K-beauty stocks rebound early after a slump; APR up in the 8% range [Stock NOW]

[Financial News] Cosmetic stocks are broadly higher early in the session. Shares had come under pressure amid earnings concerns stemming from the stronger won, but investor sentiment appears to be improving somewhat as analysts say overseas demand remains solid.
As of 9:30 a.m. on the 16th, APR was trading at 324,000 won, up 26,000 won (8.72%) from the previous trading day's close. d'Alba Global Co., Ltd. (6.68%), Korea Cosmetics Manufacturing (6.29%) and Kolmar Korea (5.22%) were also up. Amorepacific (4.08%), Cosmax (4.06%) and LG Household & Health Care (3.16%) were also strong.
Cosmetic stocks have recently faced earnings pressure from the stronger won. Companies with a high share of overseas sales are affected by exchange-rate declines when converting their dollar-denominated revenue into won. However, analysts say that, excluding the impact of exchange rates, demand continues to expand, particularly in the United States and Europe.
Cosmetics exports totaled $1.213 billion last month, up 30% from the same period a year earlier. It was the first time monthly exports had exceeded $1.2 billion. Exports to the United States rose 21%, while combined exports to nine European countries increased 103%.
Kim Myeong-ju, an analyst at Korea Investment & Securities, said, "This week's share-price correction is clearly an oversold reaction." She added, "It is true that the won-dollar exchange rate is difficult to predict, but that has been sufficiently reflected in share prices, while the solid results being shown at shopping events have not been reflected in share prices." 

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