Spirits rise as baijiu shares rally on Lunar New Year demand

AI Summary
Chinese liquor stocks, particularly baijiu producers, experienced a surge on Thursday, driven by increased demand ahead of the Lunar New Year. Kweichow Moutai, the leading baijiu maker, saw its shares climb over 8%, reaching a one-month high. Smaller liquor companies like Jinhui Liquor and Jiugui Liquor also experienced significant gains, rising by their daily limits. The rally is attributed to retailers increasing inventories in anticipation of higher consumption during family reunions and corporate banquets. Rising wholesale prices for Moutai products, specifically the Flying Fairy line, indicate strong industry conditions and further fueled investor optimism.
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