{EconNews}7 - The AI pharma trio continues to decline, Insilico Intelligence (03696) down 10.6%, at HK$53; XtalPi Holdings (02228) down 12.9%, at HK$7.235; MegaFusion-P (07666) narrowed losses slightly, down 4.8%, at HK$16.85.
Northbound funds resume trading tomorrow. Yesterday, biotech stocks surged, driving the biotech index higher, reaching a recent high of 16,775 points, a premium compared to pre-National Day Golden Week levels. Today, biotech stocks saw significant declines, with the biotech index currently down 2.7% at 16,309.
Additionally, GenScript (01548), which also has AI pharma exposure, is down 13.2% and has broken below its 10-day moving average, trading at HK$42.64. Previously, GenScript's rally was fueled by the announcement that a scientific advisor from its affiliated company, Motic Medical Technology (Shanghai), won a Nobel Prize, pushing its share price to a record high of HK$49.46 yesterday.
Currently, the Hang Seng Index stands at 24,149, down 131 points or 0.5%, with main board turnover exceeding HK$78.3 billion. The Hang Seng China Enterprises Index is at 8,085, down 43 points or 0.5%. The Hang Seng Tech Index is at 4,192, down 31 points or 0.7%. (am)
Northbound funds resume trading tomorrow. Yesterday, biotech stocks surged, driving the biotech index higher, reaching a recent high of 16,775 points, a premium compared to pre-National Day Golden Week levels. Today, biotech stocks saw significant declines, with the biotech index currently down 2.7% at 16,309.
Additionally, GenScript (01548), which also has AI pharma exposure, is down 13.2% and has broken below its 10-day moving average, trading at HK$42.64. Previously, GenScript's rally was fueled by the announcement that a scientific advisor from its affiliated company, Motic Medical Technology (Shanghai), won a Nobel Prize, pushing its share price to a record high of HK$49.46 yesterday.
Currently, the Hang Seng Index stands at 24,149, down 131 points or 0.5%, with main board turnover exceeding HK$78.3 billion. The Hang Seng China Enterprises Index is at 8,085, down 43 points or 0.5%. The Hang Seng Tech Index is at 4,192, down 31 points or 0.7%. (am)
