Moutai shares lead alcohol tumble after China bans spirits from army feasts
HONG KONG (Reuters) – Chinese distiller Kweichow Moutai Co Ltd led a tumble in the country’s alcohol sector on Monday after Beijing banned its top brass from hosting boozy banquets while working, Communist Party chief Xi Jinping’s latest anti-corruption move. Shares in Moutai, whose premium white spirits are much favoured by the Chinese military, were down 5. 8 percent in Shanghai at 2. 07 a. m. British time, unwinding modest December gains. . . .
View full post on Odd News Headlines – Yahoo! News
Leave a Reply