Entertainment-related stocks are rising in the morning of the 13th. This appears to be due to expectations of economic stimulus measures from the Chinese government.
According to the Korea Exchange, as of 9:59 a.m., HYBE is trading at 207,000 won, up 9,900 won (5.02%) from the previous day. At the same time, CJ ENM is up 3,100 won (5.29%) at 61,700 won, JYP Entertainment is up 2,300 won (3.18%) at 74,600 won, and YG PLUS is trading at 4,175 won, up 95 won (2.33%).
The leadership of the Communist Party of China hinted at taking economic stimulus measures during the Central Economic Work Conference held on December 11-12. The meeting prioritized consumer revitalization as the top economic task for next year. The Chinese government stated, “We will expand domestic demand comprehensively and take special measures to stimulate consumption.”