Stock Track | WUXI APPTEC Soars 6.42% on Investor Optimism over Potential Chinese Stimulus

Stock Track

2024-12-03

Hong Kong stocks rose on Tuesday, with the biotech and pharmaceutical outsourcing sectors leading the gains. WUXI APPTEC, a leading contract research and manufacturing services provider, saw its shares surge by a remarkable 6.42%.

The surge in WUXI APPTEC's stock price came amid broader optimism in the Hong Kong market, which saw the Hang Seng Index rise by 1.00% and the Hang Seng Tech Index edge up by 0.27%. WUXI APPTEC's affiliate, WUXI Biologics, also witnessed a significant increase of 7.87%.

Investors are keenly anticipating the upcoming annual Central Economic Work Conference in China, where top leaders are expected to map out economic targets and stimulus plans for 2025. There is optimism that the conference may result in supportive measures for sectors like biotech and pharmaceuticals, where WUXI APPTEC operates.

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