The Zhitong Finance App learned that Hong Kong stocks fluctuated and declined. At the close, the Hang Seng Index fell 0.19% to 29166.38 points; the State-owned Enterprises Index rose 0.1% to 11531.73 points; and the Red Chip Index rose 0.52% to 4300.49 points. Market turnover was HK$106.462 billion.
The Shanghai-Hong Kong Stock Connect went southbound with a quota of 10.5 billion yuan, leaving a balance of 9.42 billion yuan, with an inflow of 1.08 billion yuan. The Shenzhen-Hong Kong Stock Connect went southbound with a quota of 10.5 billion yuan, leaving a balance of 9.713 billion yuan, with an inflow of 787 million yuan.
In terms of sectors, the top three increases were biotechnology, alcoholic beverages, and healthcare, which rose 8.85%, 4.7%, and 2.82% respectively; the top three declines were livestock feed, semiconductors, and computer equipment, which fell 3.05%, 2.67%, and 2.07% respectively.
Blue chip stocks rose. The top three gains were China Resources Beer (00291), Li & Fung (00494), and Sun Hung Kai Properties (00016), which rose 3.97%, 3.29%, and 3.24% respectively.
In terms of individual stocks, the top three gains were Jiayu Group (00186), Global Industrial Technology (01026), and BBI Life Sciences (01035), which rose 35%, 29.03%, and 19.11% respectively; the top three declines were China Jinshi (01380), China Shenghai Foods (01676), and Datang Environment (01272), which fell 10.26%, 9.09%, and 8.33% respectively.
The top three gains in the Hong Kong stock market were Beikong Clean Energy (01250), China Longgong (03339), and Shisiyao Group (02005), which rose 7.44%, 5.67%, and 5.48% respectively; the top three declines were Baosheng International (03813), Nexteer (01316), and Huayi Tencent Entertainment (00419), which fell 4.5%, 4.31%, and 4.29% respectively.
The popular stock, Pharmaceutical Ming Biotech (02269) rose 2.76% throughout the day at a price of HK$42.75. One of the controlling shareholders, WuXi Biologics Holdings Limited, plans to sell 126 million shares of the company to independent third parties at HK$40.25 per share, equivalent to 10.83% of the company's issued share capital. The recipient, Biologics Holdings, has promised to ban sales for 6 months. The placement price is 3.25% off the company's closing price of HK$41.6 yesterday. Biologics Holdings will cash out HK$5071.5 million. Placed shares will be listed during the bidding session this morning.
Kingsley Biotechnology (01548) rose 12.72% throughout the day and was priced at HK$14.18. Recently, the Chinese clinical application for CAR-T cell technology (CXSL1700201) for the treatment of multiple myeloma submitted by Nanjing Legend Biotechnology Co., Ltd., a subsidiary of Kingsley Biotechnology, was officially accepted by the Drug Evaluation Center of the China Food and Drug Administration. J.P. Morgan expects that, as demand for biotech drug development increases, Kingsley Biotech will achieve strong revenue growth in the second half of the year and next year, with regular profit growth of more than 50% next year.
Market analysis shows that the Federal Reserve raised interest rates as expected last night, the US stock S&P 500 index fell overnight, the Dow Jones Industrial Index closed and reached a new high, and the Hong Kong ADR index stabilized. Hong Kong stocks opened high and low today. Although there was a wave of rising prices in the afternoon, gains were weak. Market hot spots still revolved around biotechnology, alcoholic beverages, and the interior housing sector. On the A-share side, the Shanghai and Shenzhen markets slowly declined throughout the day today, and the decline in large-cap stocks dragged down the index. The market believes that the market is fearless about interest rate hikes. The decline in the financial sector has had a negative impact on the Hang Seng Index. There are no hot spots in the market throughout the day, investors are careful to enter the market. If there is no help from the general market, it is expected that short-term adjustments will continue.