Why Tuniu Stock Soared More Than 5% Higher Today
Tuniu (NASDAQ: TOUR) stock appears to be ending a turbulent, difficult 2022 on a high note. On Tuesday, the Chinese tour operator's stock popped more than 5% higher, on very encouraging news about that country's tourism sector.
On Monday, China's National Health Commission announced that the country is eliminating requirements for incoming travelers to take a nucleic acid test for COVID, and to enter quarantine. The move is effective on Sunday, Jan. 8, 2023.
It is part of a broader set of measures aimed at managing the country's response to the COVID pandemic. It will downgrade its classification of the disease from Class A to Class B. In addition to the change in the rules for inbound tourists, other measures will be eased. These include the elimination of contact tracking, aggressive quarantining, and classification of at-risk areas.
Source Fool.com
