CICC Lowers AKESO's Target Price to HKD184; Maintains Outperform Rating
Interim Analysis Presentation: AKESO presented promising interim analysis data from the HARMONi-6 study at The Lancet & ESMO on October 19, as reported by CICC.
Protocol Revision: The company revised the HARMONi-3 trial protocol to allow for an independent statistical analysis based on histological types, which is expected to expedite clinical data acquisition.
CICC's Rating and Target Price: CICC maintained an Outperform rating for AKESO but reduced its target price by 18.2% to HKD184, citing a downward adjustment in the valuation center for innovative drugs in the Hong Kong market.
Short Selling Data: As of October 21, AKESO had a short selling amount of $138.45M with a ratio of 8.670%.
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HKD4.3 Billion Net Inflow from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT (00700.HK) saw significant Southbound Trading net inflows totaling HKD4.3 billion, while other stocks like BABA-W (09988.HK) and POP MART (09992.HK) experienced notable short selling activity.
Market Activity Overview: TENCENT was the most active stock in both Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect, with substantial net inflows, while stocks like XIAOMI-W and AKESO faced the highest net outflows.
Short Selling Statistics: The short selling ratios for TENCENT, BABA-W, and POP MART were 15.248%, 19.556%, and 27.852% respectively, indicating a high level of market speculation.
Overall Market Sentiment: The total Southbound Trading net outflow was HKD0, accounting for 35.67% of the total transaction amount of HKD88.42 billion, reflecting fragile market sentiment according to JPM.
CICC Identifies Possible 'Blue Chip' Stocks for HSI Semi-Annual Adjustment Predictions (Table)
CICC Report on HSI Adjustments: CICC predicts potential blue chip stocks for inclusion in the HSI based on semi-annual adjustments and quantitative criteria, highlighting companies like ZIJIN GOLD INTL and YUM CHINA.
Short Selling and Inflows: The report details short selling ratios and inflows for various stocks, indicating market activity and investor sentiment towards companies such as BEONE MEDICINES and XPENG-W.
Potential Replacements for HANG SENG BANK: Following the delisting of HANG SENG BANK, companies like STANCHART and SWIREPROPERTIES are identified as potential candidates to fill the vacancy.
Market Performance Overview: The report includes a snapshot of stock performance, with some companies experiencing gains while others face declines, reflecting the mixed market conditions.
Duoning Biotech Seeks Hong Kong Listing; WUXI BIO is Its Largest Client
Company Listing: Shanghai Duoning Biotechnology has submitted a listing application to the Hong Kong Stock Exchange, with Morgan Stanley and Huatai International as joint sponsors.
Clientele and Services: The company provides bioprocess solutions and laboratory products to pharmaceutical companies, CROs, CDMOs, and research institutions, with major clients including top biopharmaceutical firms in China.
Key Clients: WuXi Biologics is highlighted as one of the largest clients and suppliers, along with other notable shareholders such as CSPC Pharma, Akeso, and Keymed Bio-B.
Market Activity: The article notes short selling activity and stock performance for several companies in the sector, indicating market dynamics and investor interest.
KGI Projects HSI to Reach 30,000 by Year-End, Suggests 12 Stocks Including XPENG-W, UBTECH ROBOTICS, TENCENT, and BABA-W
China's GDP Growth Outlook: KGI estimates that external pressures will slow China's GDP growth to 4.6% this year, despite reduced risks from recent trade agreements.
HSI Forecast: KGI maintains a bullish outlook for the Hang Seng Index (HSI), predicting that Fed rate cuts will attract capital back into H- and A-shares, with a year-end target of 30,000, indicating a potential 14% increase.
Stock Recommendations: KGI has recommended 12 major stocks, including XPENG-W, UBTECH ROBOTICS, TENCENT, and BABA-W, highlighting their performance and short selling ratios.
Market Sentiment: The report reflects a positive sentiment towards the Chinese A-share market, driven by anticipated earnings growth, as noted by Jefferies.
HKEX Introduces Six New Classes of Stock Options
New Stock Options Launch: HKEX is set to launch six new stock option classes on January 19, 2026, enhancing choices for investors in the single stock options market.
Included Stocks: The new options will include stocks such as ZIJIN GOLD INTL, WUXI APPTEC, BEONE MEDICINES, LAOPU GOLD, HORIZONROBOT-W, and AKESO, each with varying short selling data and ratios.
Daiwa Selects INNOVENT BIO (01801.HK) and HENGRUI PHARMA (600276.SH) as Top Picks, Raises Target Price to HKD112
Market Overview: In 2025, the Chinese biopharmaceutical sector experienced significant growth, prompting Daiwa to suggest a selective investment strategy for 2026, focusing on quality stocks.
Top Stock Picks: Daiwa's recommended stocks include INNOVENT BIO, with a target price increase from HKD95 to HKD112, and HENGRUI PHARMA, maintaining a target price of RMB80.
