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<H Shrs>HSI Drops 331 Pts at Close as Chips/ CN Developers Feeble; CN Biotechs Hike Steadily
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The HSI dropped 331 points or 1.3% to close at 25,434, marking a decline for 2 consecutive trading days. The HSCEI lost 147 points or 1.6% to close at 8,936. The HSTECH shed 107 points or 1.9% to close at 5,554. The market turnover for the day amounted to $210.236 billion. Biotech and pharma prospered against the market trend amid expectations that the US Congress will pass the bill restricting Chinese biotech companies from securing US government-funded contracts. WUXI BIO (02269.HK) climbed 1.9%, making it the best-performing blue chip, while its same series WUXI APPTEC (02359.HK) also gained 1.1%. SINO BIOPHARM (01177.HK) lifted 1.3%, while SIRNAOMICS-B (02257.HK) surged 10.8%. ASCLETIS-B (01672.HK) soared 18% after its GLP-1 drug ASC30 showed positive results in obesity treatment study. US President Donald Trump announced that Nvidia (NVDA.US) is allowed to sell H200 chips to China. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) slumped 4.1% and 5.4% respectively. Data center stock GDS-SW (09698.HK) jumped up 2.4%, while SENSETIME-W (00020.HK) waned 1.4%. AGILE GROUP (03383.HK) tumbled 18.4% at close after being petitioned for winding-up. Other Chinese developers were also pressured, with LONGFOR GROUP (00960.HK) cratering nearly 6%. CHINA RES LAND (01109.HK) and CHINA OVERSEAS (00688.HK) sagged 3.8% and 3.2%, while CHINA VANKE (02202.HK) shrank 3.5%. AAStocks Financial News Website: www.aastocks.com |
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