HK Stock Market Move | Concept stocks related to CRO surged with heavy volume in the last trading session. It is rumored that the US Senate will release the NDAA, which does not include the biosecurity proposal.

Concept stocks related to contract research organizations (CRO) soared in the final trading session. As of press time, Pharmaron Beijing (03759) rose by 13.27% to 11.18 Hong Kong dollars; WuXi AppTec (02359) rose by 11.96% to 42.6 Hong Kong dollars; WUXI BIO (02269) rose by 10.89% to 13.44 Hong Kong dollars; Hangzhou Tigermed Consulting (03347) rose by 7.14% to 28.5 Hong Kong dollars. On the news front, there were market rumors in the afternoon that the Senate Armed Services Committee's official website announced on September 19 that the Senate version of the NDAA included 93 amendments, none of which involved biosecurity proposals. In addition, the Fed announced aggressive interest rate cuts, which is expected to continue to improve global innovative drug financing. Citigroup previously pointed out that it is unclear whether the US 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 BIO are undervalued. Zheshang stated that global financing and investment are gradually bottoming out, with a low base in the second half of 2023, and leading orders remaining stable, with a focus on companies that show a turning point in orders/performance.