BUZZ-South Korean entertainment stocks drop on China's unofficial ban on Korean culture

** South Korean entertainment stocks drop on China's unofficial ban on Korean culture

** K-Pop agency HYBE 352820.KS falls 3%, SM Entertainment 041510.KQ drops 9%, JYP Entertainment 035900.KQ loses 6% and YG Entertainment 122870.KQ declines 6%

** Film producer CJ ENM 035760.KQ falls 4%

** It will take some time to see Beijing lift an unofficial ban on Korean culture, South Korea's presidential chief of staff says in a radio interview

** South Korean President Lee Jae Myung is on a state visit to China and is due to hold summit talks with Chinese President Xi Jinping later in the day, with the agenda expected to include cultural exchanges

** Shares of companies with high exposure to business in China also fall, including beauty makers, game developers and travel agencies, after a rally last week

** The broader KOSPI market .KS11 up 2.5%, hits record high; the tech-heavy KOSDAQ .KQ11 up 0.8%, as 0f 0202 GMT


(Reporting by Jihoon Lee)

((jihoon.lee@thomsonreuters.com))

This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.