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Hong Kong stock market review: Hang Seng Index fell by 0.53%, Hang Seng Tech Index fell by 1.24%, mainland real estate stocks showed a noticeable decline.
Most of the large technology stocks fell, with Kuaishou dropping 11.7% after earnings, marking the weakest performance.
Contract research organizations concept rises, Joinn Laboratories (06127) rises by 5.11%, institutions say CXO sector is expected to benefit from the recovery of overseas research and development demand.
Jinwu Financial News | The concept of contract research organizations has risen across the board, with joinn laboratories (06127) up 5.11%, tigermed (03347) up 4.33%, frontage (01521) up 2%, pharmaron (03759) up 1.84%, and wuxi bio (02269) up 0.79%. Zhongtai reported that the bank believes that as the medical insurance fund prepayment system continues to deepen and improve, and the supporting DRG/DIP system is continuously implemented in various provinces and cities, the long-term "triangle debt" relationship among hospitals, pharmaceutical companies, and medical insurance persists, and the "zero markup policy on pharmaceuticals" compresses hospital profitability.
Trending Industry Today: WUXI APPTEC Leads Losses In CRO Stocks
Zheshang: Innovative drugs and blood products sectors may benefit from slow demand recovery on the demand side.
Zheshang has released research reports stating that the transition of old and new dynamics in the pharmaceutical industry will continue in the future. Areas with innovative drugs, supply-side structural reform, or a good layout (innovative drugs supporting industry chain, large infusion solutions, potent anaesthetics, blood products, pharmaceutical circulation, traditional Chinese medicine OTC) could benefit from the slow recovery on the demand side, potentially showing better growth prospects.
Tigermed (300347.SZ): has repurchased 0.42% of shares accumulated.
On November 5th, Gelonhui announced that as of October 31, 2024, tigermed (300347.SZ) disclosed that the company's special securities account for share repurchase through centralized bidding trading method has repurchased a total of 3,655,200 shares of the company, accounting for 0.4226% of the total share capital of the company and 0.4927% of the total A-share capital of the company. The highest fill price was 55.30 yuan per share, and the lowest fill price was 48.17 yuan per share, with a total fill price of 0.191 billion yuan (excluding trading fees).
Hong Kong stocks are active | CRO concepts generally rise, medical insurance negotiations support innovative drugs, and under the environment of interest rate cuts, global biomedical financing will rebound.
The concept of CRO is generally on the rise. As of the time of publication, Asymchem Laboratories (06821) rose by 4.95%, to HKD 59.4; Tigermed (03347) rose by 4.94%, to HKD 38.25; Wuxi Apptec (02359) rose by 3.88%, to HKD 53.5.
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