Tourism industry stocks have outperformed the broader A-share market, as more tourists flock to winter hot spots like “ice city” Harbin in Heilongjiang province, signaling that the recovery in consumption has had a positive effect on the capital market, according to an expert.
Data from market intelligence provider Tonghuashun showed that an index tracking the ice and snow sector rose by 6.4 percent from Jan 2 to Tuesday, significantly outperforming the overall stock market.
“The growth of ice and snow tourism consumption shows a strong demand from consumers, and it has driven the demand for transportation, accommodation, catering and other sectors, reflecting the recovery of consumer confidence and their optimistic outlook for the future,” said Sean Jia, partner and managing director of consultancy Frost & Sullivan Greater China.
“When consumers are willing to spend big during special holidays, it shows their confident attitude toward the overall economic environment. The capital…