HU3SBIO@EC2609A

UNI HEALTH

QUANTGROUP

AE LOGISTICS

XUNCE

KINTOR PHARMA-B

XunZhong

ILUVATAR COREX

HP LIVING TECH

NANFANG COMM

ZHAOWEI

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As of noon, the three major indices of the Hong Kong stock market rebounded collectively, with the Hang Seng Index rising 1.56% to 25,804.66 points. The internet content and retail sectors performed strongly, with Tencent Holdings leading the blue chips with a 5.72% increase, and Alibaba rising 3.03%. Although market bullish sentiment has rebounded, the index has not yet confirmed an upward breakout. In the afternoon, attention will be on whether funds can continue to increase and challenge previous highs

- As of midday, Hong Kong's three major indices continued their rebound, with the Hang Seng Index at 25,804.66 points, up 1.56%.  
- The internet content and information sector led gains, driven by positive earnings expectations from major companies like Tencent and Baidu, while the oil and gas exploration sector faced declines amid weakening oil prices.  
- Overall, investor sentiment is influenced by macroeconomic indicators, with a focus on liquidity conditions and the ongoing economic recovery amidst external market uncertainties.

Market Heartbeat

TENCENT

BIDU-SW

BABA-W

3SBIO

HORIZONROBOT-W

CHK OIL

UNITEDENERGY GP

Hang Seng Composite Index

Tencent

Tencent Holdings Limited

Hwabao CSI HK Equities Internet ETF

E Fund CSI HK Connect Internet ETF

Alibaba

Hang Seng Index

Hong Kong Stock Midday Review | Hang Seng Index rises 1.56%, led by the internet sector, Tencent rises 5.72%

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The Hang Seng Index closed up 1.72%, and the Hang Seng Tech Index rose 3.15%. JD LOGISTICS rose over 20%, RemeGen rose over 10%, and 3SBIO rose over 8%. Yangtze Optical Fibre and Cable fell over 7%, and Sinopec Oilfield Service fell over 2%

Wallstreetcn

JD LOGISTICS

REMEGEN

Bosera Hang Seng SCHK Innovative Drug Select ETF

Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF

E Fund Hang Seng SCHK Innovative Drug ETF

GF CSI HK Innovative Drugs Industry ETF(QDII)

RemeGen

Hwabao WP Hang Seng SCHK Innovative Drug Select ETF

The Hang Seng Index closed up 1.72%, with the innovative drug sector leading the gains

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UBS released a research report listing investment ratings and target prices for healthcare stocks. Hengrui Pharma is rated as Buy, with the target price raised from RMB 96.9 to RMB 98.3; Hansoh Pharma is rated as Buy, with the target price raised from RMB 48.2 to RMB 51.5; Sino Biopharmaceutical is rated as Buy, with a target price of RMB 12.2; 3SBIO is rated as Buy, with a target price of RMB 41; CSPC Pharma is rated as Neutral, with the target price raised from RMB 10 to RMB 10.9; Simcere Pharma is rated as Buy, with a target price of RMB 16.3; United Lab is rated as Buy, with a target price of RMB 18.9

AASTOCKS

E Fund CSI Biotechnology Theme ETF

China Merchants CSI Biotechnology Theme ETF

Minsheng Royal CSI Biotechnology Theme ETF

CSPC Innovation

Dacheng CSI All Share Health Care Equipment and Services ETF

Penghua SSE STAR Biology and Medicine ETF

Guotai SSE STAR Brand Name Drug ETF

China Universal CNI HK Connect Innovative Drugs Industry ETF

Ping An CSI HK Equities Medical and Health Integration ETF

E Fund CSI 300 Health Care ETF

ChinaAMC SSE STAR Biology and Medicine ETF

Huaan Hang Seng Biotech ETF

ChinaAMC CSI Biotechnology Theme ETF

Guotai CSI Bio-medicine ETF

China Universal 800 Health Care ETF

ICBCCS SSE STAR Biology and Medicine ETF

HANSOH PHARMA

Founder Fubon CSI Medicine and Medical Device Innovation ETF

SIMCERE PHARMA

UNITED LAB

Penghua CSI HK Connect Health Care Composite ETF

Yinhua CSI Innovative Drugs Industry ETF

Tianhong CNI BIOMEDICINE ETF

CSPC PHARMA

Huatai-PB Hang Seng Innovative Drugs Industry ETF(QDII)

