Geopolitical conflicts continued, with more hawkish signals released from the minutes of the Federal Reserve meeting, technology stocks came under pressure again, and Hong Kong stocks continued their decline yesterday as a whole. The Hang Seng technology index fell 2.48% and fell another 4500 points. The Hang Seng Index closed down 1.23%, also below 22000 points.
Large technology stocks generally fell, and only Ctrip group closed up among the constituent stocks of Hang Seng technology index. Kwai data fell nearly 8%, beep, fast hand fell more than 4%, Baidu, Jingdong fell 3%, Alibaba fell 2%. Although it has spent about HK $2.4 billion to buy back shares for eight consecutive trading days since March 25, Tencent’s share price is still weak, falling another 1.73% today.
Kaifa pharmaceutical, which rose sharply for two consecutive days, made a sharp correction and closed down 24.78%. Other anti epidemic concept stocks also fell to varying degrees.
Members of the International Energy Agency will coordinate the release of 120 million barrels of oil. Oil prices fell and oil stocks fell. Some non-ferrous metal stocks strengthened, while Minmetals resources and China’s non-ferrous mining industry rose sharply.
cooperation with AstraZeneca
and platinum medicine rose against the trend
Despite the overall weakness of the pharmaceutical sector, some stocks rose well with the support of good news.
The company and AstraZeneca entered into a global external licensing agreement to develop and commercialize the new bispecific antibody hbm7022 produced by the immune cell adaptor platform for HCAB, according to an announcement released in front of the platinum pharmaceutical sector. Affected by the good news, and platinum medicine rose 60% in early trading, and then narrowed the increase to close up 13.24% to HK $4.19.
According to the agreement, AstraZeneca will obtain the global exclusive license for the research, development, registration, manufacturing and commercialization of hbm7022, and will be fully responsible for all costs and activities related to its further development and commercialization. And platinum pharmaceutical has the right to charge AstraZeneca $25 million in advance and up to $325 million after reaching development, regulatory and commercial milestones. The company also has the right to charge graded royalties.
And platinum medicine is focused on the development of immune and tumor antibodies. The announcement mentioned that hbm7022 is currently in the preclinical stage and is a bispecific antibody against tumor associated antigen (claudin 18.2) and CD3.
And platinum medicine said that hbm7022 uses bivalent high affinity anti claudin18 2 and monovalent low affinity anti-CD3 structure, while ensuring high killing activity, reduce the risk of cytokine storm. Preclinical studies have shown that the antibody is not only effective against a variety of claudin18 2 positive gastric cancer has significant cytotoxicity, and also has a significant effect on pancreatic cancer and Claudin18.. 2 mutant gastric cancer has a good effect.
first quarter net profit halved
smore international fell more than 7%
Electronic cigarette leader smore International announced on April 6 that it disclosed updated financial data. As of March 31, its net profit fell by 55.3% year-on-year.
Smore International said that the main reason for the decline in net profit was that in the first quarter of this year, some regions in Shenzhen adopted more stringent epidemic control measures, which had a great impact on the production and operation of some factories, negatively affecting the production and shipment plans in the first quarter, and then affecting the income. However, the company expects that these impacts are temporary and will not affect the production and shipment plan of the whole year. At the same time, according to the R & D plan and budget formulated at the beginning of the year, the R & D expenditure in the first quarter also increased significantly year-on-year. The company believes that the increase pointed out in R & D will help it maintain its technological leading edge in the field of atomization, broaden the application field of atomization technology and enhance its long-term competitiveness.
The market reacted significantly to the decline in performance in the first quarter. The share price of SIMORE international fell more than 7% to close at HK $16.96, approaching a 52 week low of HK $14.22.
Affected by the sharp decline in the performance of SIMORE international, the share price of its second largest shareholder Eve Energy Co.Ltd(300014) ( Eve Energy Co.Ltd(300014) . SZ) also fell 5.83%.
