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The worst ever incident of food poisoning among a large number of middle and high school students in the metropolitan area after eating school meals has sent the stock price of the caterer and its affiliates tumble, to the benefit of rivals and hygiene businesses.
The Kosdaq-listed CJ Food System on Friday saw its stock price nosedive 15 percent on market opening with no further trade during the day. Its parent group CJ, which holds a 59.6 percent stake, fell 12 percent at one stage but recovered to end down 7.73 percent. CJ Home Shopping, CJ Internet, and CJ CGV also lost 3.08, 1.56 and 2.05 percent.
But hygiene stocks thrived on the incident. Cell Biotech, which is reported to be developing a restrainer of harmful microorganisms, achieved a record high, and Daehan New Pharm, an importer of hand cleanser, soared 4.68 percent.
(englishnews@chosun.com )
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