Hengrui Pharma

Hwabao WP CSI Pharmaceuticals ETF

Ping An CSI Medicine and Medical Device Innovation ETF

China Southern Hang Seng Biotech ETF(QDII)

Bosera Hang Seng Health Care ETF(QDII)

SINO BIOPHARM

ChinaAMC Hang Seng Biotechnology Technology ETF(QDII)

ChinaAMC SSE Health Care ETF Initiating Fund

UBS Investment Ratings and Target Prices for Healthcare Stocks (Table)

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Results from a Phase 2 trial reveal promising findings for patients who cannot undergo standard reperfusion therapies. This data was presented at the International Stroke Conference and highlights the efficacy of LT3001 in providing significant functional improvements for patients with disabling Acute Ischemic Stroke (AIS). The trial showcased that LT3001 delivers meaningful outcomes for patients ineligible for standard treatments.

Unusual Whales

Shanghai Pharma

SH PHARMA

Breakthrough trial LT3001 shows functional improvement in patients with acute ischemic stroke, ineligible for standard therapies. Presented at conference.

SINO BIOPHARM (1177.HK) has recently experienced a prolonged period of low price fluctuations, with daily candlesticks showing slight alternation between bullish and bearish trends, and an overall downward shift in focus. In the past few trading days, the stock price has retraced to the vicinity of previous low ranges, with trading volume continuously shrinking and market participants showing strong wait-and-see sentiment. From a technical perspective, the MACD indicator remains in a death cross, with significant green bars, indicating a large divergence between bulls and bears in the short term. 

Fundamentally, the company focuses on its pharmaceutical core business, possessing strong R&D capabilities and product resources. However, it is affected by industry medical insurance cost control, centralized procurement pressures, and a slowdown in sequential performance growth, leading to weakened market confidence. The overall valuation of the Hong Kong pharmaceutical sector is under pressure, with limited inflow momentum from northbound and foreign capital, and a noticeable decline in trading enthusiasm. Meanwhile, the global interest rate hike cycle and the continued weakness of the Hong Kong dollar are also macroeconomic headwinds that have further suppressed risk appetite for capital.

Technically, current support is located in the HKD 3.5-3.8 range, which has historically seen rebounds after multiple touches. However, the sustainability of recent rebounds has been average. If there is a short-term increase in volume and the price stabilizes above HKD 4, it may open a window for a rebound and repair the weak pattern. Conversely, if the price breaks support on low volume, there may be a risk of inertia downward movement. Investors are advised to closely monitor the distribution of main funds and the short-term sector atmosphere, and to avoid blindly entering large positions until technical signals are clear. If a rebound stabilizes alongside unusual movements in incremental funds, light participation in short-term opportunities may be considered, with an overall focus on stability and risk control as a priority

Technical Forecast

Morning Trend | SINO BIOPHARM rebounds from low points, will a rebound window open?

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LUYE PHARMA (2186.HK) has recently seen its stock price continue to decline, temporarily retracing to the previous low point area. The daily death cross signal is clear, and the short-term bearish atmosphere dominates the market. From a technical perspective, major indicators such as MACD and RSI are showing weakness, with the 5-day and 10-day moving averages continuing to decline, and the K-line combination leaning towards bearish, indicating ongoing market selling pressure. 

On the fundamental side, although LUYE PHARMA has launched some new drugs, the industry as a whole has entered a complex phase of stricter policy regulation, price reductions in medical insurance, and high R&D investments, which affects performance improvement in the short term due to various uncertainties. The overall performance of the pharmaceutical sector has seen a recent decline in participation enthusiasm, with major institutions preferring defensive industries or rotating into high-growth areas. 

In terms of sector linkage, the pharmaceutical sector is weak, with noticeable short-term capital outflows. LUYE PHARMA is constrained by the overall atmosphere, facing systemic adjustment pressure brought about by the industry's "collective bearish" sentiment. In the current sensitive range of the retracement phase, both institutions and short-term funds remain highly sensitive, with price fluctuations easily triggering sector resonance. 

