower than expected, selling this business would be a fundamental positive catalyst for Wuxi Apptec. Wuxi Apptec and Tigermed (03347) are the bank's top choices in the Chinese CXO industry.

Sina Hong Kong stocksOct 3 22:40 ET