PHARMARON Falls Over 3% Following 8.5% Discounted Share Placement
Stock Performance: PHARMARON (03759.HK) opened down 3.37% and is currently trading at $24, reflecting a 3.77% decrease with significant trading volume of 6.4042 million shares.
New Share Placement: The company announced a placement of approximately 58.4408 million new H shares at an 8.5% discount, aiming to raise nearly $1.32 billion in net proceeds.
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S&P Global Market Intelligence Reveals Recent Top 10 Most Shorted Stocks in Hong Kong (Table)
Top Shorted Stocks: S&P Global Market Intelligence identified the ten most shorted stocks in Hong Kong, with metrics based on the short selling ratio, which measures shares lent out relative to total issued shares.
Leading Stocks: COSCO SHIP HOLD topped the list with a short selling ratio of 40.396%, followed by DONGFANG ELEC and PHARMARON with ratios of 19.528% and 34.783%, respectively.
Stock Performance: The report includes recent price changes and short selling amounts, indicating varying performance among the listed stocks over the past week.
Market Insights: The data reflects investor sentiment and market dynamics, with significant short selling activity observed in companies like PING AN and ZTE, highlighting potential concerns or speculation in the market.
PHARMARON Falls Over 3% Following 8.5% Discounted Share Placement
Stock Performance: PHARMARON (03759.HK) opened down 3.37% and is currently trading at $24, reflecting a 3.77% decrease with significant trading volume of 6.4042 million shares.
New Share Placement: The company announced a placement of approximately 58.4408 million new H shares at an 8.5% discount, aiming to raise nearly $1.32 billion in net proceeds.
PHARMARON Sells Shares at 8.5% Discount to Generate Approximately HKD1.32 Billion Net
Share Placement Announcement: Pharmaron plans to issue approximately 58.44 million new H-shares at HKD22.82 each, representing about 3.19% of its enlarged issued share capital and a 16.57% of total issued H-shares, at an 8.5% discount to the previous closing price.
Use of Proceeds: The company anticipates raising around HKD1.334 billion from the placement, with about 70% allocated for enhancing laboratory service facilities, drug process development, and production facilities.
HSI Rises 123 Points at Opening; Pharmaceutical Stocks Surge; HAIDILAO Jumps Over 5%
US Stock Market Performance: US stocks fell 398 points (0.8%) following JPMorgan's earnings report, while chip stocks saw increased interest.
Hong Kong Market Opening: The Hong Kong bourse opened higher, with the HSI up 123 points (0.5%) and notable gains in tech stocks like BABA-W and TENCENT.
Inflation Rate in China: China's inflation rate for December was reported at 0.8%, slightly above the previous 0.7% but below the forecast of 0.9%.
Pharmaceutical Sector Activity: Several pharmaceutical stocks, including HANSOH PHARMA and BEONE MEDICINES, opened higher, while PHARMARON anticipated a decrease in full-year profit but still saw a slight increase in stock price.
PHARMARON Rises Approximately 10% After UBS Increases Price Target Following FDA Approval of Production Facilities
Stock Performance: PHARMARON (03759.HK) opened flat, peaked at HKD28.32, and last traded at HKD28.26, reflecting a 9.2% increase with a trading volume of 25.4 million shares.
FDA Approval: Pharmaron Shaoxing, a subsidiary of PHARMARON, successfully passed a cGMP PAI by the FDA, allowing it to commence commercial-scale drug production, which UBS views positively for the company's growth.
HSI Closes 113 Points Lower; Pharmaceutical Stocks Under Pressure; Chip Stocks Surge
Market Performance: The Hong Kong bourse experienced a volatile session, with the HSI closing down 113 points (0.4%) at 26,086 after fluctuating between a low of 25,878 and a brief positive turn in the afternoon. The HSCEI and HSTECH also saw declines of 0.7% and 0.2%, respectively.
Pharmaceutical Sector Decline: The pharmaceutical sector faced significant losses, with major companies like SINO BIOPHARM and WUXI BIO dropping over 4%. This downturn was influenced by reports of potential U.S. scrutiny on pharmaceutical companies acquiring licenses from Chinese firms, despite a White House spokesperson denying active consideration of such measures.
Alibaba's Mixed Results: Alibaba's stock rose 0.4% after announcing plans to issue US$3.2 billion in convertible senior notes, while its Amap feature gained significant user engagement. In contrast, Meituan's stock fell 5.1% despite having a substantial daily active user count.
Chip Stocks Rally: In contrast to the pharmaceutical sector, chip stocks performed well, with companies like CAMBRICON and SMIC seeing gains of nearly 9% and 5%, respectively, indicating a positive trend in the semiconductor industry amidst broader market volatility.
S&P Global Market Intelligence Reveals Recent Top 10 Most Shorted Stocks in Hong Kong (Table)
Top Shorted Stocks: S&P Global Market Intelligence identified the ten most shorted stocks in Hong Kong, with metrics based on the short selling ratio, which measures shares lent out relative to total issued shares.
Leading Stocks: COSCO SHIP HOLD topped the list with a short selling ratio of 40.396%, followed by DONGFANG ELEC and PHARMARON with ratios of 19.528% and 34.783%, respectively.
Stock Performance: The report includes recent price changes and short selling amounts, indicating varying performance among the listed stocks over the past week.
Market Insights: The data reflects investor sentiment and market dynamics, with significant short selling activity observed in companies like PING AN and ZTE, highlighting potential concerns or speculation in the market.
PHARMARON Falls Over 3% Following 8.5% Discounted Share Placement
Stock Performance: PHARMARON (03759.HK) opened down 3.37% and is currently trading at $24, reflecting a 3.77% decrease with significant trading volume of 6.4042 million shares.
New Share Placement: The company announced a placement of approximately 58.4408 million new H shares at an 8.5% discount, aiming to raise nearly $1.32 billion in net proceeds.
PHARMARON Sells Shares at 8.5% Discount to Generate Approximately HKD1.32 Billion Net
Share Placement Announcement: Pharmaron plans to issue approximately 58.44 million new H-shares at HKD22.82 each, representing about 3.19% of its enlarged issued share capital and a 16.57% of total issued H-shares, at an 8.5% discount to the previous closing price.
Use of Proceeds: The company anticipates raising around HKD1.334 billion from the placement, with about 70% allocated for enhancing laboratory service facilities, drug process development, and production facilities.
HSI Rises 123 Points at Opening; Pharmaceutical Stocks Surge; HAIDILAO Jumps Over 5%
US Stock Market Performance: US stocks fell 398 points (0.8%) following JPMorgan's earnings report, while chip stocks saw increased interest.
Hong Kong Market Opening: The Hong Kong bourse opened higher, with the HSI up 123 points (0.5%) and notable gains in tech stocks like BABA-W and TENCENT.
Inflation Rate in China: China's inflation rate for December was reported at 0.8%, slightly above the previous 0.7% but below the forecast of 0.9%.
Pharmaceutical Sector Activity: Several pharmaceutical stocks, including HANSOH PHARMA and BEONE MEDICINES, opened higher, while PHARMARON anticipated a decrease in full-year profit but still saw a slight increase in stock price.
PHARMARON Rises Approximately 10% After UBS Increases Price Target Following FDA Approval of Production Facilities
Stock Performance: PHARMARON (03759.HK) opened flat, peaked at HKD28.32, and last traded at HKD28.26, reflecting a 9.2% increase with a trading volume of 25.4 million shares.
FDA Approval: Pharmaron Shaoxing, a subsidiary of PHARMARON, successfully passed a cGMP PAI by the FDA, allowing it to commence commercial-scale drug production, which UBS views positively for the company's growth.
HSI Closes 113 Points Lower; Pharmaceutical Stocks Under Pressure; Chip Stocks Surge
Market Performance: The Hong Kong bourse experienced a volatile session, with the HSI closing down 113 points (0.4%) at 26,086 after fluctuating between a low of 25,878 and a brief positive turn in the afternoon. The HSCEI and HSTECH also saw declines of 0.7% and 0.2%, respectively.
Pharmaceutical Sector Decline: The pharmaceutical sector faced significant losses, with major companies like SINO BIOPHARM and WUXI BIO dropping over 4%. This downturn was influenced by reports of potential U.S. scrutiny on pharmaceutical companies acquiring licenses from Chinese firms, despite a White House spokesperson denying active consideration of such measures.
Alibaba's Mixed Results: Alibaba's stock rose 0.4% after announcing plans to issue US$3.2 billion in convertible senior notes, while its Amap feature gained significant user engagement. In contrast, Meituan's stock fell 5.1% despite having a substantial daily active user count.
Chip Stocks Rally: In contrast to the pharmaceutical sector, chip stocks performed well, with companies like CAMBRICON and SMIC seeing gains of nearly 9% and 5%, respectively, indicating a positive trend in the semiconductor industry amidst broader market volatility.
