[Featured Stock] Hyundai Motor, 6 Consecutive Trading Days of Record Highs...'163,000 Won' 52-Week High

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] Hyundai Motor surged more than 10% during trading hours, setting a new 52-week high.

As of 10:33 AM on the day, Hyundai Motor recorded 163,000 KRW on the KOSPI market, up 10.54% from the previous trading day.

Hyundai Motor's stock price showed a strong trend for six consecutive trading days, including breaking the 52-week high. It is the first time in 2 years and 3 months that Hyundai Motor's stock price surpassed 150,000 KRW.

With this, Hyundai Motor surpassed Samsung SDI and Kakao to rise back to 7th place in market capitalization on the KOSPI market.

The rise in Hyundai Motor's stock price is interpreted as reflecting expectations that earnings will recover in the second half of the year due to improved sales performance in global markets such as the United States.

It is also analyzed that the announcement of plans to establish a lineup of three electric vehicles played a part. Hyundai Motor announced on the day that it would name its electric vehicle brand 'IONIQ' and plans to have a lineup of three electric vehicles by 2024: a compact utility vehicle (CUV), a mid-size sedan, and a large SUV.

This content was produced with the assistance of AI translation services.