[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.

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."