Shares in China's leading film studios took an immediate dive Monday moments after the country's stock markets resumed trading after the long Chinese New Year holiday.
Publicly traded state-backed film entities took an equal beating. Beijing-based China Film Group, which imports most Hollywood titles into China, dropped 9.99 to RMB 12.43, and Shanghai Film Group, which has collaborated with Disney in the past and operates scores of cinemas in Eastern China, also fell by 9.99 percent to RMB 12.17.
China's markets last traded Jan. 23, the same day that Wuhan, the epicenter of the coronavirus epidemic, was put on a mandatory lockdown. At that time, officials had confirmed 800 infections of the virus and 25 deaths. By Monday, those totals had climbed to 17,388 infections and 362 deaths, making the coronavirus deadlier in China than the 2003 SARS epidemic.
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Source: Variety - 🏆 108. / 63 Read more »