Data shows that China’s tourism revenue is running below 2019 levels
National tourism revenue for the Mid-Autumn Festival was 28.68 billion yuan ($4.16 billion) – just 60.6% of pre-pandemic levels in 2019, according to official data.
Since the pandemic hit in early 2020, revenue has remained below 2019 levels.
Movie ticket site Maoyan showed that the long weekend brought in 370 million yuan ($53.44 million) at the box office, the lowest since 2017.
Meanwhile, online shopping held up by value, according to data from China’s postal authority.
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– Evelyn Cheng
Ramsay Health Care shares fall 14% as takeover talks hit roadblock
An Australian hospital operator Ramsay Health Cares Shares fell as much as 14.6% after the company declared The KKR-led consortium is “not in a position to finalize the terms” of an acquisition plan.
Ramsay Health rejected the proposal earlier this year, saying it was a concession “Meaning inferior.”
Shares of the company later recovered slightly, but were still down 11%.
– Off Abigail
Neo jumped more than 20% at the open after the Deutsche Bank report
Hong Kong-listed shares of the Chinese electric vehicle maker Neo The open rose as much as 21% following a bullish report from Deutsche Bank.
Reiterating his buy rating, analyst Edison Yu made minor revisions to forecasts, saying the Sept. In a note dated the 12th, Deutsche Bank said the Neo was its top China EV pick.
“The company’s efforts around user experience, battery replacement, overseas expansion and internal battery cell development are highly undervalued and will eventually show clear differentiation as the local Chinese market becomes increasingly competitive,” Yu wrote.
Shares of the company were last 17% higher.
–Jihye Lee
CNBC Pro: Forget oil — coal is hot right now. According to pros, here are 2 stakes to play it
Coal mining in Wyoming.
Brian Brainerd | Denver Post | Good pictures
Coal prices are at an all-time high and market watchers see prices going even higher as the global energy crisis looms.
“It’s almost like any or all companies are buying,” analyst Peter O’Connor said of the growth in the coal sector, revealing his favorite stocks.
CNBC Pro subscribers can read more here.
– Javier Ong
Nintendo shares advanced 5% ahead of games announcement livestream
Squid game-related stock up 10% on Emmys hopes
Puckett Studio Co.A stake in a private firm that represents “Squid Game” lead actor Lee Jung-jae rose more than 10% as the drama series saw a historic win in the race.
The company’s shares jumped more than 20% immediately after Netflix’s release in June A letter from the directorHwang Dong-hyuk will announce the series and return with the second season.
Other content-related stocks CJ ENM and CJ CGV also gained more than 2.5% in the morning session, while Showbox rose 1.5%.
– Jihye Lee
CNBC Pro: Investing in Real Estate? These REITs are analysts’ favorites
Real estate investment trusts — or REITs — are coming back into the spotlight after a volatile year for many asset classes.
Analysts at Morgan Stanley and Citi highlight REITs from two sectors that will outperform the broader market and hold up in a recession.
CNBC Pro subscribers can read more here.
– Weissen Don
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