CHINESE liquor giant Kweichow Moutai Co. has dethroned Industrial & Commercial Bank of China Ltd. as the mainland’s biggest stock by market value.
The maker of the alcoholic beverage baijiu is now worth 1.81 trillion yuan ($256 billion), versus 1.78 trillion yuan for ICBC. While Moutai finished essentially flat in Monday trading, ICBC fell 0.8% in Shanghai. Its Hong Kong-listed shares were adjusted ahead of a dividend payment next month.
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