Forget Alibaba and Tencent, investors are intoxicated by this pungent Chinese drink
A Chinese liquor stock has captured the imagination of global investors as a proxy for affluent consumers in the world’s second-largest economy.
Kweichow Moutai Co. has outperformed technology giants Alibaba Group Holding Ltd. and Tencent Holdings Ltd.—two favorite picks for foreigners looking to play China—in recent years and is beating them in 2019. American mutual-fund managers and other large investors have piled in.
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