HK Stock Market Move | Concept stocks have collectively fallen, GenScript Bio (01548) dropped more than 6%, Pharmaron Beijing (03759) fell more than 4%.

Concept stocks of CRO collectively declined. As of the time of publication, GENSCRIPT BIO (01548) fell by 6.05% to 14.92 Hong Kong dollars; Pharmaron Beijing (03759) fell by 4.67% to 20.8 Hong Kong dollars; VIVA BIOTECH (01873) fell by 4.57% to 1.88 Hong Kong dollars; Hangzhou Tigermed Consulting (03347) fell by 3.71% to 36.9 Hong Kong dollars. On the news front, the unexpectedly strong US non-farm payroll data released last night led to a shrinking possibility of a rate cut by the Federal Reserve in December, as indicated by the continued outlook of swap contracts. Zhongtai believes that since 2024, although there have been fluctuations in overseas monthly CPI data, there is hope for a gradual trend towards interest rate cuts overseas, with expectations for improvement in investment and financing prospects and some companies already seeing order recovery. The bank expects valuation repair opportunities for foreign demand CRO/CDMO and domestic pre-clinical CRO; in addition, due to the significant impact of the domestic and foreign investment and financing environment on the CRO sector, the bank expects the sector to gradually recover with the gradual strengthening of domestic policies, and will continue to focus on investment opportunities in clinical CROs.