Chinese biotech firm BeiGene has 3.9 per cent of its cash frozen in the collapse of Silicon Valley Bank. Photo: Xiaomei Chen
Chinese biotech firm BeiGene has 3.9 per cent of its cash frozen in the collapse of Silicon Valley Bank. Photo: Xiaomei Chen
China stock market
Business /  Banking & Finance

Tencent, Alibaba, AIA fuel Hong Kong market rally while BeiGene erases loss amid Silicon Valley Bank fallout

  • Chinese tech stocks outlook brightens on consensus earnings upgrade, favoured by Goldman Sachs; Xpeng and Weibo gain on index inclusion event
  • BeiGene had 3.9 per cent or about US$175 million, of cash frozen in failed lender Silicon Valley Bank; more than 10 others have some minimal deposits

Mia Castagnone
Mia Castagnone

Updated: 5:39pm, 13 Mar, 2023

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Chinese biotech firm BeiGene has 3.9 per cent of its cash frozen in the collapse of Silicon Valley Bank. Photo: Xiaomei Chen
Chinese biotech firm BeiGene has 3.9 per cent of its cash frozen in the collapse of Silicon Valley Bank. Photo: Xiaomei Chen
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