Tokyo Twin Pandas Birth Boosts Japan’s Restaurant Stocks
(Bloomberg) -- Shares of two Japanese restaurant operators jumped after a nearby zoo announced that its giant panda gave birth to not just one cub, but two.
Tokyo-based Chinese restaurant Totenko Co.’s stock climbed as much as 10% after the city’s Ueno Zoo announced that its giant panda Shin Shin delivered twins this morning. Another nearby restaurant chain Seiyoken KK saw its shares advance as much as 7.4%, with trading volume on both at least 10 times the three-month, full-day average.
“Currently, the staff is working together to observe and protect the panda mother and cubs,” Ueno Zoo said in a statement.
Both stocks have been seen as a gauge for panda-related news, climbing earlier this month when the zoo announced that Shin Shin may be pregnant after mating with male panda Ri Ri.
Related story: Restaurant Stock Jumps After Tokyo Zoo Says Panda’s Pregnant
Visits to the Ueno Zoo currently require a reservation, with visitors limited to 2,000 a day under coronavirus infection prevention measures. The pandas are among the zoo’s main draws, with Shin Shin and Ri Ri’s daughter Xiang Xiang -- who turned four this month -- among the first attractions seen as visitors enter.
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