Some of Japan’s biggest tourism and retail-related stocks slumped after Beijing warned its citizens against traveling to and studying in the country, amid a deepening diplomatic spat between the nations.
Cosmetics giant Shiseido Co. plummeted 9% while department store operator Isetan Mitsukoshi Holdings lost over 11%, their steepest drops since April. The two companies are popular with Chinese tourists. Tokyo Disney Resort parent Oriental Land Co. and Muji operator Ryohin Keikaku Co. were also among the Nikkei 225 benchmark’s biggest decliners.