South Korean cosmetics makers fell on Wednesday following a report that China was to reinstate a ban on tour groups to South Korea less than a month after Beijing was said to have eased restrictions.
Newspaper JoongAng Ilbo reported that the ban, originally put in place earlier this year to punish Seoul for the deployment of the US-built Thaad missile defence system, was back in full force as of Wednesday. South Korean media reported the ban had been eased in late November ahead of South Korean President Moon Jae-in’s visit to Beijing last week.
South Korean make-up and skin care products are popular with Chinese tourists to the country, making the sector particularly vulnerable to the bans.
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