Hankook Cosmetics is experiencing a sharp rise of over 10% in early trading on the 16th, as buying interest is surging on expectations of improved relations between Korea and China.

A sign written in Chinese stands at a cosmetics store in Myeong-dong, Jung-gu, Seoul./Courtesy of Yonhap News Agency

As of 9:15 a.m. on the same day, Hankook Cosmetics is trading at 12,270 won, up 1,900 won (18.27%) from the previous trading day.

Recently, the possibility of improved relations between Korea and China has led to increased attention on cosmetics stocks with a high proportion of exports to China. It was reported that President Xi Jinping will attend the Asia-Pacific Economic Cooperation (APEC) meeting in Gyeongju in October to November. This will be President Xi's first visit to Korea since the term of former President Park Geun-hye in 2014.

In addition to Hankook Cosmetics, other cosmetics-related stocks such as Coreana Cosmetics, Hankook Cosmetics Manufacturing, APR, BEAUTYSKIN, and MA:NYO are also showing an upward trend.

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