HK's Traditional Chinese Medicine jumps on approval for product to treat coronavirus

China Traditional Chinese Medicine Holdings Co

10/02/2020 02:30

** China Traditional Chinese Medicine Holdings Co Ltd's
 0570.HK  shares jump as much as 15.3% to HK$4.89, the highest
since April 15 last year, on track for the 6th consecutive
session of gains 
    ** Traditional Chinese medicine (TCM) maker's shares are the
10th most actively traded stock in early trade  
    ** Says Chinese authorities approved clinical use of its
product, Toujie Quwen Granules, in hospitals for treating and
mitigating clinical symptoms of the new coronavirus pneumonia (https://bit.ly/39qqkeV)
    ** Says China's National Health Commission has been
selecting effective TCM prescriptions and finished drugs to deal
with the new virus 
    ** Stock is up 12.8% so far this year, as of last close 
    ** China Traditional Chinese Medicine has outperformed the
Hang Seng Utilities Index sector  .HSNU  by 15.5 percentage
points in the past one month
    ** The Hang Seng China enterprises index  .HSCE  falls 1.1%
on Monday, while the Hong Kong benchmark index  .HSI  eases 0.9%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)