Your current location:HOME >politics >Travel boom lifts tourism sector shares 正文
TIME:2024-05-01 13:23:00 Source: Internet compilationEdit:politics
Tourism industry stocks have outperformed the broader A-share market, as more tourists flock to wint
Tourism industry stocks have outperformed the broader A-share market, as more tourists flock to winter hot spots like "ice city" Harbin in Heilongjiang province, signaling that the recovery in consumption has had a positive effect on the capital market, according to an expert.
Data from market intelligence provider Tonghuashun showed that an index tracking the ice and snow sector rose by 6.4 percent from Jan 2 to Tuesday, significantly outperforming the overall stock market.
"The growth of ice and snow tourism consumption shows a strong demand from consumers, and it has driven the demand for transportation, accommodation, catering and other sectors, reflecting the recovery of consumer confidence and their optimistic outlook for the future," said Sean Jia, partner and managing director of consultancy Frost &Sullivan Greater China.
"When consumers are willing to spend big during special holidays, it shows their confident attitude toward the overall economic environment. The capital market pays more attention to the long-term development trends of the industry and the economy," Jia said.
The momentum of ice and snow-themed travel is forecast to sustain until the Spring Festival holiday period next month, as the number of orders for ice and snow tours on major online travel agencies has been climbing, industry players said.
Shanghai-listed Changbai Mountain Tourism Co Ltd saw shares surge to their daily limit of 10 percent on six consecutive days. They closed at 26.53 yuan ($3.7) apiece on Tuesday.
Meanwhile, Shanghai-listed Dalian Sun Asia Tourism saw its shares jump by their daily limit on five straight days, closing at 33.17 yuan per share on Tuesday. Its share price has risen by over 50 percent in the past week.
Both these companies operate tourism businesses in Northeast China.
Share prices of some other companies related to tourism, hotels and outdoor sports have also edged up.
Following the rally, the two companies issued statements warning of risks in stock trading. They said the short-term increases are significant, but there have been no significant changes in the companies' operations.
The statements served to remind investors of the risks of an overheated market and irrational speculation, and encouraged rational decision-making before investments.
Benefiting from the popularity of ice and snow tourism during the New Year's holiday, Heilongjiang province received a total of 6.62 million tourists, a jump of 173.7 percent year-on-year.
During the period, tourism revenues reached 6.92 billion yuan, surging 364.7 percent year-on-year, according to the local government.
Bookings for bed-and-breakfast stays have also surged.
During the New Year's holiday, the booking volumes of B&B stays in Harbin topped that of all other cities nationwide, soaring 27 times compared with the previous New Year's holiday period, according to Qunar, a Beijing-based online travel agency.
China's investments in the ice and snow sector, including building or expanding skiing venues and hotels, have increased, and delayed construction projects have gradually been on track for completion, according to Frost &Sullivan.
In 2022, some 12 million Chinese went skiing, and the number is expected to reach nearly 35 million by 2027, the consultancy has forecast.
Armed men storm a hospital in central Mexico, killing a patient2024-05-01 13:19
Arrest made in NSW fatal hit2024-05-01 12:55
Teenagers named as victims of Nelson off2024-05-01 12:48
Israel to open three humanitarian routes into Gaza2024-05-01 12:34
A Yellowstone trip that ended with a man being arrested for kicking a bison2024-05-01 12:34
Few voters globally worried about climate change2024-05-01 12:21
Changes to tenancy laws to come into force next year2024-05-01 12:12
Russia hits vast dam in war's largest strike on Ukrainian energy infrastructure, Kyiv says2024-05-01 11:30
North Carolina shootout that killed 4 law officers began as task force tried to serve a warrant2024-05-01 11:18
Media Minister had 'more than enough time' to find solutions2024-05-01 11:11
EPA rule bans toxic chemical methylene chloride, toxic solvent known to cause liver cancer2024-05-01 13:12
Israeli military reduces troops in southern Gaza, spokesperson says2024-05-01 13:00
Changes to flu vaccine eligibility missed opportunity to improve health equity2024-05-01 12:03
Baltimore bridge collapses after being struck by ship, six presumed dead2024-05-01 11:47
Chelsea Gray signs extension with 22024-05-01 11:32
Pair arrested for alleged theft of $20,000 worth of Lego2024-05-01 11:31
'Devil in the details' when considering biofuels2024-05-01 11:19
April 12, 20242024-05-01 11:17
Blow to Rishi Sunak's hopes for returning more small2024-05-01 11:08
Changes to tenancy laws to come into force next year2024-05-01 10:44