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While most songs stocks have actually uploaded gains over the last 2 months, or a minimum of have actually walked water, K-pop stocks are stumbling in the closing stretch of 2023.
Four South Korean songs business– HYBE, SM Entertainment, YG Entertainment and JYP Entertainment– had a typical loss of 13.3% today and have actually dropped approximately 21.4% in the last 8 weeks. SM Entertainment has actually carried out especially improperly, dropping 29.4% in 8 weeks. Those losses happened regardless of a rally 2 weeks back after South Korean regulatory authorities’ restriction on brief marketing up until 2024 triggered a rise in the nation’s supply costs.
Elsewhere, songs stocks are normally rising in late 2023. Non-Korean stocks in the Billboard Global Music Index have actually gotten approximately 9.1% over the last 8 weeks. Only 2 of those 18 stocks– iHeartMedia and Deezer– have actually endured …
