Understanding the Market | Concept stocks related to CRO surged in the final trading session with heavy volume. Market rumors suggest that the US Senate NDAA did not include the biosecurity proposal
Concept stocks related to CRO surged at the end of the day. As of the time of writing, Pharmaron rose by 13.27% to HKD 11.18, WuXi AppTec rose by 11.96% to HKD 42.6, WuXi Biologics rose by 10.89% to HKD 13.44, and Tigermed rose by 7.14% to HKD 28.5. On the news front, there were market rumors in the afternoon today that on September 19, the official website of the Senate Armed Services Committee announced that the Senate version of the NDAA included 93 amendments, none of which involved the biosecurity proposal. In addition, the Fed announced aggressive rate cuts, and global innovative drug investment and financing are expected to continue to improve. Citigroup previously pointed out that it is unclear whether the U.S. Senate will adopt the House version of the "Biosecurity Act" or another version, or attach a larger bill to the "Biosecurity Act." The bank believes that the stock prices of WuXi AppTec and WuXi Biologics are undervalued. Zheshang Securities stated that global investment and financing are gradually bottoming out, with a low base in the second half of 2023, leading orders remaining stable. The focus is on companies where orders/performance inflection points appear
According to the Wise Finance APP, CRO concept stocks surged at the end of the day. As of the time of publication, Pharmaron (03759) rose by 13.27% to HKD 11.18; WuXi AppTec (02359) rose by 11.96% to HKD 42.6; WuXi Biologics (02269) rose by 10.89% to HKD 13.44; Tigermed (03347) rose by 7.14% to HKD 28.5.
On the news front, there were market rumors in the afternoon today that on September 19, the official website of the Senate Armed Services Committee announced that the Senate version of the NDAA included 93 amendments, none of which involved biosecurity proposals. In addition, the Federal Reserve announced aggressive interest rate cuts, and global innovative drug financing is expected to continue to improve.
Citi previously pointed out that it is unclear whether the U.S. Senate will adopt the House version of the "Biosecurity Act" or another version, or attach a larger bill to the "Biosecurity Act". The bank believes that the stock prices of WuXi AppTec and WuXi Biologics are undervalued. Zheshang Securities stated that global financing is gradually bottoming out, with a low base in the second half of 2023, leading orders remaining stable. The focus is on companies where orders/performance inflection points appear