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Hong Kong CXO stocks fall in afternoon trade on 22 October, Zhaoyan down over 10%
In short
Hong Kong-listed CXO stocks fell in the afternoon of 22 October, according to CLS, Yicai and Jiemian. CLS and Jiemian reported Zhaoyan Xinyao (昭衍新药) down more than 10% and Kailaiying (凯莱英) down nearly 9%. A later CLS report said innovative drug and CRO stocks kept falling, with Kailaiying close to its daily limit down.
Why it matters
The documents are short market notes and give no cause for the decline. They show a broad drop across several CXO, CRO and innovative drug names in one afternoon session.
Key facts
- Hong Kong-listed CXO stocks fell in the afternoon of 22 October. [ 1 , 2 , 3 ]
- Zhaoyan Xinyao (昭衍新药) fell more than 10% and Kailaiying (凯莱英) fell nearly 9%. [ 1 , 3 ]
- WuXi Biologics (药明生物), Tigermed (泰格医药), GenScript (金斯瑞生物科技) and WuXi AppTec (药明康德) each fell more than 5%. [ 1 , 3 ]
- A later CLS report said innovative drug and CRO stocks kept falling and Kailaiying was close to its daily limit down. [ 4 ]
- The same CLS report said Jin'an Danbai (近岸蛋白) fell more than 16%. [ 4 ]
- It also said Baihua Yiyao (百花医药), Wanbang Yiyao (万邦医药), Jinshi Yayao (金石亚药), Zhaoyan Xinyao, CanSino (康希诺) and WuXi AppTec fell more than 5%. [ 4 ]
Confirmed by several sources
- Hong Kong-listed CXO stocks fell in the afternoon of 22 October. [ 1 , 2 , 3 ]
- Zhaoyan Xinyao fell more than 10%, Kailaiying nearly 9%, and WuXi Biologics, Tigermed, GenScript and WuXi AppTec more than 5%. [ 1 , 3 ]
- Zhaoyan Xinyao and WuXi AppTec were each reported down more than 5% in both the Hong Kong CXO report and the later innovative drug and CRO report. [ 1 , 3 , 4 ]
Still unclear
- Why the stocks fell. None of the documents gives a cause.
- Whether the later CLS report covers the same market as the Hong Kong CXO reports. The later CLS report speaks of innovative drug and CRO concepts and a daily limit down for Kailaiying, without naming a market or giving a percentage for it.
- How far the stocks had fallen at the close. The documents report moves during the afternoon only.
What local media are saying
Timeline, local time
- CLS reported that Hong Kong CXO stocks fell in the afternoon, with Zhaoyan Xinyao down over 10%. [ 1 ]
- Yicai reported that Hong Kong CXO stocks fell in the afternoon. [ 2 ]
- Jiemian reported that Hong Kong CXO stocks weakened in the afternoon, with Zhaoyan Xinyao down over 10%. [ 3 ]
- CLS reported that innovative drug and CRO stocks kept falling, with Kailaiying close to its daily limit down and Jin'an Danbai down over 16%. [ 4 ]