liquor stocks saw a collective surge thanks to the release of multiple positive news
2024-09-24
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cover news reporter yu qishu
on september 24, liquor stocks rose collectively, thanks to the release of multiple positive news.
at the close of the day, kweichow moutai rose 8.80%, luzhou laojiao rose 8.08%, wuliangye rose 7.19%, shanxi fenjiu rose 6.84%, and yanghe shares rose 4.00%.
on the news front, on september 24, the state council information office held a press conference and announced a series of policies, including lowering the reserve requirement ratio, reducing interest rates on existing mortgage loans, and creating new monetary policy tools.
chen li, chief economist of sichuan securities, said that this cut in the reserve requirement ratio is expected to release 1 trillion yuan in funds, which will bring significant incremental funds to the market.
influenced by this news, a-shares exploded on september 24. by the close of trading, the shanghai composite index rose 4.15%, the shenzhen component index rose 4.36%, and the chinext index rose 5.54%. more than 5,100 stocks rose in the market, with a turnover of 971.3 billion yuan.
the financial sector saw a surge in daily limit-up, with guohai securities, hongye futures, tianfeng securities and many other stocks hitting their daily limit. the steel sector surged, with anyang iron and steel, bayi iron and steel and many other stocks hitting their daily limit. the liquor, coal, and energy metal sectors all led the gains.
regarding the liquor sector, kweichow moutai recently announced that it plans to use 3 billion to 6 billion yuan of its own funds to implement a share repurchase plan. it also announced that from 2024 to 2026, the total amount of cash dividends distributed by the company each year will not be less than 75% of the net profit attributable to the parent company in that year.
wuliangye also said on the interactive platform on september 23 that it is actively studying stock repurchases or special dividends. previously, shede wine industry and shuijingfang had announced and implemented stock repurchases.
