Liquor Sector Opens High and Surges! E Fund CSI Liquor Index ETF (03189.HK) Jumps Over 3.5%

NewTimeSpace Wire:On February 2, liquor stocks rallied at the open. Shuijingfang and Huangtai Wine both hit the daily upper limit, while Huiquan Wine surged over 9%. Shanxi Fenjiu, Kweichow Moutai, Wuliangye, Gujing Distillery, and Shede Wine followed higher. E Fund CSI Liquor Index ETF (03189.HK) opened strongly, jumping over 3.5%.

HKEX data shows the fund is Hong Kong's first exchange-traded fund dedicated to the mainland Chinese liquor industry, closely tracking the CSI Liquor Index. The CSI Liquor Index selects listed companies engaged in liquor production from the CSI All Share Index as constituents, offering diversified investment exposure to the market. Top ten holdings include leading distillers such as Kweichow Moutai, Wuliangye, and Luzhou Laojiao.

On the news front, multiple media outlets reported between January 28-29 that the "three red lines" policy for property developers has been substantially rolled back, with regulators no longer requiring monthly reporting of relevant indicators—marking the official unwinding of financing controls implemented five and a half years ago. The real estate sector has historically accounted for 20%-30% of liquor consumption scenarios. The market quickly constructed a transmission expectation of policy easing, property stabilization, consumption recovery, and liquor sector revival, with capital aggressively accumulating liquor positions and becoming the direct catalyst for the sector's surge.

Meanwhile, data from the peak Spring Festival consumption season provided important fuel for the rally. Since January, the wholesale price of Flying Moutai has entered a sustained upward channel. As of January 29, the 2025 vintage Flying Moutai original case wholesale price was reported at RMB 1,610 per bottle, and loose bottles at RMB 1,620 per bottle—both up RMB 20 from the previous day. The stabilization and rebound of terminal prices has become a key basis for capital's recognition of liquor consumption recovery.

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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