The sparkle of South Korean cosmetics firms remained strong on Monday after Seoul and Beijing extended a currency swap, a move seen as a yardstick for relations between the two countries.
Shares in Amorepacific, South Korea’s largest cosmetics company which has been hit by the ongoing spat between Beijing and Seoul, lifted 5 per cent in morning trading in Seoul on Monday, strengthening further from a 6.5 per cent gain on Friday to its highest point since September 5.
The price moves followed confirmation on Friday from the Bank of Korea that an eight-year $56bn currency swap with China had been extended.
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