Thursday , April 2 2020

Korea tourism stocks surge on bets for Chinese tourists

Bloomberg

The years-long disputes between China and South Korea are getting resolved, and analysts at Nomura Holdings Inc expect Chinese tourists to return en masse to the Korean nation.
That’s a boon for shares of cosmetics producers and travel-related companies.
Amorepacific Corp, the maker of beauty products that are popular souvenirs among Chinese women, climbed as much as 6.6% on Monday. Peer Kolmar Korea Co surged 12%, while travel agency Modetour Network Inc rallied 7.7%.
Media reports in China said several of its major tour agencies would restart selling five to six tour packages to South Korea, according to a Nomura note. The firm said its research showed Chinese group-package trips are resuming.

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