China's Zai Lab Hong Kong stock jumps most in 16 months on revenue jump
** Hong Kong shares of China's biopharmaceutical group Zai Lab Ltd 9688.HK jump 23.9 to HK$16.30, on track for the biggest one-day pct rise since January 2023
** Stock hit the highest since March 14 on the second session of gain; second biggest pct gainer on Hang Seng Composite Index .HSCI
** The drugmaker says its net product revenue amounted to $87.1 mln for the first quarter, up 39% YoY, with strong balance sheet having a cash position of $750.8 mln as end-March
** Co says first quarter net loss was $53.5 mln, compared to net loss of $49.1 mln in the same period in 2023
** Josh Smiley, president, says Zai Lab is entering a period of robust growth with the launch of VYVGART at end of last year and multiple new products and indications expected to launch near-term
** Hong Kong's healthcare index .HSCIH surges 3.1%, Hang Seng Composite Index .HSCI rises 1.3%, Hang Seng Index .HSI adds 1.1%
** Hong Kong-listed shares down 25.4% YTD, and U.S. stock ZLAB.O down 39.4% YTD
Reporting by Donny Kwok
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