Hong Kong stocks end higher on pharma, tech gains

New World Development

06/10/2026 09:53

Updates to market close, adds HSBC comment
HONG KONG, Oct 6 (Reuters) - Hong Kong shares closed higher on Tuesday, tracking a firmer overseas market, while gains in pharmaceutical and technology stocks overpowered selling pressure on some key property developers. 
** Hong Kong benchmark Hang Seng .HSI ended 1% higher, and the Hang Seng China Enterprises Index .HSCE was up nearly 1%. 
** Overseas markets climbed with Japan's Nikkei .N225 gaining 1.1%, Taiwan SE Weighted Index .TWII adding 0.2% and Jakarta Composite Index .JKSE up 1.5%.
** The Hang Seng Biotech Index .HSBIO rose 3.2% and the Hang Seng Tech .HSTECH climbed 0.9%.
** WuXi Biologics 2269.HK and Sino Biopharmaceutical 1177.HK rose 4.5% and 4.3%, respectively.
** "We expect positive growth for most leading pharma companies in 2026," Linda Shu, head of China healthcare research at HSBC Qianhai Securities, wrote in a note.
** Pharma companies with a high innovative drug proportion are set to deliver a 10%-15% year-on-year revenue growth rate in 2027-28 based on estimates, Shu added.
** Kuaishou 1024.HK, Alibaba 9988.HK, Baidu 9888.HK and Sunny Optical 2382.HK rose between 2.3% and 3.5%.
** China's onshore financial markets were closed for China's National Day and will reopen on October 8.
** Key property developers slipped, with Sun Hung Kai Properties 0016.HK down 0.6% and CK Asset 1113.HK down 0.3%.
** "We expect (residential) prices to consolidate throughout 2026," brokerage UOB Kay Hian said.  
** New World Development 0017.HK fell 3.5% after the developer launched a debt exchange offer that would allow bondholders to swap some notes due in 2027 and 2028 for new secured debt maturing in 2032. 

(Reporting by Donny Kwok; Editing by Sonia Cheema and Harikrishnan Nair)
((donny.kwok@thomsonreuters.com; +852 3462 7745;))