Alphamab Oncology leads slide in HK pharma stocks on Trump's plan to trim medicine prices

Shares of Alphamab Oncology 9966.HK drop 14.4% to HK$6.28, their lowest point since April 11, and leading slide in Hong Kong-listed pharmaceutical stocks

Hang Seng Hong Kong-listed Biotech Index .HSHKBIO down as much as 4.3% before trimming loss and is down 2.5% in late trade

U.S. President Donald Trump said on Sunday he would sign an executive order to cut prescription prices to the level paid by other high-income countries, an amount he put at 30% to 80% less

Hong Kong-listed shares of Beigene 6160.HK and Hansoh Pharmaceutical 3692.HK drop 8.1% and 7.4%, respectively

Shares of Genscript Bio 1548.HK, CSPC Pharma 1093.HK, Akeso 9926.HK, Innovent Bio 1801.HK and 3SBIO 1530.HK fall between 2.8% and 6.5%