Japanese Retail and Tourism Shares Plummet Amid Diplomatic Spat with China
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TL;DR
Japanese tourism and retail stocks fell sharply as China warned against travel to Japan, hitting companies like Shiseido and Oriental Land. This threatens sales growth and risks boycotts of Japanese goods in China.
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JapanChinatourismretail stocksdiplomatic spat
Japanese tourism and retail shares have plummeted after Beijing warned citizens against traveling to the country, amid a deepening diplomatic spat between the nations. Shiseido Co. dropped 11.4%, Pan Pacific International Holdings fell 9.7%, and Tokyo Disney Resort operator Oriental Land Co. shares declined 5%. The warning threatens tourism-led sales growth expectations for Japanese retailers and raises the risk of boycotts of Japanese goods in China.
