Insurance funds continue to increase their shareholding in China Mainland Banking. Institutions claim that there is still significant room for valuation recovery in Hong Kong Bank stocks.
According to智通财经APP, the Hang Seng Index in Hong Kong rose by 0.33%, gaining 79 points, and closed at 24,261 points; the Hang Seng TECH Index fell by 0.33%. The turnover in the Hong Kong stock market during the early session was 127 billion Hong Kong dollars.
Insurance funds continue to increase their shareholding in China Mainland Banking stocks, with Institutions stating that there is still considerable room for valuation recovery in Hong Kong banks. China Mainland Banking stocks continue their recent upward trend: MINSHENG BANK (01988) rose by 3.47%; CEB BANK (06818) rose by 1.86%; Industrial And Commercial Bank Of China (01398) rose by 1.68%.
3SBIO (01530) rose over 11% to hit a new high, having previously reached a significant authorization deal with Pfizer worth 707 million, with impressive ASCO data performance.
INNOVENT BIO (01801) rose again by over 3.42%, accumulating more than 120% growth this year, with JPMorgan expecting clinical catalysts to further drive stock performance.
Ying En Bio-B (09606) rose again by 13%, recently disclosing clinical data for DB-1310, with innovative ADC assets attracting attention from international pharmaceutical giants.
CHINA RAREEARTH (00769) rose again by over 17%, having previously surged by 60% on high volume yesterday, which may signal Bullish Signals for rare earth exports.
POP MART (09992) rose by 2.47%, with the stock price continuing to hit new historical highs, and its Labubu gaining popularity worldwide.
Aviation stocks continue their recent upward trend, benefiting from falling oil prices and the appreciation of the renminbi, with Institutions bullish on airline profitability. Air China Limited (00753) rose by 4.5%; China Eastern Airlines (00670) rose by 4.42%; China Southern Airlines (01055) rose by 4.18%; BOC AVIATION (02588) rose by 3.42%.
NEWBORNTOWN (09911) rose over 7%, approaching its historical high, and the company will establish its global headquarters in Hong Kong, with Institutions bullish on the potential for margin improvement.
DEKON AGR (02419) rose by 4.97% to a new high, with the company selling 0.8694 million heads of live pigs in May, and the market is focused on the progress of industry capacity regulation.
SUCCESSUNIVERSE (00487) surged nearly 140% at one point, and Australian Wynn has expressed interest in acquiring the property where the Six Senses Casino is located.
