Hong Kong stocks closed (09.21) | Hang Seng Index rose 1.18% to rebound to 25,000 innovative drug concept stocks, which exploded across the board, Zhongsheng Pharmaceutical (01177) led the blue chip
The Zhitong Finance App learned that the three major indices of Hong Kong stocks fluctuated higher today, and the Hang Seng Index returned to the 255,000 mark. At the close, the Hang Seng Index rose 1.18% or 291.93 points to 25042.71 points, with a full day turnover of HK$20.731 billion; the Hang Seng State-owned Enterprises Index rose 1.39% to 8339.63 points; and the Hang Seng Technology Index rose 0.40% to 4423.29 points.
Huatai Securities pointed out that interest rate volatility has declined but the point risk has not been lifted, profit expectations have not yet been fixed, and the Hong Kong stock market may rebound steadily in the short term, but the timing and extent remains to be seen. After FOMC was implemented, implied bearish sentiment and negative gamma fluctuations in the options market cooled down, and the market may have improved technically compared to before. However, judging from the trend, the pattern of tightening overseas liquidity and lackluster domestic fundamentals currently faced by Hong Kong stocks has not been reversed.
Blue-chip stock performance
China Biopharmaceuticals (01177) led the blue chip increase. At the close, it rose 8.23% to HK$5.92, with a turnover of HK$881 million. Yamato released a research report saying that at a healthcare industry exchange event recently, the company's management reiterated that the guidelines for recording a double-digit year-on-year increase in revenue this year have not changed. It is expected to be driven by both authorized revenue and innovative drug sales growth, and that innovative drug sales plus authorized revenue will contribute half of the year's revenue.
In terms of other blue-chip stocks, CSPC Group (01093) rose 7.56% to HK$9.605; Cinda Biotech (01801) rose 6.00% to HK$102.400; and Ali Health (00241) fell 4.40% to HK$2.930.
Popular sector aspects
On the market, the majority of Science Network stocks rose. Alibaba will hold the 2026 Yunqi Conference from September 22 to 24, and the stock price will rise by more than 3%; reports say that the US plans to relax licensing cooperation with pharmaceutical companies, and that 10 departments including the Ministry of Information and Communications will issue the “15th Five-Year Plan” for the pharmaceutical industry, innovative drug concept stocks will explode across the board; domestic housing stocks will collectively rise in the afternoon; and trends such as PCB concepts, shipping, and ship concepts are active. On the other side, Federal Reserve officials warned that inflation is still too high, and gold stocks are falling collectively; household appliances and non-ferrous metals stocks are generally falling.
Innovative drug concept stocks have exploded across the board. At the close, Kangfang Biotech (09926) rose 9.72% to HK$99.3; Sansheng Pharmaceutical (01530) rose 9.33% to HK$17.220; China Biopharmaceuticals (01177) rose 8.23% to HK$5.920; and CSPC Pharmaceuticals (01093) rose 7.56% to HK$9.605.
According to reports, the US Treasury Department is drafting new investment regulations to allow US pharmaceutical companies to retain the right to enter into most drug licensing agreements with China. Earlier, the Ministry of Industry and Information Technology and other departments jointly issued the “Fifteenth Five-Year Plan for the Development of the Pharmaceutical Industry”, which proposed to push China's pharmaceutical industry from scale-driven to innovation-driven and quality-oriented development, and rank among the world's leaders by 2030.
It is worth mentioning that Anthropic, a major overseas model company, was revealed to be starting to build a wet laboratory to carry out biological research, and said that life science is already one of the fields where it has invested the most people and resources. Currently, AI pharmaceuticals are on the upward channel of additional capital from outside the industry and two-wheel drive within the industry's R&D budget.
Domestic housing stocks increased their gains in the afternoon. At the close, Sunac China (01918) rose 12.30% to HK$0.685; Rongxin China (03301) rose 6.15% to HK$0.069; and Vanke Enterprise (02202) rose 5.11% to HK$2.47.
Zhang Xuetao, director of the Real Estate Market Supervision Department of the Ministry of Housing and Construction, said that the current real estate market is showing “two transformations”: the relationship between supply and demand has changed significantly, and real estate has entered an era of stock. Furthermore, the newly revised “Regulations on the Administration of Housing Provident Funds” came into effect on September 20. The system changed from focusing on supporting home purchases to a full-cycle consumption guarantee covering the purchase, rental, repair, and maintenance of housing. Real estate expert Ding Zuyu, invited by Goldman Sachs, judged that short-term supply is roughly balanced, but due to sales model reforms, there will be a significant supply shortage for a period of 12 to 18 months from March 2027, which will gradually stabilize for about 2 years thereafter.
PCB concept stocks were active. At the close, Guanghe Technology (01989) rose 14.31% to HK$123; Shenghong Technology (02476) rose 12.94% to HK$225.2; and Jiantao Laminate (01888) rose 3.52% to HK$48.76.
