Hong Kong Stocks Midday Review: Hang Seng Index Rises 0.78% in Morning Session, Hang Seng Biotech Index Hits New High for the Year

Stock News10-06 12:14

The Hang Seng Index climbed 0.78%, up 188 points, to 24,228, according to market data. The Hang Seng Tech Index advanced 0.87%, with morning turnover in Hong Kong reaching HK$54 billion.

Analysts at JPMorgan expressed optimism about Hong Kong's biotech sector and the CXO sub-sector, noting they remain insulated from US interest rate movements. The Hang Seng Biotech Index surged 2.98% to 16,729 points, setting a new high for the year, while the Hang Seng Innovative Drug Index gained 2.6%.

CanSino Biologics Inc (06185) jumped over 11%, Ascletis Pharma Inc-B (01672) rose 8%, Sino Biopharmaceutical Ltd (01177) climbed 4%, and Akeso Inc (09926) gained 3.9%.

Overnight, US AI healthcare leader Tempus AI continued its rally with a 9% surge, driving gains in Hong Kong's AI pharmaceutical stocks. Genscript Biotech Corp (01548) rose 6.88% to a record high, XtalPi Holdings Ltd (02228) gained 4.4%, and Insilico Medicine Inc (03696) added 2.8%.

Junzhi Group (01300) soared over 20% after acquiring Qinghai Zhongli to complete its rod-fiber-cable layout, with promising growth prospects in AI optical fiber. Benmo Technology (06731) rose over 5%, up more than 30% from its IPO price, following a recent strategic partnership with China Rare Earth Science and Innovation.

Chery Automobile (09973) gained nearly 6% as September exports once again exceeded 200,000 units, setting a new record for Chinese automakers. Zhipu (02513) surged over 8% after GLM-5.3 launched on Amazon, opening a revenue-sharing channel for overseas income.

Mainland property stocks led gains, with multiple cities introducing detailed policies under the "828 New Policy." Institutions noted that mortgage subsidies are helping to unlock刚性 housing demand. China Vanke Co Ltd (02202) rose 3%, while Sunac China Holdings Ltd (01918) gained 5%.

Lianyang Intelligent Holdings (01561) skyrocketed over 100% after resuming trading, following a proposed restructuring that brought in new shareholders including the CEO of Shangbentang Integrative Research.

AI hardware stocks pulled back, with CSOP SK Hynix Daily Leverage 2X (07709) dropping over 7%. Optical communication concept stocks also retreated, as Cambridge Technology (06166) fell more than 4%.

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