Reported 10 months ago
Kweichow Moutai Co. has lost its position as China’s most valuable onshore stock to Industrial and Commercial Bank of China Ltd. due to a drop in Moutai's share prices, leading to a reduced market capitalization. The liquor maker is facing challenges with tumbling wholesale prices, reflecting a sluggish economic recovery and impacting consumer sentiment towards premium brands like Moutai. On the other hand, ICBC's shares have rallied, benefiting from shareholder-friendly policies and outperforming as a high-dividend stock amid market volatility.
Source: YAHOO