Business & Finance
China Healthcare Stocks Fall to Record Low Valuation on AI Drain
Key Points
China Healthcare Stocks Fall to Record Low Valuation on AI Drain China’s healthcare stocks have slumped to their cheapest level ever, as a rush into local artificial intelligence beneficiaries draws capital away from defensive sectors. The CSI Health Care Index is now trading at about 2.7 times price to book, slipping below even the low set during the global financial crisis. Meanwhile, a popular index of Chinese tech stocks trades at around 8 times.
China Healthcare Stocks Fall to Record Low Valuation on AI Drain
China’s healthcare stocks have slumped to their cheapest level ever, as a rush into local artificial intelligence beneficiaries draws capital away from defensive sectors.
The CSI Health Care Index is now trading at about 2.7 times price to book, slipping below even the low set during the global financial crisis. Meanwhile, a popular index of Chinese tech stocks trades at around 8 times.