China lifted a ban on group excursions to greater than 70 places, giving travel and airline stocks in Asia a lift.

China’s tradition and tourism ministry stated Thursday that group excursions will resume to over dozens of places in Asia-Pacific, Europe, Africa and North America.

Top travel locations in Asia-Pacific included Japan, South Korea and Australia. The United Kingdom, Germany, Finland and Sweden in addition to Middle East nations like Qatar, Oman, Lebanon and Israel had been on the listing.

South Korean airline and travel stocks noticed the strongest response, with tour company, airline and hotel stocks all surging.

Travel company Lotte Tour Development noticed its shares spike greater than 25%, whereas shares of luxurious hotel operator Hotel Shilla surged 17%.

South Korean airways additionally noticed features, with Asiana Airlines climbing 7% and Korea Airlines advancing 3.1%.

That’s even though Typhoon Khanun made landfall in South Korea on Thursday, leading to greater than 330 flights being cancelled and 10,000 folks being moved to security, in accordance with Reuters.

It would be the first time in six years that China is permitting group excursions to South Korea, having banned such excursions in 2017 in response to the deployment of the Terminal High Altitude Area Defense system in South Korea.

Japan tourism stocks additionally noticed features, with Japan Airlines and All Nippon Airways climbing 1.92% and 1.25% respectively.

Shares of Japanese travel company H.I.S rose 3.4%, whereas its counterpart Airtrip was 2.9% up.

In Australia, travel stocks had been little modified, with nationwide service Qantas simply marginally above the flatline.