Costco stock rises by 5% after first China store opens in Shanghai
CGTN
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Costco stock was up five percent on Tuesday, after the wholesale retailer was forced to close its first store on the Chinese mainland on opening day due to the overwhelming flood of customers. 

Costco stock is up more than 39 percent year to date.

Overcrowding in Costco's first Chinese mainland store

Located in Shanghai's Minhang District, the U.S. membership-only retailer launched its first brick-and-mortar store on the Chinese mainland Tuesday, with the largest parking lot for a Costco store in the world.

Tens of thousands of members registered before opening day, with netizens actively sharing their shopping suggestions and lists of things worth buying.

"Shanghai residents are so enthusiastic! You have to wait in queue for four hours to get a membership!" read a comment online.

A long queue stretched outside the store's entrance on Tuesday, with some parts of the store too full to enter immediately. Costco's own-brand baked goods, such as muffins, were among the most popular items.

1073km