S.Korea stocks with China exposure gain on report of end to tourism boycott

PARADISE

23/08/2018 01:50

** South Korean China-related shares jump after local media
outlet Yonhap News Agency reports the Chinese government allowed
some Chinese tour agencies based in Shanghai to sell South Korea
tour packages
    ** Report encourages the view that China will further lift
boycotts against South Korean businesses, tourism
    ** Tourist numbers have crashed since mid 2017 after South
Korea angered China by deploying a U.S. High Altitude Area
Defence (THAAD) system that features radar Beijing believes
could be used to penetrate its territory
    ** South Korean casino companies Paradise Co Ltd  034230.KQ 
and Grand Korea Leisure Co Ltd  114090.KS  rise 4.4 pct and 2.5
pct, respectively
    ** South Korean companies engaged in duty free business such
as Hotel Shilla Co Ltd  008770.KS  and Shinsegae Inc  004170.KS 
soar as much as 6.0 pct and 7.6 pct each
    ** Shares of South Korean cosmetic brands, which are popular
among Chinese customers, also rise
    ** Amorepacific Corp  090430.KS  and Tonymoly Co Ltd
 214420.KS  jump as much as 6.4 pct and 7.5 pct, while Hankook
Cosmetics Co Ltd  123690.KS  surges as much as 12.6 pct
    ** Broader market  .KS11  up 0.2 pct as of 0037 GMT

 ((Reuters Messaging: joori.roh.thomsonreuters.com@reuters.net))