Updated on
Summary Shares of Moutai were down 5.8 percent in Shanghai.
HONG KONG: Chinese distiller Kweichow Moutai Co 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 favored by the Chinese military, were down 5.8 percent in Shanghai at 9.07 p.m. ET, unwinding modest December gains.
