China consumer stocks soar 65% as defensive ploys pay

Hong Kong

IN MOST stock markets, consumer staples are a refuge from the hype. In China, they're up 65 per cent this year and everyone wants in.

An index of Kweichow Moutai Co, Yonghui Superstores Co and peers has jumped 13 per cent in the past month alone, taking it to a record relative to the broader CSI 300 Index. A similar pattern is happening for stocks listed in Hong Kong, where the MSCI China Consumer Staples Index is near its highest in two years.