Moutai valuation surges as shares rise

Kweichow Moutai Co Ltd, China's signature high-end spirit maker, saw its share price hit a record high on Monday before edging down, even as analysts expect the firm to log further price gains due to product short supply and speculative interest.

Shanghai-listed Moutai closed 0.39 percent lower at 785.37 yuan ($122) per share on Monday after surging to 799.06 yuan during the day, and market value exceeding 1 trillion yuan. It became the first consumer stock with a market value that exceeded 1 trillion yuan, higher than London-based Diageo Plc and Brazil-based Ambev SA. Based on Monday's closing price, the company's valuation now stands at 986.6 billion yuan.

Among the 15 listed Chinese companies with high market valuations, Moutai is the only one from the consumer sector, with the others from sectors such as technology, finance, telecommunications and petroleum.