HK Stock Market Move | WUXI BIO (02269) surged more than 7%. Reports indicated that the latest amendment to the US "Biosecurity Law" removed WUXI BIO.
WuXi Biologics (02269) surged more than 7%, as of the time of publication, it has risen by 7.47% to HK$13.82, with a turnover of HK$1.682 billion.
WUXI BIO (02269) surged more than 7%, as of the time of writing, up 7.47% to HKD 13.82, with a turnover of HKD 16.82 billion.
On the news front, according to a report by Caixin, the U.S. Congress official website stated that on September 23, progress was made on the enactment of the "Biosecurity Law" in the United States. In the latest amendment, WUXI BIO has been removed, while WuXi AppTec, BGI Genomics, MGI Tech Co., Ltd. and its subsidiary Complete Genomics remain on the list. At the same time, the proposal is expected to be renamed as the "Law Prohibiting Foreign Access to U.S. Genetic Information" and will further focus on human data-related businesses. Regarding the aforementioned changes, WUXI BIO has not responded as of September 25.
In addition, the recent rate cut by the Federal Reserve has accelerated the global biopharmaceutical industry's recovery. A research report by China Securities Co., Ltd. pointed out that with the Federal Reserve's first rate cut since March 2020, global liquidity has marginally improved, and the investment and financing environment in the pharmaceutical industry is expected to recover rapidly with valuation advantages. As the rate cut cycle begins, funding in the pharmaceutical industry is expected to gradually recover, and the increase in research and development demand will be beneficial to globally competitive CXO leaders and sector leaders.
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