Shares in Japanese firm Fujifilm Holdings sky-rocketed on Wednesday after Chinese authorities said a drug produced by the company could be effective for treating coronavirus patients.
Fujifilm Holdings stock started the day untraded because of a glut of buy orders, before soaring 15.4 percent to 5,238 yen, the highest level allowed during trade for the day.
China's ministry of science and technology said late Tuesday that some clinical trials have been completed on favipiravir -- the main ingredient in the influenza drug Avigan, which Fujifilm markets.