(Yicai  Global) Jan. 30 -- Hong Kong's stock market extended losses today after  suffering a near 3 percent loss yesterday, as worries about the spread  of a deadly coronavirus outbreak scare off investors.

The  Hang Seng Index, which tracks the Hong Kong stock exchange, closed down  2.65 percent at 26,441.72, its lowest point since Dec. 11 last year. 

China  Health Group dodged the blow, solidifying gains made yesterday after  revealing that internal and external studies have shown its Ritonavir  medicine can help contain the deadly virus. Its share price [HKG:8225]  grew five-fold to close at HKD2.20 (28 US cents), nearly 20 times larger  than before markets closed for Chinese New Year.

The  company also claimed that one of  its affiliates is the only firm with a  license and history of making the medicine. The affiliate had already  submitted an application to regulator to re-open the facility that makes  the drug.

Editor: James Boynton