With less than a month until China's two major holidays, the National Day (Guóqìngjié·국경절), casino and hotel stocks, considered beneficiaries of Chinese tourists, are showing strength.
GS P&L stock, which operates hotels, was traded at 50,300 won in the KOSPI market at 9:29 a.m. on the 3rd. The stock price rose 6.01% (2,850 won) from the previous day. At the beginning of trading, the stock price surged to 51,200 won, marking an all-time high. The stock of West T&D, a hotel operator, is also strong.
Paradise, which operates casinos, also recorded a stock price increase of over 4% at the same time. GKL's stock price also rose more than 3%. Additionally, travel stocks such as Very Good Tour, Yellow Balloon Tour, Hanatour, and Modetour Network are being traded at higher prices compared to the previous day.
As China's National Day holiday approaches, it seems to have stimulated investor sentiment. This year's National Day holiday will be from October 1 to 7. Especially, as visa-free entry for Chinese group tourists will be allowed starting at the end of this month, the number of Chinese visitors to Korea is expected to increase.