$WUXI BIO(02269.HK) rose nearly four percentage points, as Hong Kong's CXO sector followed the recovery in global R&D outsourcing demand; $REMEGEN(09995.HK), $3SBIO(01530.HK), and $JIANGXI BIO(06915.HK) all fell between one and four percentage points, with innovative drugs and biologics seeing profit-taking.
$TH MEDICAL-B(02697.HK) has a different logic, falling over three percentage points. It focuses on surgical robots and medical devices, relying on product volume rather than pipeline data. Both are under the healthcare sector, but the shovel-selling CXO is rising while the pipeline-betting innovative drugs are falling. In this divergence, which side would you rather stand on? I lean towards CXO—the certainty of cash flow is more valuable in a market lacking catalysts.
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