Reuters: Global Markets: Yili shares open down 9.8 percent, extends fall after recall

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Yili shares open down 9.8 percent, extends fall after recall Jun 18th 2012, 02:16 SHANGHAI | Sun Jun 17, 2012 10:16pm EDT SHANGHAI (Reuters) - Shares of top Chinese dairy firm Inner Mongolia Yili Industrial Group Co (600887.SS) opened down 9.8 percent on Monday, extending their fall for the second day after the company announced a recall of tainted baby formula. The recall began on Wednesday and applies only to Quan You baby formula produced between last November and May, the company said on its website. The General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) had detected unusual levels of mercury in several batches of the formula. Yili shares opened at 19.71 yuan compared with Friday's close of 21.85, when they fell by the 10 percent daily limit.

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