Chinese liquor and e-cigarette shares fall amid state ‘vice industry’ crackdown

Investors fear sectors may be next target after Beijing's crackdown on digital gaming and tech companies

China's liquor and e-cigarette companies have emerged as the latest market casualty in Beijing's crackdown on vice industries" after reports from state media that suggest they could be the next targets for stricter regulation.

Shares in e-cigarette and liquor makers slumped on Thursday after reports in the Chinese media of adolescent e-cigarette use and links between alcohol and cancer spooked investors who fear the state may be planning to broaden its crackdown on digital gaming and technology companies.