BUZZ-WuXi AppTec leads slide in biotech shares as US bill to restrict business passes House

Reuters09-10

** Hong Kong shares of WuXi AppTec Co Ltd drop 10.6% to HK$32.15, their lowest since Aug. 26, after U.S. bill to restrict business with WuXi passes House

** Shenzhen stock fall 3.3%

** The U.S. House of Representatives on Monday passed a bill that aims to restrict business with China's WuXi AppTec, BGI and several other biotech companies on national security grounds

** Wuxi Apptec reiterates that it does not have a human genomics business and does not pose pose a security risk to the United States or any other country

** Other biotech shares also drop with WuXi Biologics

falls 7.6%, MGI declines 1.9% and BGI Genomics down 2%

** In China, the blue-chip CSI 300 Index and the Shanghai Composite Index both slip 0.2%, vaccine and Biotech Index slip 0.6% and CSI Bio-medicine Index

down 1%

** In Hong Kong, Hang Seng Index eases 0.2%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment