A Chinese biotech firm that soared more than 4,500 per cent in the three months since its Hong Kong debut, has stoked fears of a speculative bubble in China healthcare stocks.<\/p>\n
Shares of TransThera Sciences soared as much as 64 per cent to HK$679.50 in Hong Kong trading on Tuesday, after pricing at just HK$13.15 in late June \u2013 a more than 50-fold gain that has made it the top performer on the Hang Seng Healthcare Index this year.<\/p>\n
TransThera noted the \u201cunusual movements\u201d in its share price in an announcement on Tuesday, while confirming \u201cbusiness operation remained normal\u201d.<\/p>\n
The blistering rally highlighted investor appetite for China\u2019s biotech initiatives amid a red-hot Hong Kong equity market, but it also heightened concerns about lofty valuations in a sector still fraught with drug development risks.<\/p>\n
In the company\u2019s latest interim report, TransThera posted zero revenue for the period ending June 30.<\/p>\n
\u201c4,000 per cent in three months is definitely crazy,\u201d said Haris Khurshid, chief investment officer at Chicago-based Karobaar Capital. \u201cBut it says more about sentiment than fundamentals.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"A Chinese biotech firm that soared more than 4,500 per cent in the three months since its Hong…\n","protected":false},"author":2,"featured_media":25066,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[576,72,114,113,103,397,396,240,61,60,166,43,387,10178,850,80,90,386],"class_list":["post-25065","post","type-post","status-publish","format-standard","has-post-thumbnail","category-healthcare","tag-asia","tag-business","tag-china","tag-economy","tag-health","tag-health-care","tag-healthcare","tag-hong-kong","tag-ie","tag-ireland","tag-lifestyle","tag-news","tag-opinion","tag-south-china-morning-post","tag-sport","tag-technology","tag-us","tag-world"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/25065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=25065"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/25065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/25066"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=25065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=25065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=25065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}