Stay updated with breaking news from Bloomberg moutai. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
China’s CSI 300 Index Pares Losses as Investors Focus on NPC Bloomberg 3/5/2021 Bloomberg News (Bloomberg) China’s main stock benchmark pared most of its early losses, narrowly avoiding a technical correction, as investors hunted for bargains while seeking cues from the National People’s Congress that began on Friday. The CSI 300 index ended 0.3% lower, with liquor maker Kweichow Moutai Co. one of the strongest positive contributors. The gauge is down 9.4% from its recent peak in Feb. 10 as some investors worried about the pace of its gains and as concerns about liquidity tightening and possible asset bubbles emerged. Still, the slump presented a buying opportunity for others. ....
China’s Top Stock Funds Trashed by $111 Billion Moutai Wipeout Bloomberg 3/4/2021 Sofia Horta e Costa (Bloomberg) The most popular stock trade in China is unraveling, tarnishing the reputations of some of the country’s most successful money managers and undermining the outlook for the world’s second-largest equity market. Until three weeks ago, buying the nation’s beloved liquor maker Kweichow Moutai Co. was a surefire way for the $3 trillion mutual fund industry to mint money and attract bumper inflows. The stock soared 30% year-to-date through its Feb. 10 record, after gaining almost 70% in 2020 and doubling in the year before that. ....