The Zhitong Finance App learned that CRO concept stocks had the highest gains. As of press release, Yao Ming Kangde (02359) rose 6.28% to HK$42.3; Pharmaceutical Biotech (02269) rose 5.52% to HK$14.92; Kingsley Biotech (01548) rose 4.86% to HK$12.52; Kanglong Chemical (03759) rose 4.93% to HK$11.5.
According to the news, last Friday local time, US House Republican Member Brad R. Wenstrup initiated a new version of the Biosafety Act (H.R. 8333). The US House Supervisory and Accountability Committee plans to hold a hearing on the evening of May 15 to discuss and vote on various bills, including the Biosafety Act (H.R. 8333). Notably, content related to the 8-year exemption period has been added to the new version of the Biosafety Act.
Minsheng Securities believes that the updated Biosafety Act of the House of Representatives establishes an 8-year exemption period, and the negative risks of short-term overseas policies will be implemented. The bank believes that increasing the grandfather clause is conducive to a soft landing of CXO's overseas supply chain risks. The sector may usher in a valuation repair, combined with a Q1 boost in global investment and financing and domestic innovation policy support. The CXO sector's performance will pick up quarterly in 2024.