China Issues Travel Advisory for Japan, Japanese Tourism and Retail Stocks Plummet
Incorrect remarks by Takayuki Kurimoto on Taiwan sparked a diplomatic confrontation between China and Japan. As the situation continues to escalate, the social atmosphere in Japan is also changing. Considering the safety of its citizens, the Chinese authorities have issued a travel warning for Japan. For a long time, Chinese tourists have been the largest group of foreign visitors to Japan, accounting for 25% of all foreign tourists visiting Japan. After the Chinese authorities issued the travel advisory for Japan, this undoubtedly has a significant impact on Japan's tourism and related industries.
Soon, relevant signs emerged. According to reports from Bloomberg and Reuters, on November 17, the stock prices of some Japanese retail and tourism-related companies directly suffered heavy losses. Shiseido and "Don Quijote" are the most typical examples, which have always been popular with Chinese tourists. On November 17, Shiseido's stock price fell more than 11% right after the market opened, marking the biggest drop since April this year. The parent company of "Don Quijote" saw its stock price fall nearly 10%, the largest drop since last August.
Additionally, the stock price of Mitsukoshi Isetan Holdings, a Japanese retailer popular with Chinese tourists, also experienced the largest drop in over a year, falling more than 12% at the opening on November 17. Another Japanese retail company, Takashimaya, also saw its stock price plummet by more than 6%.
According to Reuters, the stock price of Oriental Land Company, the operator of Tokyo Disneyland, dropped by 5.1%, while the stock price of Uniqlo's parent company Fast Retailing fell by 6.9%, the largest drop since mid-July. Affected by the tourism industry, Japan Airlines' stock price also declined by 3.9%.
Original article: www.toutiao.com/article/1849031456639243/
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