Japanese Retail and Tourism Shares Plummet Amid Diplomatic Spat with China

Japanese tourism and retail shares have plummeted after Beijing warned citizens against traveling to the country, amid a deepening diplomatic spat between the nations. Shiseido Co. dropped 11.4%, Pan Pacific International Holdings fell 9.7%, and Tokyo Disney Resort operator Oriental Land Co. shares declined 5%. The warning threatens tourism-led sales growth expectations for Japanese retailers and raises the risk of boycotts of Japanese goods in China.