K-pop stocks dip briefly on report of antitrust probe on production

Shares of SM Entertainment and Hybe fell in early trade after a reported probe by South Korea's Fair Trade Commission.

INDIO, CALIFORNIA - APRIL 15: Jisoo, Lisa, Jennie, and Rosé of BLACKPINK perform at the Coachella Stage during the 2023 Coachella Valley Music and Arts Festival on April 15, 2023 in Indio, California.Shares of K-pop agencies dipped briefly on Wednesday after a reported investigation by South Korea's antitrust watchdog.

The report said government agencies sent "examiners" to the offices of Hybe, SM Entertainment, YG Entertainment, according to a CNBC translation of the article. Hybe, the agency behind BTS, saw its shares fall as much as 3%, while SM Entertainment fell as low as 2.19%. Both stocks pared some of their losses by lunch break on Wednesday.

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