[Special Stock] Chinese Consumer Stocks 'Plummet' Due to Wuhan Pneumonia... Drop by Over 10%

[Asia Economy Reporter Oh Ju-yeon] During the Lunar New Year holiday period, fears of the Wuhan pneumonia (novel coronavirus) in China spread, causing Chinese consumer stocks, which had surged significantly earlier this year due to expectations of the lifting of the Hanhanryeong (Korean Wave ban), to plummet one after another.

According to the Korea Exchange as of 9:07 a.m. on the 28th, cosmetics, duty-free, casino, and travel stocks fell the most sharply.

Korea Cosmetics traded at 13,500 KRW, down 13.46% from the previous trading day, while Tony Moly and Able C&C plunged 11.37% and 10.98%, respectively.

Amorepacific, which had surpassed 240,000 KRW due to improved earnings, dropped sharply to 192,000 KRW, down 9.41% from the previous trading day, and duty-free store stocks such as Hotel Shilla and Shinsegae International also fell 9.59% and 9.34%, respectively, compared to the previous trading day.

Casino stocks also declined together, with GKL trading at 18,800 KRW, down 10.48% from the previous trading day.

Travel and airline stocks also plummeted. Hanatour fell 9.16% to 44,600 KRW, Lotte Tour Development dropped 8.87% to 13,350 KRW, and Korean Air and Air Busan plunged 7.68% and 7.58%, respectively.