Healthcare Advancing at Mid-Day; Concord Medical Services Jumps After Inclusion on Golden Dragon Index


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Healthcare stocks were higher Monday, with the NYSE Healthcare Sector Index rising 0.7% and shares of healthcare companies in the S&P 500 gaining 0.8% as a group.

In company news, shares of Concord Medical Services Holdings Ltd ( CCM ) spiked Monday after the radiotherapy and diagnostic imaging chain was one of nine stocks that will join the NASDAQ Golden Dragon China Index (HXC) next week following its quarterly re-ranking.

CCM shares were ahead more than 13% at $8.36 each in recent trade, jumping to an early top of $8.63 a share, up 17.3%. The stock has a 52-week range of $3.51 to $10.08 a share.

According to HXC, the index is intended to provide insight and access to Chinese companies while providing the transparency offered with U.S. listed securities. Other new additions are ChinaCache International Holdings Ltd. ( CCIH ); China Mobile Games and Entertainment Group Ltd. ( CMGE ), China HGS Real Estate Inc. ( HGSH ); China Finance Online Co. Ltd. ( JRJC ); Montage Technology Group Ltd. (MONT); Qunar Cayman Islands Ltd. (QUNR); Inc. (WUBA); and Xueda Education Group (XUE).

The changes become effective Monday, March 24, prior to the market open.

In other sector news,

(+) AMGN, (+1.8%) Said its experimental cancer vaccine, talimogene laherparepvec, worked to shrink injected and non-injected tumors in Phase III testing in patients with metastatic melanoma. Data was presented at a weekend conference in Phoenix.

(-) NDZ, (-2.2%) CIBC cuts investment rating to Underperform from Sector Perform.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: CCM , CCIH , CMGE , HGSH , JRJC

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