[Featured Stock] Hyundai Motor Rises Early in Trading on Expectations of Exchange Rate Benefits
[Asia Economy Reporter Hwang Yoon-joo] Hyundai Motor shows an upward trend in early trading amid a strong dollar trend and expectations of volume growth in the third quarter.
As of 9:23 a.m. on the 7th, Hyundai Motor is trading at 202,500 KRW, up 0.75% (1,000 KRW) from the previous day. Foreign investors are recorded to have purchased 2.62 billion KRW during the session.
Hyundai Motor closed the market with gains for three consecutive trading days since the 2nd. Foreign buying interest has flowed in on the judgment that a high exchange rate will be advantageous for exports, stabilizing the price in the 200,000 KRW range.
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Meanwhile, the won-dollar exchange rate opened at 1,377.0 KRW, up 5.3 KRW from the previous day, but surpassed 1,380.0 KRW during the session, marking a new intraday high. This breaks the previous intraday high of 1,377.0 KRW recorded the day before, reaching the highest level in 13 years and 5 months since April 1, 2009 (1,392.0 KRW).
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