Shares in childcare companies soar after China scraps one-child policy
[HONG KONG] Shares of baby stroller maker Goodbaby International Holdings Ltd and diaper maker Hengan International jumped on Friday after China scrapped its one-child policy.
China's ruling Communist Party said on Thursday it would ease family planning restrictions to allow two children for all couples.
Companies that cater to the childcare industry welcomed the news, with Goodbaby climbing 8.9 per cent, Hengan rising 3.3 per cent and skin care products maker China Child Care, formerly Prince Frog, gaining 17.3 per cent.
Shares of infant formula maker Biostime International rose 11.8 per cent, milk powder maker Yashili International surged 9.6 per cent, and dairy products maker China Mengniu Dairy also climbed 6.7 per cent.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
What to expect as US moves towards faster stock settlement
US: Stocks stabilise after choppy trading week ahead of long weekend
Europe: Stocks end week lower as rate worries resurface
Oil posts weekly loss as interest rate policy spurs fuel demand worries
US dollar slips on profit taking but upbeat outlook remains
Singapore stocks end lower on Friday as investor appetite sours; STI down 0.2%