China Health-Care, Tech Stocks Fall on Reports of Expanded U.S. Sanctions

(Bloomberg) — Shares of China’s biggest chipmaker and several of its largest pharmaceutical companies sank Wednesday on fears that Washington will slap investment and export sanctions on more companies.

Wuxi Biologics Cayman Inc. tumbled a record 25% in Hong Kong before paring losses, while Sino Biopharmaceutical Ltd. dropped 5% at the close. Semiconductor Manufacturing International Corp. (SMIC), which is already under sanctions, fell 6.4% on a report that the U.S. is mulling tougher measures.