Business · Markets · 2 hrs ago

South Korean Cosmetics Shares Rise on Bargain Buying

South Korean Cosmetics Shares Rise on Bargain Buying

Shares in South Korean cosmetics companies rose early on Oct.

16 after falling in recent trading.

D'alba Global was up 6.81% at 9:25 a.m.

in Seoul, while APR and other cosmetics firms also gained.

A stronger won had led analysts to lower third-quarter earnings forecasts for the industry.

Investors appeared to be buying shares they viewed as cheaper after the recent declines.

South Korea's cosmetics industry has benefited from strong exports and global demand for K-beauty.

Analysts cited in the report said the currency effect was temporary and did not change the industry's direction.

The shares' next moves were not stated.

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What people are saying

Park Jong-daeanalyst at Hana Securities
If these factors are excluded, most companies' results are better than initially expected.
via Yonhap
Global demand for K-beauty is still very strong.
via Yonhap