Hong Kong biotech shares rallied: Kangfang Bio (09926.HK) rose over 7%; Rongchang Bio (09995.HK) and Tigermed (03347.HK) gained more than 4% each; Junshi Biosciences (01877.HK), WuXi AppTec (02359.HK) and several peers advanced over 3%; NuoCheng Jianhua (09969.HK) and Fuhong Hanlin (02696.HK) also climbed. U.S. President Trump said on social media on July 21 that all imported generic drugs will continue to be subject to zero tariffs for two years starting Aug. 1, 2026; after that two-year period

Hong Kong biotech shares rallied: Kangfang Bio (09926.HK) rose over 7%; Rongchang Bio (09995.HK) and Tigermed (03347.HK) gained more than 4% each; Junshi Biosciences (01877.HK), WuXi AppTec (02359.HK) and several peers advanced over 3%; NuoCheng Jianhua (09969.HK) and Fuhong Hanlin (02696.HK) also climbed. U.S. President Trump said on social media on July 21 that all imported generic drugs will continue to be subject to zero tariffs for two years starting Aug. 1, 2026; after that two-year period the products would face a 100% tariff for one year, then a 200% tariff thereafter.