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Market Pullback: China healthcare stocks have seen a significant decline since early October, with the Hang Seng Healthcare Index down 12% and the CSI 300 Healthcare Index down 9%, contrasting with a minor drop in the HSI and a rise in the CSI 300 Index.

Contributing Factors: The pullback is attributed to increased US-China tensions, geopolitical risks leading to profit-taking by investors, and uncertainties surrounding the US Biosecure Act affecting pharmaceutical outsourcing.

JPMorgan's Outlook: Despite the current pullback, JPMorgan believes it will create favorable conditions for next year's performance, highlighting several top stock picks in the healthcare sector.

Highlighted Stocks: JPMorgan's recommended stocks include AKESO, HANSOH PHARMA, WUXI APPTEC, INNOVENT BIO, and HENGRUI PHARMA, with varying short selling ratios indicating market sentiment.

Interim Analysis Presentation: AKESO presented promising interim analysis data from the HARMONi-6 study at The Lancet & ESMO on October 19, as reported by CICC.

Protocol Revision: The company revised the HARMONi-3 trial protocol to allow for an independent statistical analysis based on histological types, which is expected to expedite clinical data acquisition.

CICC's Rating and Target Price: CICC maintained an Outperform rating for AKESO but reduced its target price by 18.2% to HKD184, citing a downward adjustment in the valuation center for innovative drugs in the Hong Kong market.

Short Selling Data: As of October 21, AKESO had a short selling amount of $138.45M with a ratio of 8.670%.