Hong Kong Retailer Stocks Jump After City Eases Travel Rules
- Cosmetics retailer Sa Sa surges 9.9%, most in a month
- AIA rises as Citigroup sees travel ease to aid businesses
Photographer: Budrul Chukrut/Getty Images
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Hong Kong firms dependent on tourism rallied on Tuesday after the government said it was planning to relax travel restrictions across the border from as early as month’s end, signaling a possible rebound for a sector acutely impacted from the year-long pandemic.
From insurers to cosmetic firms, once-popular business segments may be among top beneficiaries as the government mulls reopening check points with the mainland that were closed a year ago due to Covid-19. Beauty retailer Sa Sa International Holdings Ltd. briefly surged by as much as 9.9%. Jewelry company Chow Sang Sang Holdings International Ltd. and Emperor Watch & Jewellery Ltd. advanced by at least 7.6%.