Ascletis Pharma-B (01672): With the share price on the verge of breaking through its previous high, why are off-market funds choosing to remain on the sidelines?
Since last October, the pharmaceuticals sector of the Hong Kong stock market has experienced a significant correction. The primary reasons for this correction in its early stages were a cooling of market sentiment and BD transactions falling short of expectations on a phased basis. In the later stages, however, the correction was exacerbated by the systemic decline of the broader Hong Kong stock market, leading to further declines in the sector.
Nine Hang Seng Indexes have been included in the performance comparison benchmark database for public offering funds.
On January 27, the Asset Management Association of China (AMAC) officially released the 'Announcement on the Release of the Performance Benchmark Elements Library and Operational Guidelines for Public Fund Benchmarks.'
The $5.6 billion blockbuster deal has ignited the concept of innovative pharmaceuticals in Hong Kong stocks, and the opening of the JPM Summit may further stimulate market activity.
①Rongchang Bio announced a significant BD deal worth $5.6 billion. How will this benefit the Hong Kong stock market's innovative drug sector? ②The opening of the JPM Summit may further boost market sentiment. What are the key highlights to watch in the coming period?
Pharma 2025 Outlook: Booming BD Deals Propel Innovative Drugs to the Forefront
① After a four-year consolidation period, the A-share and Hong Kong stock markets in the pharmaceutical sector finally experienced a restorative rebound in 2025; ② This rally is mainly driven by the accelerated progress of Chinese innovative drugs entering international markets, with continuous breakthroughs in business development (BD) transactions; ③ The internal differentiation within the pharmaceutical sector is evident, characterized by a mix of contrasting dynamics.
Hong Kong stocks secure the top spot globally in the 2025 IPO fundraising rankings, with the pharmaceuticals sector emerging as a 'pillar of support'?
After three years of deep correction, the Hong Kong stock market for innovative drugs returned to a bull market in May 2025, catalyzed by a significant BD deal worth 48 billion US dollars between 3SBio and Pfizer. The Hang Seng Healthcare Index (800804) surged upward until September, reaching a peak of 4721.41 points with an increase of 102.76%.
Hang Seng Index Company: The Hang Seng Index rose by 27.8% in 2025, marking its best performance since 2017.
In 2025, the Hong Kong stock market, represented by the Hang Seng Index, surged by 27.8%, marking its best performance since 2017.