Stock Downgrades: AKESO has been downgraded from Buy to Hold, despite an increase in its target price from HKD100 to HKD116, while CSPC PHARMA retains a Sell rating with a target price of HKD6.6.
Short Selling Data: The report includes short selling figures for the mentioned stocks, indicating varying levels of market activity and investor sentiment.
HKD4.3 Billion Net Inflow from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT (00700.HK) saw significant Southbound Trading net inflows totaling HKD4.3 billion, while other stocks like BABA-W (09988.HK) and POP MART (09992.HK) experienced notable short selling activity.
Market Activity Overview: TENCENT was the most active stock in both Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect, with substantial net inflows, while stocks like XIAOMI-W and AKESO faced the highest net outflows.
Short Selling Statistics: The short selling ratios for TENCENT, BABA-W, and POP MART were 15.248%, 19.556%, and 27.852% respectively, indicating a high level of market speculation.
Overall Market Sentiment: The total Southbound Trading net outflow was HKD0, accounting for 35.67% of the total transaction amount of HKD88.42 billion, reflecting fragile market sentiment according to JPM.
CICC Identifies Possible 'Blue Chip' Stocks for HSI Semi-Annual Adjustment Predictions (Table)
CICC Report on HSI Adjustments: CICC predicts potential blue chip stocks for inclusion in the HSI based on semi-annual adjustments and quantitative criteria, highlighting companies like ZIJIN GOLD INTL and YUM CHINA.
Short Selling and Inflows: The report details short selling ratios and inflows for various stocks, indicating market activity and investor sentiment towards companies such as BEONE MEDICINES and XPENG-W.
Potential Replacements for HANG SENG BANK: Following the delisting of HANG SENG BANK, companies like STANCHART and SWIREPROPERTIES are identified as potential candidates to fill the vacancy.
Market Performance Overview: The report includes a snapshot of stock performance, with some companies experiencing gains while others face declines, reflecting the mixed market conditions.
Duoning Biotech Seeks Hong Kong Listing; WUXI BIO is Its Largest Client
Company Listing: Shanghai Duoning Biotechnology has submitted a listing application to the Hong Kong Stock Exchange, with Morgan Stanley and Huatai International as joint sponsors.
Clientele and Services: The company provides bioprocess solutions and laboratory products to pharmaceutical companies, CROs, CDMOs, and research institutions, with major clients including top biopharmaceutical firms in China.
Key Clients: WuXi Biologics is highlighted as one of the largest clients and suppliers, along with other notable shareholders such as CSPC Pharma, Akeso, and Keymed Bio-B.
Market Activity: The article notes short selling activity and stock performance for several companies in the sector, indicating market dynamics and investor interest.
KGI Projects HSI to Reach 30,000 by Year-End, Suggests 12 Stocks Including XPENG-W, UBTECH ROBOTICS, TENCENT, and BABA-W
China's GDP Growth Outlook: KGI estimates that external pressures will slow China's GDP growth to 4.6% this year, despite reduced risks from recent trade agreements.
HSI Forecast: KGI maintains a bullish outlook for the Hang Seng Index (HSI), predicting that Fed rate cuts will attract capital back into H- and A-shares, with a year-end target of 30,000, indicating a potential 14% increase.
Stock Recommendations: KGI has recommended 12 major stocks, including XPENG-W, UBTECH ROBOTICS, TENCENT, and BABA-W, highlighting their performance and short selling ratios.
Market Sentiment: The report reflects a positive sentiment towards the Chinese A-share market, driven by anticipated earnings growth, as noted by Jefferies.
HKEX Introduces Six New Classes of Stock Options
New Stock Options Launch: HKEX is set to launch six new stock option classes on January 19, 2026, enhancing choices for investors in the single stock options market.
Included Stocks: The new options will include stocks such as ZIJIN GOLD INTL, WUXI APPTEC, BEONE MEDICINES, LAOPU GOLD, HORIZONROBOT-W, and AKESO, each with varying short selling data and ratios.
Daiwa Selects INNOVENT BIO (01801.HK) and HENGRUI PHARMA (600276.SH) as Top Picks, Raises Target Price to HKD112
Market Overview: In 2025, the Chinese biopharmaceutical sector experienced significant growth, prompting Daiwa to suggest a selective investment strategy for 2026, focusing on quality stocks.
Top Stock Picks: Daiwa's recommended stocks include INNOVENT BIO, with a target price increase from HKD95 to HKD112, and HENGRUI PHARMA, maintaining a target price of RMB80.
Stock Downgrades: AKESO has been downgraded from Buy to Hold, despite an increase in its target price from HKD100 to HKD116, while CSPC PHARMA retains a Sell rating with a target price of HKD6.6.
Short Selling Data: The report includes short selling figures for the mentioned stocks, indicating varying levels of market activity and investor sentiment.
