[Special Report] Cosmetic Stocks Surge Following Outdoor Mask Mandate Lifted

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] On the morning of the 29th, cosmetic-related stocks are rising simultaneously in the market. It is interpreted that the news of the government changing the mask-wearing guidelines, allowing people not to wear masks outdoors starting next week, has influenced this trend.

As of 10:10 AM, Jayjun Cosmetic is trading at 1,355 KRW, up 26.64% (285 KRW) from the previous trading day. Leaders Cosmetic is also trading at 4,110 KRW, up 18.61% (645 KRW) compared to the previous day.

Other stocks such as Organic Tea Cosmetic (14.12%), Hankook Cosmetics (12.00%), Tony Moly (7.74%), and Skin&Skin (7.21%) are also rising sharply.

It is estimated that investors' expectations are focused on cosmetic-related stocks following the news of the lifting of the outdoor mask-wearing mandate. Prime Minister Kim Boo-kyum announced the change in mask-wearing guidelines to lift the outdoor mask-wearing obligation at the Central Disaster and Safety Countermeasures Headquarters (CDSCH) meeting held at the Government Seoul Office on the same day.

Accordingly, from the 2nd of next month, masks will not be required outdoors. However, the mask-wearing obligation will remain in place for gatherings or events with 50 or more people where the risk of infection is high due to crowd density and shouting, such as assemblies, performances, and sports game attendance.