Trump, Xi talks boost Chinese biopharma stocks

Chinese biopharma stocks rose on Friday following trade discussions between President Donald Trump and Chinese President Xi Jinping.

On Friday, double-digits gainers included Innovent Biologics Inc. (HKSE:1801), which added HK$1.76 (10%) to HK$18.72; WuXi Biologics Inc. (HKSE:2269), which jumped HK$6.70 (12%) to HK$64.10; and Sino Biopharmaceutical Ltd. (HKSE:1177), which gained HK$0.81 (11%) to HK$8.19. Innovent’s first day of trading was Wednesday (see “Innovent Shares Rise”)...