Japan’s tourism and retail stocks tumbled on Monday as China issued a warning to citizens not to travel the country in the midst of a diplomatic row with Tokyo.
China’s Education Ministry also cautioned students already living in Japan to remain vigilant and closely monitor the security situation.
The Japanese department’s shares plunged, notably the parent company of Mitsukoshi and Isetan, which fell by over 10 percent.
Other renowned brands including Shiseido also witnessed drastic decline in stocks.
Japanese markets have experienced the shockwaves as the result of travel warnings because Chinese tourists are among the top sources of tourism revenue in Japan.
As per the Japanese government, more than 100,000 students were enrolled in Japanese educational institutions in 2024.
Moreover, shares in the Takashimaya store chain and Uniqlo declined by more than 5 percent.
Oriental Land’s share, the company that runs the Tokyo Disney resort, also fell by 5 percent.
ANA Holdings and Carriers Japan Airlines also suffered the dip in the stock market.
The decline in share prices came on the heels of the row that started when newly appointed Japan’s PM Sanae Takaichi has openly criticized China, suggesting that Tokyo could be involved in military conflict if Beijing attacked Taiwan.
