Chart of the day: China’s consumer stocks lead the charge
China’s consumer staples sector is poised to become the best performer this year. With two more trading days to go before the year ends, the sub-index of consumer companies including liquor distiller Kweichow Moutai and Yonghui Superstores has surged 76 per cent so far this year. The lead is way ahead of the 28 per cent advance for telecommunications stocks, the second best-performing sector on the CSI 300 Index. The consumer staples sub-index is also heading for the fourth consecutive annual gain this year as traders ride on the investment theme based on China’s shift towards a more consumption-based economy. Fiery liquor makers have led the charge on consumer stocks throughout the year, with Moutai and Wuliangye Yibin having added at least 99 per cent so far.