日本消费股地震：资生堂暴跌11%，旅游零售股集体重挫

Group 1 - The Japanese stock market experienced a significant decline, with the Nikkei 225 index dropping over 1% and falling below 50,000 points, primarily affecting tourism and retail stocks [1][3] - Notable declines included Shiseido's stock, which fell 11%, and Pacific International Holdings, which saw an 8.9% drop, marking their largest single-day declines since April 2024 [1][3] - Major retail and tourism-related companies, such as Isetan Mitsukoshi and Uniqlo's parent company Fast Retailing, also faced substantial stock price drops, with declines exceeding 5% [3] Group 2 - The downturn in the stock market is attributed to deteriorating Sino-Japanese relations, with Chinese authorities issuing travel warnings to their citizens regarding travel to Japan [5][11] - Chinese tourists are crucial for Japan's tourism sector, accounting for nearly 20% of international visitors in 2024, with their spending representing 27% of total inbound consumption, amounting to approximately 2.1 trillion yen [7] - A significant reduction in Chinese tourists could lead to a GDP decrease of 0.36% for Japan, equating to an economic loss of about 2.2 trillion yen [7] Group 3 - Japan's economy is facing multiple challenges, including a 1.8% decline in real GDP for the third quarter, marking the first negative growth in six quarters, largely due to decreased exports and a sharp drop in private residential investment [9] - Analysts suggest that the recent travel warnings from China threaten Japan's retail sales growth, particularly for companies like Shiseido and Uniqlo, which rely heavily on Chinese consumers [11] - The Japanese government has set an ambitious target to increase annual inbound tourist numbers to 60 million by 2030, but this goal is now uncertain due to escalating political tensions with China [15]