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2021-06-08
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China stocks fall as liquor makers tumble on valuation worries; Hong Kong down
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Hong Kong down","url":"https://stock-news.laohu8.com/highlight/detail?id=2141252610","media":"Reuters","summary":"* SSEC -0.5%, CSI300 -0.8%, HSI -0.4%* HK->Shanghai Connect daily quota used -1.4%, Shanghai->HK dai","content":"<p>* SSEC -0.5%, CSI300 -0.8%, HSI -0.4%</p><p>* HK->Shanghai Connect daily quota used -1.4%, Shanghai->HK daily quota used 2.4%</p><p>* FTSE China A50 -1.1%</p><p>SHANGHAI, June 8 (Reuters) - China stocks fell on Tuesday, weighed down by liquor makers, as investors worried about lofty valuations and Sino-U.S. tensions.</p><p>** The CSI300 index fell 0.8% to 5,234.33 at the end of the morning session, while the Shanghai Composite Index lost 0.5% to 3,581.25.</p><p>** Falling the most, the CSI300 consumer staples index dropped 2.9%, while the CSI liquor index tumbled 5.9%.</p><p>** Anhui Yingjia Distillery and Sichuan Swellfun both slumped by their 10% daily trade limits, while Hebei Hengshui Laobaigan Liquor, Jinhui Liquor and Anhui Golden Seed Winery all fell more than 9%.</p><p>** The retreat came as the liquor index neared its record high hit in mid-February, and after the index gained 12% and 12.5% in May and April, respectively.</p><p>** \"The price to earnings ratios of liquor makers, not including Moutai and Wuliangye, have reached more than 60 overall, which is way too high despite improvements in their fundamentals,\" said Yan Kaiwen, an analyst with China Fortune Securities.</p><p>** Yan said liquor stocks would face a big correction going forward.</p><p>** In Hong Kong, the Hang Seng index dropped 0.4%, to 28,685.50 points, while the Hong Kong China Enterprises Index lost 0.5%, to 10,697.06.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina stocks fall as liquor makers tumble on valuation worries; Hong Kong down\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-08 12:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* SSEC -0.5%, CSI300 -0.8%, HSI -0.4%</p><p>* HK->Shanghai Connect daily quota used -1.4%, Shanghai->HK daily quota used 2.4%</p><p>* FTSE China A50 -1.1%</p><p>SHANGHAI, June 8 (Reuters) - China stocks fell on Tuesday, weighed down by liquor makers, as investors worried about lofty valuations and Sino-U.S. tensions.</p><p>** The CSI300 index fell 0.8% to 5,234.33 at the end of the morning session, while the Shanghai Composite Index lost 0.5% to 3,581.25.</p><p>** Falling the most, the CSI300 consumer staples index dropped 2.9%, while the CSI liquor index tumbled 5.9%.</p><p>** Anhui Yingjia Distillery and Sichuan Swellfun both slumped by their 10% daily trade limits, while Hebei Hengshui Laobaigan Liquor, Jinhui Liquor and Anhui Golden Seed Winery all fell more than 9%.</p><p>** The retreat came as the liquor index neared its record high hit in mid-February, and after the index gained 12% and 12.5% in May and April, respectively.</p><p>** \"The price to earnings ratios of liquor makers, not including Moutai and Wuliangye, have reached more than 60 overall, which is way too high despite improvements in their fundamentals,\" said Yan Kaiwen, an analyst with China Fortune Securities.</p><p>** Yan said liquor stocks would face a big correction going forward.</p><p>** In Hong Kong, the Hang Seng index dropped 0.4%, to 28,685.50 points, while the Hong Kong China Enterprises Index lost 0.5%, to 10,697.06.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAAS":"中汽系统"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141252610","content_text":"* SSEC -0.5%, CSI300 -0.8%, HSI -0.4%* HK->Shanghai Connect daily quota used -1.4%, Shanghai->HK daily quota used 2.4%* FTSE China A50 -1.1%SHANGHAI, June 8 (Reuters) - China stocks fell on Tuesday, weighed down by liquor makers, as investors worried about lofty valuations and Sino-U.S. tensions.** The CSI300 index fell 0.8% to 5,234.33 at the end of the morning session, while the Shanghai Composite Index lost 0.5% to 3,581.25.** Falling the most, the CSI300 consumer staples index dropped 2.9%, while the CSI liquor index tumbled 5.9%.** Anhui Yingjia Distillery and Sichuan Swellfun both slumped by their 10% daily trade limits, while Hebei Hengshui Laobaigan Liquor, Jinhui Liquor and Anhui Golden Seed Winery all fell more than 9%.** The retreat came as the liquor index neared its record high hit in mid-February, and after the index gained 12% and 12.5% in May and April, respectively.** \"The price to earnings ratios of liquor makers, not including Moutai and Wuliangye, have reached more than 60 overall, which is way too high despite improvements in their fundamentals,\" said Yan Kaiwen, an analyst with China Fortune Securities.** Yan said liquor stocks would face a big correction going forward.** In Hong Kong, the Hang Seng index dropped 0.4%, to 28,685.50 points, while the Hong Kong China Enterprises Index lost 0.5%, to 10,697.06.","news_type":1},"isVote":1,"tweetType":1,"viewCount":293,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/117834101"}
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