S.Korea's tourism shares dive on worsening consumer sentiment

Modetour Network

02/08/2018 02:52

** South Korean tourism-related companies tumble as a drop
in consumer sentiment and natural disasters around popular
travel spots across Asia discourage overseas travelling
    ** The won's fall against the dollar has made it more
expensive for South Koreans to travel abroad, while a surge in
minimum wages has hurt consumer sentiment, says Park Sung-ho, an
analyst at Yuanta Securities
    ** Earthquakes and typhoons occurred in Japan in July, while
Thailand and Myanmar were hit by floods. The tourism market is
likely to stay sluggish throughout August, says Lee Ki-hoon, an
analyst at Hana Financial Investment
    ** Shares of Hanatour Service Inc  039130.KS  and Modetour
Network Inc  080160.KQ  fall 8.5 pct and 9 pct each
    ** Lotte Tour Development Co Ltd  032350.KS  and Very Good
Tour Co Ltd  094850.KQ  also drop as much as 3.1 pct and 6.2
pct, respectively
    ** The broader market  .KS11  is down 0.1 pct as of 0109 GMT
   

 ((joori.roh@thomsonreuters.com;))