For future trends, attention should be paid to whether the support at this low point is effective. If strong support is breached, short-term bearish signals may further strengthen; conversely, if funds provide support and lead to a reversal of indicators, there may be a technical rebound in the short term. Investors should strictly control risks, primarily adopting a wait-and-see approach when the bottom is unclear, and if making tentative layouts, set appropriate stop-loss levels

LUYE PHARMA

Early Morning Trend | LUYE PHARMA retraces to the stage low, can sector linkage change the weakness?

CMB International Securities analyst Jill Wu has reaffirmed a Buy rating on 3SBio (TRSBF) with a price target of HK$37.43, while the shares closed at HK$24.26. The analyst has an average return of 39.6% and a success rate of 59.73%. The consensus for 3SBio is a Strong Buy, with a price target consensus of HK$39.95, indicating a potential upside of 64.66%.

Tip Ranks

CMB International Securities Reaffirms Their Buy Rating on 3SBio (TRSBF)

The research report from China Merchants Bank International indicates that the drug development program 707/PF'4404, a collaboration between Pfizer and 3SBIO, has progressed beyond expectations, with four global Phase 3 clinical studies expected to start in 2026. This drug is anticipated to become a cornerstone of the next generation of tumor immunotherapy, driving up 3SBIO's stock price. Based on increased competition, the target price has slightly decreased to 37.43 yuan, maintaining a "Buy" rating

iShares US Pharma

First Trust NYSE Arca Biotech Index Fd

VanEck Biotech ETF

Invesco Biotechnology & Genome ETF

Invesco Nasdaq Biotechnology ETF

ALPS Medical Breakthrough

VG Health

Ark Genomic Revolution ETF

iShares Biotechnology ETF

Health Care Select Sector SPDR

Pfizer

Proshares Ultra Nasdaq Biotech

SPDR S&P Biotech

CITIC International expects that the release of the value of 707 drugs will drive 3SBIO upward

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36Kr learned that the Hang Seng Index fell 0.1% during the midday break, and the Hang Seng TECH Index dropped 0.4%; the non-ferrous metals, pharmaceutical and biotechnology, and software services sectors led the decline, with Hong Kong Exchanges and Clearing falling over 5%, 3SBIO dropping over 4%, and XUNCE falling over 4%; the energy, durable consumer goods, and building materials sectors strengthened, with WISON ENGRG rising over 7%, POP MART and ARTGO HOLDINGS increasing over 1%; southbound funds net bought HKD 3.955 billion

36Kr

Hang Seng TECH Index

ARTGO HOLDINGS

WISON ENGRG

POP MART

The Hang Seng Index fell 0.1% at midday, and the Hang Seng TECH Index dropped 0.4%

As of the close on January 21, 3SBIO (1530.HK) continued to oscillate downward, with trading volume consistently shrinking during the session. The main funds showed a strong wait-and-see sentiment, and the strength to seize rebounds was limited. The daily MACD death cross pattern continued, with green bars expanding, making it difficult to reverse the weak pattern in the short term. Overall, the dominant market sentiment remains defensive, with most short-term funds choosing to enter and exit quickly, showing a clear lack of willingness to sustain long positions. 

In terms of the industry, the biopharmaceutical sector has recently performed weakly, with the uncertainty of price reductions from centralized procurement and adjustments to the new medical insurance catalog increasing pressure on growth-oriented pharmaceutical companies. 3SBIO has recently lacked new product approvals or significant business developments, and the company's news flow has been bland, leading to a further decrease in market attention. The overall sector is not very hot, and many institutions in the market are taking a wait-and-see approach, with defensive sentiment dominating.

From the market perspective, CNY 23.58 has become a key level of divergence between bulls and bears. A short-term breach could indicate a second bottoming signal. A decline on reduced volume typically indicates that active selling is nearing a temporary completion, but if there is no subsequent volume recovery, the downward inertia will still prevail. In terms of intraday performance, there has been some inflow of funds attempting to seize rebounds, but there is a lack of supporting follow-up buying, raising doubts about sustainability during the session.

In terms of strategy, it is recommended to keep short-term risk exposure at a low level and closely monitor the trends in medical insurance policies and changes in sector funding. Currently, there are no clear reversal signals from either the technical or fundamental perspectives, and right-side trading users should remain cautious and avoid adding positions against the trend. Only significant positive news, such as new drug approvals or a notable recovery in trading volume, is likely to bring about a phase of rebound opportunities

Morning Trend | 3SBIO declines on reduced volume, is the support defense battle about to begin?

