HK Stock Market Move | China Tourism Group Duty Free Corporation (01880) rose more than 4%, with concerts driving the sales growth of duty-free shops in Hainan.

China Tourism Group Duty Free Corporation (01880) rose by over 4%, as of press time, it rose by 4.17% to HK$41.25, with a turnover of HK$35.6342 million. On the news front, during the Mid-Autumn Festival holiday, the world tour audition of American famous rapper Kanye West in Haikou stimulated local consumption, with the average room occupancy rate of accommodation facilities in Haikou increasing by 41.82% year-on-year and 10.44% month-on-month. The sales of duty-free shops on the island in the city increased by 4.5% year-on-year and 21.5% month-on-month. In addition, according to statistics from Haikou Customs, in August of this year, the actual number of duty-free shopping visits to the Hainan Island amounted to 433,000, a year-on-year decrease of 20.8%; the amount of duty-free shopping was 21.97 billion yuan, a year-on-year decrease of 33.1%, with a slight narrowing of the year-on-year decline. In the first eight months of this year, the amount of duty-free shopping on Hainan Island was 22.33 billion yuan, a year-on-year decrease of 30.7%.