WUXI APPTEC's stock soared 6.3% in intraday trading on Friday, outperforming the broader Hong Kong market. The biotech company's rally was part of a broader advance in Hong Kong stocks as investors anticipated potential economic stimulus measures ahead of a key policy meeting next week.
The Hang Seng Index rose 1% on Friday morning, with the Hang Seng Tech Index also gaining 1%. Notable gainers included WuXi Bio, up 4.1%, Trip.com Group advancing 4.1%, Li Auto rising 2%, and tech giants Alibaba and Tencent both gaining around 1%.
Investors are optimistic about potential supportive policies from the upcoming central economic work conference, where President Xi Jinping and top policymakers are expected to outline major economic policies for 2025. Priorities are likely to include addressing local government debt, the property market, boosting consumption, and promoting technological innovation.
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