China's dairy shares surge after NZ tainted milk scare

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China's dairy products shares open higher on Monday after NZ tainted milk scare

The news that some New Zealand milk products were contaminated with bacteria has given a boost to Chinese shares in dairy sector on Monday. Share of Hungshi dairy company rose to the daily limit of 10 percent; Beingmate gained 6.68 percent; Yili share increased 5.58 percent, and Bright Dairy rose by 2.24 percent .

New Zealand’s dairy gaint Fonterra announced on August 2 that contaminated whey protein concentrate was found in their products that were packed in last May, and some batches of the contaminated products were exported to China. The products were sold to eight international clients including two forage producers and three Chinese companies.

The Shanghai Composite index increased 0.11 percent or 2.30 points, to end at 2031.72, with 380 million yuan in deal. The Shenzhen Component Index slumped 0.08 percent, or 6.09 points to end at 7988.38 with 700 million yuan in deal.

• New Zealand counts cost of dairy contamination crisis
• Chinese firms recall products exposed to contamination
• Food authorities meet importers of tainted milk
• Importers recall tainted NZ milk powder
• China bans NZ milk powder imports
• New Zealand's Fonterra finds bacteria in products
• China names importers of NZ dairy products
• Chinese importers recall tainted milk products from New Zealand
• New Zealand parents alerted on botulism risk
• Nutrica recalls Karicare infant formula in New Zealand

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