China investors energise Hong Kong biotech stocks. Is foreign money missing out?

South China Morning PostEN 1 min read 100% complete by Julie ZhangMarch 10, 2026 at 12:30 AM

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Mainland Chinese investors now have access to more Hong Kong-listed biotech and pharmaceutical stocks through the Stock Connect program, following a recent reshuffle that added at least 13 healthcare companies to the southbound trading list on Monday. This expansion reflects the growing importance of the biotech sector in Hong Kong. Analysts note that mainland buyers are driving the recent healthcare rally, particularly in smaller-cap companies. However, foreign investors remain cautious about China's biotech sector, preferring to invest in larger pharmaceutical companies with strong pipelines. The Stock Connect program allows mainland investors to trade shares listed in Hong Kong through exchanges in Shanghai and Shenzhen.

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Shanghai Stock Exchange 40% Shenzhen 40% Shanghai 40% Xuanzhu Biopharmaceutical 50% Insilico Medicine 50% CARsGen Therapeutics 50% China Merchants Securities (Hong Kong) 60% Stock Connect ×370% Jonah Chen ×270% Hong Kong ×580% China ×290%

Keywords

biotech stocks 90% china investors 80% hong kong 70% stock connect 70% foreign capital 60% pharmaceutical companies 60% healthcare 60% out-licensing deals 50% drug discovery 50% car-t cell therapy 40%