S.Korea's cosmetic shares plunge on weak sentiment about Chinese buyers

AmorePacific Holdings

04/10/2018 02:45

** Shares of South Korean cosmetic brands including
Amorepacific Group  002790.KS  and Cosmax  192820.KS  tumble as
much as 11.7 pct and 8.4 pct, respectively
    ** Stocks with China exposure including cosmetics and duty
free businesses are falling as vague expectations on increased
Chinese inbound during the national holiday golden week fail,
says Park Hyun-jin, an analyst at DB Financial Investment.
Cosmetic brands shares are dropping as Chinese customers are
also highly interested in other cosmetic brands apart from the
Korean ones, adds Park
    ** While Amorepacific Q3 performance is expected to fall
short of market expectations, concerns over Chinese economy seem
to have influenced the market, says Park Eun-kyung, an analyst
at Samsung Securities
    ** Firms engaged in duty free business also fall; Shinsegae
Inc  004170.KS  and Hanwha Galleria Timeworld Co Ltd  027390.KS 
edge down 7.2 pct and 5.5 pct each
    ** The broader market  .KS11  down 1.2 pct as of 0130 GMT

 ((joori.roh.thomsonreuters.com@reuters.net))