Shares of biotech giant BeiGene fell 16% on their Shanghai STAR market debut. That finally adds risk to a once-safe bet on triple-digit first-day pops at the bourse. Watchdogs fretting about the speculative stock mania can relax a bit, says petesweeneypro
Cancer treatment specialist BeiGene plunged 16.4% on its Shanghai debut on Wednesday after raising $3.5 billion, hit by concerns over its valuation amid potential U.S. sanctions on Chinese biotech companies.A sign for STAR Market, China's new Nasdaq-style tech board, is seen before the listing ceremony of the first batch of companies at Shanghai Stock Exchange in Shanghai, China July 22, 2019.
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