CanSino Biologics leads rally among HK-listed pharmaceutical stocks

Clover Biopharmaceuticals

02/11/2022 02:58

** Hong Kong shares of CanSino Biologics Inc  6185.HK  lead
rally in pharmaceuticals stocks, soaring as much as 53.8% to
HK$133, marking their biggest daily pct gain since debut in
March 2019
    ** Stock set for eighth straight session of gains; biggest
percentage gainer in Hang Seng Composite Index  .HSCI 
    ** Pharmaceutical stocks extend gains after an unverified
note circulating on social media on Tuesday that China was
planning a reopening from strict COVID curbs, fuelling a sharp
rebound in the market  urn:newsml:reuters.com:*:nL1N31X0H7
    ** A Chinese foreign ministry spokesman later said he was
unaware of the situation
    ** CanSino, which its Recombinant COVID-19 Vaccine for
Inhalation "Convidecia Air™" has been included in Shanghai's
booster vaccination program last week, has bought back 113.8 mln
yuan ($15.65 mln) worth of A-shares as of Oct 31  urn:newsml:reuters.com:*:nP8N31S0DM
    ** Brokers say hopes that more vaccine will be employed to
prevent and deal with easing curbs on COVID-19, and expectations
of inhaler vaccines to be primary choice help boosted
pharmaceutical stocks, especially CanSino
    ** CanSino's Shanghai shares  688185.SS  soar 20%
    ** Shares of Sino Biopharmaceutical  1177.HK , CSPC
Pharmaceutical  1093.HK , Clover Biopharmaceuticals  2197.HK 
and Simcere Pharmaceutical  2096.HK  rise between 3.1% and 28.7%
    ** Hong Kong's healthcare index  .HSCIH  jumps 4%, while
Hang Seng Composite Index  .HSCI  slips 0.2% and Hang Seng Index
 .HSI  eases 0.3%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))