DATA GRAPHICS | Finance
China’s biotechs bounce back after bargain-basement sale: Data Byte
Nearly all of China’s biopharma stocks went green after a three-day rout
July 29, 2021 1:23 AM UTC
Confidence roared back to investors in China biotech Wednesday, helping bellwethers Zai and BeiGene to nearly complete a roundtrip from a three-day sell-off that began on Friday following dramatic reforms that saw tutoring companies effectively booted from the public markets.
Of the 56 companies in the China BioPharma ETF (NASDAQ:CHNA), 51 were in positive territory, led by Zai Lab Ltd. (NASDAQ:ZLAB; HKEX:9688), up 23%; I-Mab Biopharma (NASDAQ:IMAB), up 22%; and BeiGene Ltd. (NASDAQ:BGNE; HKEX:6160), up 16%. Thirteen companies in the ETF gained at least 10%...