China’s covid drugmakers' shares surge amid concern over new wave

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China covid: Xinxiang Tuoxin Pharmaceutical Co. jumped as much as 20% in Shenzhen, while Hybio Pharmaceutical Co. rallied 15%...

Growing concerns that China may be facing a new Covid wave fueled a surge in shares of the nations drugmakers Monday as the public fretted over waning immunity...

While the Chinese Center for Disease Control and Prevention said Covid positivity rate has continued to trend downward, reaching 1.7% on April 20 from a peak of 29% in December, it also mentioned a new sub-variant XBB.1.16...

The word Covid was at one point the most searched topic on Weibo over the weekend, while the topic second wave of Covid has received more than 95 million views on Monday..

Meanwhile, Zhang Wenhong, one of Chinas top Covid advisers, said at a summit last week that vulnerable groups should get a booster shot and citizens should stock up on drugs in preparation for the arrival of new variants...