The Zhitong Finance App learned that the three major indices of Hong Kong stocks rose collectively today. The world's first phase III clinical mRNA cancer vaccine successfully detonated the vaccine sector, and both innovative drugs and AI medical concepts strengthened. At the close, the Hang Seng Index rose 0.8% or 203.42 points to 25698.49 points, with a full-day turnover of HK$269.119 billion; the Hang Seng State-owned Enterprises Index rose 0.9% to 8547.84 points; and the Hang Seng Technology Index rose 0.39% to 4700.53 points.
Societe Generale Securities pointed out that the core drivers of the current rise in Hong Kong stocks are still undervaluation repairs, capital rebalancing, and a reversal of extreme sentiment, and a complete reversal driven by widespread profit revisions has yet to be formed. The long-term PE of the Hang Seng Index has been restored from 9.7 times at the end of June to 10.5 times, returning to close to the long-term average; although Hang Seng Technology PE rose to 16.1 times, it is still about 0.9 times below the historical average, and the margin of safety is relatively higher.
Blue-chip stock performance
China Biopharmaceutical (01177) performed well after the results. At the close, it rose 12.53% to HK$5.39, with a turnover of HK$2.11 billion, contributing 9.58 points. According to the Yamato Research Report, China Biopharmaceuticals' adjusted net profit (excluding dividend revenue) increased 92.3% year on year to RMB 3.34 billion in the first half of the year, far exceeding the bank's and market expectations, mainly due to the increase in gross margin of product sales to 88.6% from 84% in the same period last year. Furthermore, after several years of investment, the company's AI has significantly saved costs and improved efficiency, and AI has improved the promotion efficiency of commercial teams by 30%.
In terms of other blue chips, CSPC Group (01093) rose 9.61% to HK$9.52, contributing 10.29 points to the Hang Seng Index; Zijin Mining (02899) rose 5.33% to HK$36.76, contributing 16.98 points to the Hang Seng Index; China Resources Beer (00291) fell 2.47% to HK$20.54, dragging down the Hang Seng Index by 1.26 points; SMIC (00981) fell 1.23% to HK$72.1, dragging down the Hang Seng Index by 5.78 points.
Popular sector aspects
On the market, phase III clinical trials of the world's first mRNA cancer vaccine successfully detonated the vaccine sector, which boosted the AI medical concept. At the same time, many innovative pharmaceutical companies performed higher, and Chinese biomedical and petrochemical groups performed strongly after performance; the US Treasury expanded long-term bond repurchases, and falling interest rates on US bonds boosted the rise in gold prices, and the gold and precious metals sector showed impressive performance; Bitcoin was approaching 70,000 US dollars, and cryptocurrency spot and futures ETFs showed the highest increase. On the other side, paper stocks had the highest decline, while stocks of tobacco, animal husbandry feed, and automobile dealers rose.
Innovative drugs and AI medical concept stocks both strengthened. At the close, Genting Xinyao (01952) rose 41.43% to HK$33.66; Kingsley Biotech (01548) rose 13.62% to HK$33.36; Jettech Technology-P (07666) rose 27.99% to HK$15; Insili Smart (03696) rose 12.13% to HK$44.2; and Jingtai Holdings (02228) rose 11.27% to HK$8.045.
Moderna and MSD announced on Wednesday that the first phase III clinical trial of the personalized mRNA cancer vaccine intismeran autogene, which they have collaborated on, obtained initial positive results. Huachuang Securities believes that this move marks a formal leap forward in mRNA technology from the field of infectious diseases to the field of precise cancer treatment. The core breakthrough is that the rapid, flexible, and multi-antigen coding capability of the mRNA platform has been used to achieve a truly “one person, one drug” personalized cancer vaccine; through collaboration with PD-1 inhibitors, the risk of recurrence has been reduced by nearly 50% in adjuvant treatment of melanoma, and the curative effect can last at least 5 years.
Gold stocks rose again. At the close, Zijin Gold International (02259) rose 11.25% to HK$148.3; Lingbao Gold (03330) rose 5.99% to HK$23.36; Shandong Gold (01787) rose 5.86% to HK$25.28; and Zhaojin Mining (01818) rose 6.13% to HK$25.26.
