Tourism rise benefits Japanese stocks

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Tourism rise benefits Japanese stocks

November 22, 2018 - 08:59
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On Thursday Japanese Nikkei almost has not changed as investors stayed aside ahead of three-day weekend. However, companies related to tourism rose after data showed that number of tourists in October increased, Reuters informs.

Photo © Kohji Asakawa, CC0 1.0

On Thursday Japanese Nikkei almost has not changed as investors stayed aside ahead of three-day weekend. However, companies related to tourism rose after data showed that number of tourists in October increased, Reuters informs.

Nikkei stayed at level 21508,41 points. So far Nikkei lost 0,8% this week.

Companies, such as cosmetics producers, which win from higher tourists spending, showed growth after Japanese National Tourism Organization informed that number of tourists grew by 1,8% in October to 2,646 million. This number fell in previous two months.

Shiseido Co gained 3,6%, Kose Corp is up 3%. Defensive stocks, including railroad, real estate firms and food processors, gained as well.