China and Hong Kong stocks rebound on healthcare, tech strength
Business
After China's tough drop yesterday, Chinese and Hong Kong stock markets made a comeback today, thanks mostly to strong gains in healthcare and tech.
By midday, China's CSI 300 was up 0.2%, Shanghai Composite edged up 0.3%, and Hong Kong's Hang Seng jumped 1.5%.
Kospi soars 7%, biotech surges
Big wins in Asia set the mood: South Korea's Kospi soared 7% and Japan's market rose 1%.
Healthcare stocks got a boost from new cancer breakthroughs by Moderna and Merck, sending biotech indexes up as much as 10%.
Tech shares also bounced back, with China's STAR100 Index rising nearly 3%.
Plus, some Chinese companies, like Foxconn Industrial Internet, were among companies announcing measures aimed at supporting their share prices to help steady things after Wednesday's selloff.