Daily News: Odd News - Moutai shares lead alcohol tumble after China bans spirits from army feasts

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Monday, Dec 24, 2012 07:52 AM PST
Today's Odd News - Reuters News Headlines - Yahoo! News: Moutai shares lead alcohol tumble after China bans spirits from army feasts

Moutai shares lead alcohol tumble after China bans spirits from army feasts  Monday, Dec 24, 2012 07:52 AM PST 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 favored by the Chinese military, were down 5.8 percent in Shanghai at 9.07 p.m. ET, unwinding modest December gains. ... Full Story

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