Swire Pac (19 HK) Further Trims Cathay Exposure
Swire Pac announced plans to raise HK$4.7bn via the issuance of bonds exchangeable into shares of Cathay. At 0.34x forward P/B, Pac remains cheap....
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TRACKING TRAFFIC/Chinese Tourism: Destination Shift Could Dampen 2019 Spending
Tracking Traffic/Chinese Tourism is the hub for all of our research on China's tourism sector. Every month Tracking Traffic/Chinese Tourism...
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Monthly Chinese Tourism Tracker | After Strong March, Data Shows Softer Air Travel Demand in April
Chinese air travel data from April show a sudden slowing of demand, probably related to recent increases in airfares and surcharges. We expect to...
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Aug-Sep Numbers Show Tourist Spending in Korea Slowed | Confirms Chinese 代购 ('daigou') Crackdown?
The number of Chinese visitors to Korea has been recovering since Q2 this year following a sharp drop in 2017 related to the THAAD-controversy,...
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Shifting Tourism Flows in August a Response to Weaker RMB - But Is China's Policy Also Shifting?
I had initially ascribed the shift in Chinese tourist flows in August -- relatively weak traffic to several popular outbound destinations,...
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