[Featured Stock] Hyundai Motor Rises Over 7% During Trading Session
[Asia Economy Reporter Minji Lee] Hyundai Motor is recording a rise of over 7% during the trading session.
At 11:59 AM on the 28th, Hyundai Motor was traded at 175,500 KRW, up 6.7% from the previous session. During the day, Hyundai Motor's stock price surged as much as 7.9% to 176,500 KRW. Currently, foreign investors and institutions have been net buyers of 165,000 shares and 39,000 shares respectively.
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Hyundai Motor is achieving outstanding results in the large SUV market despite the COVID-19 situation. Yoo Ji-woong, a researcher at Ebest Securities, stated, "Despite fixed cost burdens due to COVID-19, the integrated effect of the 3rd generation platform and the high-margin Genesis new car effect are leading to improvements in cost ratio," and forecasted, "In the third quarter, external growth and improvement in sales cost ratio will become more evident."
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