[Featured Stock] Cosmetics Stocks Rise on China's Easing of Quarantine Regulations

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] Domestic cosmetics stocks are showing an upward trend following news of China's relaxation of COVID-19 quarantine regulations.

At 11:03 AM on the 29th, Kolmar Korea rose 7.18% compared to the previous trading day. Other cosmetics stocks also showed gains, including It's Hanbul (6.73%), LG Household & Health Care (6.24%), Kolmar Korea Holdings (4.46%), and Amorepacific (3.77%).

This reflects expectations that demand for cosmetics may increase due to China's easing of COVID-19 restrictions. On the same day, Chinese quarantine authorities announced the 9th set of quarantine guidelines, adjusting the quarantine period for overseas arrivals from the previous '14+7' (14 days of centralized quarantine and 7 days of self-quarantine) to '7+3' (7 days of centralized quarantine and 3 days of self-quarantine). As a result, the quarantine period was shortened by 11 days.