Market Overview - On November 17, the Nikkei 225 index opened with a significant drop, falling over 1% and briefly dipping below 50,000 points before narrowing its losses [1] - As of 9:31 AM, the index was at 50,165.30, down 211.23 points or 0.42% from the previous close [2] Stock Performance - Japanese tourism-related stocks experienced substantial declines, with Shiseido's stock price dropping nearly 10% [2] - Japan Airlines fell over 5%, while other consumer and retail stocks such as Sanrio, Asics, and Fast Retailing saw declines of 7.8%, 6.6%, and 4.83% respectively [2][3] - Isetan Mitsukoshi Holdings and Muji both saw their stock prices drop by 12%, marking the largest decline since August 2024 [2] Economic Indicators - The Japanese Cabinet Office reported a 1.8% year-on-year decline in real GDP for Q3, marking the first negative growth in six quarters [5] - The real GDP decreased by 0.4% compared to the previous quarter [5] Impact of Travel Advisories - Following safety concerns and travel advisories issued by the Chinese government, there is a notable decrease in travel to Japan, which is expected to significantly impact the Japanese tourism industry [5] - Chinese tourists account for approximately 25% of all foreign visitors to Japan, with nearly 7.5 million mainland Chinese tourists visiting Japan in the first nine months of the year [5]