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China shares close down, Moutai drags

HONG KONG/SHANGHAI, Jan 22 (Reuters) - Onshore China shares closed down on Tuesday, led by weakness in alcohol producers after retail investors were spooked by a news report the sector accounted for half of the top 10 stocks that fund managers sold off last year. The CSI300 of the top Shanghai and Shenzhen A-share listings closed down 0.5 percent at 2,596.9, slipping off Monday's 7-1/2-month closing high. The Shanghai Composite Index closed down 0.6 percent at 2,315.1.

China gift crackdown hits watches, booze but foreign brands hold on

By Adam Jourdan SINGAPORE, Jan 15 (Reuters) - A Chinese government crackdown on lavish spending by officials has pushed expensive liquor and high-end watches out of favour in the luxury gift-giving market, a survey from the Hurun Report, known for its annual China Rich List, showed on Tuesday.
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