[Featured Stocks] Cosmetics Stocks 'Stir' Amid Easing Sentiment on Hanhanryeong Ban Lift

[Asia Economy Reporter Minji Lee] Following the news that President Moon Jae-in declared this year and next year as the ‘Korea-China ?Cultural Exchange Year’ through a phone call with Chinese President Xi Jinping yesterday afternoon, and agreed to activate economic and human exchanges between the two countries, stocks related to cosmetics have maintained an upward trend.

At 9:14 a.m. on the 27th in the KOSPI market, It’s Hanbul traded at 31,950 KRW, up 10.75% from the previous trading day. At the same time, other companies such as Korea Cosmetics (5.8%), Yeonwoo (5%), Aekyung Industrial (1.7%), Cosmax (1.4%), AmorePacific (1%), and LG Household & Health Care (0.6%) also maintained an upward trend.

In the stock market, this call is seen as raising expectations that China’s ban on Korean products, known as the Hanhanryeong, which was imposed in retaliation for the deployment of the THAAD (Terminal High Altitude Area Defense) system by the US Forces Korea in March 2017, could be lifted.