Zhitong Financial APP learned that biomedical stocks were among the biggest gainers today, with via Bio (01873) up 12.4% to HK $2.81, Kang Fang Bio-B (09926) up 11.84% to HK $21.45, Tengsheng Bo Medicine-B (02137) up 8.92% to HK $8.91, and Rongchang Bio (09995) up 7.86% to HK $37.75.

China Merchants International Development and Research reported that at this year's ASCO meeting, a total of 11 abstracts related to innovative drugs were selected by Chinese biomedical companies into the oral report section of the conference (5 of which were PD-x products). With the reading of positive data at the 2022 ASCO meeting, the bank noticed a rebound in market sentiment towards China's biomedical industry. The bank pointed out that as the market pays more and more attention to Chinese biomedical companies, the bank continues to be strategically optimistic about the pharmaceutical sub-section.