Chongqing Brewery Stock Drops on Drug Trial Results

(Beijing) -- A foreign-invested beer maker, once a rising star in China's stock markets, saw its value drop by more than 20 billion yuan in less than a week.

The Shanghai-listed company announced on December 5 that its 13-year efforts to produce a hepatitis B vaccine failed in clinical trials. The news sent the share price of the brewer plunging by the 10 percent daily limit for at least six trading days in a row, halving the price from 81 yuan to 38 yuan per share in six days.