--- title: "HK Midday: HSI up 1.22%; Innovator Drug Stocks Surge, Everest Medicines Soars Nearly 60%" type: "News" locale: "en" url: "https://longbridge.com/en/news/296443375.md" description: "HSI gains 1.22% to 25,807 pts. Innovator drug stocks rally across the board — Everest Medicines skyrockets over 58%, CSPC Pharma up 13%+. Kuaishou tumbles 10%+ post-results. Gold stocks advance as spot gold breaks US$4,500." datetime: "2026-08-20T06:19:59.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296443375.md) - [en](https://longbridge.com/en/news/296443375.md) - [zh-HK](https://longbridge.com/zh-HK/news/296443375.md) generator: "portal-rs" --- # HK Midday: HSI up 1.22%; Innovator Drug Stocks Surge, Everest Medicines Soars Nearly 60% Hong Kong equities extended gains into the afternoon session on August 20, with all three major indexes advancing. As of press time, the Hang Seng Index rose **1.22%**, or 312.22 points, to **25,807.29**; the Hang Seng Tech Index climbed **1.29%** to **4,742.55**; and the HSCEI added **1.43%** to **8,592.33**. Innovator drug stocks erupted in a broad-based rally, gold miners advanced in unison, while tech names traded mixed with Kuaishou slumping over 10% post-results. **Innovator Drug Stocks Erupt; Everest Medicines Rockets Nearly 60%** As of press time, Everest Medicines (01952.HK) soared more than **58%** to **HK$37.72**; CSPC Pharmaceutical Group (01177.HK) surged over **13%** to **HK$5.42**; Sino Biopharmaceutical (01093.HK) jumped nearly **10%** to **HK$9.55**; WuXi Biologics (02269.HK) advanced over **4%** to **HK$50.00**; WuXi AppTec (02359.HK) and BeiGene (06160.HK) each gained about **3%**, with both notching fresh all-time highs. On the catalyst front, a breakthrough in Moderna's mRNA vaccine development lifted global innovator drug sentiment. Several pharmaceutical firms delivered robust interim results, with Sino Biopharmaceutical and CSPC Pharma attracting inflows post-earnings. Everest Medicines' pipeline progress has fueled market optimism around its commercialisation prospects. **Tech Names Mixed; Kuaishou Tumbles Over 10% Post-Results** As of press time, Kuaishou-W (01024.HK) slumped over **10%** to **HK$34.00** on turnover of nearly **HK$6.7 billion**; Alibaba-W (09988.HK) rose nearly **3%** to **HK$127.7**; Baidu-SW (09888.HK) gained over **3%** to **HK$93.05**; JD.com-SW (09618.HK) added about **3%** to **HK$116.1**; Tencent Holdings (00700.HK) edged up nearly **2%** to **HK$455.6**. Kuaishou's earlier earnings release missed market expectations, prompting multiple major banks to slash target prices. The stock's short-selling ratio spiked to as high as **30.9%** during the half-day session. Zhang Zhiwei of Pinpoint Capital warned that Kuaishou shares may not have found a bottom yet. Meanwhile, all eyes are on Alibaba's upcoming results, seen as a key variable for the market's next move. **Gold Miners Advance as Spot Gold Breaks US$4,500** As of press time, Lingbao Gold (03330.HK) surged nearly **8%** to **HK$23.76**; Zijin Mining Group (02899.HK) jumped over **6%** to **HK$37.00**; Chifeng Gold (06693.HK) gained over **5%** to **HK$41.32**. The US Treasury's announcement of expanded long-dated bond buybacks drove Treasury yields lower, sending spot gold past **US$4,500** to a two-month high. Analysts noted that gold has broken out of its consolidation range, with a target zone of US$4,600–4,800 in sight. In other movers, Nine Dragons Paper (02689.HK) issued a positive profit alert forecasting up to a doubling of full-year earnings, yet the stock still tumbled over **12%** to **HK$6.96**, extending its losing streak to four sessions. Bank of East Asia (00023.HK) hiked its interim dividend by **18%**, sending shares up over **4%** to **HK$16.98**. AAC Technologies (02018.HK) posted a **2.9%** rise in half-year profit, but its stock slid over **6%** to **HK$38.96**. ### Related Stocks - [01952.HK](https://longbridge.com/en/quote/01952.HK.md) - [01177.HK](https://longbridge.com/en/quote/01177.HK.md) - [01093.HK](https://longbridge.com/en/quote/01093.HK.md) - [02269.HK](https://longbridge.com/en/quote/02269.HK.md) - [02359.HK](https://longbridge.com/en/quote/02359.HK.md) - [06160.HK](https://longbridge.com/en/quote/06160.HK.md) - [01024.HK](https://longbridge.com/en/quote/01024.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [09888.HK](https://longbridge.com/en/quote/09888.HK.md) - [09618.HK](https://longbridge.com/en/quote/09618.HK.md) - [03330.HK](https://longbridge.com/en/quote/03330.HK.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [06693.HK](https://longbridge.com/en/quote/06693.HK.md) - [02689.HK](https://longbridge.com/en/quote/02689.HK.md) - [02018.HK](https://longbridge.com/en/quote/02018.HK.md) ## Related News & Research - [What's Going On With Baidu Stock Tuesday?](https://longbridge.com/en/news/298325981.md) - [JD.com Insurance Advisory Opens Offline Service Center in Hong Kong](https://longbridge.com/en/news/298126690.md) - [CSPC wins China clinical trial approval for SYH2083 dry eye drops](https://longbridge.com/en/news/298295585.md) - [WuXi Biologics files HKEX next-day disclosure return, issues 1,804,090 new shares](https://longbridge.com/en/news/298215084.md) - [KUAISHOU-W Buys back 455,000 Shares for ~HKD15M](https://longbridge.com/en/news/297979199.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**