Nov 09, 2023 05:04 PM

FINANCE

China Health Care Stocks on Road to Recovery After $142 Billion Rout

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Strong earnings and cheap valuations have helped rekindle enthusiasm for health care stocks amid a background of an aging population and expanding middle class. Photo: Bloomberg

Strong earnings and cheap valuations have helped rekindle enthusiasm for health care stocks amid a background of an aging population and expanding middle class. Photo: Bloomberg

(Bloomberg) — Chinese health care stocks are back in vogue after a $142 billion wipeout, as signs grow that the worst of a government crackdown is over.

The Hang Seng Composite Healthcare Index, dominated by Chinese companies, has rallied 14% in the past month, having plunged 37% from a January peak after Beijing launched an anti-graft clampdown on the pharmaceutical sector.

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