Hang Seng Index surges 2.04%, biotech and pharmaceutical sectors lead the market | Hong Kong stock market closing review

Ask AI · How can breakthroughs in innovative drugs ignite the biotech and pharmaceutical sector?

On April 1st, the Hang Seng Index closed up 2.04%, and the Hang Seng Tech Index rose 2.29%. Wind financial terminal shows that today, southbound funds net sold nearly 12.7 billion HKD.

In terms of sectors, the biotech and pharmaceutical sector led the gains, with Rongchang Biotech up over 15%, Junshi Biosciences up over 11%, and BeiGene up over 7%.

On the news front, according to CCTV News, in the first three months of this year, China’s total foreign licensing transactions for innovative drugs exceeded $60 billion, nearly half of the total for 2025; the National Medical Products Administration’s latest statistics show that as of March 27th, China has approved 10 innovative drugs for 2026, including 2 imports and 8 domestics. China has achieved a historic breakthrough in innovative drugs, maintaining a good development momentum and potential.

Chip stocks strengthen, with Huahong Semiconductor up over 7%, GigaDevice up over 6%, and SMIC up over 4%.

On the news front, according to 21st Century Business Herald, recently, “dramatic drop in memory module prices” trended on Weibo’s hot search. It is reported that in some channel markets, DDR4 and DDR5 memory module prices have significantly decreased, interpreted as a signal of storage market correction. However, based on comprehensive understanding, channel market fluctuations do not disturb the macro trend of ongoing storage chip shortages and rising prices. The real driver of continuous storage price increases is the contract market. “We are currently in a severe period of supply shortages,” a senior executive from a storage chip manufacturer told reporters.

Gold stocks generally rise, with Lingbao Gold up over 10%, China Gold International up over 7%. Oil and gas stocks decline, with Shandong Moluo down over 8%, and CNOOC down over 3%.

On the news front, CCTV News reports that Iranian President Raisi stated Iran is willing to end the war, but the precondition is that its demands are met, especially guarantees of non-aggression.

Stock movements

API business price hikes of 83% still see demand outstripping supply, Zhizhuo surges nearly 32% after earnings

On April 1st, Zhizhuo surged significantly, closing up 31.94%, with a trading volume close to 5 billion HKD. On the news front, Zhizhuo released its financial report on March 31st, showing that in 2025, total revenue reached 724 million RMB, a year-on-year increase of 131.9%. The MaaS API platform’s ARR hit 1.7 billion RMB (about $250 million), up 60 times year-on-year, with gross profit margin nearly five times higher at 18.9%. The report pointed out that even though API call pricing increased by 83% compared to the end of last year, the market still shows a “computing power panic” with demand outstripping supply.

Full-size humanoid robot revenue exceeded 800 million last year, UBTECH rises over 17%

On April 1st, UBTECH fluctuated upward, closing up over 17%. On the news front, UBTECH released its financial report on March 31st, showing that during the period, the company achieved operating revenue of 2B RMB, a year-on-year increase of 53.3%; gross profit margin was 37.7%, up 9 percentage points from 2024. Among them, the full-size embodied intelligent humanoid robot (not remote-controlled or toy, over 160cm tall) became the company’s largest revenue source, reaching 820 million RMB, a year-on-year increase of 2203.7%; sales volume reached 1,079 units, up 35,866.7%.