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<Research>JPM Sees Profit-Taking Actions in CN Pharma Sector as Entry Opportunity
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Regarding yesterday's (23rd) hefty sell-off among Chinese biotech and pharmaceutical stocks, JPMorgan said in its report that it seemed to have been sparked by profit-taking decisions as a result of position adjustments rather than any fundamental deterioration. JPMorgan considered this pullback as a good entry opportunity to build positions in China's healthcare sector ahead of the next wave of catalyst-driven upside. The broker preferred the biotech and CXO (clinical trial service providers) sub-sectors, with INNOVENT BIO (01801.HK), SKB BIO (06990.HK), WUXI APPTEC (02359.HK), and WUXI XDC (02268.HK) as its top picks. Auto-translated by AI AASTOCKS Financial News |
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