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Chinese scandal-hit liquor maker tumbles for 3rd straight trading day


09:56, November 28, 2012

BEIJING, Nov. 27 (Xinhua) -- Shares of scandal-tainted Chinese spirits producer Jiugui Liquor Co. slid by the 10-percent daily limit by 11:30 a.m. Tuesday, following reports of a production suspension.

It marked the third consecutive trading day that Jiugui shares have dropped by the daily limit on the Shenzhen Stock Exchange since resuming trading on Friday.

Jiugui shares closed at 34.69 yuan (5.52 U.S. dollars) per share by midday Tuesday.

Media reports said the liquor maker would suspend production on Tuesday for equipment upgrades, echoing an announcement issued by the company on Monday.

On Monday, the company said that it would shut down all assembly lines on Tuesday in a bid to replace the plastic parts in equipment that the firm believes contaminated its products with toxic chemicals, according to a Beijing News report on Tuesday.

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