HONG KONG -- South Korea is in political turmoil, with President Park Geun-hye thrown out of office over corruption allegations. Now, a dark shadow looms over the country's stock market as well.
After China placed restrictions on travel to South Korea on March 3, the market went wild. Tourism-related issues imploded. AmorePacific Group, a major cosmetics company, dived nearly 13%. Peer LG Household & Health Care lost over 8%. Hotel Shilla, which runs tax-free shops for tourists, plunged more than 13%. Investors offloaded shares on fears that sales to Chinese tourists will slide.
