Daily Hong Kong Stock Market News Briefing (December 19, Thursday)

USHK News
2024.12.19 01:08

Important News

  1. The Federal Reserve is expected to cut interest rates by 25 basis points in December as scheduled, with an unclear rate cut path for 2025, anticipating only two rate cuts.

Individual Stock News

  1. Hansoh Pharmaceutical (03692.HK) has entered into a licensing agreement with Merck, granting Merck global exclusive rights to develop, manufacture, and commercialize the clinical-stage oral small molecule GLP-1 receptor agonist HS-10535. The company will receive an upfront payment of USD 112 million and is eligible for up to USD 1.9 billion in milestone payments based on the product's development, regulatory approval, and commercialization progress.

  2. Great Wall Life Insurance has increased its stake in Datang Renewable (01798.HK) by 1.5 million shares at a price of HKD 2.064 per share, totaling HKD 3.096 million.

  3. Shoucheng Holdings (00697.HK) plans to sell approximately 607 million shares of Shougang Resources to Shougang Holdings for about HKD 1.4566 billion.

  4. CITIC Securities (06066.HK) announced that it will distribute a cash dividend of RMB 0.09 per A share (tax included) on December 27, 2024.

  5. Yantai Medical (01501.HK) plans to acquire at least 51% controlling interest in Hangzhou Weiqiang Medical Technology, investing no less than RMB 200 million in the target company.

  6. Henderson Land Development (00012.HK): The rental rate of its two flagship shopping malls exceeds 97%, expecting double-digit growth in foot traffic and business volume during Christmas.

  7. Chongqing Bank (01963.HK): Wang Wei's qualifications for the position of vice president have been approved by regulatory authorities.

  8. China Oceanwide Holdings (03377.HK): The hearing for the liquidation petition has been postponed to February 17 next year.

  9. Sunshine Insurance (06963.HK): In the first 11 months, its subsidiaries Sunshine Property & Casualty Insurance and Sunshine Life Insurance reported original insurance contract premium income of RMB 43.829 billion and RMB 77.089 billion, respectively, representing year-on-year growth of 8.51% and 12.6%.

  10. Q Technology (01478.HK): Plans to subscribe for 20 million shares issued by New Giant Technology.

  11. China Resources Pharmaceutical (03320.HK): Its subsidiary China Resources Pharmaceutical Investment has cumulatively increased its stake in Dong'e Ejiao by 1%

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