Moutai's shares closed up by 1.44 percent Friday, and later on the same day, Yang Yun, CEO of gucheng.com, a stock analysis website, posted a test report by Hong Kong Standards and Testing Centre (STC), an independent testing organization in Hong Kong, saying that two bottles of Kweichow Moutai had not been found to contain plasticizers.

STC refused Global Times' request Monday to confirm that the result was authentic, due to client privacy concerns.

In the past two years, several companies have been exposed for using plasticizers as a food additive to make beverages thicker and more appealing.

Jiugui Liquor Co, another high-end liquor producer in China, announced on November 27 that it would halt production in order to rectify the excessive use of plasticizer, which was exposed by the media in mid November.

"People are confused with different test results now," Liu Hui, a senior industry analyst at Capital Securities, told the Global Times Monday.

"But the stock performance in the liquor industry demonstrates that investors are not that concerned over food safety issues," said Liu.

Jiugui Liquor Co saw its shares jump by 5.87 percent Monday. Anhui Gujing Distillery Co also closed up by 2.28 percent.

However, some Jiugui distributors were quoted by Oriental Morning Post as saying that their Jiugui products could not be sold after the scandal.

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