China’s Covid Drugmakers Shares Jump Amid Concern Over New Virus Wave
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Growing concerns that China may be facing a new Covid wave fueled a surge in shares of the nation’s drugmakers Monday as the public fretted over waning immunity.
Xinxiang Tuoxin Pharmaceutical Co. jumped as much as 20% in Shenzhen, while Hybio Pharmaceutical Co. rallied 15%. The gains bucked a decline in the broader market as risk sentiment subsided, with the CSI 300 benchmark falling 1.6%.