Promising coronavirus vaccine makes Chinese bio firm the hottest stock in Hong Kong

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A 380% surge in CanSino Biologics Inc. this year has made it the hottest stock in Hong Kong.

Shares of the Chinese vaccine maker have outperformed all other companies with a market capitalization exceeding $2 billion, according to data compiled by Bloomberg. The rally has accelerated in recent days, after the company said Health Canada approved its clinical trial application for a coronavirus vaccine. On Thursday, the stock jumped as much as 16% while setting up for an 11th straight day of gains.

It’s also the second-most overbought stock among the mid-cap and big-caps in Hong Kong after Tsim Sha

Read more    Source: fortune.com

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