{Market Preview}Pharma stocks is ok for short-term trading

  The Hang Seng Index reported 18,538 in the morning session, up 224 points or 1.2%. The main board turnover exceeds HKD 69.4 billion. The Hang Seng China Enterprises Index reported 6,561, up 105 points or 1.6%. The Hang Seng Tech Index reported 3,946, up 74 points or 1.9%.
  The top three traded stocks on the HSI are Tencent (00700), Meituan (03690), and Alibaba (09988). Tencent closed at HKD 368.6, up HKD 7.2 or 2%, with a turnover of HKD 3.211 billion. Meituan closed at HKD 118.4, up HKD 4.9 or 4.3%, with a turnover of HKD 2.415 billion. Alibaba closed at HKD 76.55, up HKD 0.4 or 0.5%, with a turnover of HKD 2.21 billion. The top three traded stocks on the Hang Seng China Enterprises Index are Tencent, Meituan, and Alibaba. The top three traded stocks on the Hang Seng Tech Index are Tencent, Meituan, and Alibaba.

"Cheung Chi Wai: Hang Seng Index adjustment does not fall below upward gap, trend continues to improve"

  After a two-day pullback, Hong Kong stocks rebounded strongly this morning. The Hang Seng Index opened slightly lower but turned upward, with the mid-day gain expanding to over 200 points. Multiple sectors saw a collective recovery, with property stocks and pharmaceutical stocks showing gains across the board. Cheung Chi Wai, a joint managing director at Prudential Brokerage Ltd, told ET Net News Agency that there has been a rebound in the Hang Seng Index after the two-day adjustment, mainly because the technical trend was not disrupted during the adjustment period. It did not fall below the bottom of the upward gap formed on 2-3 May at 18,217. In terms of funds, the daily trading volume of the overall market remains above HKD 100 billion, and the net inflow from southbound funds continues. In the short term, an optimistic view is maintained, with a forecast of the Hang Seng Index aiming for 19,000 this month.

"BeiGene's short-term target is at HKD 108"

  BeiGene (06160) announced a first-quarter loss of USD 250 million according to US Generally Accepted Accounting Principles, narrowing from a loss of USD 350 million in the same period last year. Total revenue for the quarter reached USD 752 million, a 68% increase, mainly driven by sales growth of BRUKINSA in the United States and Europe, which increased by 1.5 and 2.4 times year-on-year, respectively. Gross profit was approximately USD 630 million, accounting for 83% of the company's global product revenue.
  The performance has driven the stock price to rise by up to 7% in the first half of the day, returning to the list of $100 or above. Cheung Chi Wai pointed out that BeiGene has already surpassed the high point made earlier this week, and the technical trend continues to improve, with a potential challenge to the high point of HKD 108. However, he noted that BeiGene's main revenue comes from its products in the United States and Europe, and in an election year in the United States, Chinese biotech companies are expected to face continued pressure as a bargaining chip to gain votes. Therefore, a cautious approach should be taken with pharmaceutical stocks in the medium term, and short-term trading should be the primary focus.