China Healthcare — Weekly recap: EASD updates on China GLP-1s

UBS China Healthcare weekly recap. During 28 September-9 October, HSHCI/HSBIO indices declined 1.8%/1.7%, while SW Healthcare A/H indices moved +0.6%/-0.8%, ranking No.13/No.26 among A/H-share sectors. TCM outperformed in both A-shares (+3.1%) and H-shares (+1.8%), driven by rotation from growth stocks toward value and dividend-paying names. Top story: the EASD 2026 Congress concluded on 2 October, highlighting China GLP-1/obesity drug updates — Hengrui's HRS-4729 triple agonist reported 16.0% weight loss at 12 weeks with differentiated 67.3% liver fat reduction; Hansoh's olatorepatide Phase 3 LIGHTEN data showed 19.3% mean weight loss at Week 48 (15mg); CR Sanjiu/BrightGene's BGM0504 showed 19.2% weight reduction at Week 52;