Chinese biotech giant WuXi AppTec’s shares jump after Pentagon blacklist reversal
WuXi AppTec’s shares jumped on Tuesday after the Pentagon removed the company from a list of entities allegedly linked to the Chinese military, marking a win for the biotech service giant and raising hopes among other mainland firms challenging US blacklists.
The US deputy secretary of defence decided to delist WuXi AppTec from its list of “Chinese military companies”, according to a notice published on the Federal Register on Tuesday.
WuXi AppTec surged more than 6 per cent at the open in Hong Kong before paring gains to about 2 per cent in early trading. Its Shanghai shares rose about 1.8 per cent.
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