U.S. to add more Chinese firms to investment, export blacklists
$Hang Seng TECH Index (800700.HK)$ $HSI ADR (.HSIADR.US)$ Shares in Chinese healthcare and technology firms tumbled on Wednesday after a report that the United States would add more Chinese firms, including the largest commercial drone maker and biotech firms, to investment and export blacklists this week.
Citing two sources briefed on the plans, the Financial Times said the United States would add eight Chinese firms, including the drone maker, DJI Technology Co Ltd, to an investment blacklist on Thursday.
The U.S. commerce department is also set to place more than two dozen Chinese firms, some of them involved in biotechnology, on an "entity list" restricting exports to them by U.S. firms, the newspaper cited the sources as saying.
The report hastened a sell-off in Chinese healthcare shares in afternoon trade, knocking 3.2% off a mainland index tracking the sector against a drop of 0.87% in the broader index.
The impact was sharper still in Hong Kong, where the Hang Seng Healthcare Index was down 7.6% in late afternoon trade.
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