South Korean media content stocks jump on China hopes

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23/11/2022 01:46

** South Korea's small-cap media content and entertainment
shares surge on hopes of China lifting bans 
    ** Kidari Studio  020120.KS  jumps 29.94% to reach its daily
upper limit
    ** Other media content stocks Showbox  086980.KQ , Daewon
Media  048910.KQ , CJ ENM  035760.KQ  and Studio Dragon
 253450.KQ  rise more than 20%, 18%, 9% and 8%, respectively 
    ** Entertainment company HYBE  352820.KS  rises more than 7%
    ** A Chinese streaming platform has resumed distributing
South Korean content after suspending it for nearly six years,
following the South Korea-China summit last week.
    ** "There is not yet any official announcement of China's
lifting ban on South Korean contents, but it has raised hopes of
more specific actions," says Park Hyung-min, an analyst at Cape
Investment and Securities
    ** The benchmark KOSPI  .KS11  up 0.55% and junior KOSDAQ
 .KQ11  up 1.29% as of 0117 GMT
 (Reporting by Jihoon Lee)
 ((jihoon.lee@thomsonreuters.com))