Japan, Korea Tourism Stocks Rise as China Resumes Group Tours
- Boost in travelers may help retail, transportation, cosmetics
- Positive news comes as tensions remain high over Taiwan
Kimono-clad visitors in the Asakusa district of Tokyo.
Photographer: Shoko Takayasu/BloombergThis article is for subscribers only.
China’s decision to reopen the door for group tours to Japan and South Korea sparked a flurry of buying Thursday in retail, cosmetics and travel stocks in Tokyo and Seoul.
Shares in Japan ranging from cosmetics maker Shiseido Co. to department store operator Takashimaya Co. climbed after the Nikkei said China would allow group tours to the country. Korean travel-related stocks including Hana Tour Service Inc. jumped after Maeil Business Newspaper said China may announce an end to its ban on group tours.