From South China Morning Post:

Hong Kong stocks slipped as a US Senate committee advanced a bill targeting Chinese biotech firms, causing Wuxi Biologics and Wuxi AppTec to plunge. Hang Seng Index closed 1.3% lower at 16,190.34. Wuxi Biologics sank 20.2% while Wuxi AppTec tumbled 20%. JD.com jumped 6.1% after strong earnings and a $3 billion buy-back plan.

The market setback this week brought losses to 2.2% following a 6.6% jump last month. Concerns persist about the lack of fiscal stimulus during China’s parliamentary meeting. Market intervention raises red flags for Chinese equities. Other Asian markets were mixed, with Japan’s Nikkei 225 down 1.2% and Australia’s S&P/ASX 200 and South Korea’s Kospi Index gaining about 0.2% after the US central bank hinted at policy changes.



Read more at South China Morning Post: Hong Kong stocks hit by geopolitics as China’s biotech companies in US lawmakers’ cross hairs