Hong Kong biotech stocks were under pressure overall today, while on the US side, some biotech stocks surged significantly: Insilico Medicine fell 6.8%, Hengrui Pharmaceuticals fell 2.7%, Akeso fell 0.7%, and 3SBio rose 0.5%.
On the US side, Sagimet and Veradermics surged today due to specific catalysts. There was no new news on the Hong Kong side, so sentiment followed the broader market lower.
The pricing on both sides was completely disconnected today. Is it a problem with the Hong Kong market's liquidity environment, or are the two markets waiting for different signals?
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