Market values of Korean companies reliant on the Chinese market rebounded as Seoul and Beijing continued to normalize ties.

According to data released Sunday by the Korea Exchange, the market caps of Korean firms in consumer sectors, such as cosmetics, duty-free and entertainment have posted swift growth during the past eight trading days.

The companies that marked significant recoveries during the period included LG Household & Healthcare, Amorepacific Group, Amorepacific, Lotte Shopping, CJ E&M, Hotel Shilla, Shinsegae, Paradise and Grand Korea Leisure.

The nine Korean companies’ market caps increased by some 3.3 trillion won ($2.9 billion) during the eight-day period, the data showed.

Cosmetics firm LG Household & Healthcare’s market cap increased by 671 billion won since Oct. 31 to reach 19 trillion won. Amorepacific came in second with a market cap of 18.7 trillion won, up 380 billion won from 18.3 trillion won on Oct. 31, and Amorepacific Group’s market cap also posted a 618 billion won increase.

Lotte Shopping’s market cap increased by 436 billion won. Market cap of Korea’s largest film distributor CJ E&M marked a 209 billion won increase. Hotel Shilla also saw its market cap rise 180 billion won over the same period.

The market value of Korean casino operator Paradise increased by 441 billion won to reach at 2.2 trillion of market cap, while its competitor GKL’s market cap increased by 188 billion won.

The two countries agreed to settle the dispute regarding the placement of a US missile-defense system here on Oct. 31.

Following the announcement, the leaders of South Korea and China on Saturday also held a bilateral summit on the sidelines of the Asia-Pacific Economic Cooperation forum in Danang, Vietnam. During the meeting, President Moon Jae-in and its counterpart Xi Jinping reaffirmed their joint efforts to normalize their relationship. 

The two leaders will meet again to continue their discussions next month when President Moon visits China for their third bilateral summit, according to Cheong Wa Dae.

On the back of hopes that the two would extend talks to reconcile, the markets are also showing signs of letting up.

During Alibaba’s annual shopping bonanza Singles Day ended Saturday, Korean duty-free and online shopping platform operators saw improvements in their sales. Lotte Duty Free reported that purchases by Chinese buyers rose by 11 percent on-year during the period between Nov. 5 and Nov. 11. Shilla Duty Free’s website in China posted 30 percent on-year growth in its sales between Nov. 1 and Nov.11 as well.

Gmarket and Hyundai Department Store’s overseas online shopping websites both saw their sales double during the 10-day period.

Korea’s retail conglomerate E-Land Group’s sales unit in China said it logged a total of 76.7 billion won in sales during the shopping event, up by 39 percent on-year.

The combined sales of Korean companies during Alibaba’s Singles Day reportedly listed fifth.

An advertisement featuring Korean actress Jun Ji-hyun was also highlighted, adding hopes that China might have finally lifted its apparent ban on Korean celebrity media appearances.

By Shim Woo-hyun (ws@heraldcorp.com)