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Shanghai Auntie (02589.HK) fell 11.5%, with its share price at HK$127.8 and its issue price at HK$113.12.May 12, preliminary data released by the Ministry of Finance of Japan on Monday showed that in April, proxy investment institutions of Japanese pension funds bought a record number of foreign stocks: the net amount of foreign stocks purchased through bank trust accounts reached 2.76 trillion yen (about 18.9 billion US dollars). Affected by the intensification of trade tensions, the MSCI global market index fell more than 7% in the first week of April. The yen, as a safe-haven asset, appreciated significantly during this period. Jumpei Tanaka, head of investment strategy at Swiss Pictet Asset Management, said that the stock market fell sharply in April and the yen exchange rate rose, and many investors saw this as an opportunity to buy on dips. Another set of data showed that in March this year, Japanese investors bought a net 2.12 trillion yen of U.S. stocks, setting a record high since comparable data was available in 2005. The S&P 500 fell 6.1% in yen that month, the biggest drop since December 2022.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: Welcomes the ceasefire between India and Pakistan.Hong Kong-listed auto stocks continued to rise, with Xpeng Motors (09868.HK) rising more than 5%, NIO (09866.HK) rising 4.4%, and Li Auto (02015.HK) rising more than 2%.According to the European-Mediterranean Seismological Center, a 5.5-magnitude earthquake occurred in Sucre, northern Venezuela, at 20:41 local time on May 11, with a focal depth of 26 kilometers. No casualties or property losses have been reported so far.

TUI Reports Robust Summer Reservations As The Tourism Industry Recovers

Haiden Holmes

Feb 14, 2023 16:58

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TUI announced on Tuesday that it is observing a promising travel recovery trend for the forthcoming summer season, as travelers make preparations to take vacations after a pandemic absence.


Many expected that recessionary conditions would limit demand for vacations, but figures from airlines such as Ryanair, Wizz Air, and easyJet (LON:EZJ) indicate people are preparing for vacations.


The firm, one of the world's leading tour operators, reported that its first-quarter sales hit €3.8 billion ($4 billion) on strong winter and summer reservations, while its group EBIT loss nearly halved to €158.7 million from €267 million a year ago.


8.7 million reservations are scheduled for the 2023 winter and summer seasons.


"Our approach is straightforward: quality, cost control, and market share. New goods, new clients, and the resulting rise in market share and above-average growth are the foundation for future revenue and profit development "Sebastian Ebel, chief executive officer of TUI, said in a release.


European consumers are facing the greatest levels of inflation in a generation, yet the demand for vacations has been strong thus far. Early this year, low-cost airlines such as Ryanair, Wizz Air, and easyJet reported robust summer reservations.


Revenue increased by 1.4 billion euros to reach 3.8 billion euros year-over-year, while the number of visitors increased by almost one million to reach 3.3 million from the previous quarter.


According to the firm, demand in the previous four weeks has surpassed pre-pandemic levels, and prices have increased year-over-year.


In addition, the Hotels and Resorts division of the corporation recorded occupancy rates of 71% between October 2022 and March 2023, compared to 56% for the same period in the previous year.


Separately, TUI shareholders are likely to vote on a capital increase proposal to repay the German Economic Stabilization Fund later on Tuesday.

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