Korean cosmetics shares rise as K-Content stocks decline

Kolmar Korea shares more than doubled this year through Oct. 8, while most companies in Korea Exchange's K-Content index lost value, according to exchange data reported by Yonhap.

The KRX Consumer Staples index, which includes cosmetics and food producers, gained 17.29% over the period. Within the cosmetics industry, Cosmax advanced 88.04% and APR rose 60.82%.

The KRX K-Content index moved in the opposite direction, falling 31.37%, the largest decline among KRX industry indexes. Its constituents include online platforms, game developers and entertainment agencies. Shares of 17 of its 19 companies fell.

Hybe, the agency behind BTS, lost 50.33%. Kakao declined 46.26%, while JYP Entertainment dropped 45.52%.

Kiwoom Securities analyst Lim Soo-jin attributed narrowing entertainment valuations to comparisons with stronger semiconductor-sector growth. She also said investors were concerned about whether companies had enough new intellectual property to build on the success of their existing franchises.