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March 8, 2017

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Shares get the cheers

SHANGHAI shares yesterday rose for a second day, helped by liquor makers.

The Shanghai Composite Index added 0.26 percent to 3,242.41 points. Kweichow Moutai Co, China’s biggest baijiu producer, gained 2.3 percent to 367.20 yuan (US$53.24), making it one of the 10 most heavily weighted stocks in Shanghai. The company’s market valuation was 461.28 billion yuan by yesterday. Sichuan Swellfun Co rose 3.33 percent, and Shanxi Xinghuacun Fen Wine Factory Co climbed 2.45 percent. The top-four producers in China, including Moutai, are set to account for 27 percent of earnings before interest and taxes in the global spirits industry, according to the Bernstein Global Spirits Guide.



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