New Chinese President Xi Jinping of the joined Iowa Gov. Terry Branstad when he was vice president for a toast at a State dinner in Des Moines, Iowa on February 15, 2012.
New Chinese President Xi Jinping of the joined Iowa Gov. Terry Branstad when he was vice president for a toast at a State dinner in Des Moines, Iowa on February 15, 2012. - 
Listen To The Story
Marketplace

On a day like Christmas, when many markets are closed and many investors take the day off, volatility is always something to watch for.

"The [traders] that are remaining are able to take advantage of drops or increases in stock prices," says Shaun Rein, managing director of the China Market Research Group. "Last night, white alcohol manufacturers in China had their stocks drop a lot."

The markets in Japan and mainland China were opened today, and overall,  it’s been a tough week for Chinese liquor stocks. In an effort to crackdown on corruption and abusive spending, President Xi Jinping recently banned government officials from throwing lavish state banquets with pricey booze.

The move sent distillery stocks tumbling. Hit especially hard, the maker of Moutai, which can cost hundreds of dollars a bottle.

Beyond its eye-popping price, the Chinese liquor is also famed for its devastating strength. It's so powerful that during President Nixon's historic visit to China, his aides tried to keep him from drinking it. But, he toasted anyway.

Sign up to stay connected to Marketplace and you could be in for a Halloween treat!

Subscribe to our daily newsletter by Oct. 31 and you're automatically entered to win one of 10 Marketplace treat bags. They're filled with some great swag, plus something unique to give you a peek behind the scenes — a program rundown signed by Kai Ryssdal.

Subscribe today for your chance to win – and good luck!

Follow Mark Garrison at @GarrisonMark