Latest news with #WuxiBiologics
BusinessToday
28-06-2025
- Business
- BusinessToday
Hang Seng Ends Slightly Lower As Investors Lock In Gains After Recent Rally
The Hong Kong stock market edged lower on June 27, snapping a multi-day winning streak, as investors opted to take profits following a strong mid-week rally that pushed the Hang Seng Index to its highest level in over three months. The Hang Seng Index slipped 0.2% to close at 24,284, easing from June 25's peak of 24,475, its strongest finish since March. Despite the slight pullback, the index remains up for the week, buoyed by optimism surrounding regional economic resilience and continued demand in technology and financial sectors. Profit-taking emerged across several key sectors, with healthcare and biotech names such as Wuxi Biologics and Innovent Biologics among the notable laggards. Meanwhile, investor caution resurfaced amid renewed scrutiny of global interest rate trends and geopolitical developments. On the upside, Hong Kong's robust IPO pipeline continued to generate interest. According to exchange data, 31 IPOs have raised over HK$88 billion so far in 2025, already outpacing the full-year tally for 2024, underscoring renewed capital market confidence. Market sentiment remains cautiously constructive, supported by expectations that China will roll out further policy support and by speculation that the US Federal Reserve could ease rates later this year, and both factors that have helped lift investor risk appetite in Asia. Looking ahead, market participants will closely monitor upcoming economic data from China and the US, which could shape short-term direction as the Hang Seng consolidates near key resistance levels. Related
South China Morning Post
23-06-2025
- Business
- South China Morning Post
Hong Kong stocks take hit from escalating Iran conflict after US strike, Hormuz threat
Hong Kong stocks retreated on Monday as the US attack on Iran's nuclear facilities escalated the military conflict in the Middle East, weighing on appetite for risk assets and fuelling concerns about disruption of global oil supply. Advertisement The Hang Seng Index fell 0.8 per cent to 23,349.92 as of 10.04am. The Hang Seng Tech Index dropped 0.9 per cent. On the mainland, the CSI 300 Index slid 0.3 per cent, and the Shanghai Composite Index shed 0.1 per cent. Wuxi Biologics slumped 3.3 per cent to HK$23.30, and Techtronic Industries lost 2.9 per cent to HK$82.25. Alibaba Group Holding fell 2.2 per cent to HK$109.20, while Tencent Holdings slipped 1.6 per cent to HK$497. Oil futures surged after US President Donald Trump said air attacks had 'obliterated' the trio of targets in Iran and threatened more military action if Iran did not make peace. Iran threatened to close the Hormuz Strait, which controls one third of the world's oil shipments. Advertisement Higher oil prices raise the risk of global inflation and will complicate the task of the Federal Reserve to curb rising consumer prices. In the rate decision meeting last week, Fed Chair Jerome Powell highlighted the peril of tariff-induced price increases.
South China Morning Post
16-06-2025
- Business
- South China Morning Post
Hong Kong stocks waver on China's mixed economic data; drug companies lead decline
Hong Kong stocks swung between gains and losses after China reported a mixed bag of economic data from May. The Hang Seng Index rose 0.1 per cent to 23,907.52 as of 10.23am local time. The Hang Seng Tech Index gained 0.4 per cent. On the mainland, the CSI 300 Index climbed 0.1 per cent, and the Shanghai Composite Index added 0.2 per cent. Drug companies led the decline. Wuxi Biologics slumped 6.3 per cent to HK$26.30, Sinopharm Group lost 4 per cent to HK$18.44 and Sino Biopharmaceutical retreated 2.7 per cent to HK$5.38. Tempering losses, Chow Tai Fook Jewellery Group jumped 5.4 per cent to HK$13.64 on higher gold prices. China Life Insurance added 2.7 per cent to HK$18.40, and China Merchants Bank gained 2.4 per cent to HK$53.10. Retail sales grew 6.4 per cent last month, the fastest pace since December 2023, the National Bureau of Statistics said on Monday. That exceeded all the estimates of the economists polled by Bloomberg.
South China Morning Post
10-06-2025
- Business
- South China Morning Post
Hong Kong stocks rise on optimism over ongoing US-China trade talks
Hong Kong stocks advanced slightly on Tuesday as traders remained hopeful that ongoing trade talks between mainland China and the US would yield positive results. The Hang Seng Index rose 0.1 per cent to 24,213.42 at 9.55am local time, approaching a level not seen since March 20. The Hang Seng Tech Index fell 0.1 per cent. On the mainland, the CSI 300 Index climbed 0.3 per cent and the Shanghai Composite Index strengthened 0.2 per cent. Aluminium maker China Hongqiao Group rallied 3.7 per cent to HK$15.06 and Wuxi Biologics rose 1.7 per cent to HK$26.45. Chinese property firms traded higher on news that Beijing was tapping its housing provident fund to give buyers an alternative to bank mortgages. China Overseas Land and Investment rose 2.3 per cent to HK$13.62 and Longfor Group Holdings added 3.2 per cent to HK$9.91. Some tech stocks weakened: electric-vehicle maker Li Auto fell 1.8 per cent to HK$117.90, Meituan retreated 1.7 per cent to HK$145.90 and dropped 0.7 per cent to HK$133.10. The first day of trade talks did not yield breakthroughs, but US officials confirmed that discussions would continue on Tuesday, adding that they were optimistic. Traders were expected to keep a close watch on the latest developments centred around shipments of technology and rare earth elements.
South China Morning Post
01-04-2025
- Business
- South China Morning Post
Hong Kong stocks rebound from 4-week low on strong China manufacturing data
Hong Kong stocks rebounded from a four-week low after a private report showed that China's manufacturing industry expanded at the fastest pace in four months, easing some concerns about the reciprocal tariffs to be unveiled by the US. Advertisement The Hang Seng Index rose 0.5 per cent to 23,259.41 as of 10.02am local time. The Hang Seng Tech Index gained 0.7 per cent. On the mainland, the CSI 300 Index climbed 0.2 per cent and the Shanghai Composite Index added 0.4 per cent. CSPC Pharmaceutical Group gained 6.1 per cent to HK$5.24, and Wuxi Biologics advanced 4.3 per cent to HK$28.30. Alibaba Group Holding gained 1.3 per cent to HK$129.60, and Tencent Holdings added 1.1 per cent to HK$502.50. The purchasing managers' index (PMI) compiled by Caixin rose to 51.2 in March, according to a statement released by Caixin and S&P Global on Tuesday. That is the highest reading since November when the gauge reached 51.5. An official PMI report released by the statistics bureau on Monday showed the sector expanded at the fastest pace in a year last month. The readings add to evidence that China's economic recovery is getting under way after a slew of stimulus measures last year. Advertisement Investors are also watching for the reciprocal tariffs that will be announced by US President Donald Trump on Wednesday. His top spokesperson said the announcement would feature 'country-based' tariffs, but added that the president is also 'committed' to implementing sector-based duties at another time.
