The counterattack horn has sounded! Leading liquor stocks surged collectively, with the E Fund (HK) CSI Liquor Index ETF (03189.HK) jumping over 2.7%.

NewTimeSpace Insights: On January 29, the baijiu sector staged a broad-based rally. Luzhou Laojiao surged over 4%, while Kweichow Moutai and Gujing Gongjiu both jumped more than 3%. Jinhui Liquor, Shanxi Fenjiu, and Jiugui Liquor followed suit with gains exceeding 2%. As of 10:40 AM, the E Fund (HK) CSI Liquor Index ETF (03189.HK) opened strongly, climbing over 2.7%.

According to Hong Kong Exchanges and Clearing data, this fund is the first exchange-traded fund in the Hong Kong market dedicated to the mainland Chinese baijiu industry, closely tracking the CSI Baijiu Index. The CSI Baijiu Index selects constituent stocks from companies engaged in baijiu production business within the CSI All Share Index universe, providing investors with diversified exposure to the sector. Its top ten heavyweight holdings include leading distillers such as Kweichow Moutai, Wuliangye, and Luzhou Laojiao.

From an index performance perspective, the CSI Baijiu Index has been in a sustained correction since its June 2021 peak of 21,985.6 points, touching a阶段性low of 8,251.41 points on September 18, 2024. As of the intraday low of 8,323.39 points on January 26, 2026, the index remains slightly above the previous trough. Whether the index can stabilize around this level has become a focal point of market attention.

On the news front, the latest disclosure of public fund top ten heavyweight holdings on January 26 revealed new developments: despite the overall shift in public fund allocations toward AI, technology, and new energy sectors, Kweichow Moutai remains firmly among the top ten heavyweight holdings.

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