According to recent research reports from various institutions, as upstream raw material prices continue to rise, PCB manufacturers have initiated re-quotations one after another, marking the opening of the price transmission mechanism in the industrial chain. It is expected that the third quarter of 2026 will be a starting point for improving sector profits. Currently, the copper-clad plate industry is showing a sharp rise in volume and price. Since December of last year, mainstream manufacturers such as Jiantao and South Asia have continuously issued price adjustment letters, with a weekly increase of 10% to 20% for copper clad boards. Among them, Jiantao laminated boards raised prices 7 times during the year, and the cumulative increase of some products exceeded 100%. According to China Merchants Securities, small and medium-sized manufacturers have raised prices month by month since May, and have now completed 4 to 5 rounds of price increases. The net interest rates of most small and medium-sized PCB manufacturers have recovered to a record high of 10% or more in Q3.
Shipping and ship concepts are trending actively. At the close, COSCO Marine Energy (01138) rose 6.75% to HK$20.56; China Shipbuilding Defense (00317) rose 4.07% to HK$15.86; and Dongfang Overseas International (00316) rose 2.12% to HK$149.4.
Maersk confirmed that it has signed contracts to build 26 large container ships with a capacity of 18,600 TEU per ship, all using dual-fuel engines, and are scheduled to be delivered between 2029 and 2030. Meanwhile, VLCC freight rates reached another record high. On September 17, VLCC's TD3C, TD15, and TD22 routes reached 121, 53, and 390,000 US dollars/day, respectively. Cathay Pacific Haitong believes that oil transportation had already entered a super bull market before the Middle East conflict, and that war risk premiums, regional disorder, and loss of efficiency during the conflict led to new highs.
Gold stocks collectively declined. At the close, China Gold International (02099) fell 6.62% to HK$234.2; Lingbao Gold (03330) fell 5.46% to HK$23.22; and Zijin Gold International (02259) fell 2.7% to HK$154.8.
Federal Reserve official and Minneapolis Federal Reserve Chairman Neil Kashkari said on the 20th local time that inflation in all areas of the US economy is too high, not just the rise in oil prices. Notably, after the Federal Reserve implemented a “hawkish rate hike” last Wednesday, Goldman Sachs currently expects the Federal Reserve to raise interest rates by another 25 basis points at the October policy meeting. The League of Nations Futures believes that the core logic of the precious metals market will revolve around the December Federal Reserve policy expectations, US bond yields, and crude oil-driven inflation expectations, which are likely to maintain a volatile pattern.
Popular exotic stocks
Starlink Technology (06727) debuted. At the close, it was down 9.18% to HK$44.5.
According to reports, Starlink Technology is a leading AI infrastructure software provider in China. It mainly generates revenue by selling AI and big data infrastructure software products and related services to enterprises and government customers. According to an announcement from the Shanghai and Shenzhen Stock Exchange, Starlink Technology was transferred to the Hong Kong Stock Exchange list, which will take effect on September 21, that is, it can be included in the Hong Kong Stock Connect on the first day of the company's listing.
The volume of Yingpai Pharmaceutical-B (07630) surged. At the close, it was up 27.78% to HK$16.65.
Yingpai Pharmaceutical announced on September 18 that the European Medicines Agency's Committee on Medicines for Human Use (CHMP) has passed a positive opinion recommending approval for the marketing license for the core product Sepalna (Sepalna) for maintenance treatment of advanced epithelial ovarian cancer, fallopian tube cancer and primary peritoneal cancer. After approval of the CHMP proposal, Senapali will be submitted to the European Commission for a final decision.
Liberal Arts Interactive (00434) is trending strongly. At the close, it was up 8.71% to HK$3.12.
The market digested the setback of the CLARITY Act and the Federal Reserve's interest rate hike. Cryptocurrency collectively surged, and Bitcoin surpassed $81,000. Liberal Arts Interactive announced at the beginning of this month that it purchased about 205 bitcoins on the open market from June 24 to September 4, 2026 at a total consideration of about HK$110 million. As of the announcement date, it held a total of about 4,316 bitcoins, with an average purchase cost of US$68,300 each.
Xiaomi Group-W (01810) continues to climb. At the close, it was up 4.47% to HK$27.58.
On September 20, Lei Jun, founder, chairman and CEO of Xiaomi, announced that the new Xiaomi 18 Pro series will be released on September 23 at 7 p.m., and several new technology products will be released at the same time. Furthermore, Lei Jun wrote that a live broadcast is scheduled to be held at 7 p.m. on September 21.
Andeley Juice (02218) drives high and goes low. At the close, it was down 17.58% to HK$20.06.
Andley announced that it plans to acquire a total of 62.06% of Yongqiang Technology's shares with a total of 793 million yuan in cash, thereby gaining control of Yongqiang Technology. After the transaction is completed, Yongqiang Technology will become the company's holding subsidiary. The target company is a high-tech enterprise mainly engaged in R&D, production and sales of integrated circuit electronic information interconnection materials.