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2004-1-30 03:19:00 p.m. HKT, XFNA
STOCKWATCH - Hong Kong's drug stocks up as bird flu boosts medicine purchases
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HONG KONG (AFX-ASIA) - Shares of Hong Kong-listed pharmaceutical
companies rose sharply as investors bet that the region's bird flu outbreak
will lead consumers to stock up on medicine and health foods, dealers said.
At 2.45 pm, Lees Pharmaceutical Holdings Ltd was up 11.11 pct or 0.035
hkd at 0.35 with 1.565 mln shares worth about 547,750 hkd traded. The stock
was among the list of top 20 percentage gainers in Hong Kong today.
By contrast, the Hang Seng Index lost 47.89 points or 0.36 pct to 13,286.
12.
Other drug stocks that posted gains include the China Pharmaceutical
Group (1093.HK) which rose 0.025 hkd or 0.94 pct to 2.675, and Guangzhou
Pharmaceutical (874.HK) that gained 0.024 hkd or 1.25 pct to 2.025. Vital
Biotech Holdings (1164.HK) gained 0.01 hkd or 1.23 pct to 0.82 hkd.
(1 usd = 7.8 hkd)
jill.wong@afxasia.com
jyw/swp
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