China drug stock surges after doctor endorses its treatment for Covid

Guangzhou

A MAKER of traditional Chinese medicine products saw its stock surge the most in two years on Friday after one of the nation's top medical advisers reportedly said one of its treatments could potentially inhibit Covid-19.

Speculative traders pushed Guangzhou Baiyunshan Pharmaceutical Holdings up 13 per cent in Hong Kong and by its 10 per cent limit in Shanghai. Guangzhou-based Nanfang Daily cited Zhong Nanshan as saying Baiyunshan's "banlangen" product was effective in a series of in-vitro studies. Mr Zhong is a senior medical adviser to Beijing who confirmed the risk of human-to-human Covid-19 infection on Jan 20.