0713 GMT - China's recent AI breakthrough could boost the efficiency of its healthcare sector and enable other potential novel services, Jefferies analyst Cui Cui says in an email. Chinese health-tech stocks are broadly higher in Hong Kong, with Alibaba Health Information up 25% and Ping An Health and Technology gaining 14%. Chinese contract drug makers WuXi AppTec and WuXi Biologics are 8.4% and 11% higher, respectively. Although these stocks aren't direct beneficiaries of the AI concept, they are likely rallying on their significant underweight positions and the fundamental shift in market sentiment after the Biosecure Act wasn't passed under the Biden administration, Cui adds. Her top industry picks in 2025 are WuXi Bio due to its better new order growth momentum and JD Health because of its AI development potential. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
February 14, 2025 02:13 ET (07:13 GMT)
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