$AKESO(09926.HK) dropped over ten percent, $3SBIO(01530.HK) followed closely, and $CSPC PHARMA(01093.HK), $SBP GROUP(01177.HK) both fell by five to six points 😭
Innovative drugs have been a highly crowded main theme in the Hong Kong stock market over the past half year. When the broader market sells off, those that have risen the most are drained first, which has little to do with individual company fundamentals.
The logic behind BD (Business Development) and going global remains unchanged; the pipeline won't disappear just because of a single bearish candlestick. Once the panic selling is done, everyone should get back to what they were doing.
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