Hong Kong Stocks Movement | CRO Concept Stocks Plunge Collectively: GENSCRIPT BIO (01548) Drops Over 6%, PHARMARON (03759) Falls Over 4%

Stock News11-21

CRO concept stocks experienced a collective decline in Hong Kong trading. As of press time, GENSCRIPT BIO (01548) dropped 6.05% to HKD 14.92, while PHARMARON (03759) fell 4.67% to HKD 20.8. VIVA BIOTECH (01873) declined 4.57% to HKD 1.88, and TIGERMED (03347) slid 3.71% to HKD 36.9.

The market movement followed stronger-than-expected US non-farm payroll data for September released overnight. Post-data, swap contracts continued to reflect shrinking expectations for a Fed rate cut in December.

Analysts note that while overseas CPI data has shown fluctuations in 2024, global markets may gradually enter a rate-cutting cycle. Expectations for improved investment and financing conditions are strengthening, with some companies already seeing order recovery. The sector is anticipated to benefit from valuation recovery opportunities, particularly for overseas CRO/CDMO and domestic preclinical CRO services.

Despite significant impacts from domestic and international investment environments, the CRO sector is expected to gradually recover as domestic policies take effect. Clinical CRO investment opportunities remain a key focus for sustained recovery.

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