HSI Ends Up 203 Pts; KUAISHOU-W Dives 11%; mRNA Concept Stocks Swell
AASTOCKS News·- The Hong Kong stock market closed higher on August 20, with the Hang Seng Index up 203 pts or 0.8% at 25,698 and a total turnover of HKD 269.119 billion. - KUAISHOU-W plunged 11.01% as its 2Q adjusted profit slid 30.3% YoY, while SBP GROUP surged 12.53% following a better-than-expected interim profit report. - mRNA concept stocks rallied significantly after Moderna's cancer vaccine breakthrough, driving strong gains in related pharmaceutical firms like EVEREST MED and CANSINOBIO.HSI Up 291 pts; HSTI Up 72 pts; XIAOMI Up over 3%; WUXI BIO, WUXI APPTEC, BEIGENE, OOIL, TINGYI Hit New Highs
AASTOCKS News·- At the midday close, the Hang Seng Index rose 291 points to reach 25,786, while the Hang Seng Tech Index increased by 72 points to 4,754. - Major heavyweights such as XIAOMI, BABA, and TENCENT recorded solid gains alongside broader market movements. - Stocks including WUXI BIO, WUXI APPTEC, BEIGENE, OOIL, and TINGYI hit new highs during the trading session.Kailera Therapeutics: The record-breaking obesity IPO big pharma cannot ignore
MSN·- Kailera Therapeutics trades 29 % below its IPO high while holding $1.17 billion in cash and a $42 analyst consensus price target. - Merck and Novo Nordisk emerge as natural buyers for Kailera's GLP - 1 pipeline due to impending revenue challenges and market defense needs. - Any potential acquirer will secure global rights across the U.S., Europe, and Japan while inheriting significant financial obligations.HSI Up 405 pts; HSTI Up 94 pts; SMIC Up over 7%; WUXI APPTEC, ABLE DIGITAL, SITC Hit New Highs
AASTOCKS News·- At the midday close, the Hang Seng Index rose 405 pts or 1.6% to 25,521, while the Hang Seng Tech Index increased 94 pts or 2.0% to 4,802. - Major tech heavyweights and index constituents recorded solid gains, including SMIC advancing over 7% and Tencent climbing 1.5%. - Stocks such as WUXI APPTEC, ABLE DIGITAL, and SITC hit new highs during the trading session.