Travel, airline stocks surge as China lifts curb on foreign group tours

Trip.com

10/08/2023 08:31

** Hong Kong-listed shares of Trip.com  9961.HK  rise 3.2% to
HK$328, while most China-listed airlines also climb after China
resumes group tours to several countries
    ** Shanghai-listed Air China  601111.SS  rises 4.9% to 9.5
yuan, China Southern Airlines  600029.SS  climbs 4.3% to 7.03
yuan, Shanghai International Airport  600009.SS  gains 3.55% to
47.83 yuan
    ** China has lifted pandemic-era restrictions on group tours
for more countries, including key markets such as the United
States, Japan, South Korea and Australia, effective immediately
    ** Prior to the pandemic, mainland Chinese tourists spent
more than any other country's tourists when abroad, clocking up
a combined $255 billion in 2019 with group tours estimated to
account for roughly 60% of that

 (Reporting by Georgina Lee)
 ((Georgina.Lee@thomsonreuters.com;))