Moutai shares sees 6th day of declines
By Zhu Wenqian | China Daily | Updated: 2017-07-06 07:32
Shares of Kweichow Moutai Co, the best-known high-end Chinese liquor, have experienced consecutive losses for six trading days, as a result of an excessive surge earlier, with industry analysts regarding it as rational declines.
On Wednesday, Moutai shares edged up 1.82 percent to close at 460.13 yuan ($67.7). Its share price is now the highest among listed Chinese companies. In the six trading days before Wednesday, Moutai's cumulative drop reached 6.76 percent, and its market value shrunk by more than 40 billion yuan.
Last week, Moutai's market value exceeded 600 billion yuan, as its share price had been consistently advancing this year, and its market value had topped that of other global liquor producers.
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