A top Chinese hot pot chain has seen US$4 billion in its market value evaporate this week, as the government’s escalating curbs to contain a resurgence in Covid-19 cases take a toll.
Haidilao International Holding tumbled as much as 7.9% on Wednesday to the lowest since March 2019. The drop brought the stock’s three-day decline to 20%, making it the worst performer on Hong Kong’s Hang Seng Index this week.
