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

WuXi Biologics (Cayman)

10/09/2024 03:05

** Hong Kong shares of WuXi AppTec Co Ltd  2359.HK  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  603259.SS  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
 2269.HK  falls 7.6%, MGI  688114.22  declines 1.9% and BGI
Genomics  300676.SZ  down 2% 
    ** In China, the blue-chip CSI 300 Index  .CSI300  and the
Shanghai Composite Index  .SSEC  both slip 0.2%, vaccine and
Biotech Index  .CSI931992  slip 0.6% and CSI Bio-medicine Index
 .CSI930726  down 1%
    ** In Hong Kong, Hang Seng Index  .HSI  eases 0.2%
     
    


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))