Seoul — The escalating war of words between US President Donald Trump and North Korean leader Kim Jong-un has spurred demand for haven assets globally. In Seoul, bargain-seeking investors have turned bullish on consumer stocks. Eight of top 10 gainers on the Kospi 200 index since Trump’s "fire and fury" comment on August 8 include cosmetics maker Cosmax, which soared 11.5% over the next three days; Hansae, a garments producer, which rose 6.7%; and furniture maker Hyundai Livart, which rallied 5.1%. The index slid 3.4%. While South Korean stocks suffered their worst week since February 2016 as Trump dialled up his warning to North Korea on threats to US allies investors including Shinyoung Asset Management and Korea Investment Management said the sell-off was an opportunity to snap up consumer companies as President Moon Jae-in took steps to stoke demand. "The North Korean issue is a meaningless assumption, a short-term issue to be resolved," said Jung Sang-jin, a fund manager at Kor...
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