The US Treasury Department announced that it will expand the repurchase scale of longer-term treasury bonds and “at least double the scale of liquidity support repurchase operations” for 10-year to 30-year treasury bonds. Affected by this news, US 30-year Treasury yields fell in response, and the US dollar index declined at the same time. Chaos Tiancheng Futures said that the current expansion of the scale of repurchase operations reflects the Ministry of Finance's desire to provide stronger liquidity support for the long-term nominal treasury bond market. Although the intensity was relatively limited, the significance of the guidelines exceeded expectations. By issuing short-term bonds and buying back long-term bonds, the yield on long-term US bonds was lowered. Interest rates on US bonds and the US dollar index declined in response, and precious metals rebounded markedly.
Auto stocks are picking up collectively. At the close, Ideal Automobile-W (02015) rose 5.53% to HK$50.55; Rantu Auto (07489) rose 4.11% to HK$2.91; NIO SW (09866) rose 4.49% to HK$36.34; and Xiaopeng Group-W (09868) rose 4.09% to HK$47.82.
On the policy side, recently, 9 departments including the Ministry of Commerce officially issued “Opinions on Further Stimulating Sinking Market Vitality and Active Consumption in Counties”, which clearly proposed strong support for new energy vehicles to go to the countryside and expand the coverage of charging facilities in rural areas. This is another major implementation policy after the 2026 Central Committee Document No. 1 included new energy vehicles as a key support area for rural revitalization for the first time. On the export side, the cumulative sales volume of new energy vehicles reached 9.07 million units in January-July, with a cumulative penetration rate of 51.2%, exceeding 50% for the first time. Zhongyuan Securities pointed out that in July, automobile exports were the core engine of the industry. The penetration rate of new energy reached a new high of 60%, compounded by healthy inventory removal, and the industry was undergoing phased structural adjustments
Popular exotic stocks
Siludi Pharmaceutical Co., Ltd. (01244) soared in volume. At the close, it was up 56.88% to HK$3.42.
The MSD mRNA cancer vaccine phase III trial successfully directly detonated the global pharmaceutical sector. Siludi Pharmaceuticals has been on the cancer circuit for a long time. From the world's first subcutaneous PDL1 injection to the world's first WT1 tumor vaccine, the self-built LNP delivery system and AI-tumor vaccine screening platform, In-vivo Car T/NK, etc. all aim at the cutting edge of the world and resonate at the same frequency with the world's top tumor immunity racetracks.
Haizhi Technology Group (02706) performed well. At the close, it was up 15.19% to HK$44.6.
Palantir's revenue for the second quarter of this year soared 94% year over year, and the company sharply raised its annual sales forecast to US$8.16 billion, far exceeding market estimates. The market generally refers to Haizhi Technology as the “Chinese version of Palantir,” and the two are highly compatible with the underlying technology and the business model of government and enterprise services. Haizhi Technology undertakes enterprise data assets with a map base, uses intelligent products to enter business process execution, and builds a full-stack capability of “data governance - knowledge modeling - graph reasoning - agent execution”.
DESHI-B (02526) strengthened throughout the day. At the close, it was up 27.05% to HK$421.8.
Deshi's model service revenue in the first half of the year reached 94.541 million yuan, a year-on-year increase of 101.1%. The share of total revenue increased from 52% in the same period last year to 87%, which is the core engine driving revenue growth in the current period. Currently, Deshi has developed a large iMediimage® medical imaging base model with 100 billion parameters, covering 19 medical imaging modes and 26 clinical specialties.
CNOOC Petrochemical (03983) declined after its performance. At the close, it was down 7.64% to HK$1.995.
CNOOC Petrochemical announced interim results. Revenue for the first half of the year was 5.619 billion yuan, a year-on-year decrease of 3.95%. Profit attributable to company owners was 507 million yuan, a year-on-year decrease of 20.78%. The current restrictions on chemical fertilizer exports are compounded by the low season for domestic agricultural fertilizer, making profit pressure difficult to ease in the short term.