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ZhaoYin International published a research report, listing the investment ratings and target prices for pharmaceutical stocks as follows: Stock | Investment Rating | Target Price (HKD) 3SBIO | Buy | 37.58 GUSHENGTANG | Buy | 44.95 Zhongsheng Pharmaceutical | Buy | 9.4 WUXI XDC | Buy | 74

GUSHENGTANG

WUXI XDC

Investment Ratings and Target Prices for Pharmaceutical Stocks by CMB International (Table)

Chinese drug makers achieved a record US$136 billion in out-licensing deals in 2025, more than doubling from US$51.9 billion in 2024. Key agreements included GeneQuantum's US$13 billion deal with Biohaven and AimedBio, and 3SBio's US$6 billion deal with Pfizer. The surge follows regulatory support, with 76 innovative drugs approved in 2025. Analysts predict continued global interest in Chinese drug assets, despite geopolitical tensions affecting US-China biotech collaborations.

SCMP

Chinese drug makers strike a record US$136 billion in out-licensing deals in 2025

China's biotech sector is thriving, with homegrown companies like 3SBio and CSPC Pharmaceutical striking over $123 billion in overseas licensing deals in 2025, a significant increase from $52 billion in 2024. This surge is driven by improved clinical trial data and a return of experienced entrepreneurs. Major multinationals, including Pfizer and AstraZeneca, are increasingly outsourcing trials to Chinese firms. The Hang Seng Biotech Index rose 65% last year, reflecting the sector's growth, despite potential geopolitical challenges. The trend indicates a shift towards valuing innovation from China, not just cost.

- In 2025, Chinese biotech firms, including 3SBio and CSPC Pharmaceutical, significantly increased their licensing deals, surpassing $123 billion, up from $52 billion in 2024.  
- The trend is fueled by experienced entrepreneurs returning to China, improved clinical trial data, and competitive research costs compared to multinational companies.  
- Despite potential geopolitical challenges, the demand for innovative Chinese products continues to grow among global buyers, driven by both quality and affordability.

Reuters

AstraZeneca

BREAKINGVIEWS-Biotech boom shows innovation is now made in China

Hong Kong stocks continued their upward trend on July 28, with the cryptocurrency, innovative drug, gaming, and insurance sectors performing well. Hong Kong's &#34;Stablecoin Ordinance&#34; will officially take effect on August 1, marking the countdown to stablecoin issuance; the innovative drug sector was boosted by Hengrui Pharmaceuticals securing a $12 billion order; insurance stocks extended their gains as industry anti-internal competition and interest rate cuts improved profit prospects; gaming stocks benefited from Macau's July gaming revenue exceeding expectations and Thailand's withdrawal of the casino bill.

HENGRUI PHARMA

INNOVENT BIO

OSL GROUP

CPIC

SUNSHINE INS

SANDS CHINA LTD

Sands China

WYNN MACAU

CR HOLDINGS

CHINA LIFE

China Life

MELCO INT'L DEV

GUOTAI JUNAN I

AIA-R

AIA Group

SJM HOLDINGS

Hot Trades in Hong Kong Stocks (7.28)｜Cryptocurrency, Innovative Drugs, Insurance, and Gaming Sectors Shine, Hengrui Pharmaceuticals Soars 15% at Midday

Hong Kong stocks' innovative medicine sector surges 66%, three-pronged approach ignites the golden track

WUXI APPTEC

WuXi AppTec

WUXI BIO

WuXi Biologics

DUALITYBIO-B

INNOCARE

InnoCare Pharma

AKESO

JOINN

Hong Kong stocks' innovative drugs surge 66%! Three major catalysts ignite the 'golden track', can we still get on board in the second half of the year?

HU3SBIO@EC2609A(26891.HK)

Hong Kong Stock Midday Review | Hang Seng Index rises 1.56%, led by the internet sector, Tencent rises 5.72%

The Hang Seng Index closed up 1.72%, with the innovative drug sector leading the gains

UBS Investment Ratings and Target Prices for Healthcare Stocks (Table)

Breakthrough trial LT3001 shows functional improvement in patients with acute ischemic stroke, ineligible for standard therapies. Presented at conference.

Morning Trend | SINO BIOPHARM rebounds from low points, will a rebound window open?