Pursuits
Moutai Plunges Most in Seven Years on Earnings: Shanghai Mover
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Kweichow Moutai Co., the nation’s biggest liquor maker by market value, fell the most in seven years after profit trailed Capital Securities Corp.’s estimate and concern grew that a government crackdown on lavish spending will continue to hurt demand.
Moutai, which produces a fiery white liquor called baijiu, slumped by the 10 percent daily limit to 151.90 yuan as of 10:07 a.m. local time, heading for the steepest drop since May 2006 and the lowest level since 2010. The stock was the biggest drag on the Shanghai Composite Index, which slipped 0.2 percent.