[Featured Stock] Sehwa P&C Rises 23% on Export Growth and UAE Tariff Removal News
The stock price of Sehwa P&C is rising by more than 23%.
As of 10:22 a.m. on the 14th, Sehwa P&C is trading at 1,288 won, up 23.25% (243 won) from the previous trading day.
The stock price of Sehwa P&C is also showing strong gains as cosmetic stocks are rising together on expectations that exports will improve and earnings will increase.
Additionally, recent news that the United Arab Emirates (UAE) will abolish tariffs on cosmetics appears to be a positive factor for the stock price. Sehwa P&C exports cosmetics to the Middle East region, including the UAE.
According to the cosmetics industry, the government and the United Arab Emirates (UAE) signed a Comprehensive Economic Partnership Agreement (CEPA) at the end of last month, which includes the abolition of tariffs on Korean cosmetics.
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Kim Myung-joo, a researcher at Korea Investment & Securities, said, "Considering the structural growth of the Western skincare industry centered on the United States and the emergence of emerging markets, it is clear that the popularity of Korean cosmetics globally is not a short-term trend but a big cycle. In particular, it is necessary to continuously pay attention to companies that are performing well in the United States."
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