China lifts ban on group travel to more than 70 locations, giving a boost to travel stocks

Shares of Asian tour agencies, hotels and airlines all rose on Thursday after China announced it will allow group tours to 12 more locations across Asia.

This will be the first time in six years that China would allow group tours to South Korea, having banned such tours in 2017 in response to the deployment of the Terminal High Altitude Area Defense system in South Korea.China lifted a ban on group tours to more than 70 locations, giving travel and airline stocks in Asia a boost.said Thursday that group tours will resume to over dozens of locations in Asia-Pacific, Europe, Africa and North America.

South Korean airline and travel stocks saw the strongest reaction, with tour agency, airline and hotel stocks all surging.

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