Shiseido shares slide 11% amid growing Japan-China tiff

Investing.com-- Shares of Japanese cosmetics giant Shiseido (TYO:4911) plunged over 11% on Monday, after Beijing issued a warning to Chinese citizens against traveling to or studying in Japan, escalating the diplomatic friction between the two countries.

The sharp drop underscores investors’ worries about Shiseido’s heavy reliance on Chinese consumers -- a key market that has already weighed on its profits.

Shares of the company fell as much as 11.4% to 2,361.0 yen as of 00:57 GMT, reaching their lowest since mid-September.

Earlier this year, Shiseido reported a 73% plunge in full-year profit, citing weak demand in China.