Shares of Trip.com Group, a leading online travel agency in China, surged by over 17% on Thursday morning, driven by optimism surrounding the upcoming Golden Week holiday period in the country.
The Golden Week, which runs from October 1st to October 7th, is a major national holiday in China that traditionally sees a significant uptick in domestic and international travel. As Chinese travelers make plans for vacations and trips during this period, online travel platforms like Trip.com are expected to benefit from increased booking volumes.
HSBC Global Research analysts expressed a positive outlook on Trip.com, citing its leadership position in both the domestic and outbound travel markets in China. They anticipate that softer travel prices during Golden Week could further boost booking volumes for companies like Trip.com, contributing to their strong performance.
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