In early trading on the 19th, domestic tourism-related stocks are surging. The move is seen as expectations for a windfall as China-Japan tensions intensify.
As of 9:24 a.m. on this day, Yellow Balloon Tour is trading at 7,050 won, up 17.11% (1,030 won) from the previous day.
Very Good Tour is also trading at 7,140 won, up 14.77% (910 won) from the previous trading day. Modetour Network is rising more than 4%.
Among airline stocks, AIR BUSAN is trading at 2,025 won, up 22.05% (374 won) from the previous day, and Jeju Air is also showing gains in the 8% range.
Hotel and casino stocks are also strong together. Hotel Shilla, Seobu T&D, and Paradise are also rising in early trading.
The rise in domestic tourism-related stocks is seen as reflecting expectations that Korea's tourism industry will benefit as relations between China and Japan deteriorate.
Earlier, Sanae Takaichi, the Japanese prime minister, made remarks mentioning the possibility of involvement "in the event of a contingency in Taiwan," rapidly chilling China-Japan relations. The Ministry of Foreign Affairs of China recently issued a travel advisory to its citizens, saying, "Avoid travel to Japan in the short term." The Japanese Embassy in China previously urged Japanese nationals residing locally to be mindful of safety.