01672 Overview

Top Stock Purchases: As of February 10, 2026, South Korean investors' most purchased stock on the Hong Kong Stock Exchange is MINIMAX-WP (00100.HK) with a net purchase of approximately USD20.7 million, followed by CAM CSI300 (03188.HK) and MONTAGE TECH (06809.HK).

Shift in Investment Focus: Compared to 2025, South Korean investors are increasingly targeting China's emerging industries and tech companies, indicating a strategic shift in their investment approach.

Share Placement Announcement: ASCLETIS-B has announced a placement of 69.256 million shares at HKD12.18 per share, representing approximately 6.53% of its enlarged share capital.

Use of Proceeds: The placement is expected to raise around HKD835 million, with about 90% of the funds allocated for the preparation and launch of global Phase III trials for the obesity treatment ASC30.

Market Performance: The HSI fell 331 points (1.3%) to close at 25,434, marking a decline for two consecutive days, while the HSCEI and HSTECH also experienced losses of 1.6% and 1.9%, respectively.

Biotech Sector Resilience: Despite the overall market downturn, biotech and pharma stocks thrived, with WUXI BIO rising 1.9% and ASCLETIS-B soaring 18% after positive drug trial results.

Chip Stocks Reaction: Following US President Trump's announcement allowing Nvidia to sell H200 chips to China, chip stocks like SMIC and HUA HONG SEMI saw significant declines of 4.1% and 5.4%, respectively.

Real Estate Sector Struggles: AGILE GROUP's stock plummeted 18.4% due to a winding-up petition, impacting other Chinese developers like LONGFOR GROUP and CHINA RES LAND, which also faced notable declines.

Positive Study Results: ASCLETIS-B announced promising data from its US Phase 2a study of the oral GLP-1 drug ASC30 for obesity treatment, showing significant weight reduction in dosage groups, with the highest group achieving a 7.7% reduction.

Safety and Tolerability: The study reported no liver safety signals and low discontinuation rates due to adverse events, indicating good tolerability compared to similar drugs.

Market Reaction and Analyst Rating: Citi expects a positive stock price reaction following the study results and has reiterated a Buy/High Risk rating for ASCLETIS-B, setting a target price of HKD32.

Short Selling Information: The stock has experienced short selling of $5.43 million, with a ratio of 8.870%, indicating some market skepticism despite the positive study outcomes.

Company Announcement: ASCLETIS-B reported positive topline results from its 13-week Phase II study of ASC30, an oral GLP-1 drug aimed at treating obesity.

Market Reaction: Following the announcement, the company's share price surged, opening 14.9% higher and peaking at $17.6 before closing at $17.51, marking a 22.19% increase.

Trump Administration's Drug Policy Discussion: Goldman Sachs reported that the Trump administration is considering restrictions on Chinese pharmaceuticals and drafting an executive order to limit the entry of innovative Chinese drugs into the US market, although a White House spokesperson stated that the government is not actively pursuing this draft at the moment.

Impact on Chinese Biotech Sector: Goldman Sachs believes that potential restrictions could create "headline risks" for the Chinese biotech and pharmaceutical sector, leading to increased stock price volatility, especially as major US pharmaceutical companies lobby against the proposed order.

Categorization of Chinese Biotech Companies: The report categorizes Chinese biotech firms into three groups based on their global presence and partnerships, with varying levels of expected impact from the potential restrictions.

Market Reactions and Short Selling Data: The article includes specific stock performance and short selling data for various companies within the categorized groups, indicating market sentiment and potential risks associated with the evolving regulatory landscape.