Guotai Asset Management says China innovative drug stocks pull back after rally, sees dip-buying window
XBI•XBI•XBI•XBI•The medium-term outlook stayed constructive, citing strong CXO demand, active dealmaking, easing FDA oversight, earnings resilience, and scope for phased dip buying.
Guotai Asset Management flagged a pullback in China’s innovative drug stocks, framing it as profit-taking following a sharp prior-day rally.
Rising US Treasury yields drove risk-off pressure; the 30-year yield hit 5.25%, and the 10-year rose to 4.7%.
US biotech sentiment weakened in tandem; the SPDR S&P Biotech ETF (XBI) fell 3.64%.
Rotation out of vaccine names accelerated as investors reassessed A-share vaccine exposure to mRNA oncology breakthroughs.
