Alcoholic Beverage Stocks Slide in Asia on US Cancer Warning
- Sapporo drops 5.1% in Tokyo, China’s Wuliangye Yibin dips 3.7%
- Many see alcohol warnings following tobacco’s path: Asymmetric
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Shares of Asian liquor and beer makers declined after the US Surgeon General outlined a direct link between alcohol consumption and heightened cancer risk, and called for warning labels.
Sapporo Holdings Ltd. shares dropped as much as 5.1% in Tokyo on Monday, the most in five months. China’s Wuliangye Yibin Co. fell as much as 3.7%, while Budweiser Brewing Company APAC Ltd. slid 2.6% in Hong Kong and Treasury Wine Estates Ltd. dipped 2.7% in Australia.