Hong Kong Stock Midday Review | Hang Seng Index fell 0.63% in the morning session, CRO concept continues to rise
I'm LongbridgeAI, I can summarize articles.The Hong Kong Hang Seng Index fell 0.63% in the morning session, reporting 25,773 points. The CRO concept continues to rise, with WuXi AppTec's judicial progress benefiting CXO overseas orders, and stocks like Pharmaron and Genscript Bio seeing significant gains. Gold stocks are under pressure and declining, influenced by oil prices and hawkish signals from the Federal Reserve. Some individual stocks, such as Global New Mat, have fallen due to declining performance expectations
According to Zhitong Finance APP, the Hong Kong Hang Seng Index fell by 0.63%, down 163 points, closing at 25,773 points; the Hang Seng Tech Index dropped by 1.27%. The turnover of Hong Kong stocks in the morning session was HKD 115.8 billion.
CRO concept stocks continued to rise. WuXi AppTec made progress in legal matters, which is beneficial for CXO companies to secure new orders overseas. Pharmaron (03759) rose by 9.61%; Genscript Bio (01548) increased by 8.44%; Kelun Pharmaceutical (06821) gained 6%.
Zai Lab (09688) rose over 5%, with Q2 product revenue increasing by 11% quarter-on-quarter, and Citigroup is optimistic about the stabilization of its Chinese business in the second half of the year.
Yiming Anke-B (01541) surged over 13%, as Yiming Kail introduced external commercialization capital for the first time, accelerating the layout of its non-oncology pipeline.
Maiwei Biotechnology-B (02493) rose over 11%, with two formulations of Dexamethasone injection passing the GMP on-site inspection by Brazil's drug regulatory agency.
TianYue Advanced (02631) rose over 4%, leading the silicon carbide industry into the 12-inch era.
Jinshang Machine Tool China (01651) increased over 5%, with electronic and AI liquid cooling accounting for about 40% of new orders.
SanHuan Group (06951) rose over 9%, as the MLCC market experiences a surge in pricing and material procurement, with the industry chain expected to continue benefiting.
Pony.ai-W (02026) rose over 7%, as the company's fourth-generation Robotruck has officially rolled off the production line from SANY Heavy Truck.
Gold stocks were generally under pressure. Rising oil prices intensified inflation concerns, and the Federal Reserve released strong hawkish signals. China Gold International (02099) fell by 2.5%; Zijin Mining (02899) dropped by 3.5%.
GLOBAL NEW MAT (06616) fell over 2.7%, expecting to turn from profit to loss of up to 100 million yuan in the first half of the year, dragged down by asset amortization and expenses