Morton's will open steakhouse in China

CHICAGO

Morton's Restaurant Group Inc. said Thursday it will open a new steakhouse in Shanghai, China, in a joint venture with a local investor group.

The restaurant expands Morton's presence in Asia and will be the sixth Morton's steakhouse outside the U.S.

Morton's operates 76 steakhouses in 64 cities across 27 states, Puerto Rico and 5 other countries.

Shares fell 5 cents to $5.03 in afternoon trading Thursday.