• 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.
  • Travel agency Lotte Tour Development saw its shares spike more than 25%, while shares of luxury hotel operator Hotel Shilla surged 14%.
  • 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.
Top view of Seoul in the morning in autumn 2016.

China lifted a ban on group tours to more than 70 locations, giving travel and airline stocks in Asia a boost.

China's culture and tourism ministry said Thursday that group tours will resume to over dozens of locations in Asia-Pacific, Europe, Africa and North America.