Hey fam, big market shock today: Japan’s retail and tourism stocks took a nosedive after the Chinese mainland’s Ministry of Culture and Tourism told its people to skip visits to Japan. 📉✈️
According to Bloomberg and Reuters, here’s the breakdown:
- Shiseido plunged up to 11.4% – its steepest drop since April.
- Pan Pacific International (Don Quijote) slid 9.7% – biggest since August last year.
- Isetan Mitsukoshi dropped 10.7%, eyeing its largest fall in over a year.
- Takashimaya and J Front Retailing dipped over 6%.
- Oriental Land (Tokyo Disneyland) lost 5.1% and Fast Retailing (Uniqlo’s parent) sank 6.9%.
- Japan Airlines saw a 3.9% slide.
On top of that, some hot Japanese flicks like "Crayon Shin-chan the Movie: Super Hot! The Spicy Kasukabe Dancers" and "Cells at Work!" had their release dates in the Chinese mainland pushed back. 🎥🚫
So, what sparked the mainland’s move? It ties back to Japanese Prime Minister Sanae Takaichi’s Nov 7 remarks at a Diet meeting. She mentioned that Japan’s Self-Defense Force could exercise the right of collective self-defense if the Chinese mainland uses military forces against Taiwan. The Chinese mainland lodged formal démarches and protests, but she refused to retract her comments, which hint at possible action in the Taiwan Strait.
This sudden policy shift shows how geopolitics can ripple through markets in real time. For savvy travelers and investors alike, it’s a reminder to keep an eye on both your flight plans and your stock watchlist! 👀💼
Stay tuned as we track any updates on travel advisories and market moves. #MarketWatch #AsiaNews
Reference(s):
cgtn.com
