China’s consumer stocks stage a strong rally, with catering companies, tourism companies, liquor makers leading the gains, driven by market speculation that Beijing will set up an expert team to put together a “ reopening plan” with a goal of materially reopening the country by March next year.
Shares of China’s largest hot pot restaurant chain Haidilao International are surging more than 12% in Hong Kong, Xiabuxiabu up more than 10%, Jiumaojiu International up more than 6% and Yum China gaining more than 5%.
Tourism companies are also bouncing, with Trip.com jumping more than 10% and Tongcheng-Elong up 5.6%.
In mainland China, an index tracking the catering and tourism sector compiled by Wind Information is surging 9.5%, making it the best-performing sector in the A-share market.
An index tracking liquor makers is surging 7.6% in the A-share market, with the country’s iconic distiller Kweichow Moutai jumping more than 8% to break through 1,400 yuan mark.
