January 29, 2026 12:04 PM GMT China/Hong Kong Consumer | Asia Pacific Morgan Stanley Asia Limited+ Chinese Liquor: Initial Thoughts on The Rally We think the liquor sector's share price rally on Jan. 29 (~10% on average vs. flat for SSE) is sentiment-driven with the positive news flow on property sector (link), and recent rebound of wholesales prices from the CNY peak season effect. The share price rally could be tactical, in our view, with fund flow and sentiment improvement serving as short-term support, ...