Stock Track | BeiGene Plunges 8% Amid Hong Kong Market Rout on Stimulus Uncertainty

Stock Track10-14

Shares of BeiGene, a leading biopharmaceutical company based in Beijing, tumbled nearly 8.5% on Monday, mirroring the broader market selloff in Hong Kong amid growing uncertainty over the scale and timing of further economic stimulus measures from Chinese authorities.

The Hang Seng Index, Hong Kong's benchmark, fell 0.75% as investors were left disappointed after China's finance minister, Lan Foan, hinted at significantly increasing debt but failed to provide specific details on the size of the stimulus package during a press conference over the weekend.

BeiGene, along with other pharmaceutical giants like Innovent Biologics and CSPC Pharmaceutical, bore the brunt of the selloff, with their shares plunging around 5% at the close. Investor sentiment was further dampened by data released on Sunday showing a deceleration in consumer inflation and a prolonged decline in producer prices, fueling concerns over the health of the Chinese economy.

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