Regulatory fears ensnare more stocks in Xi Jinping's new china

China’s rolling regulatory crackdown on unfair markets has found new targets, with liquor makers, cosmetics firms and online pharmacies in the cross-hairs.

A slew of commentary and reports in state media called for better oversight of these industries on Friday to protect consumers, adding to earlier rulings targeting private tuition firms and technology firms as President Xi Jinping seeks to address inequality.

Distillers led a decline in the benchmark CSI 300 Index after it was reported that liquor producers will meet the regulator over market order. The nation’s biggest liquor maker Kweichow Moutai Co. plunged as much as 4.3%. Online