Cosmetics stocks were broadly higher early on the 24th. Exports of domestic cosmetics have risen sharply this year, led by the United States and Europe, and with strong overseas shipments expected next month as well, buying appears to be concentrating.
As of 9:36 a.m. that day, BEAUTYSKIN was trading at 2,600 won on the Korea Exchange, up 600 won (30%) from the previous session, hitting the upper price limit.
At the same time, CSA Cosmic (29.8%), Organic Tea Cosmetics (29.79%), Bonne (23.19%), Coreana Cosmetics (20.4%), Manyo Factory (20.03%), Hankook Cosmetics (11.22%), VT (9.56%), and IT'S HANBUL (9.06%) were also rising in succession.
As semiconductor shares that had led the domestic stock market overheated, buying appears to have shifted to cosmetics, which are considered earnings plays. In addition, investors seemed to focus on the fact that Korea's cosmetics industry is expanding exports to the United States, the Netherlands, and Poland.
Jung Ji-yoon, an analyst at NH Investment & Securities, said, "From April 1–10, Korea's total cosmetics exports reached $377.21 million, setting a record high as of the 10th," and noted, "Ahead of the second-quarter peak season, increasing weight in the cosmetics sector is valid."
Kim Myung-joo, an analyst at Korea Investment & Securities Co., said, "Cosmetics exports rose 10.0% last year from the year before, and this year (Jan.–April 20) they increased 20.7% year over year," and analyzed, "Exports to the United States rose 40.7% over the same period, remaining solid, while exports to Europe—based on the three countries of the Netherlands, Poland, and the United Kingdom—jumped 105.5%."