Japan, Korea Tourism Stocks Rise on Prospect of Chinese Visitors

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Many firms in Korea and Japan were hurt by the sudden drop off in Chinese tourists caused by the pandemic. Photo: Bloomberg

(Bloomberg) — Optimism that China will 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. Ltd. to department store operator Takashimaya Co. Ltd. climbed after the Nikkei said China would allow group tours to the country from Thursday. 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 as early as this week.