On Monday, the Hang Seng Biotech Index rose over 5%, with Innovent Biologics up 6%, Akeso up 8%, CSPC Pharmaceutical Group up over 6%, Hutchmed up 3%, and Sino Biopharmaceutical up 8%. This follows reports that the U.S. Treasury Department is drafting rules that could allow U.S. pharmaceutical companies to continue licensing most drugs developed by Chinese companies, excluding those related to pathogens or weaponizable biotechnology.