Alibaba Health drops most in 11-mth on concern over measures, JD Health dips

JD Health International

22/06/2022 08:57

** Shares of pharmaceutical e-commerce platform operator 
Alibaba Health Information Technology Ltd  0241.HK  fall as much
as 16.9% to HK$4.62, the biggest daily percentage drop since
July 27 last year, on concern over measures aiming at the
pharmaceutical e-commerce platform
    ** Stock on course to snap three straight sessions of fall;
biggest percentage decliner in the Hang Seng Index  .HSI  and
the second-biggest decliner in the Hang Seng Tech Index
 .HSTECH 
    ** Daiwa says the public consultation period of the
"Implementation Measures of Pharmaceutical Goods Administration"
aiming to clarify the responsibilities of stakeholders involved
in online drug sales and to avoid a conflict of interests, is
about to end
    ** Daiwa says the market might have overreacted to the
potential ban of third-party pharmaceutical e-commerce platform,
as revenue exposure for both JD Health and Alibaba Health would
be in the low-teens 
    ** Stock of rival JD Health International Inc  6618.HK 
drops as much as 17.4% in its worst day since July 27, 2021    
    ** The Hang Seng Tech Index  .HSTECH  drops 4%, the
healthcare index  .HSCIH  declines 2.8% and the Hang Seng Index
 .HSI  falls 2.3%


 (Reporting by Donny Kwok, Editing by Louise Heavens)
 ((donny.kwok@thomsonreuters.com))