[Featured Stock] Hyundai Motor Surges Amid 'Apple Car' Hopes... Regains 4th Place in Market Cap
[Asia Economy Reporter Song Hwajeong] Hyundai Motor is experiencing a continuous surge due to expectations for the 'Apple Car.' Its market capitalization also jumped to 4th place during trading hours.
As of 9:20 AM on the 11th, Hyundai Motor was trading at 277,000 KRW, up 31,000 KRW (12.6%) from the previous day. It rose to 289,000 KRW during the session, setting a new 52-week high, and its market cap climbed to 4th place. Hyundai Motor had previously surged more than 19% on the 8th.
On the same day, Hyundai Mobis and Kia Motors also rose more than 6% each.
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Expectations for the Apple Car are leading to a broad rally in Hyundai Motor Group stocks. Hyundai Motor Group is currently pursuing cooperation for mass production of Apple's autonomous electric vehicle, the Apple Car.
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