Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Manna from heaven? Shares tied to Japan's Nagasaki get Pope visit boost

Published 01/24/2019, 02:02 AM
Updated 01/24/2019, 02:05 AM
© Reuters. Pope Francis visits Panama for World Youth Day

By Yoshiyuki Osada

TOKYO (Reuters) - Japanese shares linked to the city of Nagasaki got an unlikely boost on Thursday after Pope Francis unveiled a plan to visit Japan, with media reporting Nagasaki, for centuries a center of Christianity in Japan, would be on his itinerary.

Stock traders said the first Papal visit to Japan in almost four decades would be a big publicity boost and help attract tourists to the city, associated in the minds of many foreigners with a second U.S. atomic bomb attack in 1945.

The Pope told reporters on Wednesday he would visit Japan in November. While his travel plan has not been announced, Japanese media said the visit would include Nagasaki, Hiroshima, where the first atomic bomb was dropped, as well as Tokyo.

"If the Pope visits various places in Japan, they will be reported around the world. Possibly that could increase the number of visitors," said Ryuta Otsuka, strategist at Toyo Securities.

Investors believe the business boost from a papal visit would be most palpable in Nagasaki, the smallest city on his itinerary, with a population of 430,000, and were piling into shares linked to it.

H.I.S. (T:9603), a travel company that operates a theme park in Nagasaki, rose 2.1 percent, while the Nikkei average (N225) saw a 0.1 percent fall.

Kyushu Railways (T:9142), which operates trains in the region, rose 0.3 percent before ending flat. Even Ringer Hut (T:8200), which operates a restaurant chain specializing in Nagasaki-style noodle dishes called "champon", rose 0.4 percent.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Foreign tourists have provided a major boost for the Japanese economy, helping to offset a declining population, with arrivals more than doubling over the past five years.

More than 600,000 people visit the atomic bomb museum in Nagasaki every year. The 82-year-old pontiff said this month he was afraid about the danger of nuclear war.

The southern port city has ancient links to the Christian world and one of Japan's largest Catholic communities.

The first Christians to arrive in Japan - Portuguese Catholics in the 16th century - came ashore in the Nagasaki area.

Nagasaki was home to "secret Christians" who kept their faith underground for more than 200 years despite an official ban that began in the early seventeenth century.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.