China and Japan will introduce travel facilitation policies, Japanese retail and tourism stocks rose in response.

10:40 26/12/2024

Japanese retail and tourism-related stocks have risen as the Chinese government and Japanese government have agreed to implement more convenience measures to promote mutual visits between the two countries.

Retail and tourism-related stocks in Japan have risen as the Chinese government and Japanese government have agreed to implement more convenience measures to promote mutual visits by tourists from both countries. Department store operator J. Front Retailing Co. also received a boost as profits exceeded expectations, with the stock price rising by 6.9% at one point, leading the Nikkei 225 index. Competitors Mitsukoshi Isetan and Takashimaya Co. saw their stock prices rise as well, and the operator of Tokyo Disneyland, Oriental Land Co., saw a surge of 2.5%. According to the statement, in addition to introducing policies to promote tourism, the two governments have also agreed to continue supporting cooperation in the entertainment industry. Chihiro Ota, Senior Strategist at Sumitomo Mitsui DS Securities, stated that although the benefits of relaxing visas for more Chinese tourists have already been mostly priced into the market, the latest news may bring this theme back into focus for investors. Earlier this month, reports indicated that Japan plans to relax visa regulations for Chinese citizens, leading to the rise in retail stocks. The number of foreign tourists visiting Japan continues to increase, reaching a new monthly high, and the depreciation of the Japanese yen has made traveling more affordable. Ota added that J. Front's profits have increased due to tourist spending, which has also boosted sentiment in the retail industry, especially with the upcoming Chinese New Year holiday.

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