WUXI BIO, a leading biotech company, saw its stock surge 7.10% in Tuesday's intraday trading session as investors anticipated potential economic stimulus measures from Chinese policymakers.
According to the news report, China's top leaders are set to convene the annual Central Economic Work Conference next week to map out economic targets and stimulus plans for 2025. Investors are betting that authorities will announce supportive policies, such as a higher fiscal deficit target and increased government borrowing, to shore up the faltering economy.
The biotech sector, including WUXI BIO and its affiliate WUXI APPTEC, rallied on expectations that these potential stimulus measures could provide a boost to various industries, including healthcare and technology.
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