Chinese drugmakers soar as Obama declares swine flu a national emergency

Japan's Nikkei Index added 0.8 percent Monday, ending the day at 10,363, and the Shanghai Composite Index gained 0.1 percent to close at 3,110. The Hong Kong Stock Exchange was closed today in celebration of the Chung Yeung Festival as locals headed to the hills to pay respect to their ancestors.

Shares in Chinese drugmakers surged as Barack Obama declared swine flu a national emergency in the U.S., and today's China Daily warned that Mainland China should expect the number and severity of cases to balloon as the weather begins to cool. Both Shenzhen Neptunnus Bioengineering Co. and Hualan Biological Engineering Inc. reached their 10 percent daily limit and China National Medicines Corporation leaped 6.8 percent.