Pursuits
Millionaire Liquor Spurs Top Stock in Hu Reign: Chart of the Day
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Shares of Kweichow Moutai Co., the maker of the 106-proof spirit preferred by Chinese millionaires, have beaten every other stock in Shanghai during President Hu Jintao’s 10-year term with a 3,453 percent rally.
The CHART OF THE DAY tracks the market capitalization of Moutai against Diageo Plc and Pernod Ricard SA since the end of November 2002 through last month. The Chinese company’s value has risen to $41 billion from less than $1 billion, making it the world’s second-largest distiller. The lower panel shows a gauge of Chinese consumer-staple companies has gained at more than double the pace of the broader index in the past decade.