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China stocks fall as liquor makers tumble on valuation worries; Hong Kong down

Reuters2021-06-08

* 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.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

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评论12

  • Edmondcjj
    ·2021-06-08
    [Happy] 
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  • Tslverde
    ·2021-06-08
    Comment please
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    • jijimo
      Ok
      2021-06-08
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  • sinneDteo
    ·2021-06-08
    So only liquor makers down?
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  • Tslverde
    ·2021-06-08
    Drunken. Reply comment
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    • jijimo
      Ok
      2021-06-08
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  • JoelLee
    ·2021-06-08
    Reply and like! Thx!
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    • SLLS
      K
      2021-06-08
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    • Tslverde
      Good
      2021-06-08
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    • SLLS
      Ok
      2021-06-08
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  • Barbarazhao
    ·2021-06-08
    Not good news
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    • Vince191
      indeed
      2021-06-08
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    • Barbarazhao
      Thanks for the reply
      2021-06-08
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    • Jovin82
      nice
      2021-06-08
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    查看更多 1 条评论
  • xwteric
    ·2021-06-08
    Ok
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  • trojan1337
    ·2021-06-08
    Like commen pls
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  • Raymond杨
    ·2021-06-08
    Good to know 
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    • Jovin82
      yes!!!
      2021-06-08
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  • JaniceZhu
    ·2021-06-08
    [龇牙] 
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  • 小熊家族
    ·2021-06-08
    Pls like & comment. Thanks 
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    • trojan1337
      oki. reply pls
      2021-06-08
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  • IBS002
    ·2021-06-08
    Ok
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