Data show that China’s tourism revenue is still well below 2019 levels
National Mid-Autumn Festival tourism revenue has reached 28.68 billion yuan ($4.16 billion) – just 60.6% of pre-pandemic levels for 2019, according to official data.
Revenue has been below 2019 levels since the pandemic hit in early 2020.
Film ticket website Maoyan showed that the long-weekend box office reached 370 million yuan ($53.44 million), the lowest since 2017.
Meanwhile, online shopping has stalled in value, according to data from China Post.
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Ramsay Healthcare shares fell 14% after takeover talks hit a dead end
Ramsay Health rejected the proposal earlier this year, saying the offer was “Inferior”.
The company’s shares subsequently rebounded slightly but remained down 11%.
– Abigail Ng
Nio jumps more than 20% at the open after Deutsche Bank report
Hong Kong-listed shares of the Chinese electric car maker New It jumped as much as 21% at the open following Deutsche Bank’s bullish report.
Confirming the buy rating, analyst Edison Yu made minor changes to the outlook and said Nio remains the top China EV pick for Deutsche Bank in a note dated Sept 4. 12.
“The company’s efforts on user experience, battery exchange, overseas expansion, and internal battery cell development are underappreciated and will eventually show a clear differentiation with the increasing competition in the domestic Chinese market,” Yu wrote.
The company’s shares were 17% higher.
CNBC Pro: Forget the oil – coal is hot right now. Here are 2 stocks to play with, according to the pro
Coal mining in Wyoming.
Brian Brainerd Denver Post | Getty Images
Coal prices are at record levels, and market watchers see prices rising even more as a global energy crisis approaches.
“It’s almost like any company or all companies are buying,” analyst Peter O’Conner said of the booming coal sector, revealing his favorite stocks.
– Xavier Ong
Nintendo shares jump 5% ahead of gaming announcement live
Shares associated with Squid Game are up 10% at opening on Emmy hope
Bucket Studio Companywho owns a stake in a private company that represents “Squid Game” lead actor Lee Jung-jae, jumped more than 10% as the show looked to score a historic victory in the drama’s race.
Shares of the company jumped more than 20% immediately after Netflix published in June A letter from the managerHwang Dong Hyuk, announced the return of the series with a second season.
Other content-related stocks CJ ENM and CJ CGV are also up more than 2.5% in the morning session, and Showbox is up 1.5%.
– Jie Lee
CNBC Pro: Do you want to invest in real estate? These ETFs are among analyst favorites
Real estate investment trusts – or REITs – are back in the spotlight after a volatile year for many asset classes.
Analysts from Morgan Stanley and Citi are highlighting REITs from two sectors that they say can outperform the broader market, and remain resilient in a recession.
– Weezin Tan
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