MiRXES, which is engaged in early detection of cancer and other diseases, rose by about 29% on the first day of listing in Hong Kong on May 23. The stock price rose further this week. When the market closed on Friday, it was 49% higher than the offering price of HK$23.3, reaching HK$34.65.
This makes people notice that a Singaporean biotech has recently listed in Hong Kong and its stock price has performed quite well so far.
Many health care and medical stocks in Singapore have seen significant gains recently, expanding their gains this year. The share price of Cordlife, a cord blood bank company, has doubled this year, and fell 3.2% from a high of about one and a half years ago to 0.30 yuan on Friday (June 20).
In addition to Kangsheng Life Group, medical stocks with considerable recent gains include skin and medical beauty companies Niks Professional, Q&M Dental Group, and Singapore Paincare Holdings, which have risen 7% to 40% in the past month and 25% to 100% this year.
Other medical stocks that have not risen recently but have gained considerable this year, including Raffles Medical Group and ECON Healthcare, have gained 12% and 49% respectively this year.
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