SHANGHAI -- A recent tumble in stock prices for restaurant operators in China appears fed by politics, following President Xi Jinping's rebuke of consumer gluttony and the public's obedience to his call for restraint.
Roast duck chain China Quanjude Group plunged more than 10% in mid-August, as did restaurant and hotel company Xian Catering. Jin Jiang, a hotel company that generates a big portion of its revenue from the banquet business, nose-dived around 20% at one point last month.
