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Shein's shares fall after lens withdrawal
The stock of Shein decreased by 9.9% on the Hong Kong Stock Exchange, reaching HKD 36.10, following urgent recall decisions for a contact lens product in Australia and New Zealand due to serious bacterial contamination. Test results from a lens sample in New Zealand revealed bacterial contamination posing a risk to eye health, and a case of eye infection has been reported in the United Kingdom. This stock decline comes amid regulatory measures to halt sales of the product, highlighting the challenges faced by the company's low-cost business model in international markets.
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