Hong Kong Shares End Week in Red; Sunho Biologics Gains in Debut

MT Newswires Live05-24

Hong Kong stocks finished lower on Friday, extending losses seen in previous sessions this week, as rate cut worries continue to dampen investor sentiment.

The Hang Seng Index declined 1.38%, or 259.77 points, to close at 18,608.94. The Hang Seng China Enterprises Index fell 1.44%, or 96.54 points, to 6,605.24.

In corporate news, Sunho Biologics (HKG:2898) made a strong trading debut in Hong Kong on Friday. The clinical-stage biotech firm closed at HK$14.52 per share, up by almost 8% from its IPO price of HK$13.50.

Akesoâs (HKG:9926) shares slumped nearly 23% at closing despite receiving marketing approval in China for its non-small cell lung cancer drug IVONESCIMAB.

Hong Kong-listed shares of China Vanke (HKG:2202, SHE:000002) dropped 9% after the real estate developer said it borrowed 20 billion yuan through a syndicated loan facility.

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