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Japan tourism-exposed stocks sink as China issues travel warning after Takaichi’s Taiwan remarks
Japan's tourism-related stocks fell amid a worsening diplomatic standoff between the two nations Beijing issued a travel and study alert for Chinese citizens considering going to Japan.Japan's tourism-exposed stocks fell Monday as tensions with China intensified after Beijing issued a travel and study alert for its citizens considering going to Japan.
Kanai is expected to lodge a protest over a threatening social media post by China’s consul general in Osaka in response to Takaichi’s comments, but will also use the visit to urge Beijing to refrain from any further action that would worsen relations, according to Japanese media.
The Japanese economy shrank by 1.8 percent compared to the same quarter last year, as U.S. tariffs dampened automobile exports and prompted a bleak outlook for growth.
China and Japan have repeatedly faced off around the Japan-administered islands, which Beijing calls Diaoyu and Tokyo calls the Senkaku.
Japan’s economy contracted for the first time in six quarters, supporting Prime Minister Sanae Takaichi’s case to compile an ambitious economic stimulus package.
China sent Coast Guard ships near disputed islands and warned travelers and students about safety risks in Japan. The escalation is over comments on Taiwan by Japan’s new prime minister.
Both countries have summoned each other’s ambassadors after Prime Minister Sanae Takaichi said a Chinese attack on Taiwan could draw a military response from Tokyo.
In October alone, the number reached 88, more than double the 39 recorded in September. Read more at straitstimes.com. Read more at straitstimes.com.
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