Alexa New China virus: pharmaceuticals fear amid risk of infection

Dhaka, Friday   21 February 2020


New China virus: pharmaceuticals fear amid risk of infection

 Economy Desk

 Published: 11:03 AM, 21 January 2020  



The stock markets of China pharmaceutical companies have risen sharply as the concern of new coronavirus is growing across the country.

Several pharmaceutical companies in Shanghai and Shenzen have risen their stock exchanges by 10 percent of their daily limit.

Pharmaceutical companies like Jiangsu Sihuan Bioengineering, Shandong Lukang Pharmaceutical, and Hengrui Medicine raised their stock markets by 10 percent.  

Besides, face mask manufacturers Tianjin Teda and Shanghai Dragon also rose by 10 percent.

The moves came up after the confirmation of new strain coronavirus that can spread into person to person as the number of infected people got triple over the weekend with the outbreak spreading from Wuhan to other major cities. — reports BBC. 

Meanwhile, millions of people are preparing to travel within the country and abroad for the New Year holidays. However, airlines, tours, and hotel companies in China are facing huge losses. 

Noted that the stock markets in China will be closed for five working days as the holiday “Golden Week” will begin from January 24 to January 30.