Wuxi Biologics Halted After U.S. Unverified List Sparks Rout
- Shares of Wuxi Bio plunged by a record in Hong Kong trading
- Firm says addition to the list has no impact on its business
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Wuxi Biologics Cayman Inc. shares were suspended in Hong Kong Tuesday after its inclusion to the U.S. government’s unverified list sparked a record selloff and prompted fears of a fresh hit to Sino-American relations.
The Chinese biotech giant’s stock sank as much as 32% in Hong Kong before the halt, dragging down health-care stocks and the broader equities benchmark. The CSI 300 Health Care Index dropped 1.3% to close at its lowest in nearly two years. The company has filed for trading to resume Wednesday.