A man walks past a no smoking sign in Beijing. China, which has around 300 million smokers, is considered the world’s largest market for tobacco products. Photo: AFP
A man walks past a no smoking sign in Beijing. China, which has around 300 million smokers, is considered the world’s largest market for tobacco products. Photo: AFP
Stocks

China’s tightening scrutiny on tobacco industry wipes off US$28 billion in market cap of top e-cigarette players Smoore, RLX

  • Smoore plunged 27.1 per cent in Hong Kong on Tuesday, after Beijing said rules on sales of e-cigarettes and ordinary tobacco products would be standardised
  • RLX Technology sank 47.8 per cent overnight on the New York Stock Exchange, erasing US$2.6 billion from the net worth of its founder

Topic |   Stocks
A man walks past a no smoking sign in Beijing. China, which has around 300 million smokers, is considered the world’s largest market for tobacco products. Photo: AFP
A man walks past a no smoking sign in Beijing. China, which has around 300 million smokers, is considered the world’s largest market for tobacco products. Photo: AFP
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