Pursuits
BaWang Halts Trading, Shares Drop on Shampoo Cancer-Risk Report
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BaWang International (Group) Holding Ltd., China’s largest herbal shampoo maker, halted trading after its shares fell by a record in Hong Kong on a report that two of the company’s products contain a substance that may cause cancer.
BaWang, which said today that the amounts of the substance are too small to affect human health, slid 14 percent to HK$5.05 at the noon trading break. That was the steepest decline since the shares debuted July 3, 2009. The stock was the biggest loser on the Hang Seng Composite Index, which gained 1 percent.