Hong Kong stocks end higher on pharma, tech gains
EWU•Hong Kong’s Hang Seng Index rose 1% at Tuesday’s close, with the biotech index up 3.2% and the technology index up 0.9%. WuXi Biologics gained 4.5%, while New World Development fell 3.5% after launching a debt exchange offer.
1. Pharma and tech advance
Hong Kong shares closed higher, tracking a firmer overseas market as pharmaceutical and technology gains outweighed declines in some property developers. The Hang Seng China Enterprises Index rose nearly 1%.
2. Stocks and outlook
WuXi Biologics rose 4.5% and Sino Biopharmaceutical gained 4.3%. Linda Shu, head of China healthcare research at HSBC Qianhai Securities, wrote that she expected positive growth for most leading pharmaceutical companies in 2026; she added that companies with a high proportion of innovative drugs were estimated to deliver 10%-15% year-on-year revenue growth in 2027-28.
3. Property shares fall
New World Development fell 3.5% after launching an offer allowing bondholders to exchange some notes due in 2027 and 2028 for new secured debt maturing in 2032. Sun Hung Kai Properties slipped 0.6% and CK Asset fell 0.3%.
