Singapore Travel Stocks Jump After Government Extends Quarantine-Free Entry to More Nations
October 10 2021 - 10:58PM
Dow Jones News
By Yifan Wang
Shares of Singapore travel and hospitality companies soared
Monday, after the city-state's government said it will allow
vaccinated travelers from more countries to enter Singapore without
quarantine.
Singapore Airlines jumped as much as 9.6%, while airline
catering firm SATS Ltd. rose 5.0% and casino operator Genting
Singapore gained 5.5%.
Hospitality REITs also climbed, with Frasers Hospitality Trust
gaining 3.1% and CDL Hospitality Trusts up 2.7%.
Singapore authorities said over the weekend that the city state
will extend vaccinated travel lanes to Canada, Denmark, France,
Italy, the Netherlands, Spain, the U.K. and the U.S. from Oct. 19
and to South Korea from Nov. 15.
The new measures will allow fully Covid-19 vaccinated passengers
from these countries to enter Singapore without quarantine.
Travellers will need to undergo PCR tests before departure and
after arrival.
This arrangement "represents another baby step to reopen
international borders, which should improve tourist arrivals,
albeit partially, and support tourist spending in downtown malls,"
Citi said in a research note.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
October 10, 2021 23:43 ET (03:43 GMT)
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