[Asia Economy Reporter Minji Lee] As news spreads that Chinese President Xi Jinping is preparing to visit South Korea within the year, cosmetics stocks are showing an upward trend.
At 2:12 PM on the 12th, LG Household & Health Care was traded at 1,626,000 KRW, up 3.5% from the previous session. Amorepacific (2.01%), Aekyung Industrial (6.20%), Cosmax (2.23%), and Korea Cosmetics (1.47%) are also maintaining an upward trend.
Earlier, the government had planned President Xi's visit to South Korea in the first half of this year, but it was canceled due to the spread of the novel coronavirus infection (COVID-19). On this day, the Ministry of Foreign Affairs stated, "Both South Korea and China are continuing consultations under the consensus to realize President Xi's visit to South Korea early once the COVID-19 situation stabilizes and conditions are met."
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