Twin joy as giant panda gives birth, pushing up Tokyo restaurant stocks

Shares of two Japanese restaurant operators jump after nearby Ueno Zoo announces the birth of the panda cubs

Female giant panda cub Xiang Xiang (L) sits next to her mother Shin Shin (R) at Ueno Zoo in Tokyo on November 12, 2018. (Photo by JIJI PRESS / JIJI PRESS / AFP) / Japan OUT

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’s stock climbed as much as 10 per cent after the city’s Ueno Zoo announced that its giant panda Shin Shin delivered twins on Wednesday morning.

Another nearby restaurant chain Seiyoken KK saw its shares advance as much as 7.4 per cent, 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.

Visits to Ueno Zoo currently require a reservation, with visitors limited to 2,000 a day under coronavirus infection prevention measures.

A staff member of Ueno Zoological Park holds one of the newly-born twin pandas delivered by giant panda Shin Shin at Ueno Zoological Park in Tokyo, Japan June 23, 2021, in this handout image taken and released by Tokyo Zoological Park Society. Tokyo Zoological Park Society/